Industrial Robotics Market Rapidly Growing Dynamics with Current Outlook 2023 | By Demands, Trends

 According to a new report published by Allied Market Research, titled, Global Industrial Robotics Market by Type, Industry, Function, and Region: Global Opportunity Analysis and Industry Forecasts, 2017-2023, the global industrial robotics market was valued at $37,875 million in 2016, and is projected to reach $70,715 million by 2023, growing at a CAGR of 9.4% from 2017 to 2023.

The automotive industry segment dominated the global industrial robotics market in 2016, with a revenue contribution of $16,630 million. However, this segment is expected to witness sluggish growth in the near future, owing to slowdown in the automotive industry in the past years and grow at a CAGR of 8.9% during the forecast period. The food & beverages segment is expected to grow at a significant CAGR of 11.0% during the forecast period, owing to spiraling growth of the food & beverages industry. Moreover, increase in need for customized solutions to make the process faster especially in the untapped regions, such as Brazil, Argentina, and South Africa, is expected to drive the food & beverages industry.

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Leading Players:

The key players operating in the industrial robotics industry are Daihen Corporation, Denso Corporation, Epson America, Inc., Fanuc Ltd., Kawasaki Heavy Industries Ltd., KUKA Robotics Corporation, Mitsubishi Electric Corporation, Nachi Robotic Systems, Inc., Panasonic Corporation, and Universal Robotics.

Key Findings of the Global Industrial Robotics Market:

  • Presently, the articulated robot segment dominates the industrial robotics market, and is expected to this trend throughout the forecast period.
  • Automotive is the largest application segment in the present scenario, and is projected to maintain its dominance throughout the forecast period.
  • The food & beverages segment is expected to witness fastest growth rate in the near future.
  • The material handling is the largest segment in the present scenario, and is expected to maintain this trend during the forecast period.
  • Asia-Pacific is the largest regional market in the world, followed by North America. It is expected to witness robust growth in the near future.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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