The global industrial robotics market size was valued at USD 31.45 billion in 2016. It is anticipated to witness a CAGR of approximately 7.0% over the forecast period. Growing emphasis upon improvement of productivity of high volume production lines, particularly in the manufacturing of vehicles and electronic devices, is one of the trends escalating market growth.
Industrial robots offer several benefits, including cost reduction, increased rate of operation, size reduction, and improving quality, along with improved manufacturing efficiency and flexibility. Rising awareness regarding the benefits they offer is anticipated to affect the market positively.
Influx of robots with integrated vision and touch, which enhance the efficiency and speed of delivery systems, is estimated to stimulate the growth of the market. Unlike their predecessors, new generation robots include human features such as intelligence, flexibility, memory, learning ability, and objects recognition. With the implementation of robotic technologies, industries are able to avail several financial benefits such as reduction in overhead costs, increase in productivity, waste reduction, and flexibility. Advancements in artificial intelligence such as deep learning and development of self-programming robots are projected to drive the market over the forecast period.
In Asian countries such as China, Korea, and Taiwan, supportive government policies through programs including R&D subsidies, investment in skills, tax incentives, and loans are poised to work in favor of the overall market. The European Union (EU) invested USD 872 million on the SPARC robotics project, which is expected to generate over 240,000 jobs in Europe by 2020.
By application, the market is segmented into chemical, rubber, and plastics, automotive, electrical/electronic, metal/heavy machinery, and food. In 2016, the automotive segment accounted for the largest revenue share, contributing to nearly 45.0% of the global market. Moreover, development of automotive robotics has picked up pace due to cost-effectiveness, job efficiency, and safety.
The food segment is likely to exhibit the highest CAGR over the forecast period. However, due to various government regulations and food safety standards, the demand witnessed for industrial robotics in the initial years was low in the sector. Nevertheless, with the surging demand for packaged food and fast food, their demand is expected to increase.
Some of the key contributing countries in the industrial robotics market are Germany, China, Japan, the U.S., and South Korea. The Asia Pacific region dominated the market with a revenue share of over 52.0% in 2016 and is anticipated to continue its dominance throughout the forecast period. The region also had the maximum number of units shipped in 2016, which stood at around 151 thousand units. It is projected to register a substantial CAGR over the forecast period.
Major industrial robot manufacturing hubs in Asia Pacific include China, Japan, Korea, and Taiwan. Japan and South Korea are at the forefront of the regional market in terms of installation of industrial robots. Rapid growth of the market in these countries can be primarily attributed to the booming electronics industry.
Key players dominating the market include YRG, Inc.; ABB; Toshiba Machine Co., Ltd.; Panasonic Corporation; Omron Adept Technologies, Inc.; Fanuc Robotics; DENSO Corporation; Mitsubishi Electric Corporation; EPSON Electronics; and KU.K.a AG. Market players often require high funding and investments to develop products and consolidate their position in the arena, which leads to high entry as well as exit barriers.
The general strategic behavior of major players in the market is to seek new segments such as lightweight robotics and think out of conventional heavy industrial robots, while maintaining a foothold in that segment. Generally, custom robots, which are programmed to a specific work environment, are preferred to standard robots in the manufacturing sector.
Attribute |
Details |
Base year for estimation |
2014 |
Actual estimates/Historical data |
2012 - 2013 |
Forecast period |
2015 - 2020 |
Market representation |
Market revenue in USD Million & CAGR from 2015 to 2020 |
Regional scope |
North America, Europe, Asia Pacific, and RoW |
Country scope |
U.S., Canada, U.K., France, Spain, Germany, Italy, China, Japan, Korea, Taiwan, and Mexico |
Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
15% free customization scope (equivalent to five analysts working days) |
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization |
This report forecasts revenue growths at global, regional, and country levels and provides an analysis of the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global industrial robotics market report on the basis of application and region.
Application Outlook (Revenue, USD Million, 2012 - 2020)
Automotive
Electrical/Electronics
Metal/Heavy Machinery
Chemical, Rubber, & Plastics
Food
Others
Regional Outlook (Revenue, USD Million, 2012 - 2020)
North America
The U.S.
Canada
Mexico
Europe
Germany
Italy
Spain
The U.K.
France
Asia Pacific
China
Japan
Korea
Taiwan
Rest of World
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The exponential spread of COVID-19 worldwide has had an adverse impact on the semiconductor industry with manufacturing facilities temporarily shut, leading to a significant slowdown in the production. The outbreak could result in disruption across the ecosystem with several supply chain participants shifting their production facilities outside China, thereby reducing their over-reliance on China. Lockdowns imposed by the governments in the wake of the Covid-19 outbreak has not only affected manufacturing but also hauled consumer demand for semiconductor devices. Our analysts predict a decline in semiconductor revenue by over 1% in 2020 as compared to that in 2019. The report will account for Covid19 as a key market contributor.