Industrial Robotics Market To Surge Usd 7.43b By 2027: Technavio

By Author: Ben Gross
Total Articles: 322
Comment this article

The industrial robotics services market is poised to grow by USD 7.43 billion from 2022 to 2027, with an anticipated CAGR of 6.9% during this period. Key segments include applications like material handling, welding, soldering, assembly lines, and others, catering to end-users such as healthcare, automotive, food and beverages, and more across regions like APAC, Europe, North America, South America, and the Middle East. The surge in demand for industrial robots, utilized in welding, painting, assembly, cutting, and grinding, is a primary growth driver. Customized robots are increasingly developed by suppliers to meet specific market needs, providing a competitive edge. Key players in this fragmented market include ABB Ltd., FANUC Corp., General Electric Co., and Yaskawa Electric Corp. The report also highlights the trend of technological innovations in industrial robotics services, driven by system integrators leveraging IoT and software platforms. However, challenges such as high initial investment costs and legal regulations in robot system integration are noted, with the material handling segment expected to experience significant market share growth.

More Information : https://www.techdogs.com/tech-news/pr-newswire/industrial-robotics-services-market-size-to-grow-by-usd-743-billion-from-2022-to-2027-surge-in-demand-for-industrial-robots-to-drive-the-growth-technavio