The industrial robotics services market size is expected to grow by $7.43 billion between 2022 and 2027, expanding at a CAGR of 6.9% during the forecast period.
The TechNavio research report, titled Global Industrial Robotics Services Market 2023-2027, segments the market by application (material handling, welding and soldering, assembly line, and others) in addition to end-user (healthcare and pharmaceuticals, automotive, food and beverages, and others). There is also a slice by geography, including APAC, Europe, North America, South America, the Middle East, and Africa.
The surge in demand for industrial robots is the key factor driving market growth. Industrial robots are used to enhance different applications such as welding, painting, assembly and disassembly, cutting, and grinding. In addition, many suppliers are developing customized robots to meet market needs and gain a competitive advantage. Therefore, the increase in demand for application-specific industrial robots will have a positive impact on manufacturers who can adopt customized services during the forecast period.
Other Key Highlights:
- The report recognizes the following as some of the key players in the industrial robotics services market: ABB Ltd., Carl Cloos Schweisstechnik GmbH, DAIHEN Corp., Denso Corp., Durr AG, FANUC Corp., General Electric Co., Hans Laser Technology Industry Group Co. Ltd., Jenoptik AG, Kawasaki Heavy Industries Ltd., MIDEA Group, Mitsubishi Electric Corp., NACHI FUJIKOSHI Corp., OMRON Corp, Panasonic Holdings Corp., Seiko Epson Corp., Staubli International AG, Teradyne Inc., Universal Robots AS, and Yaskawa Electric Corp
- Industrial Robotics Services Market is fragmented in nature.
- Market to observe 5.85% YOY growth in 2023.
- System integrators are taking the initiative to innovate their services by leveraging technological advances such as the Internet of Things (IoT) and software platforms.
- The programming platform is mainly used to improve the implementation and programming of industrial robots, and trends such as virtual implementation and offline programming will rise during the forecast period.
Among the challenges:
- The high costs of the initial investment in a desalination plant is a challenge that affects market growth.
- Robot system integration includes signing contracts and legal regulations, bidding, and evaluation before deploying and using robots.
- There are costs associated with the integration of robots, such as on-site training events, as trainers must be hired and travel and accommodation costs for training staff are also paid.
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