Asia-Pacific Industrial Robots Market Size

Asia-Pacific Industrial Robots Market Analysis

The Asia-Pacific Industrial Robots Market was valued at USD 29 billion in 2022. It is expected to register a CAGR of 12.3% over the forecast period. The applications of robotics are growing at a breathtaking speed. Industrial robotic arms could be used for a wide range of applications based on the multitude of sensors and vision systems capable of viewing images to aid with their computer-based control.

• Most of the industrial sectors are witnessing trends, i.e., the rising demand for high-quality products (which need proper end-to-end visibility in the manufacturing process), the need for energy conservation, and the rising focus on workplace safety. Incremental advancements in technology, coupled with the sustained increase in the development of manufacturing facilities, are also expected to drive this market.
• Trends, such as rising penetration of the IoT and investments in robotics across multiple regions, are expected to drive the demand for industrial robots in the market. Industry 4.0, the newest industrial revolution, fuelled the development of new technologies, like collaborative robots and AI-enabled robots, etc., that enabled industries to use robots to streamline many processes, increase efficiency, and eliminate errors. Increased workplace safety and improved production capabilities further drive industries to invest in robotic systems.
• Industrial robot adoption is evident across the automotive space and extends to the consumer goods market, owing to the demand for industrial robots and the business goals of the market players. According to a survey conducted by Veo Robotics Inc., 57% of global manufacturers believe that instead of replacing human workers, they should work alongside humans to supplement their work in their facilities. Such instances in the market are expected to promote the demand and applications of industrial robots.
• The recent COVID-19 outbreak further expanded the scope of these types of solutions. The market growth of Industrial robots was hampered due to the ongoing US and China trade war and Russia and Ukraine military war. Despite the global pandemic situation and other adversities, robot installations grew across the globe.
• This trend was dominated by positive market developments and the growing adoption of industrial robots in the electrical/electronics industry. For instance, as per IFR, the industrial robotics market in China achieved strong growth with a new record of 243,300 installations in 2021, a rise of 44% compared to the previous year.
• The growing demand and production of solar panels, electrical machinery, semiconductors, household appliances, computers, video and electronic entertainment goods, and telecommunication devices have also been pushing manufacturers to adopt industrial robots for effective and cost-effective productions at a larger scale. Various companies have been undertaking various initiatives in the market, intending to strengthen their presence in the market.