In the current business landscape, the global industrial robotics market is experiencing a remarkable surge, with a projected valuation anticipated to surpass an impressive US$220 billion by the conclusion of 2033. This unprecedented growth is propelled by a compelling Compound Annual Growth Rate (CAGR) of 18.9% over the ten-year forecast period from 2023 to 2033. The driving forces behind this upward trajectory are closely tied to the imperative for heightened productivity, particularly within high-volume production lines, with a notable impact on sectors such as semiconductor and electronic device manufacturing.
A significant trend shaping the evolution of the industrial robotics market is the pivotal role played by East Asia. By the year 2023, East Asia is poised to emerge as the most prosperous industrial robotics market, commanding over two-thirds of the total revenue share. This dominance underscores the escalating demand for automation and robotics solutions within the epicenter of global manufacturing hubs. This demand is intricately linked to the relentless pursuit of efficiency and precision in production processes, marking a transformative phase in the manufacturing industry.
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Emerging Technology and Industry 5.0: A Paradigm Shift Toward Human-Centric Growth
A new technological epoch is upon us, one that places paramount emphasis on worker well-being and leverages novel technologies for expansive growth. This shift unfolds while meticulously honoring the planet’s production thresholds. Enter Industry 5.0, a movement that seeks to reintegrate the human touch into the realms of production and development. Prognosticating optimal deployment of human creative intellectual capacities, Industry 5.0 is poised to catalyze lucrative prospects for collaborative robots (cobots).
Noteworthy Insights from the Industrial Robotics Market:
- United States Dominance: The global industrial robotics market is set to be led by the United States, anticipated to attain a valuation of $77.9 billion by 2033. This ascendancy is propelled by a robust compound annual growth rate (CAGR) of 18.7% during the forecast period. The demand surge for industrial robots within the high-tech electronics sector significantly bolsters this market expansion.
- China’s Significance: China emerges as a formidable player in the industrial robotics arena, with a projected valuation of $15.8 billion by 2033. A substantial growth rate of 18.2% CAGR over the next decade fuels this trajectory. The automotive industry’s remarkable growth underscores China’s ascent in the market.
- Japanese Market Dynamics: Japan’s market is slated to reach $12.9 billion by 2033, exhibiting a CAGR of 17.2% from 2023 to 2033. The market’s long-term drivers encompass burgeoning elderly care needs and the evolving population dynamics of yet-to-be retired baby boomers.
Noteworthy Market Developments by Key Players:
- In March 2022, Mitsubishi Electric Corporation unveiled an advanced industrial robotics system that empowers robots to execute tasks within intricate environments like food-processing plants. Fusing Mitsubishi Electric’s Maisart AI technologies, including high-precision speech recognition, this system streamlines work tasks. Operators hold the reins to fine-tune robot movements to meet specific requirements, with plans for commercialization in 2023.
- In October 2022, YASKAWA ELECTRIC CORPORATION inaugurated the Robotics Technology Center in Istanbul, Türkiye. Nestled in a pivotal industrial park within the city, the center showcases demonstration machines and operates systems. YASKAWA’s sustained investments in Türkiye affirm its commitment to involving customers in the development of products, technologies, and solutions spanning Europe.
Key Players:
- Yaskawa Electric Corporation
- FANUC Corporation
- Kawasaki Heavy Industries Ltd
- Kuka AG
- Mitsubishi Electric
- Teradyne Inc.
- ABB Ltd.
- Yamaha Motor Co., Ltd.
- Hirata, Corporation
- Denso Wave Incorporated
- Toshiba Machine Co. Ltd.
- OMRON Corporation
- Others
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Industrial Robotics Market by Category
By Product Type:
- SCARA Robots
- Delta Robots
- Cartesian Robots/ Gantry Robots
- Articulated Robots
- Collaborative Robots
- Dual-arm Robots
By Application:
- Assembly/Disassembly
- Clean Room
- Dispensing
- Handling Operations
- Processing/Cutting
- Welding
- Painting & Coating
- General Applications
By End Use:
- Automotive Industry
- Electrical/Electronics Industry
- Rubber & Plastics Industry
- Metal & Machinery
- Food & Beverages
- Plastic & Auxiliary Chemical Products
- Auxiliary Industries
- Bulk Commodities & Materials
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
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Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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