Industrial Robotics Market Size, Share & Analysis Report, 2023-2032
The global industrial robotics market size was exhibited at USD 27.9 billion in 2022 and is projected to hit around USD 78.79 billion by 2032, growing at a CAGR of 10.94% during the forecast period 2023 to 2032.
Key Pointers:
Currently, the growing demand for modular robotic systems poses a challenge for industrial robot OEMs and integrators in terms of interoperability between various robotic platforms. However, with the availability of the OPC UA cross-platform communication protocol, the interoperability challenge is expected to be mitigated by the end of 2022. Players in the industrial robotics market adopted growth strategies such as product launches, partnerships, collaborations, and strategic alliances. These strategies enabled them to efficiently cater to the growing demand for industrial robotic systems from end users and expand their global footprint to all the major regions.
Industrial Robotics Market Report Scope
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Report Coverage |
Details |
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Market Size in 2023 |
USD 30.95 Billion |
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Market Size by 2032 |
USD 78.79 Billion |
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Growth Rate From 2023 to 2032 |
CAGR of 10.94% |
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Base Year |
2022 |
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Forecast Period |
2023 to 2032 |
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Segments Covered |
By Type, By Application and By End-User |
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Market Analysis (Terms Used) |
Value (US$ Million/Billion) or (Volume/Units) |
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Regional Scope |
North America; Europe; Asia Pacific; Central and South America; the Middle East and Africa |
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Key Companies Profiled |
ABB, FANUC CORPORATION, KUKA AG, YASKAWA ELECTRIC CORPORATION, Comau S.p.A., Seiko Epson Corporation, Kawasaki Heavy Industries, Ltd, Mitsubishi Electric Corporation, Staubli International AG., Universal Robots and Others. |
Industrial robotics market Dynamics
Drivers: Rising demand for collaborative robots across industries
Cobots are becoming more affordable and easier to program for novice users. For instance, Universal Robots (Denmark) provides the UR+ platform to enable users to program the robot and use various robot end effectors, vision systems, and add-on software from other manufacturers, including Robotiq (Canada), Schunk (Germany), PIAB (Germany), OnRobot (Denmark), Cognex (US), and Energid (US). The peripherals and software offered by these companies are UR+ certified to minimize compatibility issues with the robots manufactured by Universal Robots (Denmark). Enterprises of all sizes and are adopting collaborative robots for new and existing applications. For instance, BMW (Germany) has deployed a UR10 robot from Universal Robots for gluing and other dispensing applications. These stronger, faster and more capable cobots will accelerate the company’s expansion in high-growth segments including electronics, healthcare, consumer goods, logistics and food and beverages, meeting the growing demand for automation across multiple industries.
Restraints: High cost of deployment for SMEs
A robotic automation project can be challenging, especially for companies with no prior experience. Replacing human workers may not always decrease the operational costs for an organization. A single collaborative robot system can cost anywhere from USD 3,000 to USD 100,000. The price of an industrial robotic system ranges from USD 15,000 to USD 150,000. The cost of industrial robots, coupled with integration costs and the cost of peripherals, such as end effectors and vision systems, makes automation a costly investment for SMEs, especially when they are engaged in low-volume production. The price issue is more severe for companies involved in seasonal or inconstant production schedules.
Opportunities: Emergence of Industry 5.0
The concept of Industry 5.0 is a relatively new one. According to the European Commission, Industry 5.0 provides a vision of industry that aims beyond efficiency and productivity as the sole goals and reinforces the role and the contribution of industry to society. It places the wellbeing of the worker at the center of the production process and uses new technologies to provide prosperity beyond jobs and growth while respecting the production limits of the planet. Industry 5.0 complements the industry 4.0 approach by specifically putting research and innovation at the service of the transition to a sustainable, human-centric and resilient European industry. Industrial robots will be a critical component of the fifth industrial revolution. They will help close the design loop. By fully and efficiently automating the entire production process, humans will be left free to create and innovate without having to worry about production constraints. In contrast to Industry 4.0, Industry 5.0 aims to put the human touch back into development and production. It is expected to utilize the creative intellectual capability of humans optimally. Thus, the emergence of industry 5.0 will create a lucrative opportunity for collaborative robots.
