The Global Industrial Robotics Market is expected to exceed USD 40 billion by
2020, according to a new study by Grand View Research, Inc. Increased demand
from the automotive industry, coupled with growing labor costs has consequently
encouraged industrial robots’ deployment in manufacturing. Increased emphasis
on production quality in order to ensure survival in the competitive
manufacturing sector is expected to drive the industrial robotics market.
Growing measures pertaining to laborers’ safety have resulted in substitution
of manual labor in industries by robots, thereby augmenting industrial robotics
demand.
Growing adoption of robots in
non-automotive applications such as electronics, chemicals, and food &
beverages has opened up new avenues for industrial robotics in recent years.
High installation costs may make industries in developing markets circumspect
about the adoption of robots, which may hinder market growth. Unavailability of
skilled labor and technicians is expected to pose a challenge to companies
operating in the market.
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Further key findings from the study suggest:
- Automotive robots accounted for the highest market volume share in 2013 and are expected to dominate the market over the forecast period owing to the opening up of avenues through new markets and technologies. Adoption of robots in food processing and heavy machinery industries is expected to grow at a high rate throughout the forecast period.
- Asia Pacific constituted a key regional market in 2013, which can be primarily attributed to significant investments by automotive manufacturing companies in their pursuit of extending global influence. China, Japan, and Korea dominated industrial robotics installation in 2013, whereas India, Taiwan, and Singapore are expected to show high growth potential. Modernization of factories, coupled with increase in production capacities has accelerated the pace of robot installations in North America. Substantial investments in robotics by automotive industries in Europe resulted in several robots being installed, with Germany leading the number of installations.
- The global industrial robotics market is characterized by the presence of several Japanese suppliers such as Fanuc, Denso, and Motoman. Europe consists of major specialized industrial robotics companies such as Comau and Kuka, as well as renowned conglomerates having a significant presence in the industrial robotics market space such as ABB and BAE Systems. Prominent robot clusters comprising suppliers, R&D and education institutions have been formed worldwide. For instance, U.S. based iRobot comprises a cluster of spin-out companies, research institutes, and suppliers.
For the purpose of this study, Grand View Research has
segmented the global industrial robotics market on the basis of application and
region:
About Grand View
Research
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, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
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