Industrial robots are designed to perform repetitive tasks for extended periods with the primary aim of reducing labor costs. These robots are best suited for industries such as automotive, electronics, chemicals, pharmaceuticals, equipment manufacturing, and food and beverages, among others.
Industry Analysis
Automation is rapidly evolving and has revolutionized the industrial sector. Some of the major technological trends that positively impact the industrial robots market are explained below:
Integration of Automation
With the increasing demand for automation, industrial verticals are taking substantial steps towards building an infrastructure that favors the deployment of the surging demand. For instance, with the concept of autonomous cars materializing, it becomes vital for automobile manufacturers to build an efficient outcome that meets the set standards of efficiency and also cuts down operational costs. However, to gain a competitive edge, several companies have integrated automation by deploying industrial robots in their operational processes. For example, in 2017, Tesla Inc. acquired Perbix, a company that produces automated equipment for factories. This acquisition was completed with the aim of introducing automation in the company's factories. In 2018, the company built its Model 3 in a fully automated environment with the help of industrial robots.
Key Players
Some of the major players studied under the industrial robots market are ABB, YASKAWA, FANUC, KUKA, Mitsubishi Electric, Kawasaki Heavy Industries, DENSO, NACHI-FUJIKOSHI, EPSON, Durr, Universal Robots, Omron Adept, b+m Surface Systems, Stäubli, Comau, Yamaha, IGM, ST Robotics, Franka Emika, CMA Robotics, Delta Electronics, Rethink Robotics, Techman Robots, Precise Automation, and Siasun.
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