Global Industrial Robotics Market To Reach Around USD 42.0 Billion by 2020
Deerfield Beach, FL -- (SBWIRE) -- 10/02/2017 -- According to the report, global demand for industrial robotics was valued at USD 30.0 billion in 2014, and is expected to reach USD 42.0 billion in 2020, growing at a CAGR of 6.0% between 2015 and 2020. Zion Market Research has published a new report titled "Industrial Robotics Market By Function (Materials Handling, Milling, Cutting & Processing, Soldering & Welding, Painting & Dispensing, Assembling & Disassembling and Others), By Type (Cartesian, Articulated, Cylindrical, SCARA and Others), for Electrical & Electronics, Automotive, Machinery, Chemical, Rubber & Plastics, Food & Beverages, Metals, Precision & Optics and Other Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2014 – 2020."
The industrial robots are machines capable of performing the intricate and heavy tasks automatically. These machines are designed for multipurpose and can be reprogrammed as per requirement. These machines save time and labors as well as money and have the ability to perform the tasks with high endurance, speed, and precision that are difficult for human beings. Industrial robots have broad range of applications such as welding, painting, ironing, assembly, pick and place, palletizing, product inspection and testing.
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The global industrial robotics market is mainly driven by rapidly growing demand in the automotive industry. The industrial robot has the ability to perform the complex and huge tasks with precession and speed. Hence, this factor counts to increase in growth of electronics and automotive industry during the years to come. Another factor is improvement in technology which in turn is expected to result in high productivity. High investment for research and development and is expected to exhibit significant growth in revenue of the market. In addition, the adoption of this advanced technology in small and medium enterprises (SME) is also augmenting segment for the increase in market size within the forecast period.
Material handling, milling, cutting & processing, soldering & welding, painting & dispensing, assembling & disassembling and others are the key functions of the global industrial robotics market. Material handling was one of the leading segments of the market in 2014. It accounted for around 35% share of total market in 2014 and this trend is expected to continue in future till 2020. Due to growing industrialization coupled with rising disposable income of the population across the globe. Soldering & welding was the follower of the material handling in the same year. Another segment like packaging, consumer electronics and electrical industry are some important outlets that are expected to have remarkable growth due to the strong demand from Asia-Pacific and Asia Central region during the estimated period.
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Based on type, the global industrial robotics market includes Cartesian, articulated, cylindrical, SCARA and others. Articulated robots dominate the other type segment with a significant share of the entire market in the year 2014. However, Cartesian robots was the second highest segment that contributes to noteworthy growth of market in same year. Moreover, SCARA robots and cylindrical robots are also likely to exhibit robust growth due to growing usage in various end- applications in the near future.
Global industrial robotics market has been segmented on the basis of the application include electrical & electronics, automotive, machinery, chemical, rubber & plastics, food & beverages, metals and precision & optics. With more than 40% share of total revenue generated, automotive industry was the largest application market for industrial robotics in 2014. This growth is attributed to features like cost-effectiveness, job-efficiency and safety. Robust growth of electrical & electronics manufacturing, food industry, chemical & plastics industry and rubber industry regarding use of industrial robotics is expected to grow up the market at a rapid pace during the years to come.
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Asia-Pacific dominated the industrial robotics market with highest contribution to the total revenue generated globally in 2014. Asia Pacific accounted for more than 50% share of the global industrial robotics market in 2014. In Asia-pacific, Japan was one of the leading regions and followed by the China. Europe and North America is expected to have strong growth in automotive and electronics due to advanced technology. This is expected to boost demand for industrial robotics over years to come.
Some of the key players for global industrial robotics market includes Daihen Corporation, Denso Corporation, Epson America, Inc., FANUC Ltd., Kawasaki Heavy Industries Ltd., KUKA Robotics Corporation, Mitsubishi Electric Corporation, Nachi Robotic Systems, Inc., Panasonic Corporation, Universal Robots and Yaskawa Motoman Robotics.
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