Growth in Technological Advancements Expected to Drive Global Electrical & Electronic Robotics Market: Ken Research

Posted February 23, 2021 by Anita1111

The hardware market will grow at 13.92% annually over the forecast years. The annual shipment is expected to exhibit a CAGR of 18.05% during the same period, advancing to 518.7 thousand units in 2026.
Robotics is the field of mechanical engineering that deal with the design & use of robots and the application of computer for their control & processing. Robots are used in electronics industries to speed up the manufacturing process. They are also used in the field of sea-exploration, designing of bio-medical equipments, nuclear science, servicing of transmission electric signals, etc. The electrical & electronic robotics are mainly used in electronic parts insert or transfer, assembly, screw tightening, and inspection process as the robots are appropriate for simple and harsh working environment. These robots enable to help labor shortage and rising productivity & quality preservation.
Referring to study, “Global Electrical & Electronic Robotics Market by Subsystem, Robot Type, Application, End-user, and Region 2015-2026: Trend Forecast and Growth Opportunity”. some of the key companies operating in the global electrical & electronic robotics market are Universal Robots, Reis Robotics, Yaskawa Electric Corp., Rockwell Automation Inc., Fanuc Corp., Comau S.p.A., Denso Corporation, Mitsubishi Electric Corp., KUKA (Midea Group), Staubli International AG, Omron Corporation (Omron Adept Technologies), ABB Ltd., Seiko Epson Corporation (Epson Robotics). Key manufacturers are trying to reduce the operational price of processes that can be opted by reducing the errors in operational workflow and also reducing material wastage.
By robot type, electrical & electronic robotics market is segregated as Cartesian robots, cylindrical robots, articulated robots, polar or spherical robots, SCARA robots, and others. Articulated robots segment holds major share in global market owing to high multi-purpose applications such as welding, painting, assembling, palletizing, and others. By subsystem, market is segregated as software, hardware and services & support. By application, market is segregated as painting & dispensing, soldering & welding, assembling & disassembling, material handling, cutting and others. Material handling segment is expected to exhibit higher growth rate due to rise in demand from end-use industries during the forecast period. In addition, by end-user, market is segregated as electrical & electronics equipment, electronics components, telecommunication devices and others.
The electrical & electronic robotics market is driven by growth in technological advancements, followed by shortage of labor and growth in manufacturing requirements. However, high cost of electrical & electronics robots and safety hazards associated with the usage of these robots are major hindering factors for market. Furthermore, growth in automation in electrical & electronic industry is a key opportunity for market.
Based on geography, the Asian-Pacific region holds major share in global electrical & electronic robotics market owing to increase in population, rise in disposable income, growth in automation and manufacturing industry in the region. The North-American and European regions are estimated to exhibit substantial growth rate due to emergence of smart factories and up-gradation of manufacturing operations over the forecast period. It is predicted that future of the global market will be optimistic as a result of presence of government initiatives promoting the adoption of these systems during the forecast period. It is also predicted that global electrical & electronic robotics market will be reached at US $45.79 billion by 2026, representing a 2019-2026 CAGR of 13.55%.

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Contact Email [email protected]
Issued By Ken Research
Country India
Categories Technology , Telecom
Tags Global Electrical and Electronic Robotics Market , Global Electrical and Electronic Robotics Market Revenue , Global Electrical and Electronic Robotics Market Forecast
Last Updated February 23, 2021