Industrial robot installations in leading regions worldwide 2017-2024

Around 384,000 units of industrial robots were shipped worldwide in 2020. Asia/Australia was the region with the highest number of units installed; an estimated 266,000 units fitted in 2020 alone. It is projected that by 2024, industrial robot installations in Asia/Australia will reach 370,000 units.

Digital transformation spurs increased use of industrial robots

The global market for industrial robots, which was at around 45 billion U.S. dollars in 2020, could reach up to some 102 billion U.S. dollars by 2027, as more businesses undergo a digital transformation of incorporating technological equipment into the production process. A market for industrial automation software has since developed and is expected to grow to just under 40 billion U.S. dollars by 2024.

A new type of robot: collaborative robots

This process of digitalization can also be seen in the blending of industrial and service robots’ functions into a new type of robot: collaborative robots. These co-bots, intended to work in close proximity with humans, are projected to become a large market, reaching the size of almost 1.5 billion U.S. dollars by 2026. Collaborative robots are used for actions such as handling material as well as assembling.