According to a recent market research report, the industrial robot market is projected to reach $291 billion by 2035, a significant increase from the current market value of $55.1 billion. The report cites automation, advancements in artificial intelligence, and the rise of Industry 4.0 as key drivers of this growth. The automotive and electronics industries will capture major global market share, with East Asia identified as a particularly strong growth area, currently holding two-thirds of the market. The report also notes that growing global labor shortages and consumer demand for faster, more efficient product delivery are contributing factors.
