Growing Industrial Robots Market Promises Higher Efficiency and Productivity

Industrial robots offer many benefits, including cost reduction, quicker operation, smaller size, and better quality, as well as increased manufacturing efficiency and flexibility. Increased awareness of the benefits they provide will likely have a positive impact on the market.

According to Market.us, “The Industrial Robots Market is forecast to grow from USD 16.78 Billion in 2022 to USD 48.95 Billion by 2032, with a CAGR of 11.3%.”

By 2022, Asia-Pacific held the largest share of the global industrial robots market. This forecast period will see the highest CAGR. Asia-Pacific is experiencing high market growth due to rising labor costs. To maintain their cost advantage, manufacturers have automated their manufacturing processes.

Anurag Sharma, a senior research analyst at Market.us, said, “The popularity of online shopping has made E-commerce more popular. Automated robotics is a priority for warehouse owners, distributors, as well as merchants. It is crucial to meet deadlines, reduce labor costs, increase production efficiency, and increase productivity in all stages. This is an important aspect when robotics are deployed. Many companies are developing innovative solutions throughout the logistics value chain. These include autonomous trucks and intelligent warehouses.”

The pandemic caused a significant impact on the industrial sector due to the decrease in consumption of high-cost products and the tendency for consumers to only purchase essential goods & services. Consumers were forced to limit their consumption of high-cost electronics, textiles, and automobiles due to the nationwide lockdown. This affected the main application areas of the industrial automation market.

As countries resume trade and economic activity and consumers enjoy greater stability, spending on these products will rise. This will lead to an increase in demand for automation solutions. The market will recover due to restrictions on how much human labor can be used in manufacturing plants by 2022.

Many industries are in high demand of industrial robots. These include automotive, pharmaceuticals, and consumer electronics. This depends on what type of robot they need to place at their sites to increase industrial activity, and decrease costs. Consumer electronics companies could use collaborative robots to increase their production flexibility.

This has resulted in significant investments which have increased the demand for these robotics. Nissan Motor purchased two lines of UR10 collaborative robots (i.e. Universal Robots supplied arms to the Yokohama facility in order to lower labor costs and improve efficiency in manufacturing processes like Takt Time. This market has seen significant growth in electronics, pharmaceuticals, and industrial businesses.

The market can be divided by industry into electric and electronics, automotive, food & drink, healthcare & pharmacy as well as metals & machine, rubber, & others.

The healthcare and pharmaceutical markets are expected to grow quickly. The growing use of robots and humans to perform various medical tasks is expected to fuel growth. This includes helping surgeons perform less invasive procedures. These robots use powerful 3DHD technology to provide the operator with the spatial references necessary for complex operations.

Speed and precision are crucial attributes for industrial robot deployments. These robots can handle liquids, powders, and viscous materials in production labs and testing laboratories. The automotive industry will continue to grow with the rapid rise of electric vehicles.

Organizations without the required expertise might find it difficult to make the initial investment. For procurement, integration, programming, and maintenance, it is necessary to make a large capital investment. This could hinder the market growth. Due to low-volume manufacturing and low returns on investment, small and medium-sized companies find it difficult to invest large sums of money.