From GlobeNewswire: 2024-05-21 19:30:00

The Industrial Robotics Market is valued at $17.0 billion in 2023 and projected to reach $32.5 billion by 2028, growing at a CAGR of 13.8%. Increasing demand for collaborative robots and Industry 4.0 adoption contribute to market growth. Major companies include ABB, FANUC, Yaskawa, KUKA, and Mitsubishi Electric.

The electronics industry is embracing automation to maintain profit margins, benefiting from customizability similar to the automotive industry. Robotics offer flexibility throughout production, optimizing tasks from assembly to quality control. Workforce skills and interoperability pose challenges but investing in robotics enhances efficiency and empowers workers.

Industrial robotics market growth is driven by technological advancements, expanded applications, and increased adoption across sectors. Innovations such as cobots, AI, and IoT integration make robots more versatile, intelligent, and capable, performing tasks from welding to material handling. Strategic partnerships and regulatory evolution characterize the dynamic industry landscape with continuous investment in R&D.



Read more at GlobeNewswire: Industrial Robotics Market – Demand, Growth, and Industry