Industrial robotics services market size to grow by USD 7.43 billion from 2022 to 2027; Surge in demand for industrial robots to drive the growth- Technavio

NEW YORK, Nov. 26, 2023 /PRNewswire/ -- The industrial robotics services market size is expected to grow by USD 7.43 billion between 2022 and 2027. However, the growth momentum of the market will progress at a CAGR of 6.9% during the forecast period. The market is segmented by application (Material handling, Welding and soldering, Assembly line, and Others), end-user (Healthcare and pharmaceuticals, Automotive, Food and beverages, and Others), and geography (APAC, Europe, North America, South America, and Middle East and Africa). The surge in demand for industrial robots is the key factor driving market growth. Industrial robots are used to enhance different applications such as welding, painting, assembly and disassembly,  cutting, and grinding. In addition, many suppliers are developing customized robots to meet market needs and gain a competitive advantage over other suppliers. Therefore, the increase in demand for application-specific industrial robots will have a positive impact on manufacturers who can adopt customized services during the forecast period. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View PDF Sample 

Key Highlights:

• The report recognizes the following as some of the key players in the industrial robotics services market: ABB Ltd., Carl Cloos Schweisstechnik GmbH, DAIHEN Corp., Denso Corp., Durr AG, FANUC Corp., General Electric Co., Hans Laser Technology Industry Group Co. Ltd., Jenoptik AG, Kawasaki Heavy Industries Ltd., MIDEA Group, Mitsubishi Electric Corp., NACHI FUJIKOSHI Corp., OMRON Corp, Panasonic Holdings Corp., Seiko Epson Corp., Staubli International AG, Teradyne Inc., Universal Robots AS, and Yaskawa Electric Corp
• Industrial Robotics Services Market is fragmented in nature.
• Market to observe 5.85% YOY growth in 2023.

Market Dynamics:

Trend- 

• Technological innovations in industrial robotics services are the primary trend in the market. 
• System integrators are taking the initiative to innovate their services by leveraging technological advances such as the Internet of Things (IoT) and software platforms. 
• The programming platform is mainly used to improve the implementation and programming of industrial robots, and trends such as virtual implementation and offline programming will rise during the forecast period.

Challenge- 

• The high costs of the initial investment in a desalination plant is a challenge that affects market growth. 
• Robot system integration includes signing contracts and legal regulations, bidding, and evaluation before deploying and using robots. 
• There are costs associated with the integration of robots, such as on-site training events, as trainers must be hired and travel and accommodation costs for training staff are also paid.

 The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report

Keg Segments:

The market share growth by the material handling segment will be significant during the forecast period.  There is a significant demand for industrial robots used to handle materials in the chemical industry. The market for industrial robotics services in material handling is gaining traction among industrial users for applications such as machine maintenance, metal maintenance, packaging, loading/unloading, palletizing, assembly, and injection molding.

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Related Reports:

The service robotics market is estimated to grow at a CAGR of 22.75% between 2022 and 2027. The size of the market is forecast to increase by USD 48,788.55 million. 

The robotic sensors market size is expected to increase by USD 801.66 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 7.96%.

ToC:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application

7 Market Segmentation by End-user

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Company Landscape

12 Company Analysis

13 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio