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.
Access Research Report of 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 industrial
robotics market are ABB; Omron Adept Technologies, Inc.; Mitsubishi Electric
Corporation; YRG, Inc.; Toshiba Machine Co., Ltd.; and Panasonic Corporation.
Grand View Research has segmented the
global 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
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.
