Industrial robotics market could reach $12.74 billion by 2020
According to a report published by IndustryARC, the industrial robotics market is estimated to reach $12.74 billion by 2020 at a high compound annual growth rate.
Industrial robots are mostly used for handling materials, welding, dispensing, processing, and assembly of parts. Some of the main industrial robots which are applied across key industries are Cartesian, SCARA, Articulated, Cylindrical, 6-axis and Linear.
Increased investments in this automotive industry are adding to this growth, as robotics can assist heavily with production and processing. Between 2010 and 2014, investments in the automotive industry grew by an average of 22 percent per year. The growing metal and machinery industries are also contributing.
IndustryARC’s report is a study of demand and supply trends in industrial robots across various global areas: the Americas, Europe, Asia-Pacific, and the rest of the world. It is segmented by type, application, and end use. Nations such as China, Japan, and South Korea are the biggest end users of robotics, utilising them for major automotive assembly. Future markets for robotics are expected to be India, Taiwan, and other South East Asian countries.
Aside from the automotive sector, other types of business also strive for optimisation in their operations, with food and medicines among them. Automation is increasing in these industries in order to process vast amounts of raw materials, and keeping on top of technological advancements is essential.