Industrial Robotics Market to Soar High at an Astronomical 13.2% CAGR through 2031 as Developing Advanced Robots Integration

June 24 19:24 2024
Industrial Robotics Market to Soar High at an Astronomical 13.2% CAGR through 2031 as Developing Advanced Robots Integration
Skyquest Technology
Industrial Robotics Market By Type(Traditional Robots (Articulated Robots, Cartesian Robots, SCARA Robots, Parallel Robots), By Payload(Up to 16.00 kg, 16.01–60.00 kg, 60.01–225.00 kg, and More than 225.00 kg), By Component(Robot Arm, Robot Accessories, Additional Robotic Hardware, System Engineering), By Application(Handlings, Assembling & Disassembling, Welding & Soldering, Clean Room), By End Use & By Region

Industrial Robotics Market size was valued at USD 14.7 Billion in 2022 and is poised to grow from USD 16.6 Billion in 2023 to USD 44.87 Billion by 2031, at a CAGR of 13.2% during the forecast period (2024-2031).

 

Global industrial robotic market is becoming more and more popular since it increases workflow efficiency and streamlines processes. The need for robots is rising because of the expansion of small and medium-sized enterprises, rising automation costs across industries, and stringent laws controlling the handling of hazardous materials and products. In a similar vein, these robots support high payload lifting in the manufacturing of vehicles and the customization of machines. There will be more market potential as smart factories proliferate. Moreover, the market is growing due to elements such as consumer demand for consumer goods, worker safety, and public awareness of industrial accidents.

 

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Key Players Powering Competitive Global Industrial Robotics

Leading companies in the highly competitive worldwide industrial robots market include ABB, Fanuc, Yaskawa, and KUKA. These businesses are inventing quickly to serve a variety of industry verticals, including manufacturing, electronics, and the automotive sector. China and India, as Asia-Pacific emerging markets, are growing quickly as people want automatic systems more and more. Also, AI and IoT growth provides new possibilities for more effective and complicated robotic solutions that were not possible before. This triggers intense competition among companies that often form alliances or even become one entity to boost their technological capabilities and boost their market presence.

 

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Role of AI and IoT in Elevating ABB, Fanuc, Yaskawa, and KUKA to Aid Market Supremacy

Leading companies in the fiercely competitive worldwide industrial robots market include ABB, Fanuc, Yaskawa, and KUKA. These experts in the field are inventing quickly to cater to a variety of industries, such as manufacturing, electronics, and the automotive sector. Growing demands for automation are driving major growth in the Asia-Pacific area, particularly in China and India.

Progress in AI and IoT is making robotic capabilities better developed, more advanced, and effective. Companies globally keep combining their efforts to gain more technology power and market share, hence making competition even fiercer. Therefore, continual innovation and strategic extension are important for businesses to prosper in such an economic perspective.

Pioneering Progress in Dynamic World of Industrial Robotics

The acquisition of ASTI Mobile Robotics by ABB in 2021 is a strategic move into autonomous mobile robots in the very competitive global industrial robotics sector. The development in technology can be seen in Fanuc’s production of the M-2000iA: this is currently the most powerful industrial robot anywhere globally. This alliance between Yaskawa and Siemens in state-of-the-art robots demonstrates the way AI and IoT can be connected. In another demonstration of the growing might of Asia-Pacific, KUKA has automated logistics centres together with large China e-commerce enterprises such as JD.com. These are pictures showing how innovative companies are engaging themselves in making technological advancements, forming strategic partnerships and acquiring other firms with the aim of increasing their abilities and staying ahead in the fast-paced world of robotics.

 

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Automation Ascendancy Drive by Strategic Moves and Technological Mastery

Automated systems’ spread throughout different business functions and offer high efficiency of the workflows. Pioneers in this niche like Yaskawa, Fanuc, KUKA and ABB use smart acquisitions and modern technology to push forward. Asia-Pacific, in particular China and India’s increasing requests are making it evident that there is still room left for expansion. Robotics improves in intelligence thanks to developments in both AI and IoT so that technology strength and market presence improve through partnership and acquisitions. Those companies must engage in corrective action and pursue forward integration strategies if they are to remain competitive in this fast-paced business environment.

 

Related Reports:

Robotics Market

 

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SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.

 

We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific.

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