Global Industrial Robotics Market

Global Industrial Robotics Market Size, Share, Growth Analysis, By Application(Handling, Assembling & Disassembling), By End-Use(Automotive, Electrical/Electronics) - Industry Forecast 2024-2031

Report ID: SQMIG20I2180 | Region: Global | Published Date: March, 2024
Pages: 202 | Tables: 72 | Figures: 75

Global Industrial Robotics Market News

  • In February 2024 Contract logistics provider GXO Logistics, Inc. announced it is partnering with California-based robotics developer Dexterity to pilot AI-enhanced robotics at a beauty brand’s warehouse. 

  • In February 2024 Massachusetts Technology Collaborative (MassTech) has launched a new initiative to boost the robotics sector across the state, an effort funded through $5 million in investment. The new department, established within the Innovation Institute at MassTech, will help develop a comprehensive statewide cluster development effort for robotics that will focus on expansion of R&D, testing, commercialization, and workforce development throughout the state.

  • In April 2023, Fanuc announced the launch of its new M-20iA robot. The M-20iA is a high-payload robot that is designed for a variety of applications, including welding and material handling.
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Global Industrial Robotics Market size was valued at USD 26.52 Billion in 2022 and is poised to grow from USD 29.30 Billion in 2023 to USD 65.14 Billion by 2031, at a CAGR of 10.50% during the forecast period (2024-2031).

The Global Industrial Robotics Market is highly competitive landscape, characterized by the presence of a diverse array of established players and innovative newcomers. As of my last knowledge update in September 2021, industry giants such as Fanuc Corporation, ABB Ltd., and Yaskawa Electric Corporation have long dominated the market, leveraging their extensive experience and advanced technological capabilities to provide a wide range of robotic solutions. These companies have built strong global networks, offering industrial robots for tasks ranging from manufacturing and assembly to precision welding and material handling. Alongside these established players, newer entrants such as Universal Robots A/S and Techman Robot Inc. have been gaining traction with their collaborative and user-friendly robotic platforms, catering to the growing demand for flexible automation. 'Fanuc Corporation (Japan)', 'ABB Ltd. (Switzerland)', 'Yaskawa Electric Corporation (Japan)', 'KUKA AG (Germany)', 'Mitsubishi Electric Corporation (Japan)', 'Universal Robots A/S (Denmark)', 'Denso Corporation (Japan)', 'Nachi-Fujikoshi Corporation (Japan)', 'Comau S.p.A. (Italy)', 'Kawasaki Heavy Industries Ltd. (Japan)', 'Epson Robots (Japan)', 'Stäubli International AG (Switzerland)', 'Yamaha Motor Co., Ltd. (Japan)', 'Siasun Robot & Automation Co., Ltd. (China)', 'Techman Robot Inc. (Taiwan)', 'Precise Automation, Inc. (United States)', 'Omron Corporation (Japan)', 'Rethink Robotics GmbH (Germany)', 'F&P Robotics AG (Switzerland)', 'Engel Austria GmbH (Austria)'

Shortages in skilled labor, especially in markets like manufacturing, pushed companies to invest in automation solutions like industrial robots to maintain productivity and quality. For example, companies in industries such as electronics and automotive turned to robots to fill labor gaps and meet production targets.

AI-driven Automation: In 2022, there was an increased focus on incorporating artificial intelligence (AI) into industrial robots. AI-powered robots can make real-time decisions based on data analysis, improving adaptability and efficiency. For instance, robots equipped with AI can optimize their paths and movements in dynamic environments.

In 2022, the Asia Pacific region asserted its dominance in the industrial robotics sector, capturing a substantial share of over 65%. Projections suggest that this regional supremacy is poised to persist throughout the forecast period. The Asia Pacific area boasts a multitude of industries and factories that have seamlessly integrated industrial robots into their manufacturing workflows. Moreover, the escalating embrace of automation, artificial intelligence, and the progressive evolution of other cutting-edge technologies augments the region's potential for significant growth.

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