NEWARK, Del, July 07, 2024 (GLOBE NEWSWIRE) -- According to a Future Market Insights (FMI), the projected global market size for industrial robot controllers is expected to reach USD 1081.6 Million by 2024, and is set to grow at a CAGR of 9.1% from 2024 to 2034. It is estimated that worldwide sales of industrial robot controllers will total USD 2584.2 Million by 2034, driven by increasing adoption of robot control software and automation solutions.
India is expected to dominate the industrial robot controller market by 2034, with a CAGR of 13.6%. China, Spain, and France are likely to follow closely behind. The Asia Pacific region is also expected to become a prominent market for industrial automation. Single axis and articulated robots are expected to dominate the market. Cybersecurity concerns are increasing due to complex robot controllers.
Automation trends drive demand for advanced industrial robot controllers, requiring advanced, connected, and adaptable systems for complex robotic systems and collaborative robotics, ensuring productivity and safe human-robot interaction. Industrial robot controllers revolutionize operator interaction with robotic automation systems, prioritizing ease of use and simple design as well as simplifying programming to reduce the learning curve for new operators.
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Industrial robot controllers are being utilized by automakers to improve operational efficiency, streamline workflows, smoothen production processes, reduce human labor requirements, increase productivity, and address evolving market needs. Companies in the industrial robotic controller market thrive by effectively managing expenses, providing value-added solutions, and anticipating industry trends to meet evolving client requirements.
Is the Growing Penetration of Robotics within the Industrial Sector Facilitating Industrial Robot Controller Market Growth?
Robotics is playing an integral part in transforming the ways industries work conventionally. With the trend of industry, 4.0 creating deeper inroads across the industrial sector, automation, and robotics are gaining massive popularity across the globe.
Increasing deployment of advanced robots for automating manufacturing processes such as assembling, painting, welding, and lifting among others by industrial players is anticipated to favor growth in the market.
Also, various automotive manufacturers are increasingly investing in advanced robotic technologies for accelerating their production process along with decreasing human intervention for reducing errors. For instance, BMW i Ventures announced investing in a leading provider of vision software for logistics robots, Plus One Robotics, to automate the vehicle supply chain and logistics in April 2021.
As industrial robot controllers are used to controlling the robotic functions and oversee the industrial robots deployed in the automated manufacturing processes, a multiplicity of such developments are estimated to create high revenue generation opportunities in the market.
Key Takeaways from the Market Report:
- The industrial robot controller market is set to reach USD 2584.2 Million by 2034 with a CAGR of 9.1%.
- By axis type, single axis is leading the robot controller market with a value share of 47.4% in 2024.
- Based on robot type, articulated robot accounted for a market share of 37.4% in 2024.
- India is estimated to record a CAGR of 13.6% between 2024 and 2034.
- China is anticipated to hold the leading position and show steady growth at a CAGR of 10.2% by 2034.
“Small-scale industries increasingly demand collaborative robots due to their low costs and ease of use. Increasing government initiatives across developing nations to promote the adoption of automation are projected to create new opportunities for key players,” – opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
Who’s Winning?
The industrial robotic controller industry is highly competitive, with key players like ABB, FANUC, and Siemens offering a wide range of robotic components. Companies are increasingly investing in research and development to create innovative features and meet evolving customer demands.
Leading companies are progressively expanding into emerging markets through strategic alliances and partnerships. Companies that provide comprehensive solutions build long-lasting customer relationships and offer after-sales support will experience growth in the industry. Success in the market highly depends on companies' ability to differentiate themselves, anticipate trends, and offer innovative solutions.
Industry Updates:
- ABB, headquartered in Zurich, in June 2024, announced the release of its OmniCore platform for control across its robotics line for endless value creation.
- Dongfeng Motor, headquartered in Wuhan, in June 2024, signed a partnership contract with UBtech Robotics, headquartered in Shenzhen, to employ their humanoid robots in automotive manufacturing tasks.
Key Manufacturers of Industrial Robot Controllers:
- Stäubli International AG
- Mitsubishi Electric Corporation
- OMRON Corporation
- DENSO Wave Incorporated
- SEPRO Group
- WAGO
- Motion Controls Robotics Inc.
- NexCOM Inc.
- Wynright Corporation
- KUKA AG
- Yaskawa Electric Corporation
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Integration of IoRT, Robotic, and AI to Bode well for the Industrial Robot Controllers Market Growth
Integration of advanced technologies such as artificial intelligence (AI) and the internet of things (IoT) is taking the industrial robots sector to another level. Thus, numerous industrial robot controller manufacturers are aiming at entering into collaboration with leading IoT platform-based companies to develop novel products integrated with innovative Internet of Robotic Things (IoRT) technologies.
For instance, FANUC, a Japanese provider of automation products and services, entered into an agreement with providers of industrial automation solutions Rockwell Automation and Cisco to develop an open platform, FANUC Intelligent Edge Link and Drive (FIELD). The platform uses advanced sensors and machine learning technologies for effectively controlling collaborative industrial robots.
A slew of such new product launches in the country is projected to favor the growth in the Japanese industrial robot controller market.
Get More Insights into the Industrial Robot Controller Market Report:
In its latest report, Future Market Insights (FMI) offers an unbiased analysis of the industrial robot controller market, providing historical data from 2019 to 2023 and forecast statistics for the period 2024 to 2034. To understand the industry potential, growth, and scope, the industry is segmented based on axis type (single axis, four axis, six axis, and other axis), robot type (SCARA robot, delta robot, Cartesian/gantry robot, articulated robot, collaborative robot, and dual arm robot), and regions.
Industrial Robot Controller Market Segmentation Analysis:
By Axis Type:
- Single Axis
- Four Axis
- Six Axis
- Other Axis
By Robot Type:
- SCARA Robot
- Delta Robot
- Cartesian/Gantry Robot
- Articulated Robot
- Collaborative Robot
- Dual Arm Robot
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Middle East
- Africa
- South Asia
- East Asia
Report Preview: https://www.futuremarketinsights.com/reports/industrial-robot-controllers-market
About Future Market Insights – Industrial Automation:
The Industrial Automation division of Future Market Insights offers a novel approach and innovative perspective in analyzing the industrial automation domain. Comprehensive coverage of capital, portable, process, construction, industrial, and special-purpose machinery across the manufacturing sector and distinctive analysis of the installed base, consumables, replacement, and USP-feature-application matrix make us a pioneering voice in the industry. We are preferred associates with established as well as budding industry stakeholders and channel partners when it comes to sustaining, growing, and identifying new revenue prospects.
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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