LONDON--(BUSINESS WIRE)--According to Technavio Research Report, “Industrial Robotics Services Market by application (material handling, welding and soldering, and assembly lines), by service type (engineering and consulting, installation and commissioning, robot programming, maintenance and repair, and training), and by region (the Americas, EMEA, and APAC) is witnessed to grow USD 7.96 billion, at a CAGR of 10% from 2018 to 2022.”
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Global industrial robotics services market: Surge in demand for industrial robots
The global industrial robotics market has been seeing strong demand for various industrial applications owing to the technological advancements and investments in R&D in robotics. Manufacturers are gradually automating their day-to-day manual processes by adopting industrial robots for attaining production and operational efficiency. Industrial robots helps in minimizing the margin of error and ensure greater employee safety.
According to a senior analyst at Technavio for research on robotics, “Securing sufficient production line capacity is becoming more difficult year by year, especially for small and medium-sized companies. In countries such as Japan, labor shortages will aggravate the issue. Thus, industrial players are expected to increase their investment in robots and automation to meet the growing demand.”
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Global industrial robotics services market: Collaboration between manufacturers and system integrators
The collaboration between system integrators and manufacturers is one of the major trends being witnessed in the global industrial robotics services market 2018-2022. To attain a competitive advantage over other players in the market, industrial robot manufacturers are constantly making efforts to improve their relationships with robot system integrators and distributors. Thus, it is important to provide integrators with tools such as certain software, along with information and support to help them serve customers in a better manner.
Few Major Players for the Industrial Robotics Services Market are:
- Midea Group (KUKA)
- The Lincoln Electric Company
- YASKAWA ELECTRIC
Global industrial robotics services market: Segmentation analysis
The global industrial robotics services market research report provides market segmentation by application (material handling, welding and soldering, and assembly lines), by service type (engineering and consulting, installation and commissioning, robot programming, maintenance and repair, and training), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The material handling segment held the largest market share in 2017, accounting for over 43% of the market. This application segment is expected to dominate the global market throughout the forecast period. APAC led the market in 2017 and this region is expected to dominate the market through 2022, with over 1% increase in its market share.
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