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Industrial Robotics Market Value to Hit US$ 142.8 Billion in 2032, At CAGR 11.4%

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New York, March 09, 2023 (GLOBE NEWSWIRE) — The global industrial robotics market was valued at around USD 48.5 billion in 2022 and is expected to reach approximately USD 142.8 billion in 2032, growing at a CAGR of slightly above 11.4% between 2023 and 2032. An industrial robot is a type of mechanical machine which automatically perform production-related tasks in the industry. Industrial robots are reprogrammable and they can be reprogrammed many time depend on industrial needs.

global industrial robotics market

Get additional highlights on major revenue-generating segments, Request a global industrial robotics market sample report at https://market.us/report/industrial-robotics-market/request-sample/

Key Takeaway:

  • By Robot Type, in 2022, the articulated robots segment has generated largest revenue share in 2022.
  • By Application, the material handling segment has dominated the market and it is accounted for largest global revenue of 45% in 2022.
  • By End-Use Industry, the automotive segment had dominated the market and it is accounted for largest global revenue of 43% in 2022.
  • In 2022, Asia Pacific dominated the market with the highest revenue share of 49%.
  • North America region is expected grow at a significant CAGR from 2023-2032.

Industrial robots contain sensors, microphones, cameras that keep robot aware about industrial atmosphere. Industrial robots help to perform easy and efficient processes in manufacturing industries.

Factors affecting the growth of the industrial robotics market

Several factors can affect the growth of the industrial robotics market. Some of these factors include:

Top Trends in Global Industrial Robotics Market

Consumers preference is increasing for purchasing products online, which is increasing business for ecommerce. Implementation of automated robotics system is the priority of distribution centres which is driving demand for robots.

For manufacturing processes adoption of automation in automotive industries is increasing which is the primary factor for increasing demand in automotive sector.

Emergence of industry 4.0 has fuelled the developments of new technologies such as AI enabled robots. Such advanced technologies help in safety and production capacity. Due to this companies are started investing in robotic systems.

Market Growth

The global industrial robotics market is driven by the significant use in material handling in various manufacturing industries for material handling.

Market growth is also attributed by increasing need for industrial robots due to rise in small enterprises, and strict government regulations on handling of hazardous materials and products.

Collaborative robots are work with human beings through interaction in shared workforce. They have ability to easily automate the work hence are used in variety of applications such as packaging. Thus growing demand for collaborative robots is main factor for market growth.

Regional Analysis

The industrial robotics market was dominated by Asia Pacific, which acquired the most significant revenue share of 49% in 2022. Growth in this region can be attributed to increased automation, especially in Japan, China, and India. The use of robots in industrial applications is increasing in region in order to fulfil demand. Also, growing manufacturing industries in emerging economies in this region also driving the market growth.

North America is expected to show significant growth in industrial robotics market during forecast period owing to advancements in R&D, and high adoption of technologies.

Manufacturers are now focusing on adopting collaborative robots in Europe, which is predicted to boost the market in Europe Region.

Competitive Landscape

Emerging key players are focused on a variety of strategic policies to develop their respective businesses in foreign markets. Several industrial robotics market companies are concentrating on expanding their existing operations and R&D facilities.

Some of the major players include YASKAWA Electric Corporation, Mitsubishi Electric Corporation, KUKA AG, Comau SpA, KUKA Robotics Corporation, FANUC American Corporation, DENSO CORPORATION, Kawasaki Heavy Industries Ltd., Omron Corporation, DAIHEN Corporation, Seiko Epson Corporation, Panasonic Corporation, Epson America, Inc., and Other Key Players.

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Scope of the Report

Report Attribute Details
Market Value (2022) USD 48.5 Billion
Market Size (2032) USD 142.8 Billion
CAGR (from 2023 to 2032) 11.4%
APAC Revenue Share 49%
Historic Period 2016 to 2022
Base Year 2022
Forecast Year 2023 to 2032

Market Drivers

Rapid growth is being experienced by high demand in industries such as pharmaceuticals, consumer electronics, plastic industries, and automotive industry. Industrial robots help companies to reduce waste and remove the possibility of errors caused by human. The shortage of skilled manpower and high labor costs to manage the processes are forcing companies to adopt automation solutions which is driving need for industrial robots in market. Also introduction to smart factories increase demand for industrial robots.

