Industrial Robotics Market worth 79.58 Billion USD by 2022

According to the new market research report “Industrial Robotics Market by Type (Articulated, Cartesian, SCARA, Cylindrical, Parallel), Application (Automotive, Electrical and Electronics, and Metal and Machinery), Component (Controller, Sensors, Drive), and Geography – Analysis & Forecast to 2022″, the industrial robotics market is expected to grow at CAGR of 11.92% between 2016 and 2022, and reach USD 79.58 Billion by 2022.The report includes an in-depth analysis of the market segmented on the basis of type, component, industry, and geography. The growth of the market is majorly attributed to the adoption of automation to ensure quality production while meeting market demand as well as the growing demand from small- and medium-scale enterprises in developing countries.

Articulated robots are expected to lead the global industrial robotics market

Articulated robots held the major share of the market in 2015, and this market is expected to grow at the highest CAGR between 2016 and 2022. Owing to the structure and operational capabilities of articulated arm robots, they are widely used by various industrial applications in the automotive and electrical and electronics industry among others.

The APAC market is expected to grow at the highest CAGR between 2016 and 2022

The APAC market is expected to grow at the highest CAGR between 2016 and 2022. The main drivers for this growth are the demand for collaborative industrial robots from small- and medium-scale enterprises in China, Japan, South Korea, and India as well as the growing investments in countries such as India to boost manufacturing under projects such as Make in India.

Electrical and electronics industry is expected to grow at the highest CAGR between 2016 and 2022

The market for industrial robotics in the electrical and electronics industry is expected to grow at the highest CAGR between 2016 and 2022 owing to the introduction of new electronic products into the market, the miniaturization of electrical and electronics equipment, and complexity in manufacturing processes.

The major players in the industrial robotics market are ABB Ltd. (Switzerland), KUKA AG (Germany),FANUC Corp. (Japan), Yaskawa Electric Corp. (Japan), and Kawasaki Heavy Industries Ltd. (Japan) among others.

In this research report, the global industrial robotics market is segmented on the basis of type, component, industry, and geography. This report describes the drivers, restraints, opportunities, and challenges for the growth of the industrial robotics market. The Porter’s five forces analysis has been included in the report, along with a description of each of its forces and its respective impact on the global industrial robotics market. This report gives a detailed view of the market across geographies, namely, the Americas, Europe, Asia-Pacific, and RoW. APAC dominated the market in terms of revenue generation in 2015. Major automotive manufacturing companies are investing immensely in the APAC region, thus attracting new players toward the industrial robotics market.