May 6 2013
Research and Markets has announced the addition of the "Global Articulated Robot Market 2012-2016" report to their offering.
TechNavio's analysts forecast the Global Articulated Robots market to reach US$24.26 billion by 2016. One of the key factors contributing to this market growth is increasing need for automation processes. The Global Articulated Robots market has also been witnessing developing next-generation articulated robots.
Commenting on the report, an analyst from TechNavio's Engineering team said: "The Global Articulated Robots market vendors are witnessing huge potential for customized robots among manufacturing industries. Many Manufacturing industries prefer application-specific robotic systems, and therefore, the vendors are offering application-specific articulated robots to the manufacturing companies. For instance, automotive companies prefer articulated robots specific to assembling applications, as this is one of the core competencies of automotive companies. Therefore, the vendors need to provide unique articulated robots as per the company's requirement. Thus, many vendors are developing customized robots, which help vendors to create a competitive edge over the competitors in the market."
According to the report, one of the major growth drivers in the market is the increasing need for automation processes. Manufacturing companies depend on articulated robots to tackle the challenges of labor shortages and a rise in labor costs.
Source: http://www.researchandmarkets.com/