The Industrial Robotics market is projected to grow from USD 17.0 billion in 2023 and is projected to reach USD 32.5 billion by 2028; it is expected to grow at a CAGR of 13.8 % from 2023 to 2028. Rising adoption of Industru 4.0 is one of the major driver of the market.
Major players in the market includes-ABB (Switzerland), FANUC CORPORATION (Japan), Yaskawa Electric Corporation (Japan), KUKA AG (Germany), and Mitsubishi Electric (Japan). The companies achieved their positions with the help of a wide product portfolio and innovating and launching new products. Market players are also trying to broaden their revenue stream by adopting inorganic business strategies such as acquisitions, collaborations, contracts, and agreements; these strategies have also allowed the companies to enhance their products and increase their geographic reach
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For instance, in April 2023, FANUC CORPORATION demonstrated its latest automation technologies at Eastec 2023. The event showcased the benefits of automation and allowed attendees to discuss their production challenges with FANUC CORPORATION specialists. Demonstrations included CRX cobots for machine tending and ease of use and a new desktop CNC milling machine for education.
In October 2022, ABB has partnered strategically with Scalable Robotics (Scalable), a US-based start-up, to enhance its user-friendly robotic welding systems range. The technology developed by Scalable Robotics utilizes 3D vision and embedded process understanding, allowing users to program welding robots without coding. ABB venture capital unit “Technology Ventures (ATV)” has become the lead investor in Scalable's seed funding round. The investment is part of ABB's ecosystem strategy to collaborate with partners offering easy-to-use solutions. The technology from Scalable complements ABB's existing portfolio of no-code programming applications, enabling welders to teach robots through intuitive interactions.
ABB offers innovative solutions in robotics, machine automation, and digital services for various industries such as automotive, electronics, and logistics. With four business divisions namely Electrification, Motion, Process Automation, and Robotics & Discrete Automation, ABB is one of the prominent players in industrial robots and modular manufacturing systems. Their Robotics & Discrete Automation business segment has already installed over 300,000 ABB robots worldwide that cater to various industries such as automotive, food & beverages, chemicals, pharmaceuticals, and more. The company has approximately 10,700 employees in 100 countries worldwide, primarily serving customers in automotive, electronics, and logistics industries. ABB's product portfolio includes traditional, as well as collaborative industrial robots of articulated, parallel, or SCARA design, with a payload capacity ranging from 0.5 kg to 800 kg. The company also provides special-purpose robots such as painting robots and door-opening robots.
FANUC CORPORATION (Japan)
FANUC CORPORATION operates its business through four divisions—Factory Automation (FA), ROBOT, ROBOMACHINE, and Service. The company offers more than 100 different industrial robots under the ROBOT division, catering to various applications. Although FANUC CORPORATION is known for its traditional industrial robots, it also offers collaborative robots with various payloads. The company’s industrial robots contribute to welding, material handling, assembling, and painting automation for several industries, including automotive, electrical & electronics, logistics, food & beverages, cosmetic, and pharmaceutical industries. Some of FANUC CORPORATION’s traditional industrial robots can handle a payload as high as 2,300 kg. Its latest collaborative robots are offered under the CRX line-up. FANUC CORPORATION has also developed the FIELD (FANUC CORPORATION Intelligent Edge Link & Drive System), an open platform for improved productivity, efficiency, and centralized management of industrial equipment, including industrial robots. FANUC CORPORATION has a strong track record of developing new and innovative robotic technologies, such as its collaborative robots and SCARA robots. This focus on innovation has allowed FANUC CORPORATION to stay ahead of the competition and provide its customers with the most advanced robotic solutions available.
Industrial Robotics Market by Type (Traditional, Collaborative), Component, Payload (Upto 16.00 Kg, 16.01-60.00 Kg, 60.01-225.00 Kg, More than 225 Kg), Application (Handling, Dispensing, Processing), End Use Industry and Region - Global Forecast to 2028
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