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Robotics Market - Heavy Investment from Defense Sector for Accurate and Advanced Unmanned Aerial Vehicles a Boon for Market
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As per TMR’s research, the global robotics market is likely to collect a revenue valuation of US$147.26 bn by 2025 at a CAGR of 17.4% for the forecast period of 2017 to 2025. The market attracted a revenue of US$35.23 bn in 2016. Vis-à-vis volume, the global robotics market stood at 677.2 thousand units in 2016 and is predicted to amount to 2,731.2 thousand units by 2025 rising at a CAGR of 17.0% between 2017 and 2025. Static type robot leads among other type segments as it is widely deployed across various industries such as manufacturing, aerospace, and automotive. North America occupies the leading position in the global robotics market among other key regional segments.
“Across the world, labor-intensive industries are facing challenges of rising labor cost and lack of skilled workforce. This has pushed companies to adopt robotic technology to automate operations.
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The automotive, healthcare, and aerospace industries, for instance, are facing major challenges of lack of skilled workforce, and are thus incorporating robots into their process. Industrial robots are capable of performing a variety of programmed tasks in manufacturing and production settings that are often dangerous for human workers. Service robots, on the other hand, assist human beings for jobs that are typically repetitive and are dangerous.
The demand for unmanned aerial vehicles in the defense sector is increasing at a rapid rate,” says a TMR analyst. Unmanned aerial vehicles have significance for surveillance, capturing images, and for conducting targeted bombing discreetly among other purposes. Apart from this, military drones are cost-effective over manned aerial vehicles and have the advantages of loitering above the ground and gather maximum information pertaining to the target discreetly that ground attack combats are not capable of.
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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