Indian Ferro Alloys Faces Numerous Challenges in 2024
China Emerges To Be The Leading Country In Industrial Robotics Sector
By Shubhendra Anand , 10 June, 2024
The robotics industry is growing day by day due to innovations in the technological field in 2024. The industrial market is increasing due to advancements in the artificial intelligence sector. The technological field is growing with robot production and sales in 2024. According to the International Federation Of Robotics (IFR), Asia is an emerging region in industrial robotics nowadays.
Based on a survey, the industrial robotics market is expected to achieve a target of 8.5 million euros in sales worldwide in 2024. This implies the growing adoption of robots in the different sectors of the market. It is to be noted that two major robotics sectors in the market will be the automotive and electronics industries in 2024. According to data from recent surveys, the automotive industry in the robotics sector accounts for 24 percent of sales, while the electronics industry will experience 28 percent of sales in 2024. China is emerging as the leading country in the sales robotics market. China receives significant revenues globally in the robotics sales sector. Therefore, most robotics advancements will be reflected in China in the upcoming years.
Experts claim that industrial robotics will include nations like Japan, Germany, and others as strong competitors in 2024. The survey considers data from 2022 for the significant installation in the industrial robotics market. Around 400,000 units were installed, driven mainly by China's contribution to the industrial robotics market. However, European countries are followed by China in installing the robots globally. Major industries like the automotive and electronics industries benefit from robotics installation. Apart from these two countries, the plastic, chemical, and food and beverage sectors are incorporating robots to increase productivity. Hence, industrial robotics will consume a significant part of the economy, resulting in greater productivity in the upcoming years.
Growth In Industrial Robotic Market 2024
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Shubhendra Anand
Head Research
