Press release
Global Industrial Controls and Robotics Market: Need for Efficiency and Fast Production Driving Demand
Players are increasingly participating in mergers and acquisition activities, which are helping them boost their market and product portfolio. Some of the key players in the market are: Kawasaki Robotics, Schneider Electric SA, Omron Corporation, Siemens AG, Rockwell Automation Inc, Invensys plc., and Mitsubishi Electric Corporation.
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According to TMR, the global industrial robotics market is estimated to be worth US$147.7 bn by 2019. By end user industry, the automotive industry is anticipated to lead in the market. The semiconductor market segment is anticipated to emerge as the fastest expanding end user segment in the coming years. the need for absolute precision and a need for rapid production will be factors driving the adoption of industrial robots in the semiconductor market.
On the basis of geography, Asia Pacific is anticipated to lead in the market. Countries such as China, Australia, India, and Japan are increasingly demanding industrial robots. The growing adoption of these robots in small and medium enterprises (SMEs) will bolster the demand for industrial robots in the region, says TMR.
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The growing need for enhanced productivity is one of the key factors fueling the growth of the global industrial robots market. The adoption of these devices helps decrease variable cost and reduce the manufacturing time. Thus, industrial robots are being preferred extensively across the manufacturing industry. The use of industrial robots to minimize errors and accidents of workers while performing hazardous tasks is another reason why they will witness high demand.
On the other hand, the investment required to be made initially for setting up industrial robotics and controls is very high. “Also, another challenge faced by market players is the unavailability of cheap labor,” states a TMR analyst. Cheap labor is found in developing nations but not in other nations and this restricts the global expansion of industrial robotics market.
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However, there lies immense scope of growth in the market as customized industrial robotics becomes a trend. Also, the growth of small and medium scale enterprises in developing nations will serve as growth opportunity.
Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations
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