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Industrial Robotics Market worth $32.5 billion by 2028 – Exclusive Report by MarketsandMarkets™

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CHICAGO, July 27, 2023 /PRNewswire/ — The Industrial Robotics market is projected to grow from USD 17.0 billion in 2023 and is projected to reach USD 32.5 billion by 2028; it is expected to grow at a CAGR of 13.8% from 2023 to 2028 according to a new report by MarketsandMarkets™. Growing demand for automation in manufacturing and logistics is one of the major drivers of the market.


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Browse in-depth TOC on “Industrial Robotics Market” 
384 – Tables
93 – Figures
482 – Pages

Industrial Robotics Market Report Scope:

Report Coverage

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Details

Market Revenue in 2023

$17.0 billion

Estimated Value by 2028

$32.5 billion

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Growth Rate

Poised to grow at a CAGR of 13.8%

Market Size Available for

2019–2028

Forecast Period

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2023–2028

Forecast Units

Value (USD Million/Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

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Segments Covered

By Type, Component, Payload, Application, End Use Industry and Region

Geographies Covered

North America, Europe, Asia Pacific, and Rest of World

Key Market Challenge

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Worforce skills and interoperability

Key Market Opportunities

Increasing automation in electronics industry

Key Market Drivers

Growing adoption of Industry 4.0

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Collaborative robots’ segment is expected to grow at highest CAGR during the forecast period.

Continuous advancements in artificial intelligence, machine learning, and sensor tesschnologies are driving the ongoing development of collaborative robots. These advancements enable cobots to become more intelligent, adaptable, and skilled in handling complex tasks. As industries increasingly seek flexible automation solutions, cobots are set to revolutionize work environments, shaping the future of work and enhancing overall productivity and efficiency.

Upto 16.00 Kg segment in payload capacity is expected to have largest market share by 2028.

Robots with a payload-carrying capacity of up to 16.00 kg are mainly adopted in the automotive industry for arc welding and spot-welding applications, especially for 2-wheelers. In the electrical & electronics industry, these robots can be adopted for soldering and packaging electronic components. The increasing miniaturization of electronic components and chipsets has resulted in the large-scale adoption of robots with a payload-carrying capacity of up to 16.00 kg in the electrical & electronics industry. Such robots have also been widely adopted in the food & beverages industry in recent years for applications such as pick and place, sorting, and palletizing.

Processing segment is expected to grow at highest rate of CAGR during the forecast period.

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Processing applications considered in this section are grinding, milling, and cutting. Grinding robots are used to quickly and efficiently process parts of objects, such as vehicle bodies and wooden planks. These robots save time and costs while machining complex designs while improving the uniformity of each workpiece. A force/torque sensor is used in conjunction with the end effector to apply the right amount of pressure needed. Automated grinding also reduces health risks associated with the metal dust affecting workers in a manual process. In automotive applications, robotic grinders are used for machining axle beams and connecting rods.

Automotive segment is expected to hold for largest share during the forecast period.

Automotive manufacturers strive for consistency and repeatability since any untoward issue can stop the workflow in a vehicle assembly line. There are two main stages in vehicle production: manufacturing and assembly. In manufacturing, spot welding and painting robots are used extensively. Assembly includes a mix of light and heavy tasks, such as screw driving, windshield installation, wheel mounting, and labeling. Articulated robots are generally used for most tasks; however, parallel robots assemble smaller components, such as pumps and motors.

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Asia Pacific region to have largest share of Industrial Robotics market during the forecast period.

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Asia Pacific is considered one of the world’s major manufacturing hubs and is expected to provide ample growth opportunities to the industrial robotics industry. Low production costs, easy availability of labor, lenient emission and safety norms, and government initiatives for foreign direct investments (FDIs) are some of the major factors accelerating the market growth in APAC. The aging population in China and Japan has resulted in rising labor costs, leading to the growing adoption of automation. The increasing population is also attracting companies to invest in APAC.

Key players in the industrial robotics companies include ABB (Switzerland), FANUC CORPORATION (Japan), Yaskawa Electric Corporation (Japan), KUKA AG (Germany), and Mitsubishi Electric (Japan). Other companies that have a significant presence in the industrial robotics market are Kawasaki Heavy Industries (Japan), DENSO Corporation (Japan), Nachi-Fujikoshi (Japan), Durr (Germany), and SEIKO EPSON (Japan).

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Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting

Related Reports: 

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Smart Factory Market by Component (Industrial Sensors, Industrial Robots, Industrial 3D Printers, Machine Vision Systems), Solution (SCADA, MES, Industrial Safety, PAM), Industry (Process Industry, Discrete Industry) and Region – Global Forecast to 2027

Collaborative Robot Market by Payload (Up to 5 Kg, 5-10 kg, 10-20 kg, more than 20 kg), Component, Robotic Arm, End Effectors, Drives, Controllers, Sensors, Power Supply, Motors, Software), Application, Industry and Region – Global Forecast to 2029

Service Robotics Market by Environment (Aerial, Ground, Marine), Type (Professional, Personal & Domestic), Component, Application (Logistics, Inspection & Maintenance, Public Relations, Education) and Region – Global Forecast to 2028

Robot End Effector Market by Type (Grippers, Welding Guns, Tool Changer, Clamps, Suction Cups, Deburring, Soldering, Milling, & Painting Tools), Robot Type (Traditional, Collaborative), Application, Industry & Region – Forecast to 2028

Smart Manufacturing Market by Information Technology, Enabling Technology, Industry (Process and Discrete) and Geography (North America, Europe, Asia Pacific, Rest of World) (2021-2027)

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About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

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Mr. Aashish Mehra

MarketsandMarkets™ INC.
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Blockchain Press Releases

HTX Appoints Singapore National Goalkeeper Hassan Sunny as Chief Safeguarding Officer

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SINGAPORE, June 15, 2024 /PRNewswire/ — HTX, a leading cryptocurrency exchange, proudly announces the appointment of Singapore national football team goalkeeper Hassan Sunny as Chief Safeguarding Officer.

