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Industrial Robotics Services Market by Application, Service, and Geography - Forecast and Analysis 2020-2024

  • Published: May 2021
  • Pages: 145
  • SKU: IRTNTR41082
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The industrial robotics services market share is expected to increase by USD 10.94 billion from 2019 to 2024, and the market’s growth momentum will accelerate at a CAGR of 9.54%.

This industrial robotics services market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers industrial robotics services market segmentations by Application (material handling, welding and soldering, Assembly line, and Others) and Geography (APAC, Europe, North America, South America, and MEA). The industrial robotics services market report also offers information on several market vendors, including ABB Ltd., DENSO Corp., FANUC Corp., Kawasaki Heavy Industries Ltd., Lincoln Electric Holdings Inc., Midea Group Co. Ltd., Mitsubishi Electric Corp., OMRON Corp., Panasonic Corp., and Yaskawa Electric Corp. among others.

What will the Industrial Robotics Services Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Industrial Robotics Services Market Size for the Forecast Period and Other Important Statistics

 

Industrial Robotics Services Market: Key Drivers, Trends, and Challenges

The surge in demand for industrial robots is notably driving the industrial robotics services market growth, although factors such as the high cost of services may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the industrial robotics services industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Industrial Robotics Services Market Driver

The surge in demand for industrial robots is notably driving the industrial robotics services market growth. With technological advancements and investments in R&D in robotics, the global industrial robotics market has been seeing strong demand for various industrial applications. Manufacturers are increasingly automating their day-to-day manual processes by incorporating industrial robots for attaining production and operational efficiency. They allow for minimal margins of error and also ensure greater employee safety. Securing sufficient production line capacity is becoming more difficult year by year for small and medium-sized companies. Labor shortages in countries such as Japan will exacerbate the issue. Thus, industrial players are expected to increase their investment in technologies such as robots and automation to meet the growing demand.

Key Industrial Robotics Services Market Trend

Technological innovations in industrial robotics services are the key trend driving the industrial robotics services market growth. System integrators are taking initiatives to innovate the delivery of services by capitalizing on technological improvements such as the Internet of Things (IoT) and software platforms. Software platforms are primarily being implemented for improving the commissioning and programming of industrial robots, with trends such as virtual commissioning and offline programming expected to gain traction during the forecast period. These include software solutions such as ABB's StampSynchro, StampWare, and StampMaster, which are used to improve the efficiency of press tending robots. YASKAWA ELECTRIC offers an Advanced PP Customization software development kit (SDK), KUKA (Midea Group) offers KUKA.HMI, and FANUC offers Controller R-30iB.

Key Industrial Robotics Services Market Challenge

The high cost of services is the major challenge impeding the market industrial robotics services market growth. Vendors need to work on devising methods to prevent any loss of time or money that is incurred by end-users in availing the services offered by them for the deployment of industrial robots. Robotic system integration involves contracts and legalities to be signed, competitive bidding, and evaluations before the robots can be implemented and used. To seamlessly integrate these systems in their operations, it is essential that operators and staff of customers participate in relevant training sessions. These on-site training sessions incur costs as trainers need to be hired, and the travel and accommodation expenses of the training faculty are also to be met. This increases the eventual total cost of ownership for the end-user.

This industrial robotics services market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.

Parent Market Analysis

Technavio categorizes the global industrial robotics services market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the industrial robotics services market during the forecast period.

Who are the Major Industrial Robotics Services Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • ABB Ltd.
  • DENSO Corp.
  • FANUC Corp.
  • Kawasaki Heavy Industries Ltd.
  • Lincoln Electric Holdings Inc.
  • Midea Group Co. Ltd.
  • Mitsubishi Electric Corp.
  • OMRON Corp.
  • Panasonic Corp.
  • Yaskawa Electric Corp.

