Dublin, Aug. 19, 2024 (GLOBE NEWSWIRE) -- The "Global Industrial Robotics Market Report by Segment (Plastic & Chemical Products, Automotive Industry, Electrical & Electronics, Metal & Machinery, Food, and Others), Countries and Company Analysis, 2024-2032" report has been added to ResearchAndMarkets.com's offering.
Global Industrial Robotics market will rise a little above US$ 51.78 billion by 2032 rise to US$ 26.43 billion in 2023 growing at a CAGR of 7.69% from 2024 to 2032. This market is driven automotive industry is well-supported; the new F&B products are taking place; and the new technologies and products are emerging continuously. 
Automotive manufacturing is one of the largest segments of industrial robots where welding, painting, assembly, and material handling industries are popular uses. They increase productivity and output, save costs on employees, and considerably decrease the possibility of trademark infringement, employee mishaps, and occupational diseases. Humans cannot risk performing certain high precision operations such as welding, installation of microchips, and testing, hence, the use of robots in electronics manufacturing.
Some of the other applications are in the packaging and palletizing industry uses the robot for repetitive work especially in the food and beverage industries, while in the metal fabrication industry, the robot is useful in cutting, grinding and polishing of various items. In pharmaceuticals robots assist in drug manufacture, packing, handling and dispensing of toxic products, a factor that helps in minimizing on dangers that may occur.
Driving Forces of the Global Industrial Robotics Market
Increasing demand for manufacturing automation enhances efficiency, reduces costs, and improves product quality
The high demand for the application of automations in manufacturing processes is attributed to the possibility to enhance the efficiency, reduce the costs, and increase the quality of the final result. Industrial robots give a very impressive performance in terms of welding, painting, assembly, and material handling and the performance quality is equally impressive with high accuracy rates.
The automation of these operations enables companies to enhance the stream of production and ultimately the operation, productivity and company cost savings increase while the quality of the product is consistently upheld. With the rise of the technologies in automation across the world, industrial robots play an important role in enhancing the manufacturing operations as well as enabling competitive innovations in different industries.
Rapid developments in robotics technologies, including artificial intelligence, machine learning, and advanced sensors
Recent technological development in applied fields, AI, machine learning, and modern sensors are changing the dynamics of industrial robots. These technologies enhance robustness of robots to operate independently, intelligently and especially in the complex production processes. Big data in the context of building AI capacity enables robots to come up with real-time decisions and adjust assembly, inspection and logistic processes in view of real-time insights, thus increasing precision and quality.
Cognitive robotics techniques also make use of machine learning framework where robots learn from the experience; learn from the previous interactions and the processes get better with time. Measuring devices such as vision and tactile improve a robot's sensing ability to safely maneuver in these environments, or to manipulate objects with greater precision. Such technologies don't only improve and complement the operations of the industrial robots but also widen the practical uses of the technology in the several industries. They introduce change, enhance production efficiency and allow the manufacturers to attain higher levels of responsiveness and profitability in the international markets.
Global market globalization and scalability demands are driving global industrial robot adoption.
The globalization of markets for coupled with the need for mass production solutions, is the reason as to why industrial robots are being adopted across the globe. Industrial robots are therefore useful in ensuring that companies are able to adopt efficient automation systems especially as they embark on global expansion.
These robots help in mass production through the cutting down of costs occasioned by labor, proper utilization of time, and quality control. In this case, the use of industrial robots in manufacturing industries allows the producer to satisfy market needs regarding variety quickly and responses to a change in the economic environment quickly. Thus, the strategic incorporation of robotics in business is instrumental in driving productivity and operational flexibility that is crucial for prosperity in today's globalized and highly competitive economy.
Asia Pacific Industrial Robotics Market
The Asia Pacific industrial robotics market is experiencing robust growth driven by rapid industrialization, technological advancements, and increasing automation across various sectors. Countries like Japan, South Korea, and China are at the forefront of this expansion.
Industrial robotics is a continually evolving market worldwide and more specifically in the Asia Pacific making a fast and healthy growth rate because of increased industrialization, growth in technologies and automation across the industries. Major players involved in this expansion are the Asian countries such as Japan, South Korea, and China.
The occurrence of industrial robots installation is high in China due to its position as the largest manufacturing country in the world comprising of automotive, electronics, and logistics sectors. This growth is stimulated by the country's commitment to automation to enhance efficiency and measures of quality. Being one of the most technologically advanced nations in the world, Japan is not resting on its oars as regards industrial robotization; it has shifted a notch higher, especially in precision manufacturing and high level robotization in health and electronics sectors.
South Korea is another region that is strategically important and famous for its industries involved in Robotics and automation. Manufacturers in the country heavily use the robots in automobile production, microchips, and other electronic devices.
Global Industrial Robotics Company Analysis:
The leading players in the Industrial Robotics market include KUKA, iRobot Corporation, Intuitive Surgical Inc., Panasonic Corporation, Fanuc, ABB Ltd, and Stryker Corporation.
Global Industrial Robotics Company News:
May 2024: At Automate 2024, ABB, a producer of industrial robots, presented its most recent modular giant robots. These robot arms now offer 46 different versions in addition to the previously introduced IRB 5710-5720 and IRB 6710-6740 models. These versions can handle weights between 70 and 620 kg or around 150 and 1,350 pounds.
March 2024: The MiR1200 autonomous pallet jack is the newest product that Mobile Industrial Robots has released. The MiR1200 Pallet Jack is outfitted with cutting-edge 3D vision technology and is intended to simplify labor-intensive material handling tasks. This robot can dynamically modify its path to ensure navigation even in obstructions like loose items on the ground or impediments hanging overhead.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 170 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $26.42 Billion |
| Forecasted Market Value (USD) by 2032 | $51.78 Billion |
| Compound Annual Growth Rate | 7.7% |
| Regions Covered | Global |
Key Players Analysis: Overview, Recent Development & strategies, Product Portfolio, Financial Insights
- KUKA
- iRobot Corporation
- Intuitive Surgical Inc.
- Panasonic Corporation
- Fanuc
- ABB Ltd.
- Stryker Corporation
Segments - Market & Volume has been covered from 6 viewpoints:
- Automotive Industry & Forecast
- Electrical & Electronics Industry & Forecast
- Metal & Machinery Industry & Forecast
- Plastic & Chemical Products
- Food Industry & Forecast
- Others
Countries - Market has been covered from 16 viewpoints:
- America
- United States
- Canada
- Mexico
- Others
- Europe
- France
- Germany
- Italy
- Spain
- Others
- Asia Pacific
- China
- India
- Japan
- Republic of Korea
- Thailand
- Others
- Rest of the World
For more information about this report visit https://www.researchandmarkets.com/r/w8h77t
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