SOURCE: Grand View Research, Inc.

Grand View Research, Inc.

April 11, 2016 05:30 ET

Global Industrial Robotics Market to Grow at a CAGR of 7.0% From 2014 to 2020: Grand View Research, Inc.

SAN FRANCISCO, CA--(Marketwired - Apr 11, 2016) - The global industrial robotics Industry was estimated at USD 25.68 billion in 2013 and is expected to reach USD 40.00 billion by 2020 owing to increased number of deployments in the manufacturing sector to simplify complexities and enhance productivity. Industrial robots are being increasingly used to simplify business activities including marketing, designing, selling, building, installing, maintaining and operating.

An increased emphasis has been laid on productivity index to sustain in the competitive environment of the manufacturing sector and achieve quality results is expected to drive the industrial robotics market. Increasing labor costs coupled with growing demand from automotive industry is anticipated to be a key driving factor in the industry.

Manual labor has eventually replaced with self-programming robots owing to the job efficiency and cost-effectiveness on account of their ability to sense environmental changes through integration of sophisticated sensors. Growing measures concerning safety rights of laborers are also expected to augment growth in the market.

Application of robots in non-automotive industries namely chemicals, food & beverages, electronics, and electricals have resulted in the development of new opportunities and prospects over the past few years. Increasing installation costs and lack of skilled labor are expected to pose a challenge for the companies.

Browse full research report with TOC on "Industrial Robotics Market Analysis by Product (Systems, Tags), and Segment Forecasts To 2020" at: http://www.grandviewresearch.com/industry-analysis/industrial-robotics-market 

In 2013, automotive robots contributed to the highest market share by volume. The market is projected to gain prominence over the forecast period on account of technological advancements and integration of artificial intelligence. Increasing demand from heavy machinery and food processing industries are also expected to have a positive impact on growth over the coming years.

Asia Pacific accounted for the largest market in 2013 on account of substantial investments by organizations to expand globally. Countries including Korea, Japan, and China have experienced significant growth owing to supportive government programs involving tax incentivisation, investments in skill management, and R&D funding while Singapore, Taiwan, and India are anticipated to have a high potential for growth.

Rising production capacities in North America coupled with the modernization of factories are expected to result in an increasing number of robotic installations. Significant investment in robotics by automotive industry players in Europe is projected to augment demand over the forecast period.

The industrial robotics market encompasses numerous Japanese suppliers namely Denso, Motoman and Fanuc. Europe comprises of specialized industrial robotics establishments including Kuka and Comau along with prominent corporations including BAE and ABB Systems.

New entrants are expected to emphasize on a particular application and find ways to diversify to cope with high capital cost. Initiatives including "Blue Competence" sustainability initiative by Anlagenbaue.V. (VDMA) and VerbandDeutscherMaschinen, which aims at achieving environmental sustainability through technological modernization, is expected to propel growth in the coming years.

Grand View Research has segmented the global wireless charging market on the basis of technology, application, and region:

  • Wireless Charging Technology Outlook (Revenue, USD Million, 2012 - 2022)
    • Inductive
    • Resonant
    • RF
    • Others
  • Wireless Charging Application Outlook (Revenue, USD Million, 2012 - 2022)
    • Automotive
    • Consumer Electronics
    • Industrial
    • Healthcare
    • Defense
    • Others
  • Wireless Charging Regional Outlook (Revenue, USD Million, 2012 - 2022)
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa (MEA)

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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