Industrial Robotics Market - The Future of Work and Revolutionizing Industry

Industrial Robotics Industry Overview

The global industrial robotics market was valued at USD 26.52 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 10.5% from 2023 to 2030. The growing trend of Industry 4.0 is driving the use of robotics and smart manufacturing in the industrial sector.

Manufacturers are expanding their factories to cater to the growing demand for industrial robotics. For instance, in December 2022, ABB Ltd. opened a new mega robotics factory for production and research in Shanghai, China. The company invested around USD 150 million to launch the 67,000-square-meter factory.

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Moreover, companies are developing robots with advanced technologies and modern features due to the growing industrial sector and its complex processes. For instance, in June 2022, Epson Robotics launched its GX4 and GX8 SCARA robotics series. The company announced that the robots would provide multiple arm support and offer high precision task accuracy for complex handling tasks. Technological advancements of similar nature are expected to drive market growth during the forecast period.

The rising trend of electric automobiles among new car owners remains promising, given the cost-benefit. It is expected to significantly impact the industrial robotics industry as car manufacturers have begun using automated robotic systems for the high-volume production of vehicles. For instance, in December 2022, Kuka AG completed the delivery of its industrial arm robots to Tesla Inc. to help the company mass produce its electric vehicles. Similarly, other major automobile companies are also using automated robotic solutions, thus driving the demand for industrial robotics.

The incorporation of machine learning and artificial intelligence technologies in industrial robots is positively influencing the business sector. Further, the introduction of 5G technology is also expected to encourage the use of robotics in the manufacturing sector. The low latency of the 5G network allows instantaneous communication between the systems for efficient coordination and connectivity. For instance, the release of an industrial 5G wireless network technology by the Nokia Corporation is a prominent cause of the adoption of robotics.

Moreover, the rising labor and factory insurance costs are expected to drive the introduction of industrial robotics for economical and effective resource allocation with minimal downtimes. For instance, in October 2022, the cost of labor in the U.S. increased at a notable rate. Additionally, the use of robotic systems significantly reduces the error rate while simultaneously increasing the rate of output. Hence, manufacturers are integrating automated robotic systems to increase their operational efficiency and profit margins.

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• The global drone-powered business solutions market size was valued at USD 14.20 billion in 2023 and is projected to grow at a CAGR of 17.0% from 2024 to 2030. The adoption of advanced high-resolution imaging sensors and the utilization of lightweight materials are key growth-driving factors for this market growth.

• The global direct to garment printing market size was estimated at USD 1.75 billion in 2023 and is expected to grow at a CAGR of 12.5% from 2024 to 2030. DTG has emerged as a transformative technology within the apparel industry. This process involves printing digital designs directly onto fabric using inkjet technology, eliminating the need for traditional methods such as screen printing or embroidery.

Industrial Robotics Market Segmentation

Grand View Research has segmented the global industrial robotics market based on application, end-use, and region.

Industrial Robotics Application Outlook (Revenue, USD Million, 2018 - 2030)

• Handling

• Assembling & Disassembling

• Welding & Soldering

• Cleanroom

• Dispensing

• Processing

• Others

Industrial Robotics End-Use Outlook (Volume, Thousand Units; Revenue, USD Million, 2018 - 2030)

• Automotive

• Electrical/Electronics

• Metal/Heavy Machinery

• Chemical, Rubber & Plastics

• Food

• Others

Industrial Robotics Regional Outlook (Volume, Thousand Units; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • U.K.

  • Germany

  • Italy

  • France

  • Spain

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

• Latin America

  • Brazil

  • Mexico

• Middle East & Africa

  • Saudi Arabia

  • South Africa

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Key Companies profiled:

• ABB Ltd.

• Yaskawa Electric Corporation

• Mitsubishi Electric Corporation

• Nachi-Fujikoshi Corp.

• Comau SpA

• KUKA AG

• Fanuc Corporation

• Denso Corporation

• Kawasaki Heavy Industries, Ltd.

• Omron Corporation