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MARKET OUTLOOK

Triton Market Research’s report predicts that the industrial robots market in Latin America is set to surge at a compound annual growth rate of 9.21% during the assessed years from 2021 to 2028. Brazil, Mexico, and Rest of Latin America shape the overall market in the assessed region.

Over the past few years, the Argentine government encouraged investors by enacting legislation that benefits startups and technology businesses. This has led to a rise in the number of businesses employing AI, machine leading, and robots. Additionally, federal aid and regulations can help companies advance their product offering, in turn, meeting the rising demand for robots. Hence, these factors are widening the scope and growth of the industrial robots market across Argentina. 

On the other hand, Chile is concentrating on robotics and AI to enhance productivity across multiple industries. Earlier, Zippedi launched an AI-powered robot to streamline inventory management across the country. Furthermore, autonomous mobile robot supplier Geek+ introduced robots in Walmart outlets in the country. Along with this, several other international players are setting up business operations in the country, which will increase the adoption of robots. Therefore, the growing adoption of industrial robots across industries is projected to accelerate the industrial robots market’s development in Chile. 

COMPETITIVE OUTLOOK 

The renowned companies in the industrial robots market are Rethink Robotics, Kawasaki Heavy Industries Ltd, Omron Adept, ABB Ltd, Schunk GmbH, Fanuc Corporation, Universal Robots, and Mitsubishi Electric Corporation.