What is the size of Industrial Robot Market?
According to 6Wresearch internal database and industry insights, the Industrial Robot Market is estimated at USD 18.2 billion in 2024, projected to surpass USD 40 billion by 2031, registering a CAGR of 10.3% between 2025-2031.
This growth is influenced by automation, the need for precision in manufacturing, and the advancement of Industry 4.0. The market is expected to capture approximately 25% of the global robotic market in 2024.
Growth Factors for Industrial Robot Industry
- Increased demand for automation across all manufacturing sectors to increase productivity.
- Increased adoption of robots in small and medium enterprises to help streamline operations.
- Technological advancements and the impact of AI and machine learning on developing smarter robotics.
- Increased deployment of robots to perform hazardous and repetitive tasks ensures better safety for workers.
- The growth of the automobile industry is increasing the demand for automation along assembly lines.
Industrial Robot Market Trends
There are emerging trends in the Industrial Robot Market that focus on improving productivity and precision. Some of the trends are the increasing use of collaborative robots (cobots) to work side by side with human operators in manufacturing environments. The influence of AI and machine learning algorithms is improving performance for robots. Also, the technology for mobile robotics to handle materials is changing other industries, such as logistics and e-commerce, where automation is increasing productivity in operations.
Emerging Developments in the Industrial Robot Market
The Industrial Robot Market is advancing with developments including the rise of collaborative robots, which can interact safely with humans in various production settings. Additionally, companies are focusing on the development of robots capable of performing a wider range of tasks with precision, including assembly, welding, and packaging. With the growing emphasis on automation, robotics companies are expanding their offerings for industries such as electronics and consumer goods, facilitating increased operational efficiency and lower production costs.
List of Leading Companies in the Industrial Robot Market
Some of the leading companies include:
- ABB Ltd.
- KUKA AG
- FANUC Corporation
- Universal Robots
- Yaskawa Electric Corporation
- Omron Corporation
- Staubli Robotics
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