Market Restraints

High installation costs and integration skills required for the initial setup of industrial robots limiting adoption of industrial robots in industries. The initial investment and maintenance costs for use of robotic systems are high, which is restraining the market growth. Also, the lack of skilled professionals for handling robots hinders the global industrial robotics market growth.

Market Opportunities

The industrial robotics industry is also boosted due to growing automotive industries in several emerging economies. The companies have started concentrating at the automation of operational processes to deliver high-quality products, save time, increase productivity, and reduce costs, to meet the competition in market which is expected to create lucrative growth opportunities in global industrial robotics market.

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Report Segmentation of the Industrial Robotics Market

Robot Type Insight

Based on robot type, the articulated robot segment is dominant in market with largest market share and is expected to continue its dominance during the forecast period owing to ability to conduct exact motions repeatedly. The significant use of articulated robots in the food & beverages and pharmaceutical industries is driving this segment’s growth in the robotics market.

Application Insight

On basis of application the material handling segment is dominant in market with market share of 45% and will remain dominant during forecast period owing to high demand for material handling in the food and beverages industry, pharmaceuticals, and electrical industries. It plays important role in industries where chemicals are concentrated, and hazardous.

End-Use Industry insight

Based on end-use industry automotive segment was dominant in market with largest market revenue share of 43% in 2022. Segment is dominant due to industrial robots have large applications in loading and unloading heavy goods, precision in handling, and quick assembling of fine parts.

Recent Development of the Industrial Robotics Market

  • In February 2022, Comau and LUVO introduced wearable robotics solutions to enhance operator work efficiency.
  • May 2021, Kawasaki Heavy Industries, Ltd. And Sony Group Corporation announced an agreement to establish a new company to operate remote robot platform businesses.

For more insights on the historical and Forecast market data from 2016 to 2032 – download a sample report at https://market.us/report/industrial-robotics-market/request-sample/

Market Segmentation

Based on Robot Type

  • Articulated
  • SCARA
  • Cylindrical
  • Parallel
  • Others

Based on Application

  • Material Handling
  • Welding & Soldering
  • Assembling & Disassembling
  • Palletizing, Packaging
  • Painting & Dispensing
  • Milling
  • Cutting
  • Processing
  • Others

Based on End-use industry

  • Automotive
  • Electrical & Electronics
  • Aerospace & Defense
  • Plastic
  • Rubber
  • Chemicals
  • Food & Beverages
  • Healthcare & Pharmaceuticals
  • Metals & Mining
  • Others

By Geography

  • North America
    • The US
    • Canada
    • Mexico
  • Western Europe
    • Germany
    • France
    • The UK
    • Spain
    • Italy
    • Portugal
    • Ireland
    • Austria
    • Switzerland
    • Benelux
    • Nordic
    • Rest of Western Europe
  • Eastern Europe
    • Russia
    • Poland
    • The Czech Republic
    • Greece
    • Rest of Eastern Europe
  • APAC
    • China
    • Japan
    • South Korea
    • India
    • Australia & New Zealand
    • Indonesia
    • Malaysia
    • Philippines
    • Singapore
    • Thailand
    • Vietnam
    • Rest of APAC
  • Latin America
    • Brazil
    • Colombia
    • Chile
    • Argentina
    • Costa Rica
    • Rest of Latin America
  • Middle East & Africa
    • Algeria
    • Egypt
    • Israel
    • Kuwait
    • Nigeria
    • Saudi Arabia
    • South Africa
    • Turkey
    • United Arab Emirates
    • Rest of MEA

