The global industrial robotics market is projected to expand by USD 16.71 billion from 2024 to 2028, with an estimated compound annual growth rate (CAGR) of 13.26% during this period, according to a report by Technavio. This growth is driven by increased demand for industrial robots across various sectors.
The report, titled “Global Industrial Robotics Market 2024-2028,” outlines several key trends and challenges within the market. One of the primary growth drivers is the integration of Internet of Things (IoT) capabilities, which enhance robot applications and operation modes. Articulated robots, particularly those from companies like Yaskawa Electric and Denso, are becoming increasingly popular due to their real-time performance data capabilities and applications in material handling, assembly, and welding.
Despite the positive growth trajectory, the market faces significant challenges. There is a notable shortage of skilled workers needed to operate advanced robotic technologies, which poses a barrier to widespread adoption. This issue is particularly pronounced in regions such as Africa, the Middle East, Brazil, and emerging economies like China and India, where labor costs and the need for skilled labor are critical concerns.
The market segmentation includes various types of robots, such as articulated, SCARA, cylindrical, and others. Articulated robots, known for their precision and versatility, are widely used in industries such as automotive, metals and machinery, and pharmaceuticals. These robots play a critical role in tasks like soldering, painting, and assembly lines, and their deployment is expected to increase due to the global shortage of skilled labor and the rising demand for high-quality products.
The market also includes other segments based on end-user industries, such as electrical and electronics, automotive, metal and machinery, pharmaceuticals, and others. Geographically, the market is segmented into regions including Asia-Pacific (APAC), Europe, North America, South America, and the Middle East and Africa.
Key companies profiled in the report include ABB Ltd., b m surface systems GmbH, Comau Spa, DENSO Corp., Durr AG, FANUC Corp., Kawasaki Heavy Industries Ltd., MIDEA Group Co. Ltd., Mitsubishi Electric Corp., NACHI FUJIKOSHI Corp., OMRON Corp., Relay Robotics Inc., Rethink Robotics GmbH, Robert Bosch GmbH, Rockwell Automation Inc., Seiko Epson Corp., Shenyang Xinsong Robot Automation Co. Ltd., Staubli International AG, Teradyne Inc., and Yaskawa Electric Corp.
The report highlights that the adoption of robotics technology, artificial intelligence, and automation solutions continues to rise, shaping the future of manufacturing industries. The integration of advanced technologies such as sensors, AI, and forecasting tools is enhancing consistency, reducing labor costs, and improving maintenance and integration with assembly lines and supply chains.
