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Industrial Robotics Market: Analysts Expect Robust Growth in 2024

Author : Ronak Bora | Published Date : 2020-09-08 

The potential for cyber-physical system to improve operational efficiency in manufacturing processes is humongous. Industrial robotics market proceeds, which has indeed been appreciable in recent years can be majorly credited to this fundamental aspect. It is further imperative to mention that as automation technologies such as robotics, machine learning occupy an increasingly demanding role in industries, their impact on the workplace in terms of safety security, asset tracking, and supply chain has become a point of focus for the research fraternity.

In this regard, with the concept of Industry 4.0 (fourth Industrial Revolution) being already set in motion and the influx of technological advancements focusing on maximizing the operational throughput, industrial robotics market demand is bound to witness a marked rise over the ensuing years. According to a recent published report by International Federation Robotics(IFR), globally almost more than 1.4 million industrial robots would be deployed into factories by 2019. As claimed by experts, if the forecast figure of 1.4 million deployment is touched by next year, it would be around 1 million more than that of the record-breaking year of 2015. The aforementioned statistics is quite indicative of the exponential growth curve ahead for industrial robotics market.

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With automation technology gaining widespread popularity across several end-use sectors, the industrial robotics market forecast shows significant promise. Automation technology utilization helps reduce production times and excessive variable expenses pertaining to labor and electricity. Labor costs in regions like North America and Western Europe are extremely high, with wages in Germany surpassing $38 per hour, which means these markets can benefit greatly from industrial robotics technology application.Top Key Players In Industrial Robotics Market are ABB Group, Denso Corporation, Epson America, Inc., Fanuc Corporation, Kawasaki Heavy Industries, Ltd., KUKA AG, Mitsubishi Electric Corporation, Nachi Fujikoshi Corp., OTC Daihen, Inc., Panasonic Welding Systems Co. Ltd., Rethink Robotics Inc., Staubli Group, Universal Robots A/S, Yamaha Motor Co. Ltd., Yaskawa Electric Corporation

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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