Key Market Players

  • YASKAWA Electric Corporation
  • Mitsubishi Electric Corporation
  • KUKA AG
  • Comau SpA
  • KUKA Robotics Corporation
  • FANUC American Corporation
  • DENSO CORPORATION
  • Kawasaki Heavy Industries Ltd.
  • Omron Corporation
  • DAIHEN Corporation
  • Seiko Epson Corporation
  • Panasonic Corporation
  • Epson America, Inc.
  • Other key Players

Browse More Related Reports:

  • Artificial Intelligence Market was valued to be worth USD 129.28 billion in 2022. From 2023 to 2032, it is estimated to reach USD 2745 billion growing at a CAGR of 36.8%.
  • Delta Robots Market is expected to grow at a CAGR of roughly 8.9% over the next ten years and will reach USD 369.9 million in 2028, from USD 203.7 million in 2021.
  • Educational Robotic Market was worth USD 1,006.6 million in 2023. It is expected to grow at a CAGR of 19.3% between 2023 and 2033.
  • Industrial Robotics in Food and Beverage Market was valued at USD 15.7 billion in 2021 and is expected to grow by 11.5% over the forecast period, from USD 16.9 billion in 2022 to USD 36.8 billion by 2030.
  • Machine Vision Market was valued at USD 14.4 billion and expected to reach around USD 30.0 billion between 2023 and 2032, this market is estimated to register the highest CAGR of 7.6%.

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Global Insurance Provider Selects 3CLogic to Streamline AI and Contact Center Capabilities with ServiceNow

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Multinational Insurance Broker to deploy 3CLogic’s solution with ServiceNow’s Financial Service Operations (FSO) platform to streamline customer experiences.
ROCKVILLE, Md., April 25, 2024 /PRNewswire/ — 3CLogic, the leading Conversational AI and Contact Center solution for ServiceNow®, today announced its selection by a global insurance provider to replace its existing contact center infrastructure as part of a larger CX transformation effort. The strategic decision is designed to complement the organization’s use of ServiviceNow’s Financial Services Operations (FSO) offering leveraged across a number of its existing product lines including Customer Warranty Claims, Roadside Assistance, and Home Warranties.

Serving millions of customers worldwide with innovative insurance and protective products, the organization required a solution that would enhance its recent investment in the ServiceNow platform as it works to transform its end-to-end customer service operations. The deployment will incorporate several of 3CLogic’s AI-powered capabilities purpose-built for ServiceNow, including Conversational AI, Speech Analytics, and AI Performance & Coaching, along with integrated call transcriptions, convenient 2-way SMS, and ServiceNow-centralized contact center reporting.
“We continue to see enterprises eager to complement their existing investment in digital platforms, such as ServiceNow, with contact center features purpose-built to extend the workflows and features they already have and use,” explains Matt Durkin, VP of Global Sales at 3CLogic. “It’s no secret that organizations are already juggling too many systems, often with overlapping capabilities, which impacts ROI and operational efficiency. We’re proud to offer an alternative approach that helps simplify the technology stack while optimizing the overall operational costs and outcomes.”
Recently named to Constellation Research’s 2024 Shortlist for Digital Customer Service and Support, 3CLogic has seen global adoption of its solution by leading enterprises in healthcare, manufacturing, travel, retail, higher education, finance, non-profits, and Managed Service Providers across five continents. As a ServiceNow-certified Technology and Build partner with offerings available for ServiceNow’s IT Service Management, Customer Workflows, HR Service Delivery, and Source-to-Pay solutions, the company will be unveiling its latest set of capabilities at ServiceNow’s annual Knowledge 2024 event this May in Las Vegas.
For more information, please contact [email protected].
About 3CLogic3CLogic transforms customer and employee experiences with its leading Cloud Contact Center and AI solutions purpose-built to enhance today’s leading CRM and Customer Service Management platforms. Globally available and leveraged by the world’s leading brands, its offerings empower enterprise organizations with innovative features such as intelligent self-service, generative and Conversational AI, agent automation & coaching, and AI-powered sentiment analytics – all designed to lower operational costs, maximize ROI, and optimize each interaction across IT Service Desks, Customer Support, Sales or HR Services teams. For more information, please visit www.3clogic.com.
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ScreenPoint Medical Leadership Transition: Pieter Kroese Confirmed as CEO

