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Industrial Robotics Market Analysis, Competitive Strategies and Forecasts to 2024

A detailed overview of Industrial Robotics market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of Industrial Robotics market in conjunction with the geographical landscape, demand spectrum, remuneration scale, and growth graph of this vertical have also been included in this report.

Industrial robotics market is expected to grow at a significant pace, owing to the continuing trend of automation across several end-use industries. Robots are being increasingly adopted by the companies to perform repetitive or risky tasks such as deburring, grinding, part inspections, and bin-picking. Automation through this equipment enhance efficiency of several processes ranging from raw material handling to the packaging of the finished product. The adoption of this technology across industries has enabled the companies to increase competitiveness based on price, offerings, and business reach, thus propelling the market.

Growing trend of adoption of ‘lights out' production concept in modern manufacturing is expected to drive the industrial robotics market growth. In ‘lights out' production, the manufacturing activities are handled using automation. The companies are adopting the technology to reduce human involvement in the repetitive, uncreative & dangerous tasks, eliminate errors, and cut manufacturing costs. For instance, at Fanuc plant in Japan, only four workers supervise the production of industrial robots by industrial robots. Furthermore, since 2013, Canon began phasing out the human labor.

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Industrial Robotics Market is set to exceed USD 80 billion by 2024; according to a new research report.

Industrial Robotics Market Analysis, Competitive Strategies and Forecasts to 2024
Industrial Robotics Market Analysis, Competitive Strategies and Forecasts to 2024

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Although, the technology performs tasks accurately, requires high degree of expertise and technical training for initial setup. The end-users require expertise and service package from the system manufacturers to ensure error-free setup. Furthermore, the performance of these systems highly depends on the performance of the surrounding systems such as conveyor systems, grippers, and vision systems. This is expected to hamper the industrial robotics market growth over the forecast timespan.

The articulated segment of the industrial robotics market has significant penetration, owing to the high degree of versatility offered by these systems. These robots have higher degree of freedom than other systems, that makes these systems usable in several tasks including welding, dispensing, material handling, and material removal. The prices of these systems are expected to witness fall over the next seven years, owing to the longevity and popularity.

Increasing advancements in technologies such as software development, computing power, and networking have reduced the cost of installing, assembling, and maintaining robots, thus providing growth opportunities to the industrial robotics market. For instance, traditionally, components such as sensors and actuators had to be connected individually to the controllers using terminal racks, junction boxes, and connectors. However, with advancements in plug-and-play technologies, the components can be connected to the controller by simple network wiring.

Industrial robotics market is projected to witness surge in demand from the automotive industry, owing to the increasing adoption by the car manufacturers to improve precision and efficiency of the production lines. According to the Robotics Industry Association, more than 50% purchases of robots in North America in recent years are made by the automotive industries. Technological advancements such as robotic vision, collaborative robots, and robotic hand are encouraging more automakers to implement the technology in their production plants, thus positively impacting the industrial robotics industry growth.

The German industrial robotics market strength is driven by a combination of the region's proven engineering tradition, position as a leader in technological development, and its highly diversified industrial base. Germany is witnessing immense innovations which are helping bridge the gap between robotics and several industrial sectors. Stakeholders are organized in multiple regional organizations such as the Automation Valley Northern Bavaria. The country's specific strength in the development and manufacturing of industrial robots is further strengthened by the existence of specialized organizations such as the Robotics and Mechatronics Center at the German Aerospace Center (DLR).

Major Highlights from Table of contents are listed below for quick lookup into Industrial Robotics Market report

Chapter 1. Methodology and Scope

  • Definitions & forecast parameters
  • Methodology and forecast parameters
  • Data Sources

Chapter 2. Executive Summary

  • Business trends of Industrial Robotics Market
  • Product trends
  • Application trends

Chapter 3. Industrial Robotics Industry Insights

  • Industrial Robotics Market Industry segmentation
  • Industry landscape
  • Analysis of Manufacturers in the Industrial Robotics industry
  • Distribution channel analysis
  • End-use landscape
  • Vendor matrix
  • Industrial Robotics Market Technology & innovation landscape
  • Industry impact forces
  • Industrial Robotics Market Growth drivers
  • Industry pitfalls & challenges
  • Key trends by Segments

Chapter 4. Company Profiles

  • Business Overview of Industrial Robotics Market Companies
  • Financial Data
  • Product Landscape
  • Strategic Outlook and Decisive Analysis of companies in Industrial Robotics Market
  • SWOT Analysis

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