Of late, the global market for industrial robotics has been witnessing a tremendous rise in its market valuation, thanks to the rising popularity of automation. On account of the increasing labor cost, the need for automation has increased in various markets such as automotive and construction, fueling the demand for industrial robots in the global arena.
Browse the full Global Industrial Robotics Market Report: http://www.mrrse.com/global-industrial-robotics-market
In 2013, the global industrial robotics market had reached a value US$28.9 bn, states a research report published by Transparency Market Research (TMR), a market intelligence and research firm. Analysts at TMR further estimate this market to rise at a CAGR of 6.20% over the period from 2014 to 2020 and reach US$44.5 bn by the end of 2020.
Increasing Uptake of Industrial Robots among SMEs to Drive Market
The rising adoption of industrial robots among medium and small-scale businesses is presenting an attractive opportunity for market participants. In addition to this, the regional expansion of this market in Asia Pacific is anticipated to strengthen its position across the world in the coming years.
Browse the full Press Release of Global Industrial Robotics Market: http://www.mrrse.com/global-industrial-robotics-industry
Overall, the global market for industrial robotics is indicating a flourishing future. However, the sluggishness in industrial production activities globally is expected to limit the growth of this market in the near future. The high initial investment is another reason that can hamper the steady growth of this market over the coming years. Here is a snapshot of the overall performance of the worldwide industrial robotics market in recent times.
Universal Robots, Panasonic Corp., Yaskawa Motoman Robotics, Nachi Robotic Systems, Inc., Mitsubishi Electric Corp., KUKA Robotics Corp, Kawasaki Heavy Industries Ltd., FANUC Ltd., Epson America Inc., Denso Corp., and Daihen Corp. are some of the major players functional in the global industrial robotics market.