Global Industrial Robotics Market Report, published by Variant Market Research, forecast that the global market is expected to reach $77.7 Billion by 2024 from $38.2 Billion in 2016, growing at a CAGR of 9.3% from 2016 to 2024. By geography, Asia-Pacific and Rest of the World are expected to grow at a CAGR of 9.9% and 9.2%, respectively, during the forecast period.

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Global industrial robotics market is driven by high usage of industrial robotics in the manufacturing industry, evolving robotics & artificial intelligence (AI) industry, rise in demand for automation activities in various industries and reduction in custom duties. However, high cost of industrial robotics solutions may decline the growth of the market. Moreover, arrival of new technologies in addition to increased competition in the market, and growing demand for automation in non-conventional sectors, such as micro-electronics are expected to equally influence the overall growth of the market in the upcoming years.

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Type, industry vertical, function, and geography are the primary classification of the global industrial robotics market. Type segment includes articulate, cylindrical, SCARA, cartesian, and other types. Among which, articulated robots dominated the type segment in 2016, owing to increase usage of these robots currently in emerging industries such as packaging and healthcare sectors. Industry vertical comprises automotive, metals, machinery, precision & optics, electrical & electronics, chemical, food & beverages, rubber & plastics, and others. Here, automotive dominated the industry segment and food & beverage is to grow at fastest CAGR during the forecast period. Function comprises materials handling, soldering & welding, painting & dispensing, milling, assembling & dissembling, cutting & processing, and others. Where, material handling is the largest segment by function due to its increasing demand over diversified industries such as packaging, electronics, where the market for robot is still at nascent stage.

North America, Europe, Asia-Pacific, and Rest of the World (RoW) are the major geographical sub segments of the global industrials robotics market. Asia-Pacific accounted the highest market share in 2016. Asia-Pacific is also attributed to grow at a fastest CAGR from 2016 to 2024, driven by heavy investment in research & development and infrastructural developments. While, North America accounted for the second largest market share with 22.3% in 2016

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The prominent players operating in the market include Kawasaki Heavy Industrials Ltd., Epson America, Inc., Denso Corporation, Mitsubishi Electric Corporation, Panasonic Corporation, Diahen Corporation, Yaskawa Electric Corporation, and Fanuc Ltd, KUKA Robotics Corporation, Universal Robotics, among others.

Scope of Global Industrial Robotics Market
By Type
• Articulated
• Cartesian
• SCARA
• Cylindrical
• Others

By Industry Vertical
• Automotive
• Electrical & Electronics
• Chemical, Rubber & Plastics
• Machinery
• Metals
• Food & Beverages
• Precision & Optics
• Others

By Function
• Soldering & Welding
• Materials Handling
• Assembling & Disassembling
• Painting & Dispensing
• Milling, Cutting & Processing
• Others

Geographical Segments:
• North America
o U.S.
o Canada
o Mexico

• Europe
o UK
o Germany
o France
o Italy
o Others

• Asia Pacific
o China
o India
o Japan
o South Korea
o Others

• RoW
o South America
o Middle East
o Africa

About Variant Market Research
Variant Market Research offers syndicated and customized reports to fulfill clients' objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise are data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.
For further information, visit https://www.variantmarketresearch.com

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