Asia-Pacificcontinues to dominate the global industrial robotics market, and revenues are estimated to top $25.08 billion by 2024, with China, Japan and South Korea driving progress. The European region is the second most important, propelled by the automotive industry and Germanythe fifth-largest country globally for industrial robotics. North America's ongoing trend of production automation and keeping all manufacturing operations in-house puts it in the third position, with forecasted revenues of $6.19 billion by 2024. <\/p>\n
For further information on this analysis, Cobots Transforming the Global Industrial Robotics MarketOpportunities Forecast,please visit: http:\/\/frost.ly\/5m6<\/a> <\/p>\n \"The global battle against the COVID-19 pandemic has proven to be a strong use case for industrial robots, which helped assure business continuity,\" said Nandini Natarajan, Industry Analyst, Frost & Sullivan. \"While 2020 witnessed reduced investments in robotics, the demand for industrial robots will rise sharply from 2021 on. The introduction of low-cost robots and innovative business models such as Robots-as-a-Service (RaaS) are expected to drive demand from small and medium enterprises (SMEs).\"<\/p>\n Natarajan added: \"Collaborative robots (cobots) are experiencing rapid market growth thanks to their utility, ease of installation, and consistently decreasing price, making them an affordable and viable solution for a wide range of applications. It will be the fastest-growing segment by 2024, recording a CAGR of 32.8% (2019-2024) and reaching $1.78 million in global revenues. Advances in 5G and edge computing will be instrumental in equipping cobots with improved flexibility and easier implementation.\"<\/p>\n For further opportunities, market participants should explore these strategic recommendations:<\/p>\n Cobots Transforming the Global Industrial Robotics MarketOpportunities Forecastis part of Frost & Sullivan's global Industrial Automation https:\/\/ww2.frost.com\/research\/industry\/information-communications-technologies\/Growth<\/a> Partnership Service program.<\/p>\n About Frost & Sullivan<\/p>\n For six decades, Frost & Sullivan has been world-renowned for its role in helping investors, corporate leaders, and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models, and companies to action, resulting in a continuous flow of growth opportunities to drive future success.Contact us: Start the discussion.<\/p>\n Cobots Transforming the Global Industrial Robotics MarketOpportunities ForecastK518-10<\/p>\n Contact:Francesca ValenteGlobal Corporate Communications E: [emailprotected]http:\/\/ww2.frost.com<\/p>\n SOURCE Frost & Sullivan<\/p>\n http:\/\/www.frost.com<\/a><\/p>\n <\/p>\n See the original post: <\/p>\n Cobots Lead the Future of the Global Industrial Robotics Market, Finds Frost & Sullivan - PRNewswire<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Asia-Pacificcontinues to dominate the global industrial robotics market, and revenues are estimated to top $25.08 billion by 2024, with China, Japan and South Korea driving progress. Continue reading