The global market for industrial controls and robotics market size is estimated to reach around US$187.81 bn by the end of 2026. The market is anticipated to register a healthy 9.87% CAGR between 2019 and 2016.
Industrial control and robotics tools serve to monitor and control various processes within the industries. Demand for these systems is expected to show continuous growth attributed to increased requirements of high product quality, precision, and reliability in large volume production. It is challenging to achieve low cost and high quality products without automation, which was previously done manually. Use of industrial controls and robotics tools serve the purpose of users for the effective and efficient management of various processes. Industrial automation tools help the manufacturers to monitor mass production processes with minimal chances of errors. Automotive industry is the largest end user of industrial controls and robotics. However, Semiconductor industry is expected to emerge as the fastest end user segment owing to the requirement of high degree precision with rapid production in industry.
Manufacturing industries are dependent on consistency and precision, needed to obtain quality at competitive production costs. Industrial automation using robotics is capable of providing repeatable and consistent results. Due to better efficiency and faster work rate the robots are capable of increasing productivity. Industrial control and robotics tools improve the quality of products. Thus, the quality control issue involved with human error can be minimized to a greater extent. Automation using control systems and robotics helps to decrease the cost of production as large number of products are generated in less time with high accuracy. Initially the cost per unit is high because of huge infrastructure cost, but as productivity increases, the variable cost of production reduces in the long run.
The report includes competitive analysis of the industrial controls and robotics market by product type, by application, by technology, and by geography. It includes segmentation across major geographies along with country-wise breakdown of the market. In addition, it provides current and forecast market size by revenue for its wide range of industrial applications for the period 2019 to 2026. Factors influencing and inhibiting the growth of the industrial controls and robotics market are analyzed. Porter’s five forces analysis offers insights on market competition.
Industrial robotics effectively protects workers from injuries and improves workplace safety. Dangerous tasks such as lifting of heavy pieces onto a table, welding, handling of hot or cold objects, can result in injuries and other health problems. A manufacturing robot does the same work without putting the labor force in harm’s way. Also the robots work around hazardous substances as well as endure an extreme work environment. By replacing workers from life threatening tasks and placing them in challenging programming and operating jobs, industrial robotics improves the quality of life as well as protects the company from costly claims of insurance. Also, industrial automation tools perform certain operations such as IC (integrated circuit) fabrication, rapid prototyping processes based on computer graphics etc. which require high degree of precision and miniaturization and cannot be achieved manually. Thus, high deployment of robotics is expected over the period of forecast. Industrial controls and robotics market has wide scope of development in emerging countries such as India and Brazil. Despite having large demographics, these countries lack in the manufacturing sector in terms of improving their productivity. They have to import machines, components and technology from other developed countries such as Japan, France and Germany. This creates an open market for robotics industries to increase their viability in countries like India and Brazil on a large scale.
This study includes profile of key players in the market and the strategies adopted by them to capture the market. Recent developments and barriers of the market will help emerging players to design their strategies in an effective manner. This study is expected to help suppliers, manufacturers, and distributors of the industrial automation industry in formulating and developing their strategies.
The global industrial controls and robotics market here refers to the market by type, by application by technology, and by geography is categorized into the following segments:
Industrial controls and robotics market analysis, by type
Industrial controls and robotics market analysis, by application
Industrial controls and robotics market analysis, by technology
Industrial controls and robotics market by Geography
The different geographies covered under this research study is defined as follows:
The in-depth research and high level analysis will allow industrial controls and robotics market vendors and research and development agencies to make informed decisions about the industrial automation market, formulate growth strategies and gain competitive advantage.