The global industrial robotics market size is anticipated to reach USD
41.23 billion by 2020, according to a new report by Grand View Research, Inc.,
expanding at a CAGR of 7.0% during the forecast period. Rapid expansion of the
automotive industry worldwide and growing adoption of robotics in the
non-automotive industry including food & beverage, chemicals, rubber &
plastics, and electronics/electrical are stoking the growth of the market.
Companies
implementing industrial robots are increasingly realizing substantial financial
benefits, which is leading to a surge in installation of robots in contemporary
manufacturing plants. Integration of robots with production processes help
boost productivity, minimizes overheads, offers a high degree of flexibility,
increases quality, and reduces waste to a large extent as compared to outcome
of manual labor, which consequently propels the market.
Industrial
robots have been responsible for the formation of a new ecosystem characterized
by lucrative, rewarding, and high-paying jobs. Venture capitalists have opened
up to funding companies designing and manufacturing industrial robots.
Advancements in artificial intelligence and development of sophisticated
sensors are projected to augment the development of self-programming robots.
Full Research Report On Industrial
Robotics Market Analysis:
https://www.grandviewresearch.com/industry-analysis/industrial-robotics-market
https://www.grandviewresearch.com/industry-analysis/industrial-robotics-market
Further Key Findings from the Report
Suggest:
·
By 2020, the automotive segment
is expected to account for the largest revenue share of approximately 40.0%,
which can be attributed to the fact that robots play a vital role in the
assembly of vehicles
·
The metal/heavy machinery
segment was valued at nearly USD 3.0 billion in 2016. Robots are extensively
used in the sector on account of high degree of precision demanded coupled with
difficult nature of tasks involved
·
With a revenue of close to USD
16 million in 2016, the Asia Pacific region dominated the industry. Japan and
South Korea are expected to continue being dominant country markets in the
region
·
Robot industries in Asian
countries such as China, Korea, and Taiwan are supported by their respective
governments through programs addressing R&D funding, tax incentives, loans,
and investment in skills
·
Some of the key players in the
market are ABB; Omron Adept Technologies, Inc.; Mitsubishi Electric
Corporation; YRG, Inc.; Toshiba Machine Co., Ltd.; and Panasonic Corporation.
View More Reports Of This Category By Grand
View Research At: https://www.grandviewresearch.com/industry/semiconductors
Grand View Research has
segmented the industrial robotics market report into application and region.
Industrial Robotics Application Outlook
(Revenue, USD Million, 2014 - 2020)
·
Automotive
·
Electrical/Electronics
·
Metal/Heavy Machinery
·
Chemical, Rubber, &
Plastics
·
Food
·
Others
Industrial Robotics Regional Outlook
(Revenue, USD Million, 2014 - 2020)
·
North America
o U.S.
o Canada
o Mexico
·
Europe
o Germany
o Italy
o Spain
o U.K.
o France
·
Asia Pacific
o China
o Japan
o Korea
o Taiwan
·
Rest of World
View Press
Release of this research report by Grand View Research: https://www.grandviewresearch.com/press-release/global-industrial-robotics-market
About Grand
View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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