Portland, Oregon (PRWEB UK) 3 June 2014
Research beam recently published a report titled "Industrial Robotics Market (Products, Functions, Applications and Geography) - Global Analysis, Industry Growth, Trends, Size, Share, Opportunities and Forecast - 2013 – 2020."
The report expects the global industrial robotics market to reach $41.17 billion in 2020 with a CAGR of 5.4% during 2013 to 2020.
To view the complete report, see at http://www.researchbeam.com/industrial-robotics-market.
Reduction of refurbished goods and automation needs are driving the Industrial robotics market. Electronics market would witness larger application of industrial robotics; similarly, nanorobotics and healthcare sectors are also adopting industrial robotics.
Robots are segmented into articulated robots, SCARA robots, cylindrical robots, and cartesian robots. Articulated robots was maximum revenue generator with a value of $12.97 billion in 2012 due to their greater application in healthcare and packaging industries. However, other types of robots, especially cylindrical robots would grow impressively during the analyzed period, owing to rising demand in Asia Pacific.
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In terms of industrial usage, industrial robotics market is segmented into automotive industry, electrical & electronics, chemical, rubber & plastics, machinery, metals industry, food & beverages, precision & optics, etc. Automotive segment attained a market value of $7.37 billion in the year 2012. The report suggested that automotive market would witness a slower growth during the estimated period. However, food and beverage industry is expected to grow fastest with a growth rate of 6.9%.
On functional terms, the industrial robotics market is divided on the basis of soldering and welding, materials handling, assembling & disassembling, painting and dispensing, cutting and processing, milling, and others.
In 2012, Asia Pacific was leading the global market with a share of 49.45% in the overall industrial robotics market. This can be credited to high investments in Research and Development by countries such as Australia, China, Japan, and Taiwan.
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