Transparency Market Research has published a new report titled "Industrial Robotics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020" to its report store.
Albany, NY -- (SBWIRE) -- 12/19/2014 -- The global industrial robotics market is growing at a CAGR of 6.2% from 2014 to 2020. The market was worth US$28.93 billion in 2013 will reach an estimated value of US$44.48 billion in 2020. Transparency Market Research has released a report titled "Industrial Robotics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020" lists all the details required to attain a deep understanding of the industrial robotics market.
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The report states the increasing demand for industrial robotics in multiple industry verticals to be the primary factor that will drive the market in the forecast period of 2014 to 2020. Other drivers discussed in the report include increased research investments, increased infrastructure development investments, and reduction of duties. Infrastructure has been improving rapidly across the Rest of the World as well as Asia Pacific. These regions are expected to strengthen their hold over the industrial robotics market by 2020.
The report also says that access to the relatively new industry verticals including healthcare, instrumentation, and electronics, along with the increased penetration of robotics within labor intensive economies is further analyzed to boost the global industrial robotics market. The report also includes a section that describes the adoption of robotics in small and medium enterprises which ensures further market growth. The report details the various segments in the global industrial robotics market. It identifies the four major categories of type, function, industry, and geography. For instance, the report says that articulated robots led the global industrial robotics market in 2013, after gaining a 48.35% market share. Cartesian robots followed, with 20.31% market share in the same year.
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The report expresses that SCARA robots and cylindrical robots are two of the top types that will lead the market in terms of revenue generated within the forecast period of 2014 to 2020.
The automotive industry segment dominated consumption in the global industrial robotics industry in 2013, gathering a market share of 27.39%. The other segments that showed great promise were metals, precision instruments, optics, and goods and beverages. These segments are expected to grow at the fastest rates in the forecast period as compared to other industry verticals, mostly because of the heavy growth that will be experienced by these sectors.
The report gives a geographic detail of the industrial robotics market. It says that Asia Pacific is estimated to be the fastest growing regional market, displaying a CAGR of 7.6% within the forecast period. Primary reasons for this are given as key research and development practices being employed in India, China, Japan, and Australia.
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Some of the top players mentioned in the report include KUKA Robotics Corporation, Yaskawa Motoman Robotics, Denso Corporation, and FANUC Ltd.
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