What’s Driving the Growth of Industrial Robotics Market? | Key Players ABB, DENSO, Epson America Inc., Kawasaki Heavy Industries, Ltd., Mitsubishi Electric US, Inc., Panasonic Welding Systems Co. Ltd., Universal Robots A/S, Yamaha Motor Co., Ltd.

Industrial Robotics Market is projected to reach a revenue of over USD 80 billion by 2024. The rapid growth of the industrial sector across the world and the high adoption of automation technologies as a part of the manufacturing process are the major factors propelling the industry growth during the forecast timeframe.

The high adoption of automation technology is projected to aid in the growth of the industrial robotics market. The usage of these technologies can aid in the reduction of the development time and the exorbitant variable costs such as labor and electricity prices. In regions including Western Europe and North America, the labor costs are very high, over USD 38 hourly wage in Germany.

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The segmentation of the industrial robotics market by product indicates that collaborative robots are expected to have the highest growth rate over the forecast timeframe. These have a large work envelope and high usage as they allow employees to work alongside and are priced significantly lower as compared to its counterparts. Additionally, the adoption of the collaborative industrial robotics market decreases human idle time by 85% and substantially boosts the efficiency of the overall manufacturing process.

The major manufacturers covered in this report: -
1. ABB
2. DENSO
3. Epson America Inc.
4. Kawasaki Heavy Industries, Ltd.
5. KUKA AG
6. Mitsubishi Electric US, Inc.
7. OTC DAIHEN, Inc.
8. Panasonic Welding Systems Co. Ltd.
9. Universal Robots A/S
10. Yamaha Motor Co., Ltd.

Some Points From Table of Content: -

Chapter 3 Industrial Robotics Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2013 - 2024
3.2.1 Industry 4.0
3.3 Industry ecosystem analysis
3.3.1 Distribution channel analysis
3.3.2 Vendor matrix
3.3.3 Price trend analysis and cost structure breakdown
3.4 Technology & innovation landscape
3.4.1 Development of lightweight robots
3.4.2 Autonomous mobile dual arm robot
3.4.3 Vision guided robots
3.4.4 Cloud robotics and big data
3.4.5 Robot programming software
3.5 Regulatory landscape
3.5.1 RIA 15.06-2013
3.5.2 RoboLaw EU
3.5.3 Robotics and Safety regulations by Occupational Safety and Health Administration (OSHA)
3.5.4 EN ISO 13849-1 standard
3.6 Industry impact forces
3.6.1 Growth drivers
3.6.1.1 Rising labour costs and inconveniences of employing manual workforce in North America and Europe
3.6.1.2 Government initiatives aiding the growth of the local manufacturing in South-East Asia
3.6.1.3 Rise in SMEs and their growing demand for automation in Europe and Asia Pacific
3.6.1.4 High growth of automation across the automotive and electronic industries in Asia Pacific
3.6.1.5 Low robot density in the Asia Pacific
3.6.2 Industry pitfalls and challenges
3.6.2.1 High initial costs and presence of second-hand and refurbished industrial robot market
3.6.2.2 Safety hazards associated with the usage of industrial robots

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The end-use segmentation of the industrial robotics market indicates that the electrical and electronics segment will account for a high growth. The increase in the disposable income and the economic prosperity stemming from the industrial boom across various regions, primarily in South-East Asia, are contributing to the high proliferation of these devices.

Competitive advantage and reduced per-hour cost as compared to human results will augment the North America industrial robotics market growth. Major players are developing affordable, and compact energy-efficient solutions to access a wider customer base. The rise of outsourced manufacturing activities and the increase in SMEs in the Asia Pacific region are contributing to the high industry demand of the in the region.

In this regard, one of the trends that remains to be seen in industrial robotics market is the demand-price relationship for these robots, particularly in the emerging economies. All in all, the profitability scope seems humongous for the industrial robotics market in the coming years, with a target global share of USD 80 billion by 2024.

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