Industrial Robotics Market 2020-2030 | Development Strategies, Key Players & Market Segmentation
Product Overview
Industrial robot is a robot device which is employed in manufacturing. Industrial robots are designed, programmed such as it is free to function on three axes or more. Standard robotic applications involve welding, painting, assembly, disassembly, pick-and-place for integrated circuits, labeling and packaging, stacking pallets, material inspection, and testing. All performed with strong endurance, speed, and precision.
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Market highlights
The covid-19 effect on the market size of industrial robotics is projected to rise from USD 45 billion in 2020 to USD 119 billion by 2030. It is anticipated to expand at a CAGR of 15% over the forecast period of 2020-2030. The 2025 forecast is expected to be down by about 3 percent relative to the pre-COVID-19 prediction. Dearth of qualified labor and government and public-private partnerships offering proposals to reduce the adverse effects of COVID-19 are main driving forces for the industry.
Industrial Robotics Market: Segments
Articulated robots retain greater market share in the forecast period, post COVID-19.
In comparison with other types of industrial robots, articulated robots are in use in a greater range of industries. As their manufacturing processes are highly automated, the automotive sector contributes for the biggest share of articulated robots. Though most companies are affected by the COVID-19 pandemic, during the forecast period, articulated robots are still projected to maintain the largest proportion of the industrial robotics market. Certain robots, such as SCARA and parallel robots, are more complex and specialized than articulated robots, and are not as flexible in terms of payload and scope.
Industrial Robotics Market: Market Dynamics
Rising demand for collaborative robots
Collaborative robots allow human beings and robots to work efficiently together in open or uncaged conditions. By utilizing collaborative robots, it is possible to involve a human operator and robot in the same system together. Technical specifications ISO 10218 and ISO / TS 15066 describe the requirements for the design of collaborative robots. Collaborative robots are built to ensure protection, so that there is no chance of injury and disruption. The absence of cages decreases the space necessary to deploy the robots. Collaborative robots have become more accessible to inexperienced users and are easily manageable.
Restraint
High deployment costs particularly for small and medium-sized companies
A robot automation program can be daunting, especially for businesses with no previous experience. High capital costs are needed not only for the robot purchasing, but also for installation, programming and upkeep. A custom implementation may be required in some cases which further pushes up the total cost. Companies cannot always have the capacity and infrastructure required to deploy the robots. As small and medium-sized enterprises typically engage in low volume production, return on investment (ROI) may pose a problem.
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