The Global Industrial Robot Market is subject to witness a substantial growth due to the increasing adoption of automation and modernization for industrial processes, and growing focus towards high-end productivity, growing number of large-scale production lines, especially for the manufacturing of vehicles and electronic devices. Industrial robots provide numerous advantages such as cost efficiency, higher rate of operation, size limitation and superior quality coupled with higher productivity.
These factors are expected to boost the growth of industrial robots market over the forecast period. Additionally, enhanced manufacturing efficiency and flexibility to carry out complex industrial operations are propelling market growth, in the recent years. Increasing awareness among manufactures about benefits associated with early adoption of industrial robots are predicted to expand market reach in the upcoming years. Globally, the industrial robots market is predicted to grow at CAGR of 7.07% in the forecast period, providing numerous opportunities for market players to invest in research and development of the industrial robots market.
Full Research Report On Industrial Robots Market Analysis available at: https://www.millioninsights.com/industry-reports/industrial-robot-market
The industrial robots or service robots are widely used across different segments of the market. The International Federation of Robotics (IFR) defines the industrial robot as machine that performs semi or fully automated tasks and functions to provide necessary comfort and welfare for humans. Industrial robots are categorized into engineering robots and scientific robots. Industrial robotic is considered as one of the groundbreaking technologies in present times as it holds ability to provide abundant opportunities for high-scale productivity potential in manufacturing processes.
Introduction of advanced safety protocols for industrial robots to carry out various operational procedure allows manufactures to achieve desired efficiency and performance capability. Additionally, implementing advanced safety measures provide longer shelf life for the industrial robot. These factors are expected to fuel market demand for industrial robots in the upcoming years. The recent technological advancement in the modernization of manufacturing sector coupled with development of the novel technologies such as gripping techniques and kinematics to enhance performance level of industrial robot are anticipated foster market growth in the near future.
Development of Robot as a service, also called as robotics-as-service (RaaS), which is a web-based cloud computing system that enables the flawless integration of robotic and embedded tools into web-based cloud systems, is projected to stimulate market demand for industrial robots in the upcoming years. Robot as a service (RaaS) consists of various services for performing numerous functionalities, such as service directory and service client, these service-based systems are called as service-oriented architecture (SOA).
Request for Free Sample Copy @ https://www.millioninsights.com/industry-reports/industrial-robot-market/request-sample
The market is broadly categorized into multiple segments based on end-user application such as chemical sector, rubber industry, and plastics industry, automobile sector, electronic industry, heavy machinery sector, and food industry. The automobile sector is considered as one of the fastest growing segment in the industrial robots market with substantial revue generation in the last couple of years.
Growing popularity of the automobile segment is attributed to cost-effectiveness, job efficiency, and safety. Packaged food segment has also going to witness massive growth, in the recent years, owing to the soaring demand for packaged food and fast food products.
The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in manufacturing sector, and existence of well-established industrial infrastructure. Asia-Pacific region is predicted to hold major market share in the industrial robots market with massive growth in forecast period. Countries such as India, China, South Korea and Japan are leading the Asia-Pacific market with strong economic growth, rapid industrialization, rising in the domestic manufacturing activities, and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the industrial robot market are YRG, Incorporations, ABB Robotics, Inc., Toshiba Machine Ltd., Panasonic Co., Omron Adept Technologies, Inc., Fanuc Co., DENSO Co., Mitsubishi Electric Co., EPSON Electronics GmbH, and KUKA AG.
The market is divided into the following segments based on geography:
Global Industrial Robots Market in the Automotive Industry 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
• Kawasaki Heavy Industries
• Midea Group
• Universal Robots
• Yaskawa Electric
Related Reports of This Category Available at Million Insights: https://www.millioninsights.com/industry/robotics
About Million Insights
Million Insights, is a distributor of market research reports, published by premium publishers only. We have a comprehensive market place that will enable you to compare data points, before you make a purchase. Enabling informed buying is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store, includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive.
For More Information: www.millioninsights.com
Company Name: Million Insights
Contact Person: Ryan Manuel
Email: Send Email
Address:Office No. 302, 3rd Floor, Manikchand Galleria, Model Colony, Shivaji Nagar