Increasing Adoption of Industrial Robots
The Industrial Robotics Market is expected to reach $32.7 billion by 2029, at a CAGR of 6.2% from 2022 to 2029.
The last decade has witnessed a remarkable surge in the adoption of industrial robots, driven by their numerous advantages, including heightened productivity, consistent speed and quality, enhanced workplace safety, and optimized floor space usage. According to the International Federation of Robotics (IFR) in their World Robotics 2021 Industrial Robots report, a record 3 million industrial robots were operational in factories globally, marking a 10% increase from 2020. Despite the challenges posed by the global pandemic, the sale of new robots grew modestly by 0.5%, with 384,000 units shipped worldwide in 2020.
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Rebound in Robot Installations
The IFR projects a strong rebound in global robot installations, estimating a growth of 27% in 2022, surpassing the record levels of 2021. In 2022, a new high of 486,800 units was installed globally, reflecting a 27% increase compared to the previous year. The Asia/Australia region experienced the most significant growth, with installations rising by 33% to reach 354,500 units. Meanwhile, the Americas saw a 27% increase, with 49,400 units sold, and Europe experienced double-digit growth of 15%, resulting in 78,000 units installed.
Robotics: A Global Perspective
Robotics and control systems form the backbone of automation, with the International Monetary Fund (IMF) reporting that 1 million robots were utilized in Asia in 2018, establishing it as the global leader in robotics. Countries like Singapore, South Korea, Japan, Germany, Sweden, Denmark, Hong Kong, the U.S., Belgium, and Luxembourg are at the forefront of robotics and automation. According to the IFR, Singapore boasted the highest robot density in 2019, with 918 units per 10,000 employees in the electronics sector. South Korea and Japan followed closely, with densities of 868 and 365 units per 10,000 employees, respectively.
Versatility and Efficiency of Industrial Robots
Japan dominates the global robot manufacturing landscape, producing 45% of the world's supply. Various industries, including healthcare, agriculture, food and beverage, manufacturing, and processing, utilize robots for essential and time-consuming tasks. In healthcare, the adoption of advanced surgical robotics is on the rise, offering benefits such as shorter hospital stays and reduced pain post-surgery. The automotive sector relies on industrial robots for various assembly line tasks, including welding, painting, assembly, pick-and-place operations, packaging, and product inspection.
Industrial robots excel at performing precise tasks around the clock, minimizing human errors and fatigue through advanced learning models. Their ability to perform multiple tasks consistently and efficiently makes them increasingly sought after in both process and discrete industries. Moreover, industrial robots require less floor space compared to human workers, allowing businesses to repurpose that space for additional production processes.
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Conclusion
As technology continues to advance, robots are becoming more energy-efficient and easier to implement across diverse industries. Mobile robots equipped with sophisticated navigation systems are facilitating interaction with other robots and systems. Additionally, robots are expanding into new markets, including textiles, wood products, and plastics. Consequently, the growing adoption of robots within the manufacturing sector is significantly propelling the growth of the industrial robotics market.
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