Reports and intelligence includes a new report titled "Industrial Robotics Market (Products, Functions, Applications and Geography) - Global Analysis, Industry Growth, Trends, Size, Share, Opportunities and Forecast - 2013 – 2020."
The report analyzes the global industrial robotics market to touch a market figure of $41.17 billion in 2020, registering a CAGR of 5.4% from 2013 to 2020. Growing need for automation and reduced duties on refurbished goods in Asia Pacific has boosted the market growth.
The alternative application sector, especially in the growing market is expected to utilize industrial robotics largely. Further, industrial robotics has been successful in entering the electronic markets. A new significant application that would utilize industrial robotics is healthcare; while Nanorobotics is garnering significance in the field of industrial robotics.
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The main robot types include articulated robots, cylindrical robots, SCARA robots, and Cartesian robots, among which, articulated robots holds the largest share with a revenue of $12.97 billion in the year 2012, due to its increasing application in the emerging industries such as healthcare and packaging. However, the report expects cylindrical robots and other kind of robots, for example, refurbished and customized robots to grow at considerable rate in future due to their demand in Asia Pacific. Further, Cylindrical and other kinds of robots are forecast to register a CAGR of 6.5% and 7.5%, respectively.
In terms of industrial application, the market is divided into automotive industry, electrical & electronics, chemical, rubber & plastics, machinery, metals industry, food & beverages, precision & optics, etc. In the year 2012, the market was dominated by automotive segment; however, in coming years, it is expected to witness slower growth due to slow growth of automotive industry segment, globally. The report anticipates the food and beverages sector to foresee fastest growth rate of 6.9% during the analyzed period.
In terms of function, the report segments the market based on soldering and welding, materials assembling & disassembling, handling, painting and dispensing, milling, cutting and processing, and others. Materials handling is the largest segment by function in the industrial robotics market.
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With a share of 49.45%, Asia pacific generated maximum revenue in the year 2012. The growth of Asia Pacific region is due to growing research and infrastructure in countries such as China, Japan, Taiwan, India, and Australia. Europe and North America also account for one third of the total market share.
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