Allied Market Research has published a latest report on the global industrial robotics market opportunity analysis and forecasts. According to the findings of the study, the global industry is expected to grow at a CAGR of 5.4% throughout the forecast period 2013–2020.
The net market size in terms of revenue is expected to reach worth $41.17 billion by 2020. In 2012, the global industrial robotics industry was valued at $26.78 billion. Analysts review the trends and impacting factors over a range of geographies and nested segments during the study period 2012–2020, where 2012 marks as the base year for estimations.
The global industrial robotics market report introduces the nuances of the industry through simple definitions of terminologies. It builds an in-depth understanding of the market structure and essentials among the readers. It is segmented based on types, functions, vertical industries, and geographies for further detailing. Based on types of industrial robotics, the report is classified into articulated robots, cylindrical robots, SCARA robots, and Cartesian robots. The application industries covered within the scope of this study includes automotive, electrical & electronics, chemical, rubber & plastics, machinery, metals, food & beverages, and precision & optics. Among the various functions that the industry robotics serve in the respective application areas, the study discusses the major ones such as soldering and welding, materials handling, assembling & disassembling, painting & dispensing, milling, and cutting & processing. Based on the geographical regions assessed, North America, Europe, Asia Pacific gain primary focus.
The Global Industrial Robotics Market Revenue to Double During 2013–2020
The global industrial robotics market report presents the qualitative and quantitative trends as observed within the industry channels in a comprehensive format. The study projects articulated robots to have made the largest revenue contribution of $12.97 billion during 2012. This is majorly attributed to the increase in use of automated robots for the packaging and healthcare product manufacturing. Among the other types available, the market for cylindrical robots as well as the customized and refurbished robots is expected to grow at a remarkable rate in upcoming future owing to an increase in demand from the industrial sector across Asia-Pacific. According to the projections made, cylindrical robot segment is estimated to grow at a CAGR of 6.5%, while the other types would register a collective CAGR of 7.5% over the forecast period.
Out of the application areas considered for study, the automotive industry segment is observed to mark its dominance during 2012, with a net market share of $7.37 billion. However, it is expected to register a comparatively slower pace of growth owing to expected dip in demand from the automotive industry. The food & beverages segment is expected to register the highest growth rate of approximately 6.9% through the forecast period. This would be mainly due to the expected rise in need for customized solutions to make the manufacturing processes faster. This trend would be more prominent in unexplored regions such as Brazil, Argentina, and South Africa. In regard to the different functional roles of industrial robotics, the materials handling segment is by far the largest in the market.
The global industrial robotics market report evaluates the present events to forecast the future stance of the industry proceedings. As per the present progressions, analysts expect industry robotics to be used in alternative application segments across the growing markets. Core business segments, such as electronics, that register a remarkable rate of global expansion have registered a significant penetration from the industrial robotics industry. Healthcare is yet another sector that has been projected to exhibit increased demand for the market’s products and solutions. In terms of emerging technologies, nanorobotics would gain increased importance in the field of industrial robotics. At present, it gains momentum in healthcare and similar niche markets. This is because the technology enables mixing of rightly proportionate compounds as per instructions, and results in decreasing lead time. This in turn aids the manufacturers reduce wastage and meet the consumer demand for medicines within stipulated time.
The global industrial robotics market report presents the growth patterns across various geographical avenues. In 2012, Asia-Pacific contributed the largest share of revenue, accounting for 49.45% of the total market share. Its leadership in this segment is attributed to the growth in number of countries, such as China, India, Japan, Taiwan, and Australia, that channelize heavy investments in research activities for infrastructure development. The rapid growth in automation demands over the recent past, coupled with reduction of duties on refurbished goods in Asia-Pacific fuels the growth of this market. Rapid growth in automation demands coupled with reduction of duties on refurbished goods also fuels the industrial robotics market growth. Similarly, North America and Europe collectively account for over one-third of the market share, as these regions continue their focus on research and development activities.