Robot-as-a-service (RaaS) models, swarm robotics, and biological and bio-inspired robotics are three emerging trends in robotics that are expected to gain prominence in the coming years.
NEWARK, Del., Nov. 1, 2023 /PRNewswire/ -- Industrial Robot Market Analysis Segmented by Articulated and Parallel Robot, with Growth Opportunities and Revenue Forecast for 2023-2033
The industrial robot market is anticipated to surpass US$ 5,282.40 million in 2023 and is likely to attain a valuation of US$ 25,828.99 million by 2033. The industrial market share is projected to rise at a CAGR of 17.20% from 2023 to 2033.
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Robotics are transforming patient care, surgical operations, and drug administration in the healthcare industry. For healthcare providers, this means better patient outcomes, fewer human mistakes, and more operational efficiency, contributing to cost savings and higher healthcare quality.
Some robots are being created that can comprehend and respond to human emotions. These robots can prove helpful in healthcare, therapy, and customer service, where emotional exchanges are critical.
Quantum computing is gaining traction in robotics, allowing for more complicated and exact computations. This can be advantageous in businesses that need incredibly precise activities, such as quantum computing manufacturing and scientific research.
Robots incorporated into self-driving cars and drones are transforming the logistics and transportation industries. These robotic solutions streamline last-mile delivery, automate inventory control, and increase operational efficiency, resulting in cost savings and enhanced enterprise delivery services.
Robots in hazardous areas protect human workers from potentially lethal scenarios such as nuclear power plant maintenance or disaster response. This means greater worker safety and operational resilience for enterprises and less costly downtime in mission-critical instances.
Agricultural robots are revolutionizing farming by automating labor-intensive operations like planting, weeding, and harvesting. This trend anticipates firms enhanced productivity, optimized resource utilization, and increased crop yields, preparing them to achieve sustainable and cost-effective farming practices, cheaper labor, and optimized agricultural operations. This is likely to lead to higher revenue and market competitiveness in the rapidly evolving agricultural landscape.
"The industrial robotics industry provides a canvas on which pioneers and visionaries may build new frontiers, expanding the bounds of efficiency, productivity, and sustainable manufacturing processes in this period of extraordinary potential. With a strong commitment to innovation, flexibility, and customer-centricity, industry stakeholders can drive the industrial robotics landscape toward a future of unprecedented growth and transformational technical advancements," says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.)
Key Takeaways from the Industrial Robot Market Report:
Country-wise Insights of Industrial Robot Market (2023-2033):
Countries |
Value CAGR (2023 to 2033) |
Canada Industrial Robot Market Size |
16.30 % |
Germany Industrial Robot Market Share |
10 % |
Japan Industrial Robot Market |
16 % |
Indian Industrial Robot Market |
17.30 % |
China Industrial Robot Market Outlook |
10.10 % |
Gain valuable insights into global, regional, and country-level parameters with growth opportunities, historical data (2018-2022), and forecasts (2023-2033).
Competitive Landscape
Various sectors, from manufacturing to automotive and logistics, aim to automate repetitive and labor-intensive processes to improve operational efficiency and compete in a worldwide market.
Smart factories increasingly employ robots for data collecting, monitoring, and real-time decision-making.
Recent Developments Observed by FMI:
About the Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the United Kingdom, the United States, and India. FMI's latest market research reports and industry analysis helps businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition.
Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
SOURCE Future Market Insights