Industrial robotics will grow to $79.58 billion by 2022

A new report made available by MarketsandMarkets has estimated the amount of money the industrial robotics industry will make from now till 2022 is US$79.58 billion. That would mean a growth rate of 11.92 percent combined annual growth rate from this very second until we reach 2022. The report was titled Industrial Robotics Market by Time (Articulated, Cartesian, SCARA, Cylindrical, Parallel), Application (Automotive, Electric and Electronics, Metal and Machinery), Component (Controller, Sensors, Drive) and Geography- Analysis & Forecast 2022. So it is safe to say it covers the vast majority of industrial markets robots are currently applying to. No surprise then that the number of $79.58 billion is so high. 

The report just cements the fact that industrial automation and the Industrial Internet of Things that will work in tandem with the industry is the next step forward. The report claims that the market is being dominated by the Asia-Pacific areas ; China, Japan, South Korea and India. The demand for robots is incredibly high. Also we have seen recently that Chinese companies are buying out European robotics companies to utilize the technology currently being developed. Kuka Robotics’ purchase shows that the demand is high and billions will be forked out for the current technology. 

The report actually names Kuka, amongst other companies that are currently performing well in the industrial automation industry:

• ABB Ltd. (Switzerland)
• FANUC Corp (Japan)
• Kawasaki Heavy Industries Ltd. (Japan)
• Yaskawa Electric Corp (Japan) 

However, $79.58 billion is a very big number. It cannot seriously be true. But, then you remember, that there’s even a robot that cuts marshmallows. Honestly, all we need is a taffy-pulling robot and then we’ve put Willy Wonka out of business. Check below for the kind of robotics that ABB supplies the food industry. If you notice how many different tasks robots can currently be doing in our world already, perhaps the estimates of how much money the industrial robotics industry might make by 2022, isn’t that far off. 

Source: Engineering.com