Industrial Robotics Market Competition Assessing Key Challenges and Opportunities | Taiwan News
The global Industrial Robotics Market was valued at US$ $$ billion in 2022 and is projected to reach US$ $$ billion by 2032, with a compound annual growth rate (CAGR) of $% during the forecast period from 2024-2032. The market is moderately consolidated with immense growth potential driven by the rising penetration of the Internet of Things (IoT) and investments in robotics across regions.
One of the key drivers of the Global Industrial Robotics market is the trend towards Industry 4.0, which is driving the use of robotics and smart manufacturing in the industrial sector. Manufacturers are expanding their factories to meet the growing demand for industrial robotics. For example, ABB Ltd. recently inaugurated a new mega robotics factory in Shanghai, China, investing around USD 150 million in the 67,000-square-meter facility.
Major players in the Global Industrial Robotics Market include Kuka Robotics Corporation, ABB Ltd. (ABB Robotics), Panasonic Corporation, Seiko Epson Corporation, Nachi-Fujikoshi Corporation (Nachi Robotic Systems, Inc.), and Fanuc Corporation.
The market is expected to grow at a CAGR of $% from 2021 to 2030, with companies adopting various strategies such as partnerships, business expansions, product launches, acquisitions, and agreements to enhance their offerings. The Asia Pacific region dominates the industrial robotics industry, accounting for over 65% of the market share in 2022, and is expected to continue leading throughout the forecast period.
Recent developments in the industry include collaborations between companies like ABB and SKF to improve manufacturing and processing capabilities, as well as the introduction of new industrial robot systems such as Cornell University’s 6,000-pound robot for 3D printing large-scale buildings.
Despite challenges posed by the COVID-19 pandemic, the industrial robotics market is expected to reach over $$ billion by 2030. To capitalize on this growth, stakeholders are encouraged to purchase the strategic report, which offers detailed market analysis, segmentation, investment insights, competitive intelligence, and regional predictions to guide decision-making and strategic planning in the industry. Investment planning and decision-making can be greatly enhanced by obtaining valuable information from reports like this one. Stakeholders can use this information to align their strategies with both regional and global market trends.
Key questions addressed in the report include the current market size in terms of value and volume, historical growth rates, and projected future growth rates. The report also examines market players, their market share, trends, dynamics, and key drivers of market growth.
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