Non-Industrial Robots Market to Acquire a Value of US$ 465.5 billion by the end of 2033

The non-industrial robots market is expected to reach US$ 83.4 billion in 2023 and US$ 465.5 billion by the end of 2033, growing at a CAGR of 18.8%. Robotics is gradually changing how routine operations are carried out; its adoption simplifies work, saves time, and increases overall production.

Every industry, including the commercial and household sectors, uses robots for all jobs, simple or complicated. Due to the growing demand from end-use sectors including healthcare, the military, research and development, and other industries, non-industrial robots are expected to experience rapid growth.

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Key Titans

• Mitsubishi Electric Corporation
• ABB
• Fanuc
• Kuka AG
• Yaskawa
• Comau
• Epson
• Kawasaki Robotics
• Staubli International AG
• Universal Robots

ABB launched five axes delta robots for lightweight and fastest product picking, packing and re-orientation with the payload capacity of 1.5 kg. The robot arm will specifically use for the lightweight products such as cookies, chocolates, peppers, small bottes and parcels. The product has capability of moving the product from one place to another of 1 kg products within 120 picks per minutes.

Fact.MR has provided detailed information about the price points of key manufacturers of industrial robot positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Key Takeaways from Market Study

• The global industrial robot market is projected to grow 12.1% and reach US$ 56,171.4 million by 2033
• The market witnessed 8.9% CAGR between 2018 and 2022
• The industrial robot dominated the market with US$ 15,755.5 million valuations in 2022
• Automotive under end use segment is expected to have market share of 20.3% by the end of 2023
• East Asia will dominate the market with 23.4% market share in 2023

Competitive Dashboard

The industrial robots market is segmented, with both major and minor market participants. Therefore, producers must distinguish their products using cutting-edge technology and distinctive items in order to prosper in such a competitive climate. In order to maintain market positions in this highly competitive environment, product prices may need to be reduced, which could negatively impact manufacturers' profit margins.

Market Development

The top market players have been spending in R&D to develop a superior technological architecture that allows for more flexibility and efficiency. These improvements will drive the industrial robot market's growth during the medium- to long-term projection period.

For instance, Google plans to release its worker robots that have personalities, allowing developers to download personalities via cloud-based technologies. While interacting with humans, the robot will be able to store various personalities.

Another advancement is the multi-tasking robot, which is being developed by momentum machines and will be employed in chain restaurants. A hamburger may be made by the robot in less than 10 seconds.

Industry Research

• By Product Type :

o Articulated arm
o Collaborative robot
o SCARA
o Cartesian
o Cylindrical
o Spherical/Polar
o Parallel/Delta
o Others

• By Motion Range :

o Below 2000 mm
o 2000-3000 mm
o Above 3000 mm

• By Payload Capacity :

o Below 100 Kg
o 100-300 Kg
o 300-600 Kg
o Above 600 Kg

• By Application :

o Packaging
o Palletizing
o Material handling
o Painting
o Welding
o Assembly
o Inspection
o Cutting
o Dispensing
o Others

• By End User :

o Aerospace and Defense
o Automotive
o Chemicals & Materials
o Electrical & Electronics
o Food and Beverage
o Healthcare
o Mining & Oil & Gas
o Retail & e-Commerce
o Logistics & Warehousing
o Packaging
o Others

• By Region :

o North America
o Latin America
o Europe
o East Asia
o South Asia & Oceania
o Middle East & Africa

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• Visualize: The authors involved in the research activities visualized the post-COVID-19 era so that the key stakeholders of market get an overview and helps them take certain steps to ensure continuous growth during the forecast period.

• Overcome: The report scrutinizes on points that can prove to be an achilles heel to the market and assists to create strategies to overcome the obstacles that may hinder the growth of the market.

• Leverage: The market can leverage certain aspects that can prove beneficial for the increase in growth rate. Fact.MR covers all the points on which the key stakeholders can leverage upon.

• Verify: Research is done systematically to assure validation of all the aspects covered in the report. All the points are rechecked and verified thoroughly to avoid flaws and fake information.

• Eradicate: Last but not the least, this aspect helps the key stakeholder eradicate all the obstacles that come between the growth rate and the market.

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This release was published on openPR.