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Global Industrial Robotics Market is Poised to Surpass US$ 69.1 Mn by the End of 2027, Says Coherent Market Insights (CMI)An industrial robot is an automatically controlled, multipurpose, reprogrammable device with three or more axes. Typical applications of industrial robots include painting, welding, assembly, palletizing, ironing, product inspection, testing, pick and place, and others with precision, speed, and high efficiency. There are different categories of industrial robots including SCARA robots, Cartesian robots, human-assist robots, gantry robots, and articulated arm robots. Industrial robots evolved over the years and have become far more efficient and accurate than their predecessors. Industrial robots enable humans to focus on a more critical part of the work such as R&D. The global industrial robotics market is estimated to account for US$ 69.1 Mn in terms of value, growing at a CAGR of 6.4% during forecast 2020-2027. Market Drivers
Market Opportunities
Market Trends 1. Increasing use of industrial robotics in the pharmaceutical sector is a key trend The pharmaceutical sector is witnessing a massive shift in overall functioning with the advent of novel technologies such as artificial intelligence, Big Data, and industrial robotics. Many pharmaceutical companies have started adopting these technologies to further their R&D activities and boost production. Industrial robotics can be used in packaging and inspection, which saves workers from hazardous environments, repetitive tasks, eliminates human errors, and also potential human contamination. 2. Growing adoption in the food and beverage industry is another key trend any companies in the food and beverage sector are increasingly adopting industrial robotics to replace human intervention, reduce labor costs, and prevent human contamination. Key manufacturers in the robotics industry are focused on introducing specialty robots for the food and beverage sector, in order to accelerate production. For instance, in October 2018, ABB launched a new robotic system for the food and beverage industry at PackExpo in Chicago, U.S.
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Competitive Section: Key players involved in the global industrial robotics market are KUKA (News - Alert) Robotics Corporation, Daihen Corporation, Kawasaki Heavy Industries Ltd., Yaskawa Motoman Robotics, Mitsubishi Electric Corporation, Denso Corporation, FANUC Ltd., Denso Corporation, Nachi Robotic Systems, Inc., Universal Robots, Epson America (News - Alert), Inc., ABB Group, and Panasonic Corporation. Key Developments:
Buy-Now this Research Report @ https://www.coherentmarketinsights.com/insight/buy-now/4175 Market Segmentation: Market Taxonomy: 1. By Geography
2. By Type
3. By Industry
4. By Function
Related Market Intelligence Report: Smart Machines Market, by Component (Hardware, Software, and Services), by Machine Type (Robots, Autonomous Car, Drones, Wearable Device, and Others), by Technology (Cloud Computing, Big Data, Internet of Everything, Robotics, Cognitive Technology, and Affective Technology), by Vertical (Manufacturing, Transportation and Logistics, Healthcare, Consumer Goods and Retail, Aerospace & Defense, and Others), and by Geography (North America, Europe, Asia Pacific, and Latin America, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027 Read more: https://www.coherentmarketinsights.com/market-insight/smart-machines-market-3397 About Us: Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.
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