The Worldwide Industrial Robotics Industry is Expected to Reach $116 Billion by 2030 -

2022-05-14 20:55:54 By : Ms. May Xu

DUBLIN, May 03, 2022--(BUSINESS WIRE)--The "Industrial Robotics Market by Type, Industry, and Function: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to's offering.

The global industrial robotics market was $37,876.0 million in 2020, and is expected to reach $116,848.7 million by 2030, with a CAGR of 11.7% from 2021 to 2030.

Industrial robot is a type machine that has its own control system and is not operated manually through machines. industrial robot are reprogrammable, multipurpose, axis free, and have physical alteration. The reprogrammable feature of robot helps in performance under various environmental conditions and as per the usage over the industry, while the multipurpose feature helps in adapting to various applications and working automatically into the axis that defines the motion or movement of the robot.

Industrial robots are generally classified into cylindrical robot, parallel robot, articulated robot, SCARA robot, and linear robot. Linear robot includes- the gantry and the cartesian robot. The cartesian robot are those whose arms features three types of prismatic joints and whose robot axes are coincident with reference to the cartesian coordinate system. SCARA robot has two rotary joints that are parallel. The articulated robot has minimum three rotary joints, whereas in case of cylindrical robot, the axes form the cylindrical coordinate system Industrial robot are used for different industrial applications like packaging, labelling, product inspection, picking, testing, assembling, painting, and welding of different components

The global industrial production output has plummeted in the recent years. The industrial robot have witnessed sluggish demand in conventional industries such as automobiles and heavy engineering. However, increase in need for automation in non-conventional areas, such as micro-electronics, has fostered the market growth. Hence, an auxiliary channel utilizing industrial robotics has surfaced in the recent years. The heavy engineering sector drives the demand for industrial robotics.

The global industrial robotics market is impacted by several factors such as usage of industrial robotics in the manufacturing industry, increase in demand for automation activities in the industry, decrease in custom duties, and evolution of robotics & AI industry. Furthermore, high cost of industrial robotics solutions hinder the market growth.

The report provides an extensive analysis of the current trends, future estimations, and dynamics of the industrial robotics market

In-depth industrial robotics market analysis is conducted by estimations for the key segments between 2021 and 2030

Extensive analysis of the market is conducted by following key product positioning and monitoring of top competitors within the market framework

A comprehensive analysis of four major regions is provided to determine the prevailing opportunities

The market forecast analysis from 2021 to 2030 is included in the report

The key market players operating in the market are profiled in this report and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the market industry

High Labor Cost and Dearth of Skilled Human Workforce

Increase in Investments in R&D Activities

Availability of Affordable and Energy-Efficient Robots

High Initial Investment and Installation Costs

Evolving Robotics and AI Industry

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