Japan Industrial Robotics Industry Forecasted To Scale at a CAGR 45.5% From 2022 to 2027 By CIOTechOutlook Team

Japan Industrial Robotics Industry Forecasted To Scale at a CAGR 45.5% From 2022 to 2027

CIOTechOutlook Team | Monday, 19 June 2023, 06:17 IST

Japan's industrial robotics market is expected to grow at a CAGR of 45.5% from 2022 to 2027, according to a report by MarketsandMarkets titled "Japan Industrial Robotics Market by Type, Component, Payload, Application, Industry and Region- Global Forecast to 2027".

One of the world's top producers of electric vehicles is Japan. Due to improved assembly line procedures, the advent of completely electric and hybrid cars in the upcoming years is anticipated to increase demand for industrial robots. Due to the intense competition from foreign manufacturers in China and South Korea, sales of consumer electronics have decreased. However, it is anticipated that there would be a significant level of demand for electronic components like sensors and screens in the export market. Japan's international industrial robots sector is anticipated to expand gradually with FANUC and Yaskawa as its leading competitors.

Japan has a huge potential for automation because of its ageing population. The country's ageing population makes labour expensive, which raises the demand for industrial robots. The domestic labour force in Japan (aged 15–64) is expected to shrink by 24 million between 2017 and 2050, faster than the country's entire population, according to the International Monetary Fund.

Japan's population is expected to fall below 100 million sometime beyond the middle of the twenty-first century, according to a forecast from the Population Division of the UN Department of Economic and Social Affairs. By the end of the century, 34% of Japan's current population is predicted to have disappeared. Japan was the fourth-largest producer of commercial vehicles in 2018, according to the International Organisation of Motor Vehicle Manufacturers. Additionally, one of the major electronics manufacturing sectors in the world is located there.