Industrial Robotics Market is Growing at a CAGR of 14.2% between 2018 and 2025 by Leading Players ABB Ltd., Kawasaki Heavy Industries, Ltd., Yaskawa Electric Corporation, Fanuc Corporation, Kuka AG, Mitsubishi Electric Corporation, Denso Corporation
Global industrial robotics market is expected to grow from US$ 16,847.6 million in 2017 to US$ 48,166.9 million by 2025 at a CAGR of 14.2% between 2018 and 2025.
The report focuses on an in-depth segmentation of this market based by types, function and industry. The geographic segmentation of the report covers five major regions including; North Americas, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SA). The regional market has been further bifurcated by respective countries. By industry segment, automotive sector accounted for the largest share of the industrial robotics market in 2017; whereas APAC region is expected to grow at the highest CAGR during the forecast period.
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Only a handful of players dominate the global industrial robotics market owing to high investments, enhanced R&D capabilities, and strong supplier relationships among others. Few of the players that are operating successfully in global industrial robotics market space are Kawasaki Heavy Industries Ltd., Fanuc Corporation, Mitsubishi Electric Corporation, and Yaskawa Electric Corporation.
According to Robotic Industries Association (RIA), the robot sales increased in the first quarter of 2017 as compared to the first quarter of 2016 by 32%, and is expected to experience continuous growth in the coming years. Also, the robotic technology is advancing with a large number of innovations in the field. For instance, Spider-like Delta robots coming with 2-D and 3-D vision guidance and force sensing that increases the speed and reduces the need for expensive part fixturing. Furthermore, compliant grippers that can grasp irregular and unpredictable shapes such as mixed parts, are enabling the automation of tasks, which were earlier only suitable for human hands.
Major market initiatives were observed in the APAC region particularly, China, South Korea and Taiwan. APAC is leading the global industrial robotics market, followed by Europe. Europe is another region where industrial robotics has flourished to a very high extent. The primary reasons for the development of industrial robotics in APAC and Europe is attributed to the major investments taken in the regions by the government as well as high adoption of automation by several industries in the regions for the increasing their endurance, speed, precision, and compete effectively in the global industrial robotics market.
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