Industrial Roboverse Industry Report 2024

This study explores industrial robotics' potential growth opportunities. The global workforce shortage and customers' growing interest in automation are significant drivers for the adoption of robots, which are being deployed across several industries, including retail, manufacturing, healthcare, food and beverage, and agriculture. A few countries have created road maps for robotic automation, and several government policies are also aiding adoption. The benefits of adopting robots include improved process efficiency, consistency, and quality.

This study outlines factors driving and restraining the growth of the global industrial roboverse and their anticipated impact throughout the forecast period (2024-2028). Trends such as artificial intelligence (AI), ease of programming, cloud computing, and advanced vision sensors will augment robots' operational and decision-making capabilities. Industrial robotics enables flexible manufacturing, contributing to the larger context of sustainability.

The Impact of the Top 3 Strategic Imperatives on the Industrial Roboverse

Disruptive Technologies

Why

• Digitalization of factories is gradually exerting an influence on the skills required, and the current workforce is not equipped to handle these emerging requirements.
• A significant percentage of the workforce in manufacturing is approaching retirement age, and as they retire, a vast amount of experience and knowledge will be lost.
• The growing emphasis on sustainability augments skills complexity and will require knowledge of green technologies and energy efficiency practices.

Analyst Perspective

• With interest in automation expected to increase during the next decade, collaboration and simplification will become key factors.
• As SMEs consider automation, a plug-and-play model that does not require prior programming knowledge will be preferred.
• The evolution of human-robot collaboration will see workers and robots working in tandem in fence-less working environments.

Transformative Megatrends

Why

• AI is providing the means to achieve efficiency and precision that was previously unattainable. Advancements in AI/ML will play a key role in the future of robotics.
• AI/ML helps robots in decision-making, improves object handling, heightens autonomous capabilities, and augments task efficiency.
• Integrating data from vision systems and other sensors will enhance robot navigation and perception.

Analyst Perspective

• The emergence of generative AI and natural language processing (NLP) is paving the way for improved human-robot interactions.
• Reinforcement learning will enhance robotic navigation, manipulation, and coordination. AI-processed sensor data will support reinforcement learning.
• With a massive push to develop humanoid robots in China, advancements in AI/ML and vision systems will greatly drive this industry.

Internal Challenges

Why

• Accounting for more than 50% of global robot sales in 2022 and 2023, China is creating a robotic revolution.
• Chinese companies are venturing into certain product markets previously catered to only by the top robotic participants.
• Furthermore, technology advancements such as AI are spurring a wave of new entrants, resulting in a crowded market.

Analyst Perspective

• Chinese companies will penetrate other regional markets and accelerate expansion during the short term as they bridge the gap in terms of quality.
• Consolidation is expected as large robot manufacturers acquire new entrants.
• Government policies in China will continue to drive investments in robotics. China is expected to become the robotics hub, and stakeholders will reconfigure their global supply chains.

Vendor Landscape

Associations

• Association for Advancing Automation
• VDMA
• Association for Unmanned Vehicle Systems International
• Japan Robotics Association
• Korea Association of Robot Industry
• International Federation of Robotics

System Integrators

• enVista
• JR Automation
• Invio Automation
• Jabil Inc.
• Optimation
• Bastian Solutions
• TW Automation
• RNA Automation Limited

OEMs

• ABB
• Fanuc
• Kuka
• Locus Robotics
• ANYbotics
• Kawasaki Heavy Industries
• Stäubli International
• Yaskawa
• Kinova Inc.
• Boston Dynamics
• Rethink Robotics
• Clearpath Robotics
• Universal Robots
• Relay Robotics
• Denso Robotics
• AUBO (Beijing) Robotics Technology Co.
• Doosan Robotics
• Omron
• AGILOX Services
• Comau

Component Manufacturers

• Zebra Technologies Corp.
• Sick AG
• Cognex Corporation
• Siemens
• Moxa Inc.
• Schunk SE
• Bosch Rexroth
• Basler

Software Developers

• Visual Coponents
• Vention
• OnRobot
• MiR
• Octopuz
• Vecna Robotics
• GreyOrange