2024 Industrial Robotics Market Projections Report – ABB, Fanuc Corporation, Denso Corporation and others Profiled
Jan 16, 2019
The 2017-2024 report on Global Industrial Robotics market explores the essential factors of Industrial Robotics industry covering current scenario, market demand information, coverage of active companies and segmentation forecasts.
Selbyville, Delaware - January 16, 2019 /MarketersMedia/ —
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).
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Industry vendors in the industrial robotics market include Fanuc Corporation, Denso Corporation, Kawasaki Heavy Industries Ltd., Yamaha Motor Co., Ltd., KUKA AG, Mitsubishi Electric Corporation, ABB Group, Epson America, Inc., Panasonic Welding Systems Co. Ltd., Rethink Robotics Inc., Staubli Group, Universal Robots A/S, Yaskawa Electric Corporation, etc. Outsourcing or subcontracting of the manufacturing process to third-party entities is a common trend among technology manufacturers. This trend is highly magnified in countries such as the U.S. and Western Europe where these resources are available at very high costs. Industrial Robotics Market is set to exceed USD 80 billion by 2024; according to a new research 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.
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.
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.
Growing need for automation in manufacturing pharmaceutical units has led to the growth of the Japan industrial robotics market. The units are used for easy and quick accomplishment of medical tasks. Companies in Japan are increasingly using collaborative robots such as UR3 ROBOT by Universal Robots A/S, which are assisting the workers in injection molding, conducting lab analysis, and picking & placing drugs.
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Table of Content:
Chapter 1 Methodology & Scope
Chapter 2 Executive Summary
Chapter 3 Industrial Robotics Industry Insights
Chapter 4 Industrial Robotics Market, By Product
Chapter 5 Industrial Robotics Market, By End-use
Chapter 6 Industrial Robotics Market, By Region
Chapter 7 Company Profiles
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