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.
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report on industrial robotics market analysis:
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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.
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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
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Report:
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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: https://www.grandviewresearch.com/
