Global robot market forecast to increase 10.5% annually to 2016 reveals report: Report Buyer

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The market is forecast to hit to $20.2 billion by 2016.

Report Buyer

According to findings from the study World Robots: Industry Study with Forecasts for 2016 & 2021, global demand for robots is forecast to increase almost 11% annually to 2016, The market is forecast to hit to $20.2 billion by 2016, outpacing both the world's economy and overall manufacturing activity.

The 289 page report states that robots can perform certain tasks faster and more accurately than humans can, which increases productivity and helps reduce overall costs. In developed countries, which tend to have higher labour costs, robots are often used to replace human workers. In developing countries, which usually have an abundance of low cost labour, robot use is more concentrated in tasks that are difficult or dangerous for human workers. However, as wages rise in developing countries, the use of robots to replace human workers will increase, especially as advantages in end product quality and worker safety become more apparent.

The industrial sector has been a significant user of robots for a few decades now, while the service sector has only become significant robot users since the middle of the first decade of the 2000s. To 2016 and beyond, service robots will lead growth as lower costs and the increasing sophistication of robot technology and software make these products more appealing to a broader range of consumers.
View the Report: World Robots: Industry Study with Forecasts for 2016 & 2021

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