Press release
Global Industrial Robotics Market Size Is Anticipated To Reach $41.23 Billion by 2020, Expanding At A CAGR of 7.0% During The Forecast Period
Industrial Robotics Market
Companies implementing industrial robots are increasingly realizing substantial financial benefits, which is leading to a surge in installation of robots in contemporary manufacturing plants. Integration of robots with production processes help boost productivity, minimizes overheads, offers a high degree of flexibility, increases quality, and reduces waste to a large extent as compared to outcome of manual labor, which consequently propels the market.
Industrial robots have been responsible for the formation of a new ecosystem characterized by lucrative, rewarding, and high-paying jobs. Venture capitalists have opened up to funding companies designing and manufacturing industrial robots. Advancements in artificial intelligence and development of sophisticated sensors are projected to augment the development of self-programming robots.
Further Key Findings from the Report Suggest:
By 2020, the automotive segment is expected to account for the largest revenue share of approximately 40.0%, which can be attributed to the fact that robots play a vital role in the assembly of vehicles
The metal/heavy machinery segment was valued at nearly USD 3.0 billion in 2016. Robots are extensively used in the sector on account of high degree of precision demanded coupled with difficult nature of tasks involved
With a revenue of close to USD 16 million in 2016, the Asia Pacific region dominated the industry. Japan and South Korea are expected to continue being dominant country markets in the region
Robot industries in Asian countries such as China, Korea, and Taiwan are supported by their respective governments through programs addressing R&D funding, tax incentives, loans, and investment in skills
Some of the key players in the market are ABB; Omron Adept Technologies, Inc.; Mitsubishi Electric Corporation; YRG, Inc.; Toshiba Machine Co., Ltd.; and Panasonic Corporation.
Industrial Robotics Application Outlook (Revenue, USD Million, 2014 - 2020)
Automotive
Electrical/Electronics
Metal/Heavy Machinery
Chemical, Rubber, & Plastics
Food
Others
In-depth Research Insights: https://tinyurl.com/IndustrialRoboticsMarket
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials, and healthcare.
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll-Free: 1-888-202-9519
Email: sales@grandviewresearch.com
For More Info: www.grandviewresearch.com
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