The Global Industrial Robotics Market is excepted to reach the value of 16.78 billion USD by the end of 2027

HYDERABAD, TELANGANA, INDIA, November 22, 2022 /EINPresswire.com/ -- Product Description:
The global industrial robotics market size was valued at USD 15.60 billion in 2021, and it is estimated to reach USD 16.78 billion by 2027, with a registering CAGR of 11.7% during the forecast period.

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Industrial robotics has been developed to automate intensive production tasks such as those required by a constantly moving assembly line. Industrial robots are used for painting, assembly, printed circuit boards, welding, testing, product inspection, packaging, and labeling. Industrial robots are automated programmable and capable of movement on three or more axes. Industrial robotics is a good career because it ranks high on the scale of job satisfaction, skills utilization, and a good work environment.

Drivers:
Increasing productivity by reducing costs and production is driving the market’s revenue. The increase in investment across industries is driving market growth. The rising adoption of robots in the manufacturing sector is the major factor to drive the market growth. The increasing focus on improving the manufacture of vehicles and electrical equipment is the factor to drive the market growth. The growing demand for collaborative robots across all the industry segments is the major factor driving the market growth.

Restraints:
The high cost of the deployment especially for SMEs is the key factor to hampering the market growth. The underdeveloped of some countries is the major factor restraining the market growth.

Segmentation Analysis:
Industrial Robotics Market - By Type:
• Articulated
• Cartesian
• SCARA
• Cylindrical
• Others

Based on the type: The Articulated segment was recorded as the largest market share in the industrial robotics market in 2022 and it is anticipated to grow significantly during the forecast period. The articulated robot is a robot containing rotary joints. The articulated is used in pharmaceuticals, food and beverages, and autos propelling to drive the market growth.

Industrial Robotics Market - By End-user Industry:
• Automotive
• Electrical & Electronics
• Chemical Rubber & Plastics
• Machinery
• Food & Beverages
• Others

Based on the end-use industry: Automotive held the largest share in the industrial robotics market in 2022 and it is anticipated to grow significantly during the forecast period. The Automotive industry is associated with the production, retailing, wholesaling, and maintenance of motor vehicles. The automotive sector has higher efficiency, safety, and speed & precision to drive the market growth.

Industrial Robotics Market - By Application:
• Palletizing
• Material Handling
• Welding
• Assembling
• Painting

Based on the application: The Material Handling segment held the largest share market in the industrial robotics market in 2022 and it is anticipated to grow significantly during the forecast period. Material handling is the use of the robot’s simple capability to transport objects. Material handling is a key role in the chemical and pharmaceutical industries. The robotic material handling as well as machine tending systems provide reliable delivery of productivity gains and therefore it is extremely important in the industrial robotics market.

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Regional Analysis:
The Asia Pacific is the largest growing region in the industrial robotics market and is excepted to grow significantly during the forecast period. The Asia Pacific has a high availability in the countries such as China, Japan, India, Indonesia, and South Korea. The reason for this dominance of the region is the growth and popularity of the industrial robotics market and the increasing automation and this is likely to create growth in the region’s market. The increasing labor costs drive the region’s market growth. China is the largest market supporting the growth of the industrial robotics. There has been rapid growth in the industrial robotics market in the region leading to global market growth.

North America is excepted to be growing lucratively in the industrial robotics market.

Latest Industry Development:
• In October 2020, ABB announced the acquisition of Codian Robotics (Netherlands), a leading provider of delta robots used primarily for high-precision pick and place applications. Codian Robotics’ offering includes a hygienic design line, ideal for hygiene-sensitive industries including food and beverage and pharmaceuticals. With the acquisition, ABB is expected to increase its delta robot offerings.
• On July 29, 2022 – DENSO, a leading mobility supplier, today announced global financial results for the first quarter of its fiscal year, ending March 31, 2023. DENSO’s efforts and updates continue to be driven by its Two Great Causes.
• In February 2021, Kawasaki Heavy Industries, Ltd. The company said it had completed the installation of a domestic automated polymerase chain reaction test system in Japan that operates Kawasaki robots at Fujita Medical University in Aichi Prefecture.

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