Challenges: Safety concerns related to industrial robotics systems
Numerous safety issues are associated with industrial robots. Some robots, notably those in a traditional industrial environment, are fast and powerful. This increases the potential for injury as one swing from a robotic arm, for instance, could cause serious bodily harm. There are additional risks when a robot malfunctions or requires maintenance. A malfunctioning robot is typically unpredictable and can cause injury to workers. For instance, a robotic arm that is part of a car assembly line may experience a jammed motor, and the worker fixing the jam may get hit by the arm when it becomes unjammed. Similarly, a worker standing in a zone overlapping with nearby robotic arms may get injured by other moving equipment. Several Indian companies have reported crushing and trapping accidents, and impact or collision accidents caused by malfunctioning mechanical parts of industrial robots. For instance, in 2020, a 44-year-old welding worker at Automotive Stampings & Assemblies Ltd (Asal) in Pune (India) was killed after being hit on the head and neck by the arm of a robotic machine.
Industrial Robotics market to witness highest demand in APAC region
According to the International Trade Centre, China is the world’s largest exporter and importer of manufactured goods. The once easily available labor has resulted in the growth of several labor-intensive industries, such as clothing, textiles, footwear, furniture, plastic products, bags, and toys. However, the aging population in recent years has created a shortage of labor, leading to a rise in wages. This is compelling companies to adopt automation and industrial robots to reduce costs. China is moving from labor-intensive simple industries toward high-tech manufacturing goods, such as semiconductors, through its Made in China 2025 policy.
With Chinese telecommunication equipment giant Huawei being placed on the US blacklist, China aimed to produce 40% of the semiconductors it uses by 2021 and 70% by 2025. Japan is one of the leading producers of electric vehicles in the world. The arrival of fully electric and hybrid vehicles in the coming years is expected to boost the market for industrial robots due to new assembly line processes.
Consumer electronics products have witnessed a decline due to fierce competition from global manufacturers in China and South Korea. However, the demand for electronic components such as sensors and displays in the export market is expected to be high. With FANUC (Japan) and Yaskawa (Japan) as the top players in the industrial robotics market, the market in Japan is expected to grow at a steady pace. The presence of some of the most prominent players in the industrial robotics market space, such as FANUC (Japan), Yaskawa (Japan), and Mitsubishi Electric (Japan), is another major factor driving the market in this region.
Some of the prominent players in the Industrial Robotics Market include:
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the global Industrial Robotics market.
By Type
By Application
By End-User
By Region
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Industrial Robotics Market
5.1. COVID-19 Landscape: Industrial Robotics Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Industrial Robotics Market, By Type
8.1. Industrial Robotics Market Revenue and Volume, by Type, 2023-2032
8.1.1 Articulated robots
8.1.1.1. Market Revenue and Volume Forecast (2020-2032)
8.1.2. Cartesian coordinate robots
8.1.2.1. Market Revenue and Volume Forecast (2020-2032)
8.1.3. Cylindrical-coordinate robots