 

This statistical study of the industrial robotics services market encompasses successful business strategies deployed by the key vendors. The industrial robotics services market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • ABB Ltd. - The company offers industrial robotics services such as IRB 1100, CRB 1100 SWIFTI, IRB 6660RX, and others.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The industrial robotics services market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Industrial Robotics Services Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the industrial robotics services market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Industrial Robotics Services Market?

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57% of the market’s growth will originate from APAC during the forecast period. China is the key market for industrial robotics services market in APAC.

The region serves as an important base for the operations of leading foreign manufacturers and system integrators which will facilitate the industrial robotics services market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Application Segments in the Industrial Robotics Services Market?

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The industrial robotics services market share growth by the material handling segment will be significant during the forecast period. The industrial robotics services market by material handling is gaining traction due to demand among industrial users for applications such as machine tending, metal tending, packaging, loading/unloading, palletizing, picking, and injection molding. The highest demand arises from the automotive sector as it involves the transfer of bulk payloads that cannot be effectively moved by manual labor.

This report provides an accurate prediction of the contribution of all the segments to the growth of the industrial robotics services market size and actionable market insights on post COVID-19 impact on each segment.

 

Industrial Robotics Services Market Scope

Report Coverage

Details

Page number

120

Base year

2019

Forecast period

2020-2024

Growth momentum & CAGR

Accelerate at a CAGR of 9.54%

Market growth 2020-2024

$ 10.94 billion

Market structure

Fragmented

YoY growth (%)

8.76

Regional analysis

APAC, Europe, North America, South America, and MEA

Performing market contribution

APAC at 57%

Key consumer countries

China, US, Japan, Germany, and South Korea (Republic of Korea)

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

ABB Ltd., DENSO Corp., FANUC Corp., Kawasaki Heavy Industries Ltd., Lincoln Electric Holdings Inc., Midea Group Co. Ltd., Mitsubishi Electric Corp., OMRON Corp., Panasonic Corp., and Yaskawa Electric Corp.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Industrial Robotics Services Market Report?

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive industrial robotics services market growth during the next five years
  • Precise estimation of the industrial robotics services market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the industrial robotics services industry across APAC, Europe, North America, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of industrial robotics services market vendors

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Read More Read Less

1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value Chain analysis: Industrial machinery

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five Forces Analysis
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by Application

    • 5.1 Market segments
      • Exhibit 15: Application - Market share 2020-2025 (%)
    • 5.2 Comparison by Application
      • Exhibit 16: Comparison by Application
    • 5.3 Material handling - Market size and forecast 2020-2025
      • Exhibit 17: Material handling - Market size and forecast 2020-2025 ($ million)
      • Exhibit 18: Material handling - Year-over-year growth 2020-2025 (%)
    • 5.4 Welding and soldering - Market size and forecast 2020-2025
      • Exhibit 19: Welding and soldering - Market size and forecast 2020-2025 ($ million)
      • Exhibit 20: Welding and soldering - Year-over-year growth 2020-2025 (%)
    • 5.5 Assembly line - Market size and forecast 2020-2025
      • Exhibit 21: Assembly line - Market size and forecast 2020-2025 ($ million)
      • Exhibit 22: Assembly line - Year-over-year growth 2020-2025 (%)
    • 5.6 Others - Market size and forecast 2020-2025
      • Exhibit 23: Others - Market size and forecast 2020-2025 ($ million)
      • Exhibit 24: Others - Year-over-year growth 2020-2025 (%)
    • 5.7 Market opportunity by Application
      • Exhibit 25: Market opportunity by Application

    6 Market Segmentation by Service

    • 6.1 Engineering and consulting
      • 6.2 Installation and commissioning
        • 6.3 Robot programming
          • 6.4 Maintenance and repair
            • 6.5 Training

              7 Customer landscape

              • 7.1 Customer Landscape

                8 Geographic Landscape

                • 8.1 Geographic segmentation
                  • 8.2 Geographic comparison
                    • 8.3 APAC - Market size and forecast 2020-2025
                      • 8.4 Europe - Market size and forecast 2020-2025
                        • 8.5 North America - Market size and forecast 2020-2025
                          • 8.6 South America - Market size and forecast 2020-2025
                            • 8.7 MEA - Market size and forecast 2020-2025
                              • 8.8 Key leading countries
                                • 8.9 Market opportunity by geography