“The partnership between HTX, the ‘People’s Exchange’, and Hassan Sunny, the ‘People’s Goalkeeper’, is a perfect match,” said Justin Sun, Member of the HTX Global Advisory Board. “Together, we will work to ensure the safety and security of user assets in the ever-evolving crypto world. Just as Sunny fearlessly protects his goal on the field, HTX is committed to protecting every user’s assets with the same determination and resolve, providing the safest and most reliable investment environment possible.”

Sunny also expressed his excitement about joining the HTX family, stating “I am excited to be part of HTX. I can’t wait to embark on this journey with the team.”

Sunny has been called a national hero in China for his outstanding performance in the final group match of the first round of the 2026 FIFA World Cup Asian Qualifiers against Thailand on June 11th. Despite facing relentless attacks, Sunny made an incredible 11 saves, including a crucial one in stoppage time. Singapore ultimately lost the match 1-3, but their result helped China qualify for the next round at the expense of Thailand.

About HTX:

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Founded in 2013, HTX has evolved from a crypto exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, wallets, research, investment, incubation and other areas. HTX serves millions of users worldwide, with a business presence covering over 160 countries and regions across five continents. Its three development strategies – “global development, technology drives development, and technology for good” underpin its commitment to providing comprehensive services and values to global cryptocurrency enthusiasts.

 

View original content:https://www.prnewswire.co.uk/news-releases/htx-appoints-singapore-national-goalkeeper-hassan-sunny-as-chief-safeguarding-officer-302173558.html

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Blockchain

New seed-stage VC fund from Finland secures €6 million in initial close for €30 million blockchain fund

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Helsinki-based Equilibrium Ventures (EQV), a new seed-stage venture capital fund focused on the crypto sector, has successfully closed the first round of its €30 million fund, raising €6 million from limited partners (LPs). This milestone highlights growing interest in blockchain startups and a promising future for the European crypto ecosystem.

The fund is led by an experienced team of partners: Mika Honkasalo, Henrik Sundvik (formerly of Bain & Company), and Christopher Ahn (ex-Molten Ventures investor). Equilibrium Ventures aims to attract and support founders with deep technical expertise in blockchain technologies, covering areas such as zero-knowledge proofs and smart contracts, essential for developing advanced blockchain solutions.

Equilibrium Ventures has attracted a diverse group of backers, including strategic investors, family offices, and notable LPs like Sebastien Borget, co-founder of the metaverse platform The Sandbox. This support underscores the fund’s credibility and signals growing confidence in crypto investments despite recent market challenges.

Dedicated to crypto infrastructure, Equilibrium Ventures emphasizes rigorous technical due diligence and value addition for pre-seed and seed engineering firms. With a network of about 70 blockchain engineers, mainly based in Europe, the fund is well-positioned to help startups develop robust blockchain technologies.

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The renewed interest in venture capital investment in blockchain, bolstered by evolving regulatory landscapes in the US and Europe, is expected to increase investor confidence in the crypto sector. Equilibrium Ventures, with its technical expertise and strategic support, is poised to become a significant player in Europe’s crypto venture scene.

Looking ahead, Equilibrium Ventures aims for a second close by the end of this summer, targeting 80% of the total fund. This progress indicates strong momentum and the potential for significant contributions to the European blockchain ecosystem.

Source: arcticstartup.com

The post New seed-stage VC fund from Finland secures €6 million in initial close for €30 million blockchain fund appeared first on HIPTHER Alerts.

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Blockchain

Riot Platforms Acquires 14% Stake in Bitfarms Ltd.

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Riot Platforms, Inc. has announced its acquisition of a 14% stake in Bitfarms Ltd., as detailed in a recent press release by Riot Platforms. This move aligns with Riot’s strategy to influence corporate governance within Bitfarms.

Acquisition Details

On June 13, 2024, Riot Platforms purchased 1,432,063 common shares of Bitfarms Ltd., representing about 0.35% of Bitfarms’ issued and outstanding common shares. The shares were bought on the Nasdaq Stock Market and other open markets at an average price of approximately $2.70 per share, totaling $3,870,293.46.

Before this acquisition, Riot held 56,194,973 common shares of Bitfarms, equating to 13.65% ownership. With the new shares, Riot now holds 57,627,036 common shares, resulting in a 14% stake in Bitfarms.

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Strategic Intentions

Riot Platforms intends to call a special meeting of Bitfarms’ shareholders to nominate several independent directors to the board, citing concerns over Bitfarms’ corporate governance. Riot seeks to influence Bitfarms’ strategic direction and enhance its governance standards.

Riot is continuously reviewing its investment in Bitfarms and may adjust its position based on factors such as market conditions and the company’s financial status. Potential actions include increasing or decreasing its stake, entering into hedging transactions, or proposing additional strategic measures.

Forward-Looking Statements

The press release includes forward-looking statements subject to risks and uncertainties, reflecting Riot’s current expectations and assumptions. Riot cautions investors to consider these risks before making investment decisions.

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Riot’s vision is to become the leading Bitcoin-driven infrastructure platform, focusing on a vertically integrated strategy with Bitcoin mining operations in Texas and electrical switchgear engineering in Colorado.

Source: blockchain.news

The post Riot Platforms Acquires 14% Stake in Bitfarms Ltd. appeared first on HIPTHER Alerts.

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