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Opportunities and Forecast Report on Global Industrial Robotics Market

Nov 28 2014

Research and Markets has announced the addition of the "Global Industrial Robotics Market (Products, Functions, Applications and Geography) - Global Analysis, Industry Growth, Trends, Size, Share, Opportunities and Forecast - 2013 - 2020" report to their offering.

Based on industries served, the market is segmented into automotive industry, electrical & electronics, chemical, rubber & plastics, machinery, metals industry, food & beverages, precision & optics, etc. Among these, automotive industry segment dominated the market in 2012 at $7.37 billion. However, the segment is expected to witness low growth owing to slow down in the automotive industry. The food and beverages segment is expected to witness highest growth rate of 6.9% over the forecast period owing to rising food and beverages industry. Moreover, the rising need and customized solutions to make the process faster especially in unexplored regions such as Brazil, Argentina, and South Africa is expected to drive the growth in food and beverages industry.

On the basis of functions performed by such robots, the market is segmented into soldering and welding, materials handling, assembling & disassembling, painting and dispensing, cutting and processing, milling, and others,. Materials handling is the largest segment by function in the industrial robotics market.

In 2012, Asia Pacific was the largest revenue generator that accounted for