Future Markets Insight (FMI) has released a study on the market analysis for the industrial robotics sector.
Globally, the industrial robotics market is expected to grow ~18% by 2029 from $17 billion in 2018. FMI has found the reasoning for this increase is largely the automotive industry followed by the electrical/electronics and auxiliary industry through the growing adoption of the Internet of Things (IoT) and the digitalization of manufacturing across the globe. Specifically, SCARA and articulated robots are growing in demand due to the increase in production in these industries.
As of now, East Asia holds a significant market share in this segment with South Asia projected to grow from 2019 to 2029. FMI says this is due to the rapid growth of factory automation rates in China, India, and Vietnam.
We've gathered some of the top market players who are recognized as global leaders in industrial robotics along with the types of robots they offer and what industries and applications they are suited for in the gallery above.
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