Global Industrial Robot Market: Overview
Adoption of robots equipped with artificial intelligence in manufacturing industries is likely to accelerate the growth of global industrial robot market during the forecast timeframe.
In the last few decades, robots have revolutionized the industrial world. Industrial robots are now making their way into the larger business world. Robotic workers are now common sight in many sectors such as electronics manufacturing and automobile, now they are making foray into healthcare, food production, retail and other industries.
In an upcoming report, Transparency Market Research offers a 360-degree view of the global industrial robot market. The study attempts to elucidate all the vital strategies of growth and dynamics of the market. It also offers profiles of renowned companies that are operating in the global Industrial Robot market.
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Global Industrial Robot Market: Notable Developments
With regards to recent developments, the global industrial robot market manifest the following moves in the market
- In October 2018, DENSO, leading mobility supplier, acquired EASE Simulation Inc., a firm that specializes in the technology of automotive diagnostics. The full acquisition of EASE Simulation Inc., is expected to enable DENSO to improve the services that are offered within the scope of its non-automotive, Original Equipment Service, and aftermarket businesses
Denso Corporation, Daihen Corporation, Kawasaki Heavy Industries Ltd., Yaskawa Electric Corporation, Mitsubishi Electric Corporation, and Universal Robotics are some of the names to reckon with in the global industrial robot market.
Global Industrial Robot Market: Key Trends
The following factors are expected to propel the growth of global industrial robot market:
Rapid Pace of Industrialization Necessitates Usage of Robots to Maximize Profit
The global industrial robot market is forecasted to be triggered by numerous factors such as high cost of labor, declining price of industrial robots, expanding electronics industry and so on.
Dearth of efficient workforce together with high cost of labor has resulted in the rising adoption of industrial robotics in many of the industrial sectors. Usage of robotics in any business enhances productivity and, hence, the profitability of the company also increases. Companies now treat robots as its helping hand.
The demand for industrial robots is reaching the sky as industrialization is taking place at such a high pace. The extraordinary surge in the global demand for industrial robotics is, as such, quite understandable.
Many businesses are coming up with extremely promising products such as service robots, intelligent warehouses, and self-driving trucks across all parts of the logistics value chain, Industrial robots are also used for packaging and pick-and-place services, and this is further pushing for industrial automation.
Global Industrial Robot Market: Geographical Analysis
Driven by the U.S., North American industrial robot has been experiencing an accelerated growth in installation of robotics for almost a decade now. A record number of 33,192 installations took place in 2017. The U.S. ranks third in terms of robotic density with 189 robots per 10,000 employees.
Germany occupies the fifth position in the global industrial robots market and first in Europe. The country exported nearly 60% of its robotics equipment in the year 2017.
With the production of around 153,000 units in 2016, Japan is the number one manufacturer of industrial robots worldwide. At present, Japan accounts for around 52% of the total supply of robotics globally. Japan exports industrial robots and its parts to countries like Republic of Korea, China, North America, and Europe.
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Driven by electrical/electronics industry, Republic of Korea occupies the third position in global industrial robots market. By far, Republic of Korea has the highest robot density in the world with around 630 robots per 10,000 employees, which is even more than 8 times the average amount globally.
While Asian countries such as Japan, China, Republic of Korea have already established their footprint in the global industrial robots market, India has a long way to go. Despite low robot density, rapid technological advancement and economic growth are likely to offer opportunities for the global industrial robot market.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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