Robots are majorly applied to carry out the tasks that are hazardous, repetitive and complex thereby enhancing the productivity and reducing the operational costs of manufacturers drives the market. The articulated robot market holds the largest share in the industrial robotics market with 7,515.2 million in 2017 and is estimated to grow at a CAGR of 3.4% during 2018-2023. APAC holds the largest market share with revenue of $5,668m led by the fast growing Chinese market. The global industrial robotics market was estimated to be $11.28m in 2017 is expected to surpass $14.5 billion mark by 2023 growing at an estimated CAGR of more than 4.4% during 2018 to 2023.
What is Industrial Robotics?
Industrial robots refers to a programmed device that performs its functions based on defined algorithms and can be re-programmed in more than one axis. Industrial robots can be either mobile mounted at fixed positions which can be utilized for factory applications. These are used as transportation devices in manufacturing industries. Light weight industrial robots are speculated to expand their scope in automotive and small scale industry at a more extensive level.
What are the major applications for Industrial Robotics?
Industrial robotics is applied majorly in the manufacturing industry. Besides that industrial robotics has wide range of applications in military, aerospace and pharmaceutical industry. These are used to assist workforce in painting, handling material, welding, packaging, palletizing, pick and place, product inspection, ironing, assembling, case packing, machine tending, adhesive sealing, spraying, gluing, inspection, drilling, sanding, deburring, grinding etc. The various end-users of industrial robotics include automotive & auto parts, electrical & electronics, food & beverages, metal fabrication, pharmaceuticals, chemical, construction, packaging & palletizing, biotechnology, consumer and communication.
Market Research and Market Trends of Industrial Robotics
- Technological advancements and digitization has led to new and diverse applications of industrial robotics across multiple industry sectors. Combining multiple technologies such as, tactile sensing, machine vision, speech recognition, force sensing, and advanced mechanics are providing added value and functionality to the robotic industry. Furthermore, rapid technology improvement has increased robot payloads and flexibility, thereby reducing the total cost of ownership for the manufacturer.
- Robots are increasingly becoming connected with other existing technologies such as RFID tags and pervasive sensors which collect data and allow necessary response. Moreover, converging Big Data with robots has allowed them to conduct predictive maintenance and improve overall plant asset utilization. Future manufacturing applications demand more focus on perception of safety, intuitive handling, ergonomic design, and energy efficiency which will eventually drive toward robots becoming self-powered, and fully autonomous, and self-learning.
- Micro-electromechanical (MEM) sensor technology has been introduced and it is beneficial particularly for the industrial robotics sector, as the technology can be used to, tactile, proximity sensors, and develop navigation. The MEM sensors enable a robot to obtain sensory information to make decisions and execute actions in an autonomous and versatile manner.
- FFROBOTICS recently introduced abundant robotics which has a vacuum tube and a robotic arm, guided by a computer, aided by sensors and cameras to detect crops such as apples, strawberries. They would be replacing labor intensive tasks which are normally performed by farmers. It can pick 10 times more usable fruit than the average human picker and has future capability of data collection and analysis regarding fruit picked per tree.
- Leveraging the cloud to integrate robots and embedded devices into a cloud computing environment is a new delivery model and is known as Robotics-as-a-Service (Raas). Robots can capture data such as customer preferences or inventory status which can be stored in a cloud-based system to be retrieved by human workers to save cost, and increase efficiency, scalability, and flexibility.
Who are the Major Players in Industrial robotics market?
The companies referred in the market research report includes Fanuc Corp, ABB ltd, Yaskawa electric Corp, Adept technology, Apex automation & robotics, Ellison, Kawasaki, Fujikosi, Mitsubishi electric Corp, Pari robotics, Reis robotics.
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