According to a new report by Publisher,
titled "Industrial Robotics Market (Products, Functions, Applications and
Geography) - Global Analysis, Industry Growth, Trends, Size, Share,
Opportunities and Forecast - 2013 - 2020", the global industrial robotics market
is expected to grow at a CAGR of 5.4% during the forecast period from 2013 to
2020, reaching a market size of $41.17 billion in 2020. The market was valued
at $26.78 billion in 2012. Rapid growth in automation demands, coupled with
reduction of duties on refurbished goods in Asia Pacific region has fueled the
growth of this market. Industrial robotics is expected to be used in
alternative application areas in growing markets. The key area such as
electronics, which is still growing at an increasing rate, has witnessed
penetration of industrial robotics in a significant manner. Another key
application that industrial robotics might find penetration is healthcare.
Nanorobotics is gaining importance in the field of industrial robotics. It is
gaining momentum in health care and other niche markets. Nanorobots help in
mixing the right compound as per instructions and result in decreasing lead
time, which in turn helps the company to meet the demand of these medicines
from the consumer.
Among major robot types i.e. articulated
robots, cylindrical robots, SCARA robots, and cartesian robots; articulated
robots is the largest segment, accounting for $12.97 billion in 2012, owing to
increasing usage of these robots currently in emerging industries such as packaging
and healthcare sectors. However, cylindrical robots and other types of robots
such as customized and refurbished robots are expected to grow at significant
pace in the coming years due to their increasing demand in industrial sectors
in Asia Pacific region. Cylindrical and other types of robots are estimated to
grow at a CAGR of 6.5% and 7.5%, respectively, over the forecasted period.
Based on industries served, the market
is segmented into automotive industry, electrical & electronics, chemical,
rubber & plastics, machinery, metals industry, food & beverages,
precision & optics, etc. Among these, automotive industry segment dominated
the market in 2012 at $7.37 billion. However, the segment is expected to
witness low growth owing to slow down in the automotive industry. The food and
beverages segment is expected to witness highest growth rate of 6.9% over the
forecast period owing to rising food and beverages industry. Moreover, the
rising need and customized solutions to make the process faster especially in
unexplored regions such as Brazil, Argentina, and South Africa is expected to
drive the growth in food and beverages industry.
On the basis of functions performed by
such robots, the market is segmented into soldering and welding, materials
handling, assembling & disassembling, painting and dispensing, cutting and
processing, milling, and others,. Materials handling is the largest segment by
function in the industrial robotics market.
In 2012, Asia Pacific was the largest
revenue generator that accounted for 49.45% of the total market share. The
dominance ofAsia Pacific is attributed to growth in number of countries such as
China, India, Japan, Taiwan and Australia among others investing heavily in
research and development infrastructure developments. Rapid growth in
automation demands coupled with reduction of duties on refurbished goods has
also fueled growth in the industrial robotics market. Similarly, North
Americaand Europe collectively accounted for over one-third of the market
share, as these regions have been continually focusing on research and
development and have been using industrial robotics for the same.
Know
more about this report at : - http://mrr.cm/ZAQ
Find all Robotics Reports at: http://www.marketresearchreports.com/robotics
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