A recent report by Technavio projects that the global industrial robotics services market is expected to expand by USD 7.46 billion between 2024 and 2028, growing at a compound annual growth rate (CAGR) of approximately 6.59%. The increasing demand for industrial robots, driven by advances in automation and artificial intelligence (AI), is a primary factor behind this growth. System integrators are playing a crucial role by incorporating technologies like the Internet of Things (IoT) and specialized software platforms to enhance the commissioning and programming of these robots.
Key players in the market include ABB Ltd., FANUC Corp., Mitsubishi Electric Corp., and Yaskawa Electric Corp., among others. The market remains fragmented, with these companies focusing on innovations to improve robot cell reconfigurability and the integration of advanced features such as 3D vision systems and modular frame designs.
While the adoption of industrial robotics is on the rise across various sectors, including manufacturing, agriculture, and healthcare, challenges such as the high cost of services and the need for significant investments in system engineering and training continue to pose obstacles. However, the long-term benefits, including increased productivity and efficiency, are expected to outweigh these initial costs.
The Asia-Pacific region (APAC) is projected to contribute 39% of the market’s growth during the forecast period, with major contributions from countries like China, Japan, and South Korea. The integration of AI and collaborative robots (cobots) is transforming industries, particularly in applications such as assembly lines, material handling, and high-tech testing laboratories, further driving the market’s expansion.