8.1.3.1. Market Revenue and Volume Forecast (2020-2032)
8.1.4. Spherical Coordinate robots
8.1.4.1. Market Revenue and Volume Forecast (2020-2032)
8.1.5. SCARA robots
8.1.5.1. Market Revenue and Volume Forecast (2020-2032)
8.1.6. Others
8.1.6.1. Market Revenue and Volume Forecast (2020-2032)
Chapter 9. Global Industrial Robotics Market, By Application
9.1. Industrial Robotics Market Revenue and Volume, by Application, 2023-2032
9.1.1. Welding & Soldering
9.1.1.1. Market Revenue and Volume Forecast (2020-2032)
9.1.2. Material Handling
9.1.2.1. Market Revenue and Volume Forecast (2020-2032)
9.1.3. Assembling & Disassembling
9.1.3.1. Market Revenue and Volume Forecast (2020-2032)
9.1.4. Dispensing
9.1.4.1. Market Revenue and Volume Forecast (2020-2032)
9.1.5. Processing
9.1.5.1. Market Revenue and Volume Forecast (2020-2032)
9.1.6. Others
9.1.6.1. Market Revenue and Volume Forecast (2020-2032)
Chapter 10. Global Industrial Robotics Market, By End-User
10.1. Industrial Robotics Market Revenue and Volume, by End-User, 2023-2032
10.1.1. Automotive
10.1.1.1. Market Revenue and Volume Forecast (2020-2032)
10.1.2. Electrical & Electronics
10.1.2.1. Market Revenue and Volume Forecast (2020-2032)
10.1.3. Metals & Machinery
10.1.3.1. Market Revenue and Volume Forecast (2020-2032)
10.1.4. Plastics, Rubbers, & Chemicals
10.1.4.1. Market Revenue and Volume Forecast (2020-2032)
10.1.5. Food & Beverages
10.1.5.1. Market Revenue and Volume Forecast (2020-2032)
10.1.6. Precision Engineering & Optics
10.1.6.1. Market Revenue and Volume Forecast (2020-2032)
10.1.7. Pharmaceuticals & Cosmetics
10.1.7.1. Market Revenue and Volume Forecast (2020-2032)
10.1.8. Others
10.1.8.1. Market Revenue and Volume Forecast (2020-2032)
Chapter 11. Global Industrial Robotics Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Volume Forecast, by Type (2020-2032)
11.1.2. Market Revenue and Volume Forecast, by Application (2020-2032)
11.1.3. Market Revenue and Volume Forecast, by End-User (2020-2032)
11.1.4. U.S.
11.1.4.1. Market Revenue and Volume Forecast, by Type (2020-2032)
11.1.4.2. Market Revenue and Volume Forecast, by Application (2020-2032)
11.1.4.3. Market Revenue and Volume Forecast, by End-User (2020-2032)
11.1.5. Rest of North America
11.1.5.1. Market Revenue and Volume Forecast, by Type (2020-2032)
11.1.5.2. Market Revenue and Volume Forecast, by Application (2020-2032)
11.1.5.3. Market Revenue and Volume Forecast, by End-User (2020-2032)
11.2. Europe
11.2.1. Market Revenue and Volume Forecast, by Type (2020-2032)
11.2.2. Market Revenue and Volume Forecast, by Application (2020-2032)
11.2.3. Market Revenue and Volume Forecast, by End-User (2020-2032)
11.2.4. UK
11.2.4.1. Market Revenue and Volume Forecast, by Type (2020-2032)
11.2.4.2. Market Revenue and Volume Forecast, by Application (2020-2032)
11.2.4.3. Market Revenue and Volume Forecast, by End-User (2020-2032)
11.2.5. Germany
11.2.5.1. Market Revenue and Volume Forecast, by Type (2020-2032)
11.2.5.2. Market Revenue and Volume Forecast, by Application (2020-2032)
11.2.5.3. Market Revenue and Volume Forecast, by End-User (2020-2032)
11.2.6. France
11.2.6.1. Market Revenue and Volume Forecast, by Type (2020-2032)
11.2.6.2. Market Revenue and Volume Forecast, by Application (2020-2032)
11.2.6.3. Market Revenue and Volume Forecast, by End-User (2020-2032)
11.2.7. Rest of Europe
11.2.7.1. Market Revenue and Volume Forecast, by Type (2020-2032)
11.2.7.2. Market Revenue and Volume Forecast, by Application (2020-2032)
11.2.7.3. Market Revenue and Volume Forecast, by End-User (2020-2032)
11.3. APAC
11.3.1. Market Revenue and Volume Forecast, by Type (2020-2032)