                                  9 Drivers, Challenges, and Trends

                                  • 9.1 Market drivers
                                    • 9.2 Market challenges
                                      • 9.3 Market trends

                                        10 Vendor Landscape

                                        • 10.1 Vendor Landscape
                                          • 10.2 Competitive scenario
                                            • 10.3 Landscape disruption

                                              11 Vendor Analysis

                                              • 11.1 Vendors covered
                                                • 11.2 Market positioning of vendors
                                                  • 11.3 ABB Ltd.
                                                    • 11.4 DENSO Corp.
                                                      • 11.5 FANUC Corp.
                                                        • 11.6 Kawasaki Heavy Industries Ltd.
                                                          • 11.7 Midea Group Co. Ltd.
                                                            • 11.8 Mitsubishi Electric Corp.
                                                              • 11.9 OMRON Corp.
                                                                • 11.10 Panasonic Corp.
                                                                  • 11.11 The Lincoln Electric Co.
                                                                    • 11.12 Yaskawa Electric Corp.

                                                                      12 Appendix

                                                                      • 12.1 Scope of the report
                                                                        • 12.2 Currency conversion rates for US$
                                                                          • 12.3 Research methodology
                                                                            • 12.4 List of abbreviations

                                                                              Research Framework

                                                                              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                                                                              TechnavioINFORMATION SOURCES

                                                                              Primary sources

                                                                              • Manufacturers and suppliers
                                                                              • Channel partners
                                                                              • Industry experts
                                                                              • Strategic decision makers

                                                                              Secondary sources

                                                                              • Industry journals and periodicals
                                                                              • Government data
                                                                              • Financial reports of key industry players
                                                                              • Historical data
                                                                              • Press releases
                                                                              Technavio

                                                                              TechnavioDATA ANALYSIS

                                                                              Data Synthesis

                                                                              • Collation of data
                                                                              • Estimation of key figures
                                                                              • Analysis of derived insights

                                                                              Data Validation

                                                                              • Triangulation with data models
                                                                              • Reference against proprietary databases
                                                                              • Corroboration with industry experts
                                                                              Technavio

                                                                              TechnavioREPORT WRITING

                                                                              Qualitative

                                                                              • Market drivers
                                                                              • Market challenges
                                                                              • Market trends
                                                                              • Five forces analysis

                                                                              Quantitative

                                                                              • Market size and forecast
                                                                              • Market segmentation
                                                                              • Geographical insights
                                                                              • Competitive landscape
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                                                                              The industrial robotics services market market growth will increase by $$ 10.94 bn during 2021-2024.
                                                                              The industrial robotics services market market is expected to grow at a CAGR of 9.54% during 2021-2024.
                                                                              Technavio has segmented the industrial robotics services market market by application (material handling, welding and soldering, Assembly line, and Others) and geography (APAC, Europe, North America, South America, and MEA).
                                                                              ABB Ltd., DENSO Corp., FANUC Corp., Kawasaki Heavy Industries Ltd., Lincoln Electric Holdings Inc., Midea Group Co. Ltd., Mitsubishi Electric Corp., OMRON Corp., Panasonic Corp., Yaskawa Electric Corp. are a few of the key vendors in the industrial robotics services market market.
                                                                              APAC will register the highest growth rate of 57% among the other regions. Therefore, the industrial robotics services market market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
                                                                              • China
                                                                              • US
                                                                              • Japan
                                                                              • Germany
                                                                              • South Korea (Republic of Korea)
                                                                              The key factors driving the industrial robotics services market market growth are:
                                                                              • Surge in demand for industrial robots
                                                                              • Technological innovations in industrial robotics services
                                                                              The industrial robotics services market market vendors should focus on grabbing business opportunities from the material handling segment as it accounted for the largest market share in the base year.
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