The high presence of automotive and electronics industries along with low-cost manufacturing units in the Asia-Pacific region fosters the employment of industrial robotics in industries. Industrial robots lead the Asia-Pacific robotics technology market.
Portland, OR -- (SBWIRE) -- 06/18/2018 -- APAC Robotics Technology Market is expected to garner revenue of $29.5 billion by 2020, registering a CAGR of 9.12% during the forecast period 2015-2020. Robotics technology includes the integration of electronics, artificial intelligence, computer science, mechatronics, bioengineering, and nanotechnology for design and development of robots. It is a technology dealing with application of computer-controlled robots for performing manipulative tasks. Robots are intelligent devices containing sensors, manipulators, control systems, power supply, and software to perform a task with increased efficiency.
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Robots are increasingly being employed in diverse industries for effective management of resources, high production output and efficiency, minimal material wastage, and reduced operation costs. Industries including automotive, electronics, aerospace, defence, healthcare, education, agriculture, and food & beverages have increased the adoption of robotics technology for automation of processes. The growth of smart mobile devices in these industries has further fuelled the growth of robotics technology.
The rising aging population in this region also drives the demand of service robots in countries like China and Japan. Increased application of robots in diverse industries including entertainment, education, and healthcare further supplements the growth of this market. The factors restricting the growth of the market include high initial investment, and stringent safety regulations. Advancement in technologies including swarm robotics, cloud robotics, and bio-mimetics would provide numerous growth opportunities in the market.
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Employment of robots enables enterprises to automate processes, manufacture high quality products in large volumes, and increase production output, while reducing costs and wastage of resources. With increasing advancement in technologies, robots are used in wide applications including pharmacy, tele-surgery, physical therapy, manufacturing of electronic equipment, bomb diffusion, rescue operations, and assistance during natural disasters.
The major players operating in the Asia-Pacific Robotics technology market include ABB Group, Fanuc Corporation, Yamaha Corporation, and Yaskawa Electric Corporation. These players offer a diverse portfolio of robots to cater to the demands of organizations in the region. These vendors have developed affordable, compact, and energy efficient robots for application in small and medium businesses.
Key findings of Asia-Pacific Robotics Technology Market:
The Asia-Pacific robotics technology market is expected to grow rapidly during the forecast period owing to increased demand for automation
The service robotics segment would register the fastest CAGR during 2015-2020
The automotive application accounts for a major share in the Asia-Pacific robotics technology market
China is forecasted to generate the maximum revenue in the Asia-Pacific robotics technology market
The prominent vendors in the market include Fanuc Corporation, ABB Group, Yamaha Corporation, Yaskawa Electric Corporation, Honda Motor Co. Ltd., Kawasaki Heavy Industries Ltd, and Seiko Epson Corporation. These players introduce new innovative products to enhance their offerings in the market and strengthen their market position.