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The $40+ Billion Industrial Robotics Market by 2024 - Industry 4.0, Along With Digitalization Initiatives Across Regions Presents Lucrative OpportunitiesDUBLIN, March 20, 2019 /PRNewswire/ -- The "Industrial Robotics Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering. The global industrial robotics market was valued at USD 18.05 billion in 2018 and is expected to reach USD 40.75 billion by 2024, at a CAGR of 14.11% over the forecast period (2019-2024). Industrial robots play a crucial role in industrial automation, with many core operations in industries being managed by robots. With economic growth across regions, the growth of e-commerce, electronics, and the automotive industry, among others has been on the rise. North America Region to Hold Significant Share According to the Association for Advancing Automation (A3), the North American automation market had set new records very recently. For the first nine months of 2017, 27,294 orders of robots, valued at approximately USD 1.473 billion, were sold in North America. Modern manufacturing facilities in North America are relying on new technologies and innovations to produce higher quality products at faster speeds with lower costs. In order to survive in the current competitive scenario, they are implementing more intelligent software and hardware. With over five heavy-duty assembly plants, over 540 OEM parts manufacturers, 400 dealerships, and many other automotive-related industries, Canada is the 9th largest vehicle producer in the world, and the automotive sector is the biggest contributor to the manufacturing industry of the country. According to the government of Canada, the country's automotive suppliers export parts globally and are integral to Canada's automotive sector, which accounts for over USD 34 billion in sales annually. The manufacturing industry is estimated to contribute approximately 11% to the Canadian GDP. The manufacturing sector is the largest investor in research and development (R&D) and implementation of new technologies in Canada. The government has also taken many initiatives, such as lowering taxes for new investments, various trade agreements with other countries, investments in new technologies, and many skill-training programs, which have helped the manufacturing sector to boom in Canada. Competitive Landscape The industrial robotics market is highly fragmented. Industry 4.0, along with digitalization initiatives across regions, provides lucrative opportunities in the industrial robots market. The degree of transparency is said to be high, considering the number of robotic trade shows across regions conducted from time to time. Overall, the competitive rivalry among existing competitors is high. Moving forward, acquisitions and collaboration of large companies with startups are expected, which are focused toward innovation. Some of the key players in the market are ABB and Yaskawa. Some of the key developments in the area are: ABB Ltd and Kawasaki Heavy Industries announced collaborative robot automation cooperation. Both the companies are projected to join forces, to share the knowledge and promote the benefits of collaborative robots, in particular, those with dual-arm designs. The companies also created the world's first common interface for collaborative robots. The common interface is poised to help address the shortage of skilled workers in several industries. Denso Corporation announced plans to exhibit Cobotta and other robots, at the Automatica fair in Munich, Germany. Cobotta is an innovative compact robot for a safe human-robot collaboration. The next highlight is a dual-arm control - a new feature of the RC8A controller is its capability to control two SCARA robots in different operations, at the same time. Topics Covered 1 Introduction 1.1 Study Deliverables 1.2 Study Assumptions 1.3 Scope of the Study 2 Research Methodology 3 Executive Summary 4 Market Dynamics 4.1 Market Overview 4.2 Introduction to Market Drivers and Restraints 4.3 Market Drivers 4.3.1 Increased Emphasis on Workplace Safety 4.3.2 Emerging Technologies in Industrial Robots 4.4 Market Restraints 4.4.1 Lack of Skilled Workforce 4.5 Value Chain Analysis 4.6 Industry Attractiveness Porter's Five Forces Analysis 5 Market Segmentation 5.1 By Product Type 5.1.1 Articulated Robots 5.1.2 Linear Robots 5.1.3 Cylindrical Robots 5.1.4 Parallel Robots 5.1.5 SCARA Robots 5.1.6 Other Product Types 5.2 By End-user Industry 5.2.1 Automotive 5.2.2 Chemical and Manufacturing 5.2.3 Construction 5.2.4 Electrical and Electronics 5.2.5 Food and Beverage 5.2.6 Machinery and Metal 5.2.7 Pharmaceutical 5.2.8 Other End-user Industries (Rubber, Optics) 5.3 Geography 5.3.1 North America 5.3.2 Europe 5.3.3 Asia-Pacific 5.3.4 South America 5.3.5 Middle East & Africa 6 Competitive Landscape 6.1 Company Profiles 6.1.1 ABB Ltd. 6.1.2 Yaskawa Electric Corporation 6.1.3 Denso Corporation 6.1.4 Fanuc Corporation 6.1.5 KUKA AG 6.1.6 Kawasaki Robotics 6.1.7 Toshiba Corporation 6.1.8 Panasonic Corporation 6.1.9 Staubli Mechatronics Company 6.1.10 Yamaha Robotics 6.1.11 Epson Robots 6.1.12 Comau SPA 6.1.13 Adept Technologies 6.1.14 Nachi Robotic Systems Inc. 7 Investment Analysis 8 Market Opportunities and Future Trends For more information about this report visit https://www.researchandmarkets.com/research/k458dp/the_40_billion?w=5 Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research. 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