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The global industrial robotics services market is set to expand by USD 7.46 billion from 2024 to 2028, with a projected CAGR of 6.59%. This growth is primarily driven by the increasing demand for industrial robots and ongoing technological innovations in the sector. However, the high cost of services presents a significant challenge to market expansion.
Key players in the market are leveraging advanced technologies like the Internet of Things (IoT) to enhance their offerings. Innovations such as ABB's software solutions and Yaskawa Electric's customization tools are pivotal in improving productivity and efficiency. Despite initial capital expenditures being a barrier, the long-term benefits of automation are expected to outweigh these costs.
• Industrial robotics market projected to grow by USD 7.46 billion by 2028.
• Technological innovations are driving demand for industrial robots across sectors.
IoT technologies are being utilized to enhance the commissioning and programming processes in industrial robotics.
Cobots are increasingly adopted in sectors like agriculture and construction for tasks such as harvesting.
AI is revolutionizing industries by enabling automation and improving operational efficiency.
ABB's software offerings are crucial for enhancing productivity in industrial robotics services.
Yaskawa Electric's Advanced PP Customization SDK is a key innovation driving market growth.
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