July 22, 2024

Rapid Adoption of Automation Driving Growth in the Robotics System Integration Market

 

 

The global Robotics System Integration Market is estimated to be valued at US$ 46 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
The robotics system integration market consists of robotics system integrators that offer integrated robotics solutions. They design, engineer and install robotic systems, equipments and software as per specific needs and requirements of end-use industries. Robotics system integrators help in automating repetitive and labor-intensive tasks across industries like automotive, electronics, food & beverages and healthcare among others. This helps companies improve productivity and efficiency while reducing production costs. The integrated robotics solutions also enhance safety, flexibility and scalability of operations in various industries.

Market key trends:
Collaborative robots or cobots are gaining popularity as they allow humans and robots to work side by side without safety barriers. Cobots use advanced sensing, vision and software to enable collaboration. Their use is growing rapidly in SMEs to perform simple pick and place operations. Furthermore, increasing focus on Industry 4.0 is also boosting the adoption of advanced robotics technologies like autonomous mobile robots. Industries are implementing digital integration of cyber-physical systems to create smart factories with improved interconnectivity, control and automation. This is expected to drive the demand for robotics system integration in coming years.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as the robotics system integration market requires significant investment and expertise to operate. However, new technologies can enable smaller players to enter the market.
Bargaining power of buyers: The bargaining power of buyers is high as there are many players providing robotics system integration solutions. Buyers can negotiate on price and demand additional services.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are many component manufacturers. However, quality components from familiar suppliers are important for robotics system integration projects.
Threat of new substitutes: The threat of substitutes is low as robotics has advantages over manual labor. However, artificial intelligence and automation continue to bring new opportunities.
Competitive rivalry: The competitive rivalry is high due to presence of numerous global and regional players providing customized solutions. Players competitive on price, product offerings, and services.

Key Takeaways
The global robotics system integration market is expected to witness high growth, exhibiting a CAGR of 10% over the forecast period, due to increasing labor cost and demand for automation across industries.

Regional analysis: North America dominated the market in 2023 with a share of over 35%, followed by Europe and Asia Pacific. Asia Pacific is expected to witness fastest growth through 2030 supported by rapid industrialization and adoption of advanced technologies in China, India and other emerging countries.

Key players operating in the robotics system integration market are Dynamic Automation solutions, Geku Automation, RobotWorx, Midwest Engineered Systems Inc., Van Hoecke Automation nv, FH Automation, Fitz-Thors Engineering, Inc., Mesh Engineering, TW Automation, Concept Systems Inc., Amtec Solutions Group, Inc. Key players provide customized solutions and focus on expanding their presence through partnerships and mergers & acquisitions to strengthen market share.