INDUSTRIAL ROBOTICS MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)

 

Industrial Robotics Market Analysis:

The Industrial Robotics Market is currently valued at USD 33.12 billion and is projected to grow at a Compound Annual Growth Rate (CAGR) of 13.4% during the forecast period. Industrial robots have become an integral part of industrial automation, with robots managing many core operations in various industries. The growth of e-commerce, electronics, and the automotive industry, among others, has been fueled by economic growth across regions.

The market’s growth has been significantly contributed to by the increasing penetration of the Internet of Things (IoT) and investments in robotics across regions. For example, the “Made in China 2025” initiative aims to upgrade the Chinese industry by moving towards quality-focused and innovation-driven manufacturing.

Industry 4.0, the latest industrial revolution, has led to the development of new technologies such as collaborative robots and AI-enabled robots, enabling industries to streamline processes, increase efficiency, and eliminate errors. The adoption of robotic systems has been further driven by improved workplace safety and enhanced production capabilities.

The penetration of industrial robots is expected to rise across various industries, including plastics, food and consumer goods, semiconductors and electronics, life sciences, and pharmaceuticals, owing to collaborative robots, which are estimated to account for 34% of total robot sales in 2025 (according to the International Federation of Robots (IFR)). Notably, Apple’s factories are expected to undergo significant factory automation through Foxconn’s robots. The semiconductor industry IC foundries have been among the adopters that have impacted the current market demands.

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