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Leading Breast AI Company, creator of industry-leading Transpara®, promotes from within for new CEO
NIJMEGEN, Netherlands, April 25, 2024 /PRNewswire/ — ScreenPoint Medical, today announced a significant transition in its leadership as Mark Koeniguer, the current CEO, steps down from his position. Mark served as CEO since 2022 and was instrumental in ScreenPoint’s commercial growth and success over the past 2 years.

 
 
The company’s Board of Directors has appointed Pieter Kroese as the new Chief Executive Officer effective April 25, 2024. Pieter takes the role after serving as COO of ScreenPoint for over five years. During that time, he has managed the transition of the company from an early startup to a thriving enterprise with hundreds of customers using ScreenPoint’s flagship Transpara software to support millions of scans a year.
“I am thrilled to lead ScreenPoint into its next phase of growth and innovation,” said Mr. Kroese. “I am deeply committed to building upon the strong foundation we have and continuing to work closely with our talented team to drive continued success. We are already expanding screening capacity and capability through proven reader support – we look forward to increasing our ability to support providers and women moving forward.”
Sir Michael Brady, Chairman of the Board at ScreenPoint Medical and a co-founder of the company, expressed enthusiasm about Pieter’s appointment, stating, “Pieter’s remarkable leadership qualities, coupled with his depth of knowledge of our product and industry, make him the perfect choice to lead ScreenPoint into the future. His strategic mindset and commitment to excellence align perfectly with our company mission of early breast cancer detection. Pieter has been an integral part of our growth to date and will provide seamless leadership through this transition into our next chapter for our customers, partners, and team.”
Author of “No Longer Radical” and over a hundred peer-reviewed publications on breast imaging, Dr. Rachel Brem is a Transpara user and ScreenPoint Board Member. Dr. Brem welcomed Mr. Kroese with the following: “Pieter has been an integral part of the ScreenPoint team for years. I am confident that his leadership will continue to deliver product excellence: earlier detection with outstanding reading workflow and improved patient outcomes. We continue to see these results from clinical sites all over the world, including many here in the United States. No other Breast AI solution has demonstrated the same results as Transpara, and I am confident that the team will continue to push on these frontiers under Pieter’s leadership.” 
The entire team at ScreenPoint extends its gratitude to Mark Koeniguer and wishes him every success in the future, while warmly welcoming Pieter Kroese into his new role as CEO.
About ScreenPoint Medical
ScreenPoint Medical translates cutting edge machine learning research into technology accessible by radiologists to improve screening workflow, decision confidence and breast cancer risk assessment. Transpara is trusted by radiologists globally because it has been developed by experts in machine learning and image analysis and updated with user feedback from world-renowned breast imagers.
See all the proof at: https://screenpoint-medical.com/evidence.
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Robotics Market to Surpass USD 126.96 Billion by 2031 | SkyQuest Technology

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WESTFORD, Mass., April 25, 2024 /PRNewswire/ — The growing need for automation, technological developments, and long-term cost reductions are driving a robust expansion in the worldwide robotics market. SkyQuest projects that Global Robotics Market size is poised to grow from USD 41.50 Billion in 2023 to USD 126.96 Billion by 2031, at a CAGR of 15% during the forecast period (2024-2031).

