Industrial Robotics Market- Global Opportunity Analysis and Industry Forecast (2022-2029)
Meticulous Research®—a leading global market research company, published a research report titled, ‘ Industrial Robotics Market by Component (Robots, Robot Accessories), Payload (Up to 60 kg, 60–100 kg, 100–225 kg, and Above 225 kg), Application, End-use Industry, and Geography - Global Forecast to 2029 .’ The global industrial robotics market is projected to reach $32.70 billion by 2029, at a CAGR of 6.2% from 2022 to 2029. By volume, this market is expected to grow at a CAGR of 11.2% from 2022 to 2029 to reach 950.1 thousand units by 2029. The growth of the industrial robotics market is attributed to the increasing adoption of robots in the manufacturing sector, government support and policies for the adoption of industrial robots, high labor cost in North America and Europe, and the increasing number of SMEs globally. Furthermore, rising automation across the automotive and electronics sectors and increased focus on reducing human labor in industries are ex...