Growth in adoption of Industrial Robots by Electrical and Electronics Industry is anticipated to escalate the Industrial Robotics Market at a CAGR of 14.2%
Published Date : 21/02/2018
Report : Industrial Robotics Market to 2025 - Global Analysis and Forecasts by Types (Articulated, Cartesian, SCARA, and Collaborative); by Function (Soldering & Welding, Material Handling, Assembling & Disassembling, Painting & Dispensing, Milling, and Cutting & Processing) and Industry (Automotive, Medical & Pharmaceuticals, Electrical & Electronics, Rubber & Plastics, Metal & Machinery, and Food & Agriculture)
Latest market study on "Industrial Robotics Market to 2025 by Component by Types (Articulated, Cartesian, SCARA, and Collaborative); by Function (Soldering & Welding, Material Handling, Assembling & Disassembling, Painting & Dispensing, Milling, and Cutting & Processing) and Industry (Automotive, Medical & Pharmaceuticals, Electrical & Electronics, Rubber & Plastics, Metal & Machinery, and Food & Agriculture) - Global Analysis and Forecast?, the Industrial Robotics Market is estimated to reach US$ 48166.9 million by 2025 from US$ 16847.6 million in 2017. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
Browse market data tables and in-depth TOC of the Global INDUSTRIAL ROBOTICS Market (2016-2025)
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Asia Pacific holds the largest market for industrial robots. The manufacturing industry in the developing countries of Asia Pacific have experienced a seismic shift over the years, as they have established themselves as serious players, which has subsequently create a threat for the established manufacturers with their firm foothold in the developed nations. The Asian manufacturing sector is known to rapidly adopt the innovation accelerators that includes robotics along with the emerging cloud and mobility technologies. Over the years, the manufacturing spending of the region has grown significantly and is further anticipated to grow at a highest estimated growth rate. This dramatic growth in the manufacturing spends and adoption of novel technologies are the key factors fueling the demand for industrial robots.
The use of industrial robots by the electrical & electronics industry is experiencing a very high adoption. Majority of the manufactures in the electrical & electronics industry are located in APAC regions particularly, in countries such as Japan, Taiwan, South Korea, and China. All of the mentioned companies are noticing a significant adoption of industrial robots in the electrical & electronics industry. The growing demand for consumer electronics such as smartphones, tablets, and desktops owing to increasing affordability and decreasing prices of these products, is influencing the market growth. The labor costs of the countries where these companies are located is constantly rising. For achieve better productivity and sustain in the competitive market, the electrical & electronics manufacturers are deploying industrial robots in their manufacturing facilities. For instance, in 2016, Foxconn Electronics, a Taiwanese manufacturing company of electronic brands such as Apple's iPhone, installed replaced 60,000 workers with industrial robots. China and South Korea comprises of the largest market share of industrial robots in the electrical & electronics industry.
Furthermore, the governments of the various countries in APAC region are taking initiatives to bolster their robotics industry growth. Some of these initiatives include 'Make in China 2025' and 'Robotics Industry Development Plan', Japan's 'Robot Revolution' and new robot strategy, and Singapore's 'National Robotics Program' among others. Some of the major players operating in the global Industrial Robotics market includes ABB Ltd., Kawasaki Heavy Industries, Ltd., Yaskawa Electric Corporation, Fanuc Corporation, Kuka AG, Mitsubishi Electric Corporation, Denso Corporation, Comau SpA, Nachi-Fujikoshi Corp. and Universal Robots A/S among others.
The report segments the global Industrial Robotics market as follows:
Global Industrial Robotics Market- By Types
Global INDUSTRIAL ROBOTICS Market- By Function
Soldering & Welding
Assembling & Disassembling
Painting & Dispensing
Cutting & Processing
Global INDUSTRIAL ROBOTICS Market- By Industry
Medical & Pharmaceuticals
Electrical & Electronics
Rubber & Plastics
Metal & Machinery
Food & Agriculture
Global INDUSTRIAL ROBOTICS Market- By Geography
Rest of Europe
Asia Pacific (APAC)
Rest of APAC
Middle East & Africa (MEA)
Rest of MEA
South America (SA)
Rest of SA