The global industrial robotics category is anticipated to grow at a CAGR of 10.5% from 2023 to 2030. Growth of the category can be attributed to increased focus on ensuring workplace safety, rising attention for increasing the productivity of assembly lines supporting high volumes, increasing need for collaborative robots across multiple industries, higher adoption of Industry 4.0, and stringent federal guidelines for handling dangerous goods and materials. However, challenges pertaining to integration and complexities associated with the product offered in the category may hinder the global demand. Interoperability is essential in any manufacturing facility and small & medium enterprises (SMEs) are particularly challenged by interoperability concernsbecause of their exceptional needs and staffing shortages when it comes to setting up sophisticated automation systems.
Technologies that drive the global category include collaborative robots, IIoT (industrial internet of things), industrial cyber security, big data & analytics, and open automation architecture. Collaborative robots are significantly less expensive and can operate along with the humans, safely. Manufacturers with stringent return on investment requirements will be more likely to utilize them as these robots gain more capability in demanding industrial environments over time. In addition, industrial robots are increasingly utilizing smart sensors and actuators to gather data that manufacturers were previously unable to obtain. IIoT makes use of these smart devices and real-time analytics to maximize the data generated over the years by dumb machines in industrial settings. Furthermore, the greater robot connectivity to internal data gathering systems, the higher the risk of cyber security. Manufacturers will need to make significant investments in cyber security and address process weaknesses in order to guarantee dependable and secure output.
The category for industrial robotics is fragmented and witnesses large number of global market players, turning the category to be highly competitive. Key players in the industry are continuously upgrading their existing product offerings and investing in research & development to support the introduction of new products, in order to enhance their product portfolio and stay competitive. In addition, they are adopting the strategies such as expansion of operational presence, joint ventures, mergers & acquisitions, etc. to strengthen their position in the industry. For instance, ABB Robotics recently introduced new variants of its “GoFa” series robots, such as GoFa 10 and 12, which possess improved efficiency, increased payload capacity, and additional features. The category possesses low threat of new entrants as manufacturing these robots require high initial investments, supplemented by knowledge of skilled specialists.
Purchase cost (cost of robot, cost of training, and extended warranty costs), power consumption, maintenance cost and downtime cost are the key components that constitutes the total cost of ownership for the products offered in this category. The purchase cost constitutes 50% - 80% of total cost, therefore, it is recommended to the product’s reliability into account because low reliability would result in significant downtime and spare component costs (which are included in maintenance costs) that increase overall operational costs. Without a robot downtime history record, it can be challenging to assess the cost of robot downtime. Purchasing a new industrial robot will cost over USD 24,900 for entry-level options and go up-to over USD 99,900 for higher tech versions. The price depends on number of factors, such as the end-of-arm tool (EOAT), software, teach pendant, controller, etc. The ultimate cost of a robot can be greatly influenced by any of these add-ons.
Asia-Pacific region dominates the global industrial robotics category, holding over 64.9% of global market share. Many firms and sectors in this region utilize industrial robots in their manufacturing operations. Moreover, this region possesses substantial growth potential due to the increasing trend toward artificial intelligence, automation, and the development of other cutting-edge technologies. The Middle East & Africa region is anticipated to witness the fastest growth during the projected timeframe owing to the growing number of industrial initiatives being undertaken by the governments of various nations in this region. For instance, in 2022, the crown prince of Dubai launched a “robotic & automation program” with an objective to boost the adoption of robotics in the nation. Furthermore, assessing if the robotic solution offered by the supplier supports the required application area, thoroughly reviewing the warranty terms offered by the supplier, evaluating if the supplier is capable to offer technical support post sales, negotiating on the best pricing term for the product on offer are some of the best sourcing practices considered in this category.
Report Attribute |
Details |
Industrial Robotics Category Growth Rate |
CAGR of 10.5% from 2023 to 2030 |
Base Year for Estimation |
2022 |
Pricing Growth Outlook |
10% - 15% decrease (Annually) |
Pricing Models |
Cost-plus pricing, Fixed pricing |
Supplier Selection Scope |
Cost and pricing, Past engagements, Productivity, Geographical presence |
Supplier Selection Criteria |
Years in service, geographic service provision, certifications, types of robots for different applications, degree of freedom, load capacity speed, customization options, technical support, and others |
Report Coverage |
Revenue forecast, supplier ranking, supplier matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model |
Key Companies Profiled |
ABB Ltd (ABB Robotics), Comau S.p.A., DENSO Products & Services Americas, Inc., FANUC Corporation, IRS Robotics, Kawasaki Heavy Industries, Ltd., KUKA AG, Mitsubishi Electric Corporation, Nachi-Fujikoshi Corp., OMRON Corporation, Techman Robot Inc., and Yaskawa Electric Corporation |
Regional Scope |
Global |
Revenue Forecast in 2030 |
USD 58.9 billion |
Historical Data |
2020 - 2021 |
Quantitative Units |
Revenue in USD billion and CAGR from 2023 to 2030 |
Customization Scope |
Up to 48 hours of customization free with every report. |
Pricing and Purchase Options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
b. The global industrial robotics category size was valued at approximately USD 26.5 billion in 2022 and is estimated to witness a CAGR of 10.5 % from 2023 to 2030.
b. Increased focus on ensuring workplace safety, rising attention for increasing the productivity of assembly lines supporting high volumes, increasing need for collaborative robots across multiple industries, higher adoption of Industry 4.0, and stringent federal guidelines for handling dangerous goods and materials is driving the growth of the category.
b. According to the LCC/BCC sourcing analysis, Japan and Germany are the ideal destinations for sourcing industrial robotics.
b. This category is fragmented with high level of competition. Some of the key players are ABB Ltd (ABB Robotics), Comau S.p.A., DENSO Products & Services Americas, Inc., FANUC Corporation, IRS Robotics, Kawasaki Heavy Industries, Ltd., KUKA AG, Mitsubishi Electric Corporation, Nachi-Fujikoshi Corp., OMRON Corporation, Techman Robot Inc., and Yaskawa Electric Corporation
b. Purchase cost (cost of robot, cost of training, and extended warranty costs), power consumption, maintenance cost and downtime cost are the major key cost components of this category.
b. Assessing if the robotic solution offered by the supplier supports the required application area, thoroughly reviewing the warranty terms offered by the supplier, evaluating if the supplier is capable to offer technical support post sales, negotiating on the best pricing term for the product on offer are some of the best sourcing practices considered in this category.
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