Industrial Robotics Market Driven by Demand from Food and Beverages Industry, High Initial Costs Deter Investors

Industrial robots are a multifaceted technological innovation that has transformed the industrial landscape around the world. Industrial robots are programmable machines that can perform a wide variety of tasks in industrial surroundings. They are much more efficient and effective than human labor: an industrial robot can work 24/7 with little to no aberration, and can perform a variety of tasks with equal competence.

Here is a lowdown on the major factors expected to influence the global industrial robotics market:

Rising Labor Costs: When the Western World started to have issues regarding high labor costs, they came upon an easy solution: outsourcing to the East. The low-income population in several Southeast Asian countries benefited from this. However, the rising economic status of some of these countries, such as India and China, is resulting in slowly growing problems of labor cost. This will lead to companies turning to a solution that doesn’t require payment at all: industrial robotics.

Rise in Innovation and Adoption of the Same: Technological innovation is always necessary in any field to keep it ahead of the game, and the field of industrial robotics is no exception. Rising government support to research in industrial robotics has led to a high volume of new robotics innovations being produced. The cost efficiency and often-higher efficacy of new models has also convinced manufacturers to employ advanced versions of industrial robotics tools and keep upgrading them regularly. This will lead to robust demand from the global industrial robotics market.

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Rising Automation in Food and Beverages Industry: Of all the end-use sectors of the global industrial robotics market, the food and beverage industry emerges as a leader in 2013, along with metals and precision and optics. The processed food industry is on a roll these days, due to the growing working female population in Asia Pacific and elsewhere, and would bank heavily on industrial robotics to fulfill the steadily rising demand.

Global Industrial Robotics Market

Due to the steady push for automation in several industries, the industrial robotics market is rising at a strong pace, according to leading market intelligence firm Transparency Market Research. According to research recently presented by the company, the global industrial robotics market, worth US$28.9 bn in 2013, is expected to exhibit a CAGR of 6.20% from 2014 to 2020. At this steady growth rate, the market is expected to be valued at close to US$44.5 bn by 2020.

The competitive landscape of the global industrial controls and robotics market consists of players such as Schneider Electric SA, Kawasaki Robotics, Omron Corporation, Rockwell Automation Inc., Siemens AG, Mitsubishi Electric Corporation, and Invensys plc. The key players have significant scope of growth across the emerging economies such as India and Brazil, says Transparency Market Research (TMR) in a new report.

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Governments in these countries are taking various initiatives to strengthen the manufacturing sector by improvising productivity. These countries usually import machines, technology, and components from developed countries such as France, Japan, and Germany. As a result, the emerging economies pose as an open market for the key players to increase their viability on a large scale.

North America Remains a Key Region for Growth of Global Industrial Controls and Robotics Market

Presently, the Americas is the target region for the market players to maximize their profits. In 2012, the region accounted for the highest share in the market, followed by Asia Pacific and Europe. “The rapid adoption of new technologies and the growing demand for large-scale production and re-engineering in the industrial sector are the primary factors backing up the growth of the market across North America,” a TMR analyst cites.

Among the major end-user industries, the automotive industry contributes the highest towards the growth of the global industrial controls and robotics market. However, the market players are shifting their focus on the semiconductors industry as it is projected to register the fastest growth during the forecast period. “The requirement of high degree precision with rapid production in the semiconductor industry can be addressed by industrial controls and robotics solutions,” TMR report mentions.

Transparency Market Research (TMR) is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information.

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This release was published on openPR.