Industrial Robotics Market Estimated to Grow at a CAGR of 9.5% During 2020-2025

Electrical & Electronics is the fastest growing segment in Industrial robotics market and estimated to grow at a CAGR of 9.4%. Electronics sector has also been slowing emerging as a major end user for the industrial robotics market with its higher adoptability due to growing digitalization. Since accuracy and precision are one of the important factors in an electronic production plant, thus due to ease of use, the electronics sector has been proactively adopting industrial robots, boosting its market growth. With growing shift towards automation of manufacturing processes, industries like electrical and electronics have been widely deploying the industrial robots to perform high precision tasks, thus improving the productivity standards. Usage of industrial robots helps the electrical and electronics companies to automate almost every manual tasks while adding value to their business growth. Thus, growing adoption has been causing a positive impact on the market growth of industrial robots. With growing development of electronics sector due to rising demands for electronic devices by the consumers has been also acting as a major driver towards higher requirements for industrial robots.  As the industries are shifting towards  smart technologies, industrial robots are gaining much popularity in the electronics sector due to their capabilities of performing tasks like integration and assembling of various small sized components within the electronic devices such as  mobile phones , computers and many others more efficiently within less time intervals. Since the electronics manufacturers have to work under tight profit margins, industrial robots act as a cost effective solution for improving the automation standards in their industry. Industrial Robots are used in applications ranging from cutting metal housings to assembling miniature components on boards, to applying adhesives and polishing surfaces, thus performing quality inspections and packing of finished products, within lower costs. Moreover, in the electrical and electronics sector, industrial robots are utilized mainly in assembly, screw tightening , electronic parts insertion as well as inspection process  as the robots are highly capable of sustaining harsh working environments. Such growing deployments helps the industry to continue with their production process with quality preservation even at times of lack of skilled labor. Additionally, with innovations in the field of industrial robotics, lightweight and smaller robots are facing high demands in this sector.

Geography- Segment Analysis

APAC dominated the Industrial Robotics market in 2019 with a share of 58%, followed by Europe and North America. High and early adoption of advanced technologies in countries such as India, China is set to boost the market growth. The strong financial position allows it to invest heavily in the adoption of latest tools and technologies for ensuring effective business operations. The Chinese government’s ‘Made in China 2025’ policy aims at improving the competitiveness of Chinese companies though automation. As part of the strategy to achieve this, the government’s Robotic Industry Development Plan gives a target robot density (the number of robots per 10,000 workers) of 150 by 2020. In addition according to CRIA forecasts sales of industrial robots will reach 625,000 by the end of 2020. On the other hand, the Chinese government invested $577 million for the development of intelligent robots. Moreover, the automotive industry is the major adopter of industrial robotics with a wide variety of applications and thus the growing automotive industry in this region will propel the market. Companies such as BAIC Motors, Changan Automobile Group, have been investing heavily for the adoption of robotics in the forecast period 2020-2025. In addition, the launch of ‘Make in India’ has increased the focus on Indian manufacturing sector, which is set to be among the fastest growing market in the APAC region as well as globally. The manufacturing sector’s growth output has increased and is projected to exhibit high growth through 2020. The government of India has committed to invest more than $13 billion for industrial robotic R&D. The government estimates the manufacturing sector value could reach $1 trillion by 2025. Major companies such as GE, Bosch and Panasonic are planning to invest in the country which would boost India’s economic growth.

Drivers – Industrial Robotics Market

• Robotic Process Automation and Artificial Intelligence Automation Spending Driving the Growth of Industrial Robots