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The global industrial robots market size is expected to reach USD 31.13 billion by 2028. The flourishing E-commerce industry has spurred the need for automated robotic solutions, which, in turn, will bolster the growth of this market during the forecast period, mentioned in a report, titled “Industrial Robots Market Size, Share & COVID-19 Impact Analysis, By Robot Type (Articulated, SCARA, Cylindrical, Cartesian/Linear, Parallel and Others), By Application (Pick and Place, Welding & Soldering, Material Handling, Assembling, Cutting & Processing, and Others), By Industry (Automotive, Electrical & Electronics, Healthcare & Pharmaceutical, Food & Beverages, Rubber & Plastic, Metals & Machinery, and Others), and Regional Forecast, 2021-2028.” The market size stood at USD 14.61 billion in 2020 and is expected to exhibit a CAGR of 10.4% between 2021 and 2028.
Acquisition of AB Rotech by ABB to Consolidate Market
ABB, an innovator in industrial robots, announced the acquisition of AB Rotech, a leader in robotic welding solutions and services for the automotive industry. AB Rotech holds 20 years’ knowledge in automated welding solutions. The merger will aid ABB's robotic welding solutions for all grades in the automotive sector. Since the automotive segment is the largest consumer of robotics, the acquisition will help ABB establish its presence in the automotive industry. AB Rotech will integrate its welding solutions, while ABB will offer its robotics and motion division services for the automotive sector in South-Eastern Europe. Moreover, the expansion of production facilities across countries including Germany, the UK, the United States, and China will spur demand for robotic welding solutions, which, in turn, will increase the industrial robots market share.
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Deployment of Robots in Numerous Applications to Stimulate Business
Robots are being widely used in the food & beverages, automotive, healthcare, and packaging industries. Its capability to perform monotonous tasks with high precision and effectiveness has fueled its demand in various sectors. The increased deployment of robots in the healthcare and medical industry to mitigate the risks of contamination and perform effective surgeries will have a tremendous impact on the industrial robots market growth. For instance, in March 2020, Blue Ocean Robotics, a major producer of professional service robots for the healthcare, hospitality, construction, and agriculture industry, received an order of 2,000 UVD from hospitals located in China. UVD Robots utilize Ultraviolet-C (UVC) light to navigate and disinfect an area. It applies localization and mapping (SLAM) to operate and perform disinfection without the need for human intervention.
Investment Strategies of Mitsubishi to Uphold its Industry Stance
The major companies operating in the market focus on offering innovative robotic technologies to strengthen their position in the market. For instance, in May 2019, Mitsubishi Electric Corp., a Japanese multinational electronics and electrical equipment manufacturing company invested in Realtime Robotics Inc to develop motion-planning technologies. The company further plans to introduce new industrial robots integrated with Realtime Robotics’ motion-planning technologies in the upcoming future.
The Report Lists the Key Companies in the Market:
Further Report Findings:
The Market is Segmented into:
Value (USD Billion)
Type, Application, Industry, Region
By Robot Type