Automation has a new meaning with Industrial Robotics
28 May 2014
Industrial robotics is a concept that includes application of robotics technology in the field of manufacturing, for example, painting, ironing,welding, assembly, palletizing etc. With the help of robots in manufacturing, the task is completed with high speed and accuracy. With increasing technological strides, robotics is garnering significance. Rising demand for quality and mass production would make industrial robotics the future of manufacturing, There was a recent research undertaken on the global industrial robotics market by allied market research. The report forecasts the market to attain a value of $41.17 billion by 2020, registering a CAGR of 5.4% during 2013-2020.
What are the driving factors of the market -
Reduction in duties for refurbished goods
Sectors that would work positively for Industrial Robotics Market -
Important type of robots are -
Among above robot types, articulated robots generated maximum revenue of $12.97 in the year 2012. However, with the growing demand of automation in Asia Pacific region, cylindrical robots are expected to grow very fast during the estimated period.
Major market segmentation includes -
Electrical & electronics
Rubber & plastics
Food & beverages
Precision & optics
Until 2012, automotive sector was leading the market in terms of revenue. However, due to slow down of automotive sector, it is expected to grow slowly. Food & beverages market would register a 6.9% growth rate during the analysis period.
Functional segmentation of Robots include -
Soldering and welding
Assembling & disassembling
Painting and dispensing
Cutting and processing
In terms of geographical analysis, Asia pacific was the maximum revenue generator with a global share of 49.45%. This can be credited to high investment by countries such as India, Taiwan and China.
Research Analyst at Allied Market Research
Ranjan has over 4 years of experience in market research and consulting across multiple domains which include technology, FMCG and durable consumer goods, heavy machinery, and automotive. He has hands on expertise in predictive and exploratory research projects for studying regional and global demand potential, market estimation & forecast, perceptions; analyzing macro and micro markets in terms of key gaps and opportunities. Ranjan is part of multiple consulting as well as syndicated report assignments and is actively involved in all the stages of project completion from planning, execution to delivery as per clients satisfaction.