Robotics market to reach US$9.1 billion by 2010, says ARC Advisory Group

Citation

(2006), "Robotics market to reach US$9.1 billion by 2010, says ARC Advisory Group", Industrial Robot, Vol. 33 No. 5. https://doi.org/10.1108/ir.2006.04933eab.005

Robotics market to reach US$9.1 billion by 2010, says ARC Advisory Group

Robotics market to reach US$9.1 billion by 2010, says ARC Advisory Group

Keywords: Robotics, Markets

The market for industrial robotics is booming, says ARC Advisory Group. The analysts say the market for industrial robotics is being driven by investments in the automotive sector and strong growth among small and medium-sized businesses. As always, innovation dominates the robotics outlook. ARC Advisory predicts innovations such as humans and robotic counterparts working side by side, and Coordinated Cellular Robotics (CCR) enabling multiple robots to work cooperatively on a single piece without using a conveyor.

The worldwide market for industrial robotics is expected to grow at a compound annual growth rate (CAGR) of 7.7 percent over the next five years. The hardware market was US$3,590.5 million in 2005 and is forecasted to be over US$5,118 million in 2010, according to a new ARC Advisory Group study.

The industrial robotics market is expected to experience high growth in developing nations that will employ industrial robots in traditional applications such as welding and material handling. Also, expect new innovations which will have the potential to change the very nature of the industrial robot as it is now known.

“The market for Industrial Robotics will become even more exciting as new technologies and applications emerge. Expect factory floor workers to safely partner with their robotic counterparts to work side by side,” said Surpitski, an analyst at ARC and Principal Author of ARC’s study, Industrial Robotics Worldwide Outlook.

Software facilitates adoption

Both application and simulation software is advancing rapidly and is facilitating adoption of robotic systems in sectors that have either limited resources or a less skilled workforce. The age of digital manufacturing is reducing the skill level required to apply robotics such that programming and factory planning are accessible to a broader user base.

Technological innovation

The robotics market will continue to be driven by innovation. There is a growing need among end-users to speed the flow of product through the factory and consume a minimum of factory floor space. To address this problem, new robotic configurations are emerging which lend themselves to greater workflow efficiency. The technology, known as CCR consists of conveyorless cells which employ robots capable of working cooperatively and simultaneously on a single work piece.

Geographic redistribution

Expect developed countries that are traditionally thought of as large robotics consumers to grow the robotic installed base, but at a slower pace as the market becomes more saturated. In these regions, small and medium-sized manufacturers will utilize robotic solutions to more efficiently customize products in smaller production lots. In countries where low labor rates may have prevailed over technology in years past, adoption is expected to increase at a higher rate.

About the market research report

The ARC Advisory Group report, Industrial Robotics Worldwide Outlook (March 2006), includes a five year market analysis and technology forecast through 2010, plus strategies for success. Profiles for 20 of the major suppliers servicing this market are included.