Industrial Robotics Market Business Growth, Trends and Future Scenario Along with Top Key Players

Rapid growth in automation and reduction in taxes on refurbished goods have fueled the growth of the industrial robotics market. North America and Europe collectively accounted for more than one-third share of the industrial robotics market, as these regions have continuously focused on R&D activities using industrial robotics.

The global industrial robotics market was valued at $37,875 million in 2016 and is projected to reach $70,715 million by 2023, growing at a CAGR of 9.4% from 2017 to 2023.

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Materials handling is the largest segment by function in the global industrial robotics market. In 2016, this segment accounted for over one-third share of the global industrial robotics market, owing to its increased demand over diversified industries such as packaging and electronics, where the market for robots is in its nascent stage especially in the Asia-Pacific and Latin American regions

The key players operating in the industrial robotics industry are Daihen Corporation, Denso Corporation, Epson America, Inc., Fanuc Ltd., Kawasaki Heavy Industries Ltd., KUKA Robotics Corporation, Mitsubishi Electric Corporation, Nachi Robotic Systems, Inc., Panasonic Corporation, and Universal Robotics.

Key Findings of the Global Industrial Robotics Market:
  • Presently, the articulated robot segment dominates the industrial robotics market and is expected to this trend throughout the forecast period.
  • Automotive is the largest application segment in the present scenario and is projected to maintain its dominance throughout the forecast period.
  • The food & beverage segment is expected to witness the fastest growth rate in the near future.
  • Material handling is the largest segment in the present scenario and is expected to maintain this trend during the forecast period.

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This segment is expected to continue this trend during the forecast period. Presently, the soldering & welding segment accounted for over one-fourth share of the global industrial robotics market, owing to their aggrandized usage in applications requiring high precision in the machinery industry.

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