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Global Industrial Robots Market 2024 Production Analysis, Latest Trends, Industry Share And Forecast To 2033 | Major Players Are ABB Ltd., Fanuc Corporation, Yaskawa Electric Corporation, Mitsubishi Electric Corporation, Kawasaki Heavy Industries, Ltd.
Industrial Robots Market
The Business Research Company presents an extensive market research report on the Industrial Robots Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The industrial robots market size has grown rapidly in recent years. It will grow from $52.97 billion in 2023 to $59.07 billion in 2024 at a compound annual growth rate (CAGR) of 11.5%. The growth in the historic period can be attributed to rise in economic growth, labor shortage, and government support.
The industrial robots market size is expected to see rapid growth in the next few years. It will grow to $89.12 billion in 2028 at a compound annual growth rate (CAGR) of 10.8%. The growth in the forecast period can be attributed to covid-19 pandemic, rise in healthcare expenditure, growth in the industrial sector, mergers and acquisitions to drive innovations, and increasing investments. Major trends in the forecast period include companies should focus on manufacturing collaborative robots to be a leader in the market, invest in the latest artificial intelligence technology to achieve higher sales and profitability, focus on cloud robots to increase the demand for industrial robots by various end-user industries, invest in the latest customized robots using machine learning and other technologies, and should consider adopting robotics and automation technology to increase productivity and improve process efficiencies.
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Key Market Players:
Major companies operating in the immuno-oncology drugs market report are F. Hoffmann-La Roche Ltd., Merck & Co., Bristol-Myers Squibb Company, Amgen Inc, Johnson & Johnson, AstraZeneca Plc, Eli Lilly and Company, Novartis International AG, Pfizer Inc., Sanofi S.A., Arlak Biotech, Healthkind Labs Pvt. Ltd., SwisscheM Healthcare Pvt.Ltd, Apikos Pharma, Kolaz biotech, CStone Pharma, CARsgen Therapeutics, JW Therapeutics, BeiGene, Takeda Pharmaceuticals, Astellas Pharma Inc, Otsuka Pharmaceutical Co, Ltd, Legend Biotech Co, Zai Lab, Daiichi Pharmaceutical and Sankyo, AQVIDA GmbH, Baxter International Inc., GlaxoSmithKline plc, Affimed Therapeutics, Autolus Therapeutics, Cellectis, Celyad, GammaDelta Therapeutics, Immunocore, European Medical Center (EMC), Yauza Medical Center, Celon Pharma, Veropharm, Biocad, Selvita, OncoArendi Therapeutics Mabion, Fate Therapeutics, Forty-Seven, Arcus Biosciences, Gritstone Oncology, Rakuten Medical, Rubius Therapeutics, Allogene Therapeutics, Celgene Corporation, Bayer AG, Incyte Corporation, Recepta Biopharma, CSC Pharmaceuticals International, Blanver EN, Sandoz Brazil, Life Pharma, Julphar, NewBridge Pharmaceuticals, Eurolab
Market Drivers:
The shortage of skilled workers is contributing to the growth of the industrial robot's market. There is an increase in production requirements, and due to high demand manufacturers are not able to fulfill the supply due to a shortage of skilled labor. A shortage of skilled labor exists due to two main reasons, the presence of unskilled workers and skilled workers not available for work. According to the Bureau of Labor Statistics, as of August 2023, the US economy had a shortage of almost 600,000 stable manufacturing jobs waiting to be filled in manufacturing businesses nationwide. Producers to maintain a high supply, are thus opting for the installation of robots. Industrial robots increase the overall productivity, efficiency, and effectiveness of the company. Therefore, the shortage of labor gives rise to other opportunities for the addition of robots to the workforce.
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https://www.thebusinessresearchcompany.com/report/industrial-robots-global-market-report
The industrial robots market covered in this report is segmented -
1) By Product Type: Articulated Robots, Linear Robots, Cylindrical Robots, Parallel Robots, Scara Robots, and Others
2) By Application: Pick And Plane, Wielding And Soldering, Material Handling, Assembling, Cutting And Processing, and Others
3) By End-User Industry: Automotive, Electrical And Electronics, Healthcare & Pharmaceuticals, Food & Beverages, Rubber & Plastics, Metals & Machinery, and Others
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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