Download a detailed overview:
https://www.skyquestt.com/report/robotics-market
Browse in-depth TOC on the “Robotics Market”
Pages – 202Tables – 64Figures – 75Robotics Market Overview:
Report Coverage
Details
Market Revenue in 2023
$41.50 billion
Estimated Value by 2031
$126.96 billion
Growth Rate
Poised to grow at a CAGR of 15%
Forecast Period
2024–2031
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Application, End Users, and Region
Geographies Covered
North America, Europe, Asia Pacific, and the Rest of the world
Report Highlights
Collaborative Robotics
Key Market Opportunities
Prompting Several Industries to Adopt Automation Technologies
Key Market Drivers
Increasing Demand for Automation
Surge of Automation is Supporting Growth of Robotics Industry 
The industrial sector is generating high revenues for the global robotics market owing to extensive automation in manufacturing, which increases productivity and lowers overall production costs. Assembly line, painting, and welding robots have become essential, thereby propelling substantial market expansion in the automotive, electronics, and heavy duty sectors. Due to the increased usage of robots for non-manufacturing functions such as customer service, shipping, and healthcare, the services sector is expanding quickly. This rapid growth is being driven by technological improvements and the push for automation in services.
Surge in Advance Robotics is Bolstering Market Growth
The use of robotics in manufacturing processes is growing, and innovation in this field is happening quickly worldwide. By increasing productivity, efficiency, and precision, advanced robotics technologies—such as AI-driven automation systems and collaborative robots, or cobots—are transforming the manufacturing sector. The dominance of manufacturing in the worldwide robotics market is fuelled by the integration of robotics into manufacturing facilities, which helps businesses remain competitive in today’s dynamic market scenario.
Rising Interest in Service Robotics is Driving Demand for Robotics in Asia Pacific
Due to the strong demand for industrial and service robots in the region, Asia Pacific now leads the global robotics industry. China, Japan, and South Korea are among the nations that have made significant investments in the robotics sector recently. The Middle East and Africa are anticipated to register the fastest-growing rate for the global robotics market. The expansion is ascribed to the region’s growing adoption of automation technology, especially in the manufacturing and logistics industries.
Request Free Customization of this report:
https://www.skyquestt.com/speak-with-analyst/robotics-market
Drivers:
Increasing Demand for AutomationAdvancements in AI and Machine Learning TechnologiesRestraints:
High Initial InvestmentsLack of Skilled WorkforceProminent Players in Global Robotics Market:
FANUC America Corporation (US)Epson Robotics (Japan)Staubli International AG (Switzerland)YRG Inc. (US)Comau S.p.A. (Italy)Northrop Grumman Corporation (US)Honda Motor Co., Ltd. (Japan)Seiko Epson Corporation (Japan)Yamaha Motor Co., Ltd. (Japan)Adept Technology, Inc. (US)View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/robotics-market
Key Questions Answered in Global Robotics Market Report
How big is the global robotics market, and what compound annual growth rate (CAGR) is it anticipated to deliver between 2024 and 2031?Which industries are fuelling the need for automation and fostering the expansion of the robotics sector?What impact have recent technological advancements and innovations had on the direction of the robotics market?Which well-known companies in the robotics industry are also major players in the global robotics market?This report provides the following insights:
Analysis of key drivers (increasing demand for automation across industries, improved the overall efficiency, productivity of the processes, demand for automation), restraints (high initial investments, difficult for small and medium-sized enterprises to invest, robots, sensors, and other equipment required not delivered), opportunities (advancements in AI and machine learning technologies, new opportunities for the robotics market, perform complex tasks with high accuracy), and challenges (lack of skilled workforce, maintenance of these robotics systems) influencing the growth of robotics marketMarket Penetration: Comprehensive information on the product portfolios offered by the top players in the robotics marketProduct Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the robotics marketMarket Development: Comprehensive information on lucrative emerging regionsMarket Diversification: Exhaustive information about new products, growing geographies, and recent developments in the marketCompetitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.Related Reports:
Global Service Robotics Market
Global Soft Robotics Market
Global Warehouse Robotics Market
Global Cloud Robotics Market
Global Robotic Welding Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific. 
Contact:Mr. Jagraj SinghSkyquest Technology1 Apache Way,Westford,Massachusetts 01886USA (+1) 351-333-4748Email: [email protected] Our Website: https://www.skyquestt.com/

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