11.3.2. Market Revenue and Volume Forecast, by Application (2020-2032)
11.3.3. Market Revenue and Volume Forecast, by End-User (2020-2032)
11.3.4. India
11.3.4.1. Market Revenue and Volume Forecast, by Type (2020-2032)
11.3.4.2. Market Revenue and Volume Forecast, by Application (2020-2032)
11.3.4.3. Market Revenue and Volume Forecast, by End-User (2020-2032)
11.3.5. China
11.3.5.1. Market Revenue and Volume Forecast, by Type (2020-2032)
11.3.5.2. Market Revenue and Volume Forecast, by Application (2020-2032)
11.3.5.3. Market Revenue and Volume Forecast, by End-User (2020-2032)
11.3.6. Japan
11.3.6.1. Market Revenue and Volume Forecast, by Type (2020-2032)
11.3.6.2. Market Revenue and Volume Forecast, by Application (2020-2032)
11.3.6.3. Market Revenue and Volume Forecast, by End-User (2020-2032)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue and Volume Forecast, by Type (2020-2032)
11.3.7.2. Market Revenue and Volume Forecast, by Application (2020-2032)
11.3.7.3. Market Revenue and Volume Forecast, by End-User (2020-2032)
11.4. MEA
11.4.1. Market Revenue and Volume Forecast, by Type (2020-2032)
11.4.2. Market Revenue and Volume Forecast, by Application (2020-2032)
11.4.3. Market Revenue and Volume Forecast, by End-User (2020-2032)
11.4.4. GCC
11.4.4.1. Market Revenue and Volume Forecast, by Type (2020-2032)
11.4.4.2. Market Revenue and Volume Forecast, by Application (2020-2032)
11.4.4.3. Market Revenue and Volume Forecast, by End-User (2020-2032)
11.4.5. North Africa
11.4.5.1. Market Revenue and Volume Forecast, by Type (2020-2032)
11.4.5.2. Market Revenue and Volume Forecast, by Application (2020-2032)
11.4.5.3. Market Revenue and Volume Forecast, by End-User (2020-2032)
11.4.6. South Africa
11.4.6.1. Market Revenue and Volume Forecast, by Type (2020-2032)
11.4.6.2. Market Revenue and Volume Forecast, by Application (2020-2032)
11.4.6.3. Market Revenue and Volume Forecast, by End-User (2020-2032)
11.4.7. Rest of MEA
11.4.7.1. Market Revenue and Volume Forecast, by Type (2020-2032)
11.4.7.2. Market Revenue and Volume Forecast, by Application (2020-2032)
11.4.7.3. Market Revenue and Volume Forecast, by End-User (2020-2032)
11.5. Latin America
11.5.1. Market Revenue and Volume Forecast, by Type (2020-2032)
11.5.2. Market Revenue and Volume Forecast, by Application (2020-2032)
11.5.3. Market Revenue and Volume Forecast, by End-User (2020-2032)
11.5.4. Brazil
11.5.4.1. Market Revenue and Volume Forecast, by Type (2020-2032)
11.5.4.2. Market Revenue and Volume Forecast, by Application (2020-2032)
11.5.4.3. Market Revenue and Volume Forecast, by End-User (2020-2032)
11.5.5. Rest of LATAM
11.5.5.1. Market Revenue and Volume Forecast, by Type (2020-2032)
11.5.5.2. Market Revenue and Volume Forecast, by Application (2020-2032)
11.5.5.3. Market Revenue and Volume Forecast, by End-User (2020-2032)
Chapter 12. Company Profiles
12.1. ABB
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. FANUC CORPORATION
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. KUKA AG
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. YASKAWA ELECTRIC CORPORATION
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Comau S.p.A.
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. Seiko Epson Corporation
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. Kawasaki Heavy Industries, Ltd
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. Mitsubishi Electric Corporation
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Staubli International AG.
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. Universal Robots
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers