< Key Hightlight >

MARKET OUTLOOK

As per Triton’s research report, the industrial robots market in North America is predicted to display a compound annual growth rate of 9.07% in the years 2021-2028. The United States and Canada form the market in this region.

Canada has one of the best regulatory frameworks for robotics companies to test and develop new products. Moreover, the well-developed robotics-focused university and technical education add to the studied market’s robust growth. This further encouraged investors to invest significantly in the R&D of robotics, expanding their share in the market. 

Additionally, businesses across various industry verticals are investing in new technologies to capitalize on new processes that ensure automation. The government also identified robotics as a key sector for economic development. As a result, the government is allocating funds to the country’s space agency to support the construction of rover and robotic arm prototypes. This will fuel the growth of the industrial robotics market across Canada. 

In the United States, Universal Robots introduced autonomous motion control, collaborative robotics, vision, and sensor systems. The rising investments and the launch of new products have amplified the adoption of robots across multiple industries. Another example is the launch of UV robots by LG Business Solutions across the corporate, retail, restaurant, and transportation sectors. Hence, as mentioned above, all these factors are driving the growth of the industrial robots market within the United States. 

COMPETITIVE OUTLOOK

The key companies profiled in the industrial robots market include Yamaha Robotics, Universal Robots, Rockwell Automation Inc, Staubli International AG, Mitsubishi Electric Corporation, Seiko Epson Corporation, and Aurotek Corporation.