INDUSTRIAL ROBOTICS MARKET ANALYSIS

Market Concentration and Competitive Landscape

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Industrial robots were initially used mostly in automotive plants and electronics for tasks such as welding, assembly and packaging. However, their usage is expanding to newer application areas as technology advances make robots more collaborative, intelligent, and affordable. Some emerging sectors adopting robotics include logistics & warehousing for order fulfilment centers, e-commerce warehouses and distribution centers. Robots are aiding the materials handling, sorting, packaging, and delivery functions in these industries. Healthcare is another growing application area wherein robots assist in surgeries, rehabilitation, sample analysis and medical device production. Even food & beverage manufacturers are increasingly automating processes such as sorting, palletizing and packaging of products with robotics. Service robots for tasks like vacuum cleaning, lawn mowing and drone-based inspections are also gaining popularity in consumer applications. The diversifying demand across industries will be a major factor supporting the robotics market growth in the coming years.

For instance, in October 2022, ABB Robotic launched the smallest-ever industrial robot, IRB1010, catering to the demand in the smart device manufacturing industry. The robot is specifically designed for electronic gadgets manufacturing, including earphones, health trackers, smartwatches, and other devices.