Key regions: France, Italy, United States, South Korea, United Kingdom
The Industrial Robotics market within the Robotics Market in G7 is facing subdued decline, with factors such as slower adoption of digital technologies in industries like automotive, chemical, electric/electronic, food, metal, and others playing a major role. Additionally, the market growth rate is impacted by challenges such as high initial costs and lack of skilled labor. However, increasing awareness about the benefits of industrial robots and advancements in technology are expected to drive market growth in the coming years.
Customer preferences: The G7 countries are experiencing a rising demand for advanced industrial robotics solutions, driven by the need for increased efficiency and cost reduction in manufacturing processes. Moreover, there is a growing preference for collaborative robots that can work alongside humans, as well as for flexible and customizable robotic systems. This trend is influenced by the changing demographics and evolving lifestyle preferences of consumers, who seek more personalized and adaptable solutions for their production needs. Additionally, the rise of smart factories and the adoption of Industry 4.0 principles are also shaping the demand for industrial robots, as manufacturers strive to improve their overall productivity and competitiveness.
Trends in the market: In the G7 countries, the Industrial robotics market is experiencing a surge in collaborative robots, also known as cobots. These robots are designed to work alongside humans and are equipped with advanced safety features. This trend is significant as it allows for increased flexibility and efficiency in manufacturing processes. Additionally, there is a growing demand for robots with AI and machine learning capabilities, as industries seek to improve automation and decision-making capabilities. This trend is expected to continue, with implications for industry stakeholders such as increased productivity and cost savings.
Local special circumstances: In Japan, the Industrial robotics market is thriving due to the country's well-established manufacturing industry and the government's initiatives to promote automation and technological advancements. The high demand for precision and efficiency in production processes has led to the adoption of industrial robots in various sectors. Additionally, the aging workforce and the need to reduce labor costs have also contributed to the growth of this market. In Germany, strict regulations and safety standards have resulted in the development of advanced industrial robots, making it a leader in the global market. The country's focus on sustainability and energy efficiency has also driven the demand for collaborative robots in various industries.
Underlying macroeconomic factors: The Industrial robotics market is also impacted by macroeconomic factors such as advancements in technology, government policies, and investments in manufacturing infrastructure. Countries with favorable regulatory environments and strong investments in industrial automation are experiencing faster market growth compared to regions with regulatory challenges and limited funding for manufacturing. Additionally, the increasing demand for precision and efficiency in manufacturing processes, coupled with the rising labor costs, is driving the adoption of industrial robotics solutions in various industries.
Data coverage:
The data encompasses B2B and B2C revenues. Figures are based on the country’s demand for robotics in manufacturer prices.Modeling approach / Market size:
Market sizes are determined through a regional bottom-up approach, and further detailed by a top-down rationale for each market segment. As a basis for evaluating markets, we use trade data of the respective economic sector. Furthermore, we use relevant key market indicators such as level of automation and digitization or the economy composition to estimate each country's specialization in demand and supply. This data helps us to estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques but primarly exponential smoothing. The selection of forecasting techniques is based on the behavior of the relevant market.Additional notes:
The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.
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