The global industrial robotics market : development trends and volume forecast

The purpose of the chapter is to focus on the global industrial robotics market and trends of its development. In the framework of this chapter, the authors made the forecast of industrial robots' market future values in this chapter with the linear regression method and an econometric model. This analysis has provided a conclusive answer to the question about the prospects of the industrial robotics market and the leading countries. The completed forecast showed that the global robotics market will continue to grow, thanks to the wider adoption of industrial robots, which will be used in new industries, the development of contactless user interfaces, which, among other things, will be implemented in the automotive applications, the focus on predictive maintenance and remote monitoring of equipment, as well as the transition of a large number of enterprises to digital management and full automation of existing equipment to improve the quality and productivity of processes. The authors show that in 2020 the global robotics market volume decreased due to the COVID-19 pandemic and major shift in production value chains, but in 2021 the indicator will grow again, but not so rapidly, at a more moderate pace. By 2025, the global industrial robotics market may exceed $61.4 billion, with a growth rate of 8.5%.