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Industrial Robotics Market to Grow by USD 16.71 Billion (2024-2028), Rising Demand for Industrial Robots, Report on AI-Driven Market Trends – Technavio

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NEW YORK, Nov. 26, 2024 /PRNewswire/ — Report on how AI is redefining market landscape – The global industrial robotics market size is estimated to grow by USD 16.71 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  13.26%  during the forecast period. Demand for industrial robots is driving market growth, with a trend towards integration of IoT with robotics. However, lack of skilled workers to operate industrial robots  poses a challenge.Key market players include ABB Ltd., b m surface systems GmbH, Comau Spa, DENSO Corp., Durr AG, FANUC Corp., Kawasaki Heavy Industries Ltd., MIDEA Group Co. Ltd., Mitsubishi Electric Corp., NACHI FUJIKOSHI Corp., OMRON Corp., Relay Robotics Inc., Rethink Robotics GmbH, Robert Bosch GmbH, Rockwell Automation Inc., Seiko Epson Corp., Shenyang Xinsong Robot Automation Co. Ltd., Staubli International AG, Teradyne Inc., and Yaskawa Electric Corp..

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Industrial Robotics Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 13.26%

Market growth 2024-2028

USD 16.71 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

12.78

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 38%

Key countries

US, China, Japan, India, and Germany

Key companies profiled

ABB Ltd., b m surface systems GmbH, Comau Spa, DENSO Corp., Durr AG, FANUC Corp., Kawasaki Heavy Industries Ltd., MIDEA Group Co. Ltd., Mitsubishi Electric Corp., NACHI FUJIKOSHI Corp., OMRON Corp., Relay Robotics Inc., Rethink Robotics GmbH, Robert Bosch GmbH, Rockwell Automation Inc., Seiko Epson Corp., Shenyang Xinsong Robot Automation Co. Ltd., Staubli International AG, Teradyne Inc., and Yaskawa Electric Corp.

Market Driver

Industrial robotics market is witnessing significant trends in automation, with robots taking over repetitive tasks in various sectors. France, India, South Africa, and the Middle East are key regions driving this development. Companies like Yaskawa Electric and Denso are at the forefront of this industry, providing productivity-enhancing technologies for material handling, welding, and SCARA robots. Automation solutions are essential for industries dealing with manufacturing processes that require precision, consistency, and flexibility. Robots are being integrated into production lines for tasks such as painting, soldering, and assembly, addressing the labor shortage. Industry 4.0 is pushing the role of robotics technology to new heights, with advancements in artificial intelligence, sensors, and integration capabilities. The robot market is forecasted to grow, with China and India being major players. Cobots and machines with multiple axes are becoming increasingly popular due to their flexibility and cost-effectiveness. Production lines in the U.S., Brazil, and Singapore are adopting automation solutions to enhance efficiency and product quality. Deployment of automation solutions in supply chains and assembly lines is a trend, with competition driving down costs and improving delivery times. Robots are being used to monitor and program operations, ensuring consistency and safety in manufacturing processes. The future of industrial robotics lies in the integration of robotics technology with artificial intelligence, allowing machines to learn and adapt to their environment. This will lead to more advanced automation solutions, meeting the needs of industries and enhancing the role of robots in manufacturing processes. 

The Industrial Robotics Market is experiencing significant growth due to the integration of the Internet of Things (IoT) in manufacturing processes. IoT allows for seamless data transfer between devices, leading to increased automation in industries. Smart and wireless devices, along with cloud technology, are driving the future of industrial robots, such as articulated robots. These robots offer real-time performance data, enhancing efficiency and productivity. Vendors are responding to market competition by offering IoT-enabled articulated robots, providing valuable insights for optimizing industrial operations. 

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 Market Challenges

The Industrial Robotics Market is experiencing significant growth as automation becomes a necessity for businesses to increase productivity and efficiency in various sectors. In France, for instance, the manufacturing industry is at the forefront of this development, with sectors like material handling, welding, and painting adopting robots for tasks that require precision and consistency. Companies like Yaskawa Electric and Denso are major players in this market, providing automation solutions that integrate sensors and artificial intelligence for flexibility and product quality. The market for industrial robots is diverse, with types ranging from SCARA and Cartesian robots to cobots and robots for tasks like soldering and welding. The robot market in China and India is forecasted to grow due to the need for automation and the shortage of labor. In South Africa and the Middle East, industries are deploying robots to improve capacity and reduce labor costs. Manufacturing processes in the U.S., Brazil, and Singapore are also adopting robotics technology to enhance production lines and improve delivery consistency. Robots are being used in assembly lines, material handling, and even in vehicle manufacturing. The role of robotics technology in Industry 4.0 is becoming increasingly important as machines become more interconnected and require monitoring and programming for optimal efficiency. Despite the benefits, challenges remain, including the initial costs of deployment and maintenance. The competition in the market is fierce, with companies striving to offer the most advanced technologies and capabilities. The future of industrial robotics lies in the integration of artificial intelligence and advancements in safety features, making robots an essential tool for businesses looking to stay competitive in today’s manufacturing landscape.Industrial robots offer numerous advantages in manufacturing processes, including enhanced accuracy and productivity. However, the market growth is hindered by the challenge of acquiring a skilled workforce. End-users face difficulties in finding workers with the necessary qualifications to operate and maintain robotic technology. Industrial robots require a high level of technical expertise, making it essential for operators to have a solid understanding of data exchange between the robots and the assembly line. Unfortunately, not all workers possess the required skills, limiting the adoption of robots in industrial settings. Consequently, there is a pressing need for training programs to upskill the workforce and prepare them for the integration of advanced robotics in manufacturing facilities.

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Segment Overview 

This industrial robotics market report extensively covers market segmentation by  

Type 1.1 Articulated1.2 SCARA1.3 Cylindrical1.4 OthersEnd-user 2.1 Electrical and electronics2.2 Automotive2.3 Metal and machinery2.4 Pharmaceuticals2.5 OthersGeography 3.1 APAC3.2 Europe3.3 North America3.4 South America3.5 Middle East and Africa

1.1 Articulated-  Articulated robots are a prominent segment in the industrial robotics market, providing adaptability and flexibility across numerous industries, including automotive, metals and machinery, and pharmaceuticals. These robots, which mimic human arm movements through multiple rotary joints, enable them to navigate confined spaces and execute intricate tasks with precision. The 6-axis robot, offering six degrees of freedom, is the most widely used configuration for articulated robots. Renowned for their high accuracy and dexterity, these robots are employed for applications such as material handling, welding, painting, and assembly. In the automotive sector, they are frequently utilized for tasks like spot welding, which necessitates precise placement at various locations on a car body. The size and configuration of the robot determine its payload capacity, ranging from entire car bodies to tiny electronic components. The expanding capabilities and performance of robotics technology are expected to drive the growth of the global industrial robotics market’s articulated segment throughout the forecast period.

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Research Analysis

Industrial robotics is revolutionizing manufacturing processes by automating repetitive tasks, enhancing productivity, and improving product quality. Technologies such as SCARA robots, cobots, and industrial vehicles are transforming material handling, welding, soldering, painting, and other sectors. The role of industrial robots extends beyond factories, with applications in manufacturing processes for various industries. Development in robotics is at the forefront of Industry 4.0, integrating sensors, artificial intelligence, and machine learning for greater flexibility and consistency in production lines. Capacity and precision are key benefits, reducing labor costs and increasing efficiency. Maintenance and integration with supply chains are crucial considerations, with forecasts predicting continued growth in the robot market. Production lines and assembly lines are becoming smarter and more automated, leading to cost savings and improved client satisfaction.

Market Research Overview

Industrial robotics is a dynamic and evolving market that focuses on automating various tasks in manufacturing processes. This sector encompasses technologies such as SCARA, welding, material handling, and painting robots, among others. The market is witnessing significant growth in sectors like automotive, electronics, and food and beverage, driven by the need for increased productivity and consistency. France, India, South Africa, and the Middle East are among the regions experiencing rapid development in industrial robotics. Technologies like Industry 4.0, artificial intelligence, and sensors are at the forefront of this growth, enabling machines to learn and adapt, and providing flexibility in production lines. The role of robotics in manufacturing processes is becoming increasingly important as labor costs rise and the need for precision, efficiency, and flexibility grows. Robots are being deployed in a variety of industries, from material handling and welding to soldering and painting. The market for industrial robots is expected to continue growing, with forecasts indicating a significant increase in sales over the next few years. The robot market in China and India is expected to see particularly strong growth, driven by the scale of their manufacturing industries and the need for automation solutions. The deployment of industrial robots is not without challenges, however. Maintenance and integration into existing production lines can be complex, and there is a shortage of skilled labor to program and operate the machines. Despite these challenges, the benefits of industrial robotics, including increased capacity, improved product quality, and reduced labor costs, make it a vital part of modern manufacturing processes.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeArticulatedSCARACylindricalOthersEnd-userElectrical And ElectronicsAutomotiveMetal And MachineryPharmaceuticalsOthersGeographyAPACEuropeNorth AmericaSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Qued Partners with Don Hummer Trucking to Bring AI-Powered Smart Appointments to a Family Fleet Trusted for More Than 70 Years

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Family-owned Iowa truckload carrier has confirmed more than 10,000 appointments through Qued, with email scheduling handled at a 98.8% success rate

BROADLANDS, Va., July 21, 2026 /PRNewswire-PRWeb/ — Qued, a leader in developing sophisticated, automated appointment scheduling solutions for supply chain and logistics companies, today announced a strategic partnership with Don Hummer Trucking Corporation, a family-owned interstate truckload carrier trusted by some of the nation’s most recognizable brands. Don Hummer Trucking has deployed Qued’s Smart Appointments platform to automate appointment scheduling across its operations, taking manual booking work off the desks of the people who keep its trucks moving.

Every load delivered safely and on time carries the opportunity to earn our customer’s trust. Qued took a job that used to eat hours of our team’s day and quietly handles it in the background.

The numbers behind the announcement:

More than 10,000 appointments confirmed through Qued94.2% confirmation rate98.8% success rate on email-based scheduling

Qued’s platform selects the best appointment slots in real time, weighing ETAs, facility capacity, historical performance, and the specific requirements of each location. It connects directly to the transportation management system a carrier already runs, and it works on every channel a facility can require: web portals, email, and AI-powered voice calls. At Don Hummer Trucking, email scheduling has been the standout, with Qued handling email-based appointment requests at a 98.8% success rate.

“Don Hummer Trucking is the kind of company this industry is built on. The president holds a CDL and delivers loads. The family name rides on every trailer,” said Tom Curee, President of Qued. “When a three-generation fleet with that much on the line trusts Qued with its appointments, we take it seriously. Hummer’s confirmation numbers show what disciplined operators get when real automation goes to work on scheduling.”

“Every load delivered safely and on time carries the opportunity to earn our customer’s trust. Qued took a job that used to eat hours of our team’s day and quietly handles it in the background. Confirmations happen, trucks keep moving, and our people stay focused on drivers and customers,” said Jake Von Feldt, Vice President of Finance at Don Hummer Trucking.

Don Hummer Trucking joins a growing roster of asset-based carriers on Qued, from family fleets to some of the largest carriers in North America.

About Qued:

Qued is a cloud-based, AI-powered smart workflow automation platform transforming load appointment scheduling for brokers, 3PLs, and carriers. By automating the scheduling process, Qued eliminates manual work, simplifies multi-stop load appointments, and ensures seamless coordination across the supply chain, improving both operational efficiency and customer satisfaction. For more information, visit www.qued.com or contact us at contact.us@qued.com.

About Don Hummer Trucking:

Don Hummer Trucking Corporation is a family-owned and operated, for-hire interstate truckload carrier headquartered in Cedar Rapids, Iowa, with terminal operations in Homestead, Iowa. The Hummer name has been trusted in freight transportation for more than 70 years, and the company today serves many of the largest shippers in the country. For more information, visit www.donhummertrucking.com.

Media Contact

Adam Robinson, The Robinson Agency, 1 2148720780, adam@the-robinson-agency.com, The Robinson Agency 

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Bank of America Enhances EricaAssist with Generative AI to Help Employees Resolve Client Needs Faster

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New AI capabilities deliver relevant insights in seconds, helping employees provide more personalized client service in real-time

Key takeaways

More than 18,000 employees use EricaAssist as a human-assisted AI agent to help serve clients.
New Generative AI (Gen AI) capabilities deliver contextual guidance in under three seconds, helping resolve client needs faster and supporting decision making by customer service representatives.
EricaAssist reduces average call times by nearly one minute per interaction, improving efficiency and client experience.

CHARLOTTE, N.C., July 21, 2026 /PRNewswire/ — Bank of America (BofA) today announced enhancements to EricaAssist, its human assisted AI agent that supports employees during client conversations, delivering real time insights that help resolve client needs faster while keeping the employee at the center of the experience.

Used by more than 18,000 customer service representatives, EricaAssist works alongside employees during calls – summarizing and surfacing relevant guidance in real time – so employees can focus on listening to and understanding clients, explaining solutions, and building stronger relationships. The enhancements are making our human agents better and providing our customers with an improved and more efficient experience.

“EricaAssist reflects our high tech, high touch approach,” said Ashley Ross, Head of Consumer Client Experience and Business Transformation at Bank of America. “By combining human judgment with real time AI guidance, we’re helping employees navigate complex topics more easily and serve clients more effectively in the moments that matter most.”

Bank of America customer service representatives use generative AI capabilities within EricaAssist to summarize why a client is calling, pull together relevant information, and recommend next steps based on the employee’s role and the client’s relationship with the bank – all without interrupting the flow of the conversation.

“This technology helps our teammates deliver relevant insights in seconds, while operating with strong governance, transparency, and accountability,” said Tom Ellis, Chief Information Officer and Head of Consumer Technology at Bank of America.

Later this year, Bank of America plans to expand EricaAssist to support additional servicing scenarios and business lines.

Frequently asked questions

Question: Why enhance EricaAssist with GenAI capabilities?

Answer: Enhancing EricaAssist reflects the bank’s focus on continuously improving how employees access and deliver personalized guidance and resolve client needs faster.

Question: How do EricaAssist enhancements reflect Bank of America’s broader investments in technology?

Answer: Bank of America spends $14 billion annually on technology, of which more than $4 billion is allocated to new initiatives, including AI. These ongoing investments, combined with our high-tech, high-touch approach, continue to enhance our client experiences across all channels and to drive operational efficiencies across the company.

Question: Why blend AI with employee decision making?

Answer: Our responsible AI strategy ensures human oversight, transparency, and accountability for all outcomes. By leveraging AI at scale across our global operations, we are optimizing performance and improving client experiences. EricaAssist works alongside employees, supporting their decision-making and service. Employees ensure clients receive thoughtful guidance, with AI operating within established governance and oversight.

Bank of America
Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving nearly 70 million clients with approximately 3,500 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 60 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. As the #1 small business lender in the United States (FDIC), Bank of America offers industry-leading support to approximately 4 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries and/or jurisdictions. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom and register for news email alerts.

Reporters may contact
Catherine Page, Bank of America
Phone: 1.704.519.7314
catherine.page@bofa.com

Don Vecchiarello, Bank of America
Phone: 1.980.387.4899
don.vecchiarello@bofa.com

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Sonilo and fal Launch Sound Effects 1.0 for Realistic Sound Effects from Video and Text

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Exclusive API co-launch brings Video-to-Sound Effects and Text-to-Sound Effects generation to developers through fal

SAN FRANCISCO, July 21, 2026 /PRNewswire/ — Sonilo, a generative audio company building video-native sound and music models, and fal, the generative media platform for developers and enterprises, today announced the launch of Sonilo Sound Effects 1.0, a new model that generates highly realistic sound effects from video or text.

With video input, Sound Effects 1.0 analyzes what is happening on screen and generates one finished audio track synced to the motion, timing and scene. With text input, developers and creators can describe a specific sound effect and generate it directly.

fal will serve as the model’s exclusive API launch partner during its initial launch period, providing developers with day zero access through fal’s production-ready infrastructure.

Sound Effects 1.0 is designed to address one of the most persistent gaps in AI video production: footage can look complete while still requiring significant manual work before it sounds complete.

When given a video, the model analyzes on-screen motion, scene context, environments, and timing before generating audio that follows what is happening on screen.

Instead of returning a collection of disconnected audio assets that still need to be placed and aligned one by one, Sound Effects 1.0 can produce a synchronized audio track that is ready to review, refine and add to the edit.

“Sound effects only work when they feel like they belong in the scene,” said Trista Hong, Co-Founder of Sonilo. “Sound Effects 1.0 was built around that complete problem: understanding the footage, generating realistic audio, and synchronizing it automatically. We’re excited to launch it together with fal and bring video-native sound into real production workflows.”

A Sound Model Built Around the Video

Traditional sound-design workflows typically begin outside the footage. Editors search sound libraries, preview multiple assets, place them on a timeline, align each effect to the appropriate frame, adjust levels and repeat the process across every action in the scene.

Sound Effects 1.0 begins with the video itself.

The model uses the footage as both a source of semantic information and the timing foundation for the generated audio. It determines what is happening in the scene, what sounds are appropriate for those events and when those sounds should occur.

This video-native approach is particularly useful for scenes containing multiple actions, transitions, impacts and environmental details. Rather than requiring creators to build the sound layer one asset at a time, the model can generate audio around the structure of the footage as a whole.

Sound Effects 1.0 supports video inputs of up to three minutes, making it suitable for short-form content, advertisements, gaming footage, product videos and longer narrative scenes.

Automatic Generation When Speed Matters, Prompt Control When Direction Matters

Sound Effects 1.0 supports two complementary generation workflows.

Video-to-Sound-Effects analyzes uploaded footage and generates sound effects matched to its visible actions, environments and timing.

Text-to-Sound-Effects generates specific standalone sounds from written descriptions, giving creators and developers direct control when they need a particular audio asset.

Prompts are optional in the video workflow. Users can allow the model to interpret footage automatically or provide a prompt requesting a particular sound, emphasis or creative direction.

The prompt helps shape what the model generates, while the video continues to determine when the sound should occur.

This gives users two practical modes of working: automatic sound generation when speed and coverage are the priority, and prompt-guided generation when a scene requires more precise creative control.

Bringing Video-Native Sound Generation to Developers through fal

The co-launch gives developers access to Sound Effects 1.0 through fal’s generative media infrastructure, allowing video-conditioned sound generation to be incorporated directly into products and production workflows.

Developers can use the model to build synchronized sound generation into:

AI video editors and generation platforms;Short-form and social video tools;Advertising and branded-content workflows;Game prototypes, gameplay videos and cinematics;Film and narrative-production pipelines; andMultimodal creator products that combine video, music and sound.

“We’re entering a new era where AI applications don’t just generate assets, they produce complete experiences,” said Tina Sang, Head of Marketing at fal. “Sound is fundamental to making those experiences believable. Sonilo Sound Effects 1.0 helps developers generate context-aware, synchronized audio that matches what’s happening on screen, and we’re very excited to bring it to fal, day zero.”

The integration is designed to let teams move from initial testing to product deployment without building and operating a separate model-serving stack. Developers can access the model through fal’s API and developer tooling while keeping sound generation inside the same environment as their broader generative media workflows.

Expanding the Sonilo and fal Partnership

The launch expands an existing relationship between Sonilo and fal.

Sonilo Music v1.1 is already available through fal, giving developers access to both Video-to-Music and Text-to-Music generation. Sound Effects 1.0 extends that integration from generated music into highly realistic, video-conditioned sound effects.

Using the same source footage, creators and developers can generate sound effects around visible actions and environments, then generate music informed by the video’s pacing, scene changes, mood and timing.

This creates a broader video-first audio workflow in which a single video can serve as the timing foundation for both sound design and music. Sound effects can follow what happens on screen, while music can follow the emotional and structural movement of the edit.

By connecting both layers around the source footage, Sonilo aims to reduce manual synchronization, repetitive asset placement and unnecessary switching between separate audio tools.

Built for Real Production Workflows

For AI video creators, Sound Effects 1.0 can add action cues, environmental details, movement and transitions to generated footage that otherwise arrives without usable audio.

For high-volume creators and gaming channels, the model can reduce repetitive timeline work across content requiring dense sound design, including impacts, interface sounds, room tone and movement.

For filmmakers and narrative teams, it can generate scene-level elements such as footsteps, doors, physical interactions and ambience directly from an edit.

For brands and advertising teams, it can produce precisely timed audio around product interactions, camera transitions, packaging moments and visual reveals.

For platforms and API products, it provides a way to add video-conditioned sound generation without requiring users to leave the product and assemble audio in a separate editing workflow.

About Sonilo

Sonilo builds video-native generative audio models for creators, developers and media platforms. Its technology generates music and sound effects directly from footage or text, helping teams bring audio into the video-creation workflow and reduce manual timeline work. Sonilo is headquartered in San Francisco and backed by B Capital.

Learn more at https://sonilo.com/.

About fal

fal is a generative media platform that provides developers with access to the world’s best generative image, video, and audio models through a unified API. Trusted by over 2.5 million developers and leading companies, fal offers the fastest inference engine for diffusion models, on-demand serverless GPUs, and dedicated compute clusters for frontier research. Learn more at fal.ai.

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