Global industrial robotics market has witnessed significant growth, owing to rise in demand for automation in production and manufacturing.

PORTLAND, OR, UNITED STATES, July 6, 2023/EINPresswire.com/ -- The global industrial robotics market size was valued at $37.8 billion in 2020, and is expected to reach $116.8 billion by 2030, with a CAGR of 11.7% from 2021 to 2030. In 2020, Asia-Pacific dominated the global market, in terms of revenue, accounting for around 58.5% share of the global market.

The key factor accelerating the market for industrial robotics is a sudden spur in global industrial output. To emerge from a cyclical slump, the industrial robotics business requires some level of innovation, similar to the automobile or heavy engineering markets. . In addition, shift in political scenarios, such as in India, is expected to see an end to policy paralysis and a boost to industrial productivity, leading to a significant turnaround in the automobile industry as rise in automation in automobile industry will led to installation of industrial robots.

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Increase in demand for automation along with reduction of duties on refurbished goods in Asia-Pacific fuels the market growth. In addition, cylindrical robots and other types of robots, such as customized and refurbished robots, are expected to grow at a significant pace in the future, due to the increase in demand in industrial sectors in Asia-Pacific.

The industrial robotics market is segmented on the basis of type, industry, function, and region. On the basis of type, it is segmented into articulated, cartesian, SCARA, cylindrical, and others. By industry it is classified as automotive, electrical & electronics, chemical, rubber & plastics, machinery, food & beverage, and others. On the basis of function, it is categorized into soldering & welding; materials handling; assembling & disassembling; painting & dispensing; milling, cutting, & processing; and others.

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Top Players:
The major players profiled in the industrial robotics market include ABB, DAIHEN Corporation, Denso Corporation, Epson America, Inc., Fanuc Corporation, Kawasaki Heavy Industries Ltd., Kobe Steel, Ltd., Kuka AG, Mitsubishi Electric Corporation, and Yaskawa Electric Corporation. 

Key Findings Of The Study:
• The report provides an extensive analysis of the current and emerging global industrial robotics market Analysis and dynamics.
• On the basis of type, the articulated segment was the largest revenue generator in 2020.
• By industry, the electrical & electronics segment generated the highest revenue in 2020.
• On the basis of function, the materials handling segment dominated the market in 2020.
• Region wise, Asia-Pacific is anticipated to dominate the market throughout the forecast period.
• The report provides an extensive analysis of the global industrial robotics market trends and emerging opportunities of the market.
• The global industrial robotics market forecast analysis from 2021 to 2030 is included in the report.

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David Correa
Allied Analytics LLP
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