Market Analysis for ABB IRB Robots Engr. Emmanuel Unanaowo Eno NSE, NIEEE, NISafetyE Industrial Controls Systems Specialist, Manchester, UK Emmaunuel.u.eno@gmail.com 1 ABSTRACT ABB IRB robots are among the most popular and widely used industrial robots in the market today. The robots have a wide range of applications, including welding, painting, material handling, and assembly. The market analysis for ABB IRB robots shows that the demand for these robots is increasing, driven by factors such as the need for increased efficiency and productivity, the demand for automation, and the need for precision and accuracy in industrial processes. The automotive industry remains the largest market for ABB IRB robots, followed by the metal and machinery industries. ABB has a significant market share in the robotics industry, and its IRB robots are known for their quality, reliability, and flexibility. However, competition in the market is increasing, with new players entering the market and established players introducing new products and technologies. ABB is responding to these challenges by investing in research and development to improve its products and technologies and by expanding its operations globally. Overall, the market analysis for ABB IRB robots shows that there is significant potential for growth in the market, and ABB is well-positioned to capitalize on these opportunities. 2 EXECUTIVE SUMMARY New forms of technology have been invented in the ever-evolving world and the urgency for improved traditional technology is on the rise. This is to increase productivity to meet the various needs of the respective stakeholders in all forms of life. According to Graetz & Michaels (2018), The use of robots helps in pursuing extremely dangerous jobs, especially in hazardous environments which are risky for human workers and performing multiple tasks in less time increases a company's productivity by cutting production costs and reducing project schedules. In this report, I will focus on; Product: Industrial Robot IRB Robot Series Company: ABB Ltd The market analysis conducted here focuses on the ABB IRB industrial robots. These robots are designed by ABB Ltd for industrial related activities. ABB Ltd is a leading company specializing in designing and selling technological products globally to diverse industries. The robotics market is wide globally and with a large number of robotic companies across the world, the ABB robotics company has ventured into offering unique products thriving through stiff competition. The demand for robotics products is huge, influenced by the growing need to automate production lines in various industries (Robotics, 2021). It is alleged that the market for robot products will significantly rise in the near future, placing ABB robots in a good position as new customers will reach for robotic services. 3 MARKET ANALYSIS 3.1 INDUSTRY COMMERCIAL OUTLOOK With the influx of many robotic companies in the market, the competition is stiff. Still, ABB Robots have claimed a significant market share through branding and persistent research in developing innovative products that improve their customers' experience. ABB Robotic company has existed for many years, which has helped the company claim a robust financial position. With the increased number of customers and its market expansion, the company's economic position is perceived to be a great one in the future. 3.2 COMPETITIVE ANALYSIS To measure the success of ABB IRB robots, we have to measure by examining the competition. Understanding the strengths and weakness of the competition is essential to help ABB Ltd grow and meet goals and targets. In this report, I will examine these competitions using SWOT analysis, PESTLE and Porters Five Forces and summarize to outline the strategies policies needed for ABB Ltd to stay in the market as a top robot services provider. 3.2.1 SWOT analysis of ABB IRB Robots According to Zafra & Guillen (2021), the following can be drawn about ABB Robots: Strengths - The company's strong brand reputation gives it a competitive advantage in the market. Intensive research of new technologies to integrate with their products has also been a key strength towards the company's success. The diversity of the products and management are also some of the company's key strengths. Weaknesses - Expensive products from the company may not be accommodative to all customers, and this hinders many prospective customers from developing an experience with the company. Also, despite the highly reputed brands, the company has not penetrated the market adequately. The ABB robots have been dependent on the already established markets.