Industrial Robots Market Size, Company Revenue Share, Key Drivers, and Trend Analysis, 2033

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Industrial Robots Market Size, Company Revenue Share, Key Drivers, and Trend Analysis, 2033

The global industrial robots market is on an extraordinary growth trajectory, projected to surpass a valuation of US$ 25,828.99 million by 2033. The realm of industrial automation is set to experience a remarkable Compound Annual Growth Rate (CAGR) of 17.20%, starting from a 2023 valuation of US$ 5,282.40 million.

A key driver behind this exceptional growth is the innovative concept of Robot-as-a-Service (RaaS), reshaping the landscape of factory automation technology. RaaS introduces a flexible and cost-effective approach for enterprises to seamlessly integrate robotics into their operations. Businesses now have the option to subscribe to robot services, eliminating the need for substantial upfront investments in robotic equipment. This groundbreaking approach not only conserves capital expenditures but also enhances financial adaptability, empowering companies to respond swiftly and efficiently to market fluctuations.

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Key Takeaways from the Market Study:

By end use, electric and electrical industry is expected to procure 40% market share for industrial robots.
China is expected to account for 45% of the total Industrial Robots in 2022
U.S. is expected to hold 40% market share for industrial robots in 2022
France is expected to possess 30% market share for industrial robots

“Industrial robots have the potential to change the functioning of end user industries. Multitasking, precision and accuracy are making industrial robots a popular option across industries. This, in turn, is gaining traction for the same.” states an FMI analyst

Market Competition:

Key players in the industrial robot market are Denso Corporation, Kawasaki Heavy Industries, Brenton, LLC, Krones AG, Mitsubishi Electric Corporation, YASKAWA Electric Corporation, KUKA AG, Fanuc Corporation and ABB Limited.

Denso Corporation, a key player in the industrial robots market is focusing on studying the infrastructure and requirements of end user industries and designing industrial robots for the same.
Mitsubishi Electric Corporation, is focusing on research for designing industrial robots. The company is developing industrial robots that can carry out complex tasks easily.

About the Industrial Automation Domain at Future Market Insights:

The industrial automation domain team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.

Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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Key Segments Profiled in the Industrial Robots Industry Survey:

Industrial Robots by Product Type: