Industrial robotics is a mechanical device that is used in various industrial applications such as printing, packaging, manufacturing, assembling, welding, testing, and others. Industrial robotics is programmable machines that are used in the replacement of humans as they can perform repetitive or risky tasks with extreme accuracy. The different types of industrial robotics such as cartesian robots, SCARA robots, delta robots, polar robots, collaborative robots, and others. It has many advantages such as consistent quality results, higher Return on Investment (ROI), and reduces mistakes and waste. So, these advantages make robots the future of the industry.
The high cost of labour as well as lack of skilled workforce proliferating the demand for the Industrial Robotics Market during the forecast period. Several leading companies have implemented industrial robotics solutions to minimize labour costs and operational efficiency. Although, the initial cost of procuring robots is high, from the long-run point of view it has numerous advantages such as high productivity, efficiency, and profits. Moreover, the labour wages are higher in the American as well as a European region, and Asia-Pacific is also expected to witness a rise in the labour cost, proliferating the demand for robots during the forecast period. Furthermore, the human limitation to perform a specific task without mistakes and wastage favours the market growth. For instance, according to the International Federation of Robotics (IFR), 2020, it is estimated around 2.7 Mn of robots work in industries across the globe.
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The increasing penetration of the internet coupled with the growing e-commerce industry across the globe is one of the major factors for the growth of the industrial robotics market. For instance, according to a parcel shipping index published by Pitney Bowes, there were 103 billion packages shipped across the globe in 2019, which estimates 3,250 packages per second. With the current growth rate, the number is likely to double by 2026. Moreover, the various use of robots in the e-commerce industries such as bringing a homogenous pallet into the fulfilment centre, separating products and placing them into bins for storage, grabbing a good and putting it onto a conveyor sortation system, getting items out of a carton, and others. This makes a robot a viable option for the e-commerce industry. Furthermore, the shortage of labour due to the COVID-19 pandemic, to meet the demand for the adoption of robots in the e-commerce sector provided an attractive opportunity for market growth during the forecast period.
The rise in investments across the industries accelerating the industrial robotics market. The major demand for industrial robotics is being observed in several sectors such as automotive, pharmaceuticals, packaging, consumer electronics, and machinery. The market players across the globe invested in collaborative robots at a higher rate for increasing flexibility in production. For instance, Nissan Motor Company acquired two lines of UR 10, collaborative robots arms from Universal Robots at the Yokohama plant to offer more time to human workers for obtaining valuable line experience and eliminating takt time overruns.
By Product Type
- Pick and Place
- Welding & Soldering
- Material Handling
- Cutting & Processing
The emergence of collaborative robots or cobots is a major industrial robotics trend and a driver for the growth of the market throughout the forecast period. Cobots is mainly designed for safe physical interaction with humans in a shared workspace are finding their place in a wide range of industries. Safe coexistence is increasingly essential in environments in which human beings want to work closely with robots in greater sporadic and intermittent ways, which include bringing robots different materials, changing applications and analyzing new runs.