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 -
- Automation growth
- Reduction in duties for refurbished goods
Sectors that would work positively for Industrial Robotics Market -
Important type of robots are -
- Articulated robots
- Cylindrical robots
- SCARA robots
- Cartesian robots
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 -
- Automotive industry
- Electrical & electronics
- Rubber & plastics
- Metals industry
- 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
- Materials handling
- 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.