Portland, OR -- (ReleaseWire) -- 07/02/2014 --The report scrutinizes the worldwide industrial robotics market to touch a market figure of $41.17 billion in 2020, enlisting a CAGR of 5.4% from 2013 to 2020. Developing requirement for automation and lessened duties on repaired goods in Asia Pacific has helped the market development tremendously.
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The alternative application sector, particularly in the developing market is relied upon to use industrial robotics to a great extent. Further, industrial robotics has been fruitful in entering the electronic markets. Another noteworthy application that would use industrial robotics is healthcare; while Nanorobotics is gathering significance in industrial robotics field.
The principle robot types incorporate articulated robots, cylindrical robots, SCARA robots, and cartesian robots, among which, articulated robots holds the biggest share with an income of $12.97 billion in the year 2012, owing to its expanding application in the rising businesses, for example, healthcare and packaging. Be that as it may, the report expects cylindrical shaped robots and other sort of robots, for instance, customized and refurbished robots to develop at impressive rate in future due to their increasing application in Asia Pacific.
Regarding industrial application, the market is divided into automotive industry, electrical & electronics, chemical, rubber & plastics, machinery, metals industry, food & beverages, precision & optics, and so forth. In the year 2012, the market was overwhelmed via automotive section; be that as it may, in impending years, it is relied upon to witness slower development because of moderate development of automotive industry, across the globe. The report foresees the food and beverages area to have speediest development rate of 6.9% throughout the estimated period.
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As far as function, the report sections the market into soldering and welding, materials assembling & disassembling, handling, painting and dispensing, milling, cutting and processing, and others. With 49.45% share, Asia pacific generated maximum income in the year 2012. The development of Asia Pacific due to increasing improvements in infrastructure and increasing R&D in nations, for example, China, Japan, Taiwan, India, and Australia.
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Global Industrial Robotics Market (Products, Functions, Applications and Geography) - Reports and Intelligence
Reports and intelligence includes a new report titled "Global Industrial Robotics Market (Products, Functions, Applications and Geography) - Global Analysis, Industry Growth, Trends, Size, Share, Opportunities and Forecast - 2013 – 2020."