Industrial robots are the fundamental element of industrial robotics. Rising focus on increasing the productivity in the manufacture of electric vehicles and electronic gadgets has emerged as a key factor driving the global industrial robotics market.
The primary reason behind using industrial robots in the industrial robotics field is due to the need to integrate a new approach to the existing production cycle. The deployment of industrial robots has led to reduced waste and defects as well as minimal downtime in the manufacturing cycle. The industrial robotics market is expected to witness strong growth in future owing to the rising human-computer interaction and cloud-based technologies, further improving the quality of hardware control.
One of the benefits of industrial robotics is it has helped improve the operator capacity and refute the disadvantages of conventional work in industries. An industrial robot can be controlled automatically, and is reprogrammable. Industrial robots have been found to provide high return on investments for producers and entrepreneurs in the global industrial robotics market. In addition, the rising deployment of industrial robots in the consumer electronics and automotive industries is influencing the growth of the industrial robotics market.
Collaborative Industrial Robots Witnessing High Demand Across Various Industries
A specific type of industrial robot called collaborative robot has been built to help manual operators in a production facility. Collaborative robots can perform repetitive activities at faster speeds and help companies improve their production output.
Collaborative robots can also automate work with ease and as a result, are suitable for use in several application areas such as screw driving, quality inspection, packaging, and lab testing. Collaborative robots are also attracting demand in retail and healthcare industries.
Several market players such as Franka Emika GmbH and Universal Robots have deployed collaborative robots to perform various manufacturing activities.
Asia Pacific Anticipated to Witness Maximum Growth in Industrial Robotics Market in Future
In terms of region, Asia Pacific is expected to be the fastest growing market for industrial robotics in future since the small and medium enterprises in countries such as India, China, and Japan are integrating robotics in their production process.
Also, Asia Pacific is expected to provide a large return on investments by deploying industrial robots in their manufacturing process, which could fuel the growth for the industrial robotics market in this region.
In North America, Mexico is anticipated to provide profitable growth opportunities for the industrial robotics market, in future, due to its high demand in several application areas in the country. Other countries in North America are equipped with high-quality, modern production facilities. These facilities will rely on technologically-innovative products, which work at lower costs and higher speed. Industrial robots could witness a surge in demand at these facilities.
In terms of the density of industrial robots, South Korea is expected to dominate the industrial robotics market, in future.
Europe could also witness strong growth in the industrial robotics market, with countries such as UK, Italy, France, and Germany contributing hugely to the growth of the market, in this region.
Some of the key players in the industrial robotics market include FANUC Ltd., Denso Corporation, and KUKA Robotics Corporation. Players in the industrial robotics market, particularly in Asia Pacific countries, are also conducting extensive research and development activities to develop technologically advanced industrial robots.
High Costs Could Dent Industrial Robots Demand, Among Emerging Players
While industrial robots have proven beneficial to the manufacturing process for several reasons, they do have their drawbacks. Many industrial robots are expensive and post-procurement, incur high installation, training, and maintenance costs. Emerging players in the industrial robotics market usually have constrained budgets and may not be in a position to handle such large costs.
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