The global Industrial Robot market size is projected to reach USD 14840 Million by 2026, from USD 11720 Million in 2019, at a CAGR of 6.6% during 2021-2026. The major factors expected to increase the industrial robot market size are technological developments, labor shortages, and increased manufacturing requirements.
Trends Influencing the Industrial Robots Market
The rapid expansion of the automotive industry around the world, and the rising adoption of robotics in the non-automotive sector, including food & beverage, chemicals, rubber & plastics, and electronics / electrical, are boosting the growth of industrial robots market size.
Consumer's preference for shopping online is improving the e-commerce industry. Distribution centers, manufacturers, distributors, and facilities owners are now underlining the incorporation of automated robotic solutions. The integration of industrial robots to the e-commerce industry will help achieve on-time delivery, reduce labor costs, and increase efficiency and productivity. This increasing use of automated robots in the e-commerce industry is expected to drive the industrial robot market size.
Another factor driving the growth of industrial robots market size is the growing penetration of collaborative robots in various industries. Collaborative robots allow robots and humans to work effectively together in open or uncaged environments. Using collaborative robots makes it possible to involve a human operator and robot in the same process together.
The coordination of management, output, and control is crucial for the smooth running of the workflow in the industrial sector. The current transition from manual to automation is increasing demand for such industrial robots. The market for these robots is catching up due to the development of small and medium-sized businesses, growing technology investments in manufacturing, and imposing tight government restrictions on handling toxic materials and goods.
The various contributors involved in the value chain of the product include manufacturers, suppliers, distributors, intermediaries, and customers. The key manufacturers in this market include
Report Metric |
Details |
Report Name |
Industrial Robots Market |
The market size in 2019 |
USD 11720 Million |
The revenue forecast in 2026 |
USD 14840 Million |
Growth Rate |
CAGR of 6.6% from 2021 to 2026 |
Market size available for years |
2021-2026 |
Forecast units |
Value (USD) |
Segments covered |
Type, End-User, Offerings, and Region |
Report coverage |
Revenue & volume forecast, company share, competitive landscape, growth factors, and trends |
Geographic regions covered |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
Ans. The global Industrial Robot market size is projected to reach USD 14840 Million by 2026, from USD 11720 Million in 2019, at a CAGR of 6.6% during 2021-2026
Ans. The major factors expected to increase the industrial robot market size are technological developments, labor shortages, and increased manufacturing requirements.
Ans. North America is expected to hold the largest market share due to the emergence of industry 4.0.
Ans. The forecast period for the Industrial Robots Market is 2021 to 2026
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