The Industrial robots offer abundant benefits, involving cost assumption, augmented rate of operation, size lessening, and developing quality, along with boosted manufacturing efficiency and plasticity. The effective augment in the responsiveness regarding the benefits they offer is anticipated to affect the market absolutely.
According to the report analysis, ‘Europe Industrial Robotics Market by Subsystem, Robot Type, Function, Component, Configuration, Payload, Industry Vertical, and Country 2015-2026: Growth Opportunity and Business Strategy’ states that the revenue of Europe industrial robotics market reached USD 9.9 billion in terms of the robot systems (involving robot machines, software, peripherals & system Engineering) by 2018, representing the second principal regional market around the world. The annual shipment in this region is predicted to be 70.95 thousand units during 2018.The Europe industrial production output is projected to observe the moderate growth throughout the forecast period. The requirement for industrial robotics is majorly witnessed in industries such as automobiles and heavy engineering. However, augmented the requirement for automation in non-conventional areas, such as microelectronics, has augmented the requirement of industrial robotics. Hence, an auxiliary channel using the industrial robotics has surfaced during the present years. The heavy engineering segment is also responsible for the augmented requirement of the industrial robotics.
Nonetheless, the Europe industrial robotics market is impacted by numerous factors such as utilization of the industrial robotics in the manufacturing industry, augmented the demand for automation activities in the industry, deduction in custom duties, and sprouting robotics & artificial intelligence (AI) industry. Furthermore, the great cost of industrial robotics solutions is a foremost hindrance for the industrial robotics market growth.
Not only has this, the dearth of skilled workforce and great labor costs drive the implementation of the industrial robotics in most of the industries in developed and underdeveloped nations. Numerous organizations have accepted the industrial robotics solutions to decrease their labor costs and enhance the efficiency. Although the initial cost of acquiring a robot is high, once accepted it offers great productivity, proficiency, and profits. In addition, the labor wages are on the augment in the American and European markets, and Asia-Pacific is also predicted to observe an upsurge in labor costs throughout the forecast period. The Human limitations to function a particular task and greater productivity from service robots favor the implementation of the robotics.
Although, great investment demanded for the initial setup and integration of industrial robotic solutions limits the implementation of robots by small and medium enterprises in diverse segments. For instance, in the machinery & metal sector, the cost of cutting, welding, and soldering machines is suggestively high, building it unaffordable for average corporate. Industries facing great labor costs are more probable to deploy industrial robots to decrease their expenses and introduce the high-quality products. Fresh players around the Europe industrial robotics market need to aim on offering affordable and cost-effective robots to quicken the acceptance of robots by niche industries. The development of new technologies, coupled with augmenting the competition in the market, is projected to decrease the investment costs of robots and quicken the growth of the industrial robotics market. Therefore, in the near years, it is predicted that the market of industrial robotics will increase around Europe more proficiently over the inflowing years.
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Ankur Gupta, Head Marketing & Communications