An industrial robot is a robotic system used for manufacturing, welding, painting, assembly, pick & place, and others functions. It is an automated, programmable, and auto-learning system with high endurance, speed, and precision. Robotic technologies offer financial benefits to various industries owing to reduced overheads, increased productivity & flexibility, and waste reduction. New generation robots possess human attributes such as flexibility, intelligence, memory, recognition of objects, and learning ability. Robotics are widely adopted in manufacturing companies such as consumer electronics, automotive, and telecommunications owing to its enhanced efficiency and durability. The global industrial robotics market is expected to grow at a CAGR of 10.1% from 2017 to 2025.