The Industrial Robotics Market is expected to grow from USD 38.11 Billion in 2016 to USD 71.72 Billion by 2023, at a CAGR of 9.60% between 2017 and 2023. The increase in investments for automation in various industries, such as automotive; electrical and electronics; and metals and machinery, and the growing demand for industrial robotics systems from small and medium-scale enterprises in developing countries are the key factors driving the market.
Among all the major industries where industrial robotics systems are adopted, the industrial robotics market for the metals and machinery industry is expected grow at a significant rate during the forecast period. The growing demand for industrial robots in sectors such as agriculture, packaging, material handling Adrian Peterson Kids Jersey , and machine tools for achieving automatization is the key factor expected to propel the growth of the industrial robotics market for the metals and machinery industry during the forecast period.
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As of 2016, traditional industrial robots held a major share of the industrial robotics market. However, the market for collaborative robots is expected to grow at the highest CAGR between 2017 and 2023. As collaborative robots are cost-effective and best suited for small and medium-scale manufacturing industries, the adoption rate of collaborative robots is expected to grow significantly during the forecast period.
Articulated robots are expected to hold a major share of the traditional industrial robots market, and the market is expected to grow at a significant rate during the forecast period. With the increased payload capacity, work envelope, reliability Adrian Peterson Youth Jersey , and speed, articulated robots are being adopted for various industrial applications, such as welding, painting, assembly, packaging, palletizing Adrian Peterson Womens Jersey , depalletizing, machine tending, sealing, gluing, cutting, cleaning, deburring Authentic Adrian Peterson Jersey , die casting, grinding, polishing, material handling, case packing, pick and place, pre-machining Adrian Peterson Jersey , and press brake tending. The high rate of adoption of articulated robots for a myriad of applications is the key factor driving the articulated robots market.
Articulated robots expected to lead traditional industrial robots market between 2017 and 2023
Articulated robots held a major share of the industrial robots market in 2016. The traditional industrial robots market for articulated robots is expected to grow at the highest CAGR between 2017 and 2023. The structure and operational capabilities of articulated robots make them highly adoptable for various industrial applications, such as pick and place, palletizing, painting, and welding. This is expected to fuel the growth of the traditional industrial robots market for articulated robots.
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There would be a significant rise in the market for the metals and machinery industry between 2017 and 2023. The growth of the industrial robotics market for the metals and machinery industry is attributed to the expected growth in the adoption of industrial robots for applications such as drilling, casting, welding, forging, bending, stamping, grinding, plasma cutting, and laser cutting in the metals and machinery industry.
APAC expected to capture largest share of industrial robotics market during forecast period
APAC is expected to hold the largest market share between 2017 and 2023. The low cost of production, enabling various manufacturers to set up their manufacturing units in APAC#7# especially in countries such as China, Korea, and India, is the key factor driving the market for industrial robotic systems in APAC.
The present market is dominated by players such as FANUC Corporation (Japan), ABB Ltd. (Switzerland), Yaskawa Electric Corporation (Japan), Kawasaki Heavy Industries Ltd. (Japan)#8# KUKA AG (Germany), and DENSO CORPORATION (Japan), among others.
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