According to the research report titled ‘Global Industrial Robotics Market (By Industry, Application, Region, and Company) and Forecast to 2026’, available with MarketStudyReport, global industrial robotics market is expected to be worth USD 25 billion by the end of forecast period 2020-2026.
 

As per the report findings, lack of skilled labor, increasing investments in innovation, solicitation of proposals by governments & public-private companies to lessen the impact of COVID-19 pandemic, and increasing automation across various sectors are the primary factors driving global industrial robotics market growth.
 

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For the uninitiated, industrial robots are automated robots used in manufacturing industries. These robots are programmable, mechanical devices which can replace human labor to perform repetitive or dangerous tasks with a high level of accuracy.
 

On the downside, high cost incurred in installation of industrial robots, especially in small and medium-sized companies, is expected to impede worldwide industrial robotics market development in the upcoming years.
 

Apart from elaborating on the growth drivers and restraints, the report also presents an in-depth analysis of the major trends and opportunities, while marking out the future roadmap of this industry. Moreover, it uses historical data from 2013-2019 to forecast the market growth trajectory through 2026.
 

Based on application scope, global industrial robotics market is categorized into material handling, assembling & disassembling, welding & soldering, cutting & milling, dispensing & painting, and others. By end-user spectrum, the industry classification comprises automotive, chemical, rubber, & plastics, electrical/electronics, food & beverages, metal, and others. A comprehensive analysis of each of these market segments reveals the market size, scope, and revenue predictions for 2021-2026.
 

On the regional front, the research literature deems Americas, Asia, Australia, Africa, and Europe to be the contributors to overall industry remuneration. These geographic segments and their individual market shares are highlighted in the report, along with a detailed study of the lucrative prospects available in emerging markets.
 

Elaborating on the competitive landscape, Denso Corp., Kawasaki Heavy Industries Ltd., ABB Ltd., KUKA AG, Nachi-Fujikoshi Corp., Fanuc Corp., Intuitive Surgical Inc., Mitsubishi Electric Corp., and Yaskawa Electric Corp. are the major companies steering global industrial robotics market outlook.