Industrial Robotics Market Fastest-Growing Trends Analysis Hits $116.8 Billion by 2030

Industrial Robotics Market Expected to Reach $116.8 Billion by 2030

PORTLAND, OR, UNITES STATES, March 23, 2023 /EINPresswire.com/ -- Outlook of industrial robotics applications:

Industrial robotics is expected to be used in alternative application areas in growing markets. Electronics is a key area for penetration of industrial robotics and is witnessing significant growth. Another key application of industrial robotics is in the healthcare industry. Nanorobotics, a part of industrial robotics, is gaining momentum in healthcare and other niche markets. Nano robots help in mixing the right compound as per instructions and result in decreasing lead time, which, in turn, helps the company to meet the demand for medicines they are manufacturing from the consumer in the market.

According AMR:
The global industrial robotics market size was valued at $37.8 billion in 2020, and is expected to reach $116.8 billion by 2030, with a CAGR of 11.7% from 2021 to 2030.

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Drivers of Industrial Robotics:
The key factor accelerating the market for industrial robotics is a sudden spur in global industrial output. To emerge from a cyclical slump, the industrial robotics business requires some level of innovation, similar to the automobile or heavy engineering markets. . In addition, shift in political scenarios, such as in India, is expected to see an end to policy paralysis and a boost to industrial productivity, leading to a significant turnaround in the automobile industry as rise in automation in automobile industry will led to installation of industrial robots.

Increase in demand for automation along with reduction of duties on refurbished goods in Asia-Pacific fuels the market growth. In addition, cylindrical robots and other types of robots, such as customized and refurbished robots, are expected to grow at a significant pace in the future, due to the increase in demand in industrial sectors in Asia-Pacific.

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Major Players:
The major players profiled in the industrial robotics market include ABB, DAIHEN Corporation, Denso Corporation, Epson America, Inc., Fanuc Corporation, Kawasaki Heavy Industries Ltd., Kobe Steel, Ltd., Kuka AG, Mitsubishi Electric Corporation, and Yaskawa Electric Corporation. 
The industrial robotics market is segmented on the basis of type, industry, function, and region.

On the basis of type, it is segmented into articulated, cartesian, SCARA, cylindrical, and others.

By industry it is classified as automotive, electrical & electronics, chemical, rubber & plastics, machinery, food & beverage, and others.

On the basis of function, it is categorized into soldering & welding; materials handling; assembling & disassembling; painting & dispensing; milling, cutting, & processing; and others.

Regional Analysis:

Region wise, the industrial robotics market is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). In 2020, Asia-Pacific was the highest contributor to the global industrial robotics market share, and LAMEA is anticipated to secure a leading position during the forecast period.

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David Correa
Allied Analytics LLP
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