A new market study, titled “ Global Industrial Robotics Market, By Product (Cartesian, Articulated, SCARA, and Cylindrical), By Application (Electrical & Electronics, Automotive, Chemical, Machinery, Metals, Food and Beverages, and Precision & optics) and Geography (NA, EU, APAC, and“been featured on WiseGuyReports.

REPORT HIGHLIGHT

The industrial robotics market is estimated to represent a global market of USD 32.7 billion by 2017 with growth rate of 5.3%.

Market Dynamics

The global industrial robotics market traces its history from the early 1960s when the first large-scale application of robots was perfected for automation of automotive industry. Since then, it had a thriving journey by providing the manufacturing sector with programmable and flexible machines for complex tasks. The growth of the industrial robotics industry continues at an impressive place, majorly driven by rising labor charges across the globe. This would, in turn, have enforced companies to replace labor with machines. This growing demand for these products is justified by the recent statistics released by the International Federation of Robotics (IFR). The organization stated that the global sales of industrial robots recorded 387,000 units in 2017, up 31% compared to the previous year statistics. Further, between 2012 and 2017, the average sales of robotic products have increased at 19% CAGR.

Furthermore, the development of collaborative machines, the launch of application-specific machines coupled with growing penetration in SMEs is the key factors augmenting the global industry. The lucrative opportunity for the growth of this market lies with small and medium-sized enterprises (SMEs) (manufacturing units), which are economical in this globalized world. Other factors such as growing non-automotive applications and associated benefits such as reduction in manufacturing costs and increased productivity are some potential factors stoking the industry growth. However, lack of technical skills coupled with high cost hampers the market growth to some extent.

Product Takeaway

The robotics market revolves around the four key market parameters; namely products, applications, functions, and geography. Based on products, the industry is bifurcated as Cartesian (gantry), Articulated, SCARA, Cylindrical, and others. This classification of robots is done on the basis of their mechanical structure. Among its various types, articulated, SCARA, and Cartesian robots are majorly used by industries. Articulated robots continue to hold a major share of the industrial robots market in 2017.

Application Takeaway

Depending upon applications, the industry is segmented as Electrical & Electronics, Automotive, Chemical, Machinery, Metals, Food and Beverages, Precision and optics and others. Among which, automotive and electrical & electronics sector will continue to capture the highest share, i.e. more than 55% in an anticipated year. In a recent trend, collaborative robotics is more frequently used in the automotive industry. Integration of robots with production processes helps manufacturer in improving productivity, minimizing overheads and offers a high degree of flexibility as compared to the outcome of manual labor that consequently propels this application market.

Regional Takeaway

ALSO READ https://www.benzinga.com/pressreleases/20/08/ab17235460/global-indu...

Regionally, with revenue of more than USD 25 billion in 2017, the Asia Pacific region is considered to be the strongest individual market. Japan, South Korea and China are projected to record significant revenue. Robot industries in Asia Pacific countries such as Korea, Taiwan and China are supported by their governments through programs addressing tax incentives, R&D funding, loans, and investment in skills. On another side, developed regions such as Europe and North America accounted for the significant revenue share. Rising demand for automation in industrial production coupled with the increasing standard of living will push the industry demand upward in these regions.

Key Vendor Takeaway

Some of the major competing players in this market are Kuka AG, ABB Ltd., Yaskawa, Kawasaki Robotics, Adept Technologies, Yamaha Robotics, Toshiba Machine, and Panasonic Welding Solutions Ltd. Companies who are investing in industrial robots are realizing substantial financial benefits, which, in turn, led to surge in installation of robots in contemporary manufacturing plants.

The market size and forecast for each segment and sub-segments has been considered as below:

Historical Year – 2014 & 2016

Base Year – 2017

Estimated Year – 2018

Projected Year – 2025

TARGET AUDIENCE

Traders, Distributors, and Suppliers

Manufacturers

Government and Regional Agencies and Research Organizations

Consultants

Distributors

SCOPE OF THE REPORT

The scope of this report covers the market by its major segments, which include as follows:

MARKET, BY PRODUCT

Cartesian (Gantry) Robot

Articulated Robot

SCARA Robot

Cylindrical Robot

Others

MARKET, BY APPLICATION

Electrical & Electronics

Automotive

Chemical

Machinery

Metals

Food and Beverages

Precision and optics

Others

MARKET, BY REGION

North America

U.S.

Canada

Europe

Germany

France

Rest of Europe

Asia Pacific

India

China

Rest of APAC

Rest of the World

Middle East and Africa

Latin America

FOR MORE DETAILS https://www.wiseguyreports.com/reports/5743960-industrial-robotics-...

Contact Us:

NORAH TRENT

[email protected]

Ph: +162-825-80070 (US)

Ph: +44 203 500 2763 (UK)