Industrial Robotics Market Size To Reach USD 94.8 Billion By 2032 … – GlobeNewswire

Fort Collins, Colorado, Sept. 28, 2023 (GLOBE NEWSWIRE) -- DataHorizzon Research Published a report titled, "Industrial Robotics Market Size, Growth, Share, Statistics Report, By Component (Robotic Arm, Robot Accessories, Additional Robotic Hardware, System Engineering, and Software and Programming), By Payload, By Application, By End-use, By Region Forecasts, 2023-2032."

According to DataHorizzon Research, Theindustrial robotics market size was valued at USD 29.1Billion in 2022 and is anticipated to reach USD 94.8 Billion by 2032 with a CAGR of 12.6%. Industry 4.0 is influencing the growth of the industrial robotics market. Many industries are witnessing the introduction of new technologies that create entirely new ways of serving existing needs. The key trend is the development of technology-based platforms, which combine demand and supply. These technology platforms are easy to use with the help of smartphones and convenient for people, assets, and data. As the trend of Industry 4.0 continues to make deeper inroads in the manufacturing sector, industrial robotics is gaining popularity globally.

In the automotive industry, assembly lines frequently encounter problems such as injury hazards, a slow production duration, and concerns regarding final product quality. Robots help in overcoming these glitches as they are cost-effective and quick at completing the required task. Robots are very efficient in their jobs, and any job that is deemed hazardous or manually difficult can be accomplished by robots. Therefore, robots are increasingly used to assemble parts, welding, painting, material removal, and part transfer in the automotive sector. Furthermore, collaborative robots operate alongside humans in the same workspace and can do several activities in the automotive sector. Therefore, these factors are fueling the market expansion.

With the improvement of industrial robotic technology and the integration of AI and 3D computer vision, these robots are utilized for various jobs in a manufacturing warehouse, such as completely automated depalletization and mixed product handling.

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Report Snapshot:

Segmentation Overview:

The global industrial robotics market has been segmented as component, deployment, application, and region. The robotic accessories segment held the largest market share in 2022. Accessories for industrial robots include end-effectors, controllers, attachments, and sensors.The chemical rubber and plastics segment is expected to register a positive CAGR during the forecast period. The demand for robots in the chemical industry is increasing due to their ability to handle hazardous and toxic chemicals, with their precise and accurate operation in dispensing, mixing, and handling a variety of chemical compounds.

North America is also expected to hold a significant industrial robotics market share. With the increasing prominence of automation in the U.S. and Canada, the need for industrial robots and collaborative bots is rising, boosting market growth. The Middle East and Africa region is expected to grow at a high CAGR during the forecast period. With the advent of IIoT and the integration of Artificial Intelligence, robot use cases in the Oil and Gas industries have increased, boosting the market demand in this region.

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Industrial Robotics Market Report Highlights:

Key Developments in the Industry:

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Industrial Robotics Market Report Segmentation:

Industrial Robotics Market, By Component (2023-2032)

Industrial Robotics Market, By Payload (2023-2032)

Industrial Robotics Market, By Application (2023-2032)

Industrial Robotics Market, By End-use (2023-2032)

Industrial Robotics Market, By Region (2023-2032)

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DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHRs comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.

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Industrial Robotics Market Size To Reach USD 94.8 Billion By 2032 ... - GlobeNewswire