Global Industrial Robotics Market Propelled by Increasing Demand for Automation, Poised to Reach US $44.4 Bn by 2020
The global industrial robotics market was valued at USD 28.93 billion in 2013, growing at a CAGR of 6.2% from 2014 to 2020. ISO 8373 defines an industrial robot as an automatically reprogrammable, controlled, multipurpose manipulator programmable in three or more axes. It may either be fixed or mobile, as per its required use in industrial automation processes. There are different types of industrial robots which include cylindrical robots, articulated robots, Cartesian robots and SCARA robots among others.