Interact Analysis, a market intelligence company with expertise in the industrial automation sector, has published a new report on industrial robotics showing that the industrial robots sector is on track to deliver a recovery after a two-year downturn.
According to the intelligence company, in 2019 the industrial robotics sector saw shipments fall by 5.4%. The pandemic saw a further fall of 5.9% as 80,000 fewer units were shipped than previously forecast. Interact Analysis now says that pre-COVID estimates of growth up to 2024 have dissipated. The company’s research has concluded that new industry applications for robotics and more advanced technologies coupled with reducing prices will cause an acceleration in revenues in 2021, with an increase of 9.2% in revenue terms, and 9.6% in shipment terms, which should be followed by sustained growth up to 2024.
Articulated robots are predicted to be the slowest to recover to 2019 levels, given that the automotive industry has been strongly impacted by the pandemic. Sales of SCARA robots, used in light duty pick and place and assembly operations are predicted to recover. The collaborative robot market, which saw negative growth for the first time in 2020, is forecast to bounce back with a 15-20% year-on-year growth rate up to 2028.
During the process of compiling this report, the Interact Analysis team conducted over 30 hours of interviews with 30 industry personnel at robot companies and end-users. These were conducted face-to-face or by phone. Banks of data were collected and analyzed, some direct from companies and held confidentially, some, such as company reports, from public sources.
