Global Robotics Market to Surpass US$151 Billion by 2020

Albany, New York, November 18, 2016: According to a latest report by Renub, the worldwide spending on robotics and related services will hit the robotics market by $151 billion in 2020. The report is titled “Global Robotics Market, Volume & Forecast” and has been added to the vast archive of Market Research Hub. This study majorly focuses on the global demand of robots in various sectors. The market has augmented extensively due to the ongoing trend towards automation and continuous innovative advancements in service as well as industrial robotics.

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The report begins with the comprehensive assessment of the industrial robotics and service robotics market on the basis of its volume, market share and forecast during the period of 2010 to 2020. Further the market segmentation of industrial as well as service robotics are also mentioned. Industry robotics segment covered by this report are as follows

• Automotive Industry
• Electrical & Electronics Industry
• Metal Industry
• Chemical, Rubber and Plastics Industry
• Food Industry and others.

The report provides the market growth analysis in different regions. In 2014, Global robotics market was dominated by Asia Pacific region and is expected to continue for the estimated period as well. The products generate big revenue in automotive robotics market due to high density of related companies in this region.

On the other hand, service robotics segmentation includes:

• Medical
• Agriculture (Field)
• Defence
• Inspection
• Logistic
• Rescue and Security
• Construction
• Mobile Platform
• Underwater

Medical and defence robotics are the top two segments in service robotics sector.

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Nowadays adoption of robots is witnessing an increased worldwide growth as the companies are focusing to reduce the manual labor. This step is aimed to decrease the possibility of human errors through complete automation. Robots are used for doing several activities which include surgical operations, detecting and defusing bombs, assembling products, space missions, product checkup and domestic works.

According to the research study in recent years, demand of robots has increased massively and benefited the market especially in automation. Now, manufacturers are constantly opting for process automation due to rise in labor costs. They needs automation processes to deliver high quality products to increase manufacturing capabilities and to deliver better customer service. This factor pushes organizations to adopt robotics and further leading to the solidification of the market. Industrial Robotics has the lion’s share of more than 80 percent in global robotics market and others goes with service robotics.

Key companies are also profiled on the basis of SWOT and sales analysis, such as:

• Intuitive Surgical
• iRobot
• KUKA AG
• Adept Technology
• Nachi– Fujikoshi
• Yaskawa Electric Corporation

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This release was published on openPR.