What's driving the Industrial Robotics Market Growth? Key Industry Players are ABB, DENSO, Epson America Inc., Kawasaki Heavy Industries, Ltd., Panasonic, Universal Robots A/S, Yamaha Motor Co., Ltd., Mitsubishi Electric US, Inc.

With automation technology gaining widespread popularity across several end-use sectors, the industrial robotics market forecast shows significant promise. Automation technology utilization helps reduce production times and excessive variable expenses pertaining to labor and electricity. Labor costs in regions like North America and Western Europe are extremely high, with wages in Germany surpassing $38 per hour, which means these markets can benefit greatly from industrial robotics technology application.

The industrial robotics market in Germany is propelled by the amalgamation of the country's well-established engineering presence, leading position in technological advancements and wide-ranging industrial base. The Germany manufacturing sector is making immense strides in technological innovation to help bridge the gap between robotics and the industrial segment. Germany's proficiency in the development of industrial robotics solutions is further augmented by specialized organizations like Robotics and Mechatronics Center located at the German Aerospace Center (DLR).

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The proliferating trend of automation sweeping across the manufacturing sector is expected to impel the industrial robotics market share considerably. The use of robots is gaining wider acceptance from numerous organizations for the implementation of high-risk and recurring tasks like deburring, part inspection, bin-picking and grinding.

Equipment-automation will augment the efficiency of several manufacturing activities right from handling of raw materials to final product packaging.

Key Players Are:
o Fanuc Corporation
o Denso Corporation
o Kawasaki Heavy Industries Ltd
o Yamaha Motor Co
o KUKA AG
o Mitsubishi Electric Corporation

The widespread implementation of automation technologies over myriad industries has allowed organizations to gain a competitive edge in terms of price, product offering and business scope, thereby expediting industrial robotics market size.

Rapid industrial development can be ascribed to numerous strategic initiatives by regulatory authorities to support the utilization of regional goods and services. An example would be the Indian government's Make In India scheme, which was developed to augment the industrial share in India's GDP to 25% by 2022, while at the same time fostering the use of locally manufactured goods like food & beverages and electronics among the general public, rather than overseas products.

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This strategy involves subsidies, financial backing and expertise from the government to local industries, with capital subsidy of approximately 25% for a duration of 10 years to enhance electronics production, which in turn will bolster the industrial robotics market dynamics. Moreover, the implementation of these technologies will allow for improved output, miniaturization as well as lead time & human error mitigation for manufacturing companies.

Among the numerous product segments of the industrial robotics market, the collaborative robot segments is expected to witness maximum gains over the forecast period. Compared to traditional counterparts, these cost-effective systems work in conjunction with employees owing to their wide work envelope and elevated usage capacity. Likewise, the implementation of these collaborative robots can help reduce human idle time by nearly 85%, consequently bolstering the efficacy of the entire production process.

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