Industrial Robotics Market and Investment Breakdown, Insights, Scope, Forecast by 2024.

Increasing focus on automation in industries, growing demand for industrial robots from small and medium enterprises (SMEs), and enhanced operational efficiency offered by industrial robots are the key factors driving the growth of the industrial robotics market globally.

An industrial robot is an automatically controlled, reprogrammable, multipurpose manipulator programmable in three or more axes, which may be either mobile or fixed, used for industrial automation applications. Industrial robots are designed to move materials and perform varied programmed tasks in the manufacturing industry.

The industrial robotics market has been classified into small-medium payloads, large payloads, and extra-large payloads based on payload. Of these, small-medium payload robots are used in assembling watches or cameras, while large payload robots are used in the automotive, transportation, and other heavy industries for material handling.

Asia-Pacific (APAC) held the largest share in the industrial robotics market based on geography and is expected to continue to hold the largest share during the forecast period. This can be attributed to the increasing adoption of industrial robots by small and medium-scale manufacturers in the region.

One of the key opportunities in the industrial robotics market is the use of artificial intelligence (AI) to improve productivity and accuracy through predictive maintenance. Applying AI to industrial robots creates opportunities for manufacturers to maximize productivity and efficiency.

ABB Ltd., FANUC Corporation, Yaskawa Electric Corporation, Kawasaki Heavy Industries Ltd., Mitsubishi Electric Corporation, Panasonic Welding Systems Co. Ltd., Toshiba Machine Co. Ltd., and OMRON Corporation are some of the other key players operating in the industrial robotics market.

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