The High Cost Of Industrial Robotics Solutions Is A Major Impediment To The Growth Of The Industrial Robotics Market

 

Industrial Robotics

During the forecast period, global industrial production output is expected to grow moderately. Industrial robotics is in high demand in industries such as automobiles and heavy engineering. However, the increased demand for automation in non-traditional areas, such as microelectronics, has boosted the demand for industrial robotics. As a result, an auxiliary channel utilising industrial robotics has emerged in recent years. The increased demand for industrial robotics can also be attributed to the heavy engineering sector. Several factors influence the global industrial robotics market, including the use of industrial robotics in the manufacturing industry, increased demand for automation activities in the industry, reduction in custom duties, and the evolving robotics and artificial intelligence (AI) industry. Furthermore, the high cost of industrial robotics solutions is a major impediment to the growth of the industrial robotics market.

 

The emergence of the COVID-19 pandemic, a lethal respiratory disease that originated in China, has now become a global concern. Because China has been the largest market (40–50 percent share) for industrial robots for at least the last five years, the COVID-19 pandemic has had a negative impact on the Industrial Robotics Market in 2019. The top players in the industrial robotics market are headquartered in Japan and saw a significant decline in revenue in 2019. For example, FANUC (Japan) announced in March 2020 that its ROBOT division revenue was down 6.9 percent in 2019 compared to 2018. The COVID-19 pandemic disrupted global supply chains and slowed the installation of industrial robots in a variety of key industries, including automotive, electrical and electronics, and metals and machinery. However, the situation in Q1 2021 is expected to improve over 2020 and return to normalcy by the end of 2022.

 

The Industrial Robotics Market report has highlighted the detailed analysis of the Robotics technology market network, as well as the various segments and sub-segments concerning regional areas. It has concentrated on market growth in multiple regions as well as analysis of the current industrial robotics market size and prospective global market. Furthermore, by analysing its supply chain and production, it has explained the factors influencing market growth. Furthermore, the report has provided a brief analysis of the key players' core competencies as well as a competitive analysis for the Industrial Robotics Market. The ongoing pandemic has had an impact on almost every industry, and this Market was one of them. The Industrial Robotics Market has also come to a standstill. Many customers were hesitant to invest money in this service for a variety of reasons. The COVID19 has resulted in material shortages, labour shortages, health and safety issues, and other related issues.

Comments

Post a Comment

Popular posts from this blog

Security Robot Market is Estimated To Witness High Growth Owing To Increasing Demand for Enhanced Surveillance

Image
Security Robot Market The Security Robot Market is estimated to be valued at US$ 11.8 billion in 2022 and is expected to exhibit a CAGR of 12.87% over the forecast period of 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: The Security Robot Market encompasses advanced robotic technologies that are specifically designed and developed to enhance security and surveillance operations. These robots are equipped with features such as video surveillance, thermal imaging, facial recognition, and intrusion detection, among others. They are extensively used by security agencies and organizations across various sectors, including residential, commercial, industrial, and government, to enhance safety, reduce human intervention, and streamline security operations. Security robots offer real-time monitoring, remote control, and high accuracy, making them an ideal choice for surveillance in sensitive areas and remote locations. Market Dynamics:
Read more

The Ever-Evolving Landscape of the Scottish Whisky Market during the Forecast Period 2019-2027

Image
  Scottish Whisky Market The Scottish Whisky Market is a captivating landscape that has been evolving and transforming over the years. It is a world of tradition, craftsmanship, and heritage, where every drop of whisky tells a story. The history of Scottish whisky traces back centuries, with the earliest records dating back to the 15th century. Whisky production initially started in monasteries, where monks distilled spirits for medicinal purposes. Over time, whisky production moved from monastic settings to farms and then to commercial distilleries. This transition marked the beginning of an industry that would become synonymous with Scotland. Scottish Whisky Market Was Valued At US$ 4.97 Bn In 2018, And It Is Expected To Reach US$ 7.89 Bn By The End Of 2027, Exhibiting A CAGR Of 5.3% During The Forecast Period (2019 To 2027). One of the defining characteristics of the Scottish Whisky Market is its adherence to traditional production methods. Scotch whisky is made from malted b
Read more

The Global Methyl & Ethyl Chloroacetate Market Is Expected To Register A Cagr Of 7.9% In Terms Of Revenue Over The Forecast Period (2019-2027)

Image
  Methyl chloroacetate is a colourless liquid with a pungent odour that is used as a dyestuff, medicine, and pesticide intermediate. Methyl chloroacetate has several advantages, including a precise pH value, excellent purity, precise composition, and a longer shelf life. Ethyl chloroacetate is a clear liquid with a strong, fruity odour that is used in the production of dyes, chemical compounds, and other products. Ethyl chloroacetate's benefits include a balanced composition, stable chemical and physical properties, and optimum purity.   The global methyl & ethyl chloroacetate market was valued at US$ 760.6 Mn in 2018, and is expected to register a CAGR of 7.9% in terms of revenue over the forecast period (2019-2027), to reach US$ 1,562.8 Mn by 2027.   Over the forecast period, the global Methyl & Ethyl Chloroacetate Market is expected to grow significantly. The various benefits offered by methyl and ethyl chloroacetate have led to an increase in their use in end-use indus
Read more