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Global Industrial Robotics Market Propelled by Rising Popularity of Automation

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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:

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

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.

  • The material handling robots segment is leading the global industrial robotics products market at present.
  • The automotive industry emerged as the biggest consumer of industrial robots in 2013. However, the segment is likely to lose its market share, owing to the decrease in industrial production activities.
  • Analysts expect the construction industry to report the highest demand for industrial robots in the coming years.
  • The rapid rise of the construction industry, triggered by increased infrastructural development across the world, is likely to fuel the demand for industrial robots in this industry.
  • Asia Pacific leads the global market for industrial robotics with a majority share.
  • This regional market is projected to maintain its dominance in the near future on account of extensive infrastructural development in emerging economies such as Australia, Japan, India, and China.
  • Europe and North America collectively accounted for more than 20% of the overall revenue generated in this market in 2013. Both the regional markets are anticipated to witness moderate growth in their market shares in forthcoming years.
  • Mexico is expected to emerge as the most attractive industrial robotics market in North America in the near future.

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.