Industrial Robotics Market worth $40.08 Billion by 2020, According to a New Study on ASDReports

Wednesday 8 October 2014, Amsterdam

According to a new market research report, now available on ASDReports, "Industrial Robotics Market by Type, Component, Function, Industry (Automotive, Electrical & Electronic, Chemical, Rubber, & Plastic, Metal & Machinery, Food & Beverages, Pharmaceutical, & Construction), & Geography - Analysis & Forecast to 2014 - 2020" the market for industrial robotics is estimated to reach $40.08 billion by 2020, at a CAGR of 5.2% from 2014 to 2020. This report includes an in-depth analysis of the market by type, component, function,industry, and geography.

The industrial roboticsmarket is expected to grow at a relatively slow pace; it is driven by factors such as: the growing non-automotive applications of industrial robotics, increasein the use of industrial robots in emerging countries,increased productivity; and reduction in the manufacturing costs,achievedwiththe use of industrial robots.

Industrial robotsare of various types and are also used for different functions such as welding, material handling, and packaging and palletizing. The material handling robot function holds the highest share in the industrial roboticsmarket currently. Thus, it shows that industrial robots not only have power and speed but also possessthe accuracy, dexterity, and sensitivity to handle materials; and the ability to process them as desired.

This report presentsthe market trends, drivers, and challenges with respect to the the industrial robotics market, and forecasts the market from 2014 to 2020, on the basis of type, component, function, industry, and geography. This global report gives a detailed view of the market across the four major geographies, namely the Americas, Europe, Asia-Pacific, and the RoW. The APAC dominates the market in terms of the market size, currently. All the major automotive manufacturing companies areinvesting immensely in the APAC region, thus attracting new players toward the market.

The competitive landscape of the market presents a very interesting picture. The market is witnessing new product launches and large scale collaborations, and agreements and partnerships across itsvalue chain, with a number of tier-one players around the globe.

The major players in industrial robotics market are FANUC Corp. (Japan),YASKAWA Electric Corp. (Japan), ABB Ltd. (Switzerland),KUKA AG (Germany), and Kawasaki Heavy Industries Ltd. (Japan),among others.