As the demand for industrial robots rises rapidly, so too is market revenue. ABI research recently released a study, projecting industrial robot profits to nearly triple by 2025.
In more numerical detail, ABI forecasts revenues to surmount USD$30 billion in 2020, then about $45 billion in 2025. A 16 percent year-over-year growth rate is expected in industrial robot shipments by 2021.
Much of this demand is coming from the Asia-Pacific region, which currently counts for about 65 percent of the global market. China is a major driving factor in this rising demand, currently taking in about one-third of all automated robot shipments.
ABB accounts for almost one-half of all industrial robot shipments, worldwide.
Other major shipment contributors include: Epson Robots, Fanuc Corporation, Kawasaki Precision Machinery Company, Kuka Robotics Corporation, Nachi Fujikoshi Corporation, Stäubli International AG, Yaskawa Electric Corporation and Yamaha Robotics.
The automotive industry stands as the predominant sector for the industrial robotics market, despite growing demand from the rubber, plastics, electrical, and electronic industries are turning to robotic systems.
The food, pharmaceutical and cosmetics industries are predicted to demonstrate the fastest growth over the next decade.
"Other demand contributors include the introduction of robotics automations into industries that did not previously benefit from robotic industrial automation or new classes of applications,” said ABI research director, Philip Solis.
“Governmental and political manufacturing initiatives, such as entrepreneurship and investment programs, as well as public-private partnerships and reshoring efforts, also provide momentum for the sector."
What do you foresee in the industrial robot industry’s future?
For more information and to read the report for yourself, visit the ABI Research website.