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At a CAGR of 14.3% The Industrial Robotics Market Size is Expected to Hit USD 30.8 billion by 2027 during [2022-2027] Globally


MarketsandMarkets Research Pvt. Ltd.

Chicago, Nov. 18, 2022 (GLOBE NEWSWIRE) — The report Industrial Robotics Market by Type (Traditional, Collaborative Robots), Component, Payload, Application (Handling, Processing), Industry (Automotive, Food & Beverages) and Region (North America, Europe, APAC, RoW) – Global Forecast to 2027″, Rising demand for collaborative robots across industries, anticipated shortage of skilled labor in manufacturing industries, and growing adoption of Industry 4.0 are factors expected to boost the growth of the industrial robotics market in the next five years. However, high cost of deployment for SMEs and safety concerns related to industrial robotics systems are projected to be the key challenges and restraining factors for the industry players.

[383 Pages Report] According to MarketsandMarkets, the industrial robotics market is projected to grow from USD 15.7 billion in 2022 to USD 30.8 billion by 2027; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 14.3% from 2022 to 2027.

Key players in the Industrial Robotics Industry

  • Maxar Technologies (US),

  • Planet Labs PBC (US),

  • L3 Harris Technologies (US),

  • Airbus SE (Netherlands),

  • Trimble, Inc. (US) among others

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“Browse in-depth TOC on “ Industrial Robotics Size

279– Tables
49 – Figures

291 – Pages

ABB is a pioneer in robotics, machine automation and digital services, providing innovative solutions for a diverse range of industries, from automotive to electronics to logistics. The company is a leading supplier of industrial robots and modular manufacturing systems and services. Its operations are organized through four business divisions—Electrification, Motion, Industrial Automation, and Robotics & Discrete Automation. All industrial robots offered by the company are handled by its Robotics & Discrete Automation business segment. More than 300,000 ABB robots are estimated to be installed worldwide. ABB’s robotics solutions are used in industries such as automotive, metal fabrication, foundry, plastics, food and beverages, chemicals, pharmaceuticals, consumer electronics, solar, and wood. They are suited to welding, material handling, painting, picking, packing, and palletizing applications.

Yaskawa operates through four primary business segments: motion control, robotics, system engineering, and other. The robotics segment supplies industrial robots for various manufacturing applications (such as material handling, welding, and painting) and is currently its second-largest business segment. The company introduced its first industrial robots in 1977 and offers them under the MOTOMAN brand. Yaskawa offers both traditional and collaborative industrial robots, including articulated and parallel robots. The payload capacity of the robots ranges from 0.5 kg to 900 kg. The company has also developed the i3-Mechatronics digital data solution for functions such as data visualization, automatic robot task allocation and motion path generation, AI picking function, and centralized control of peripheral devices. Yaskawa’s industrial robots contribute to improving productivity and quality through the stable operation of customers’ production sites.

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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.

Automotive to witness significant share in the industrial robotics market

Automotive hold a significant share in the industrial robotics end use industry segment. The automotive industry is one of the largest users of industrial robots, although it is gradually losing its share to other industries. Manufacturers such as BMW AG (Germany), Nissan (Japan), and Bajaj Auto (India) have either introduced or replaced traditional industrial robots with collaborative robots for applications such as material handling and dispensing. The Gestamp (Spain) plant in Bielefeld is using a fully automatic arc welding system from KUKA Systems to ensure quality manufacturing of metal automotive components. KUKA (Germany) provides at least 18 types of robots for the auto industry that do everything from laser welding and washing to creating seat elements for BMWs using 3D geometry. Acieta (US) has installed more than 4,400 of its industrial automotive manufacturing robots throughout plants in North America.

Related Reports:

  1. The Service Robotics Market is projected to grow from USD 36.2 billion in 2021 to reach USD 103.3 billion by 2026; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 23.3% from 2021 to 2026.

  2. The Robot End Effector Market is projected to grow from USD 1.9 billion in 2021 to USD 4.4 billion by 2026; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 18.8% from 2021 to 2026

  3. The Collaborative Robot (Cobot) Market is projected to grow from USD 1.1 Billion in 2022 to USD 9.2 Billion by 2028, at a CAGR of 41.5% during the forecast period from 2022 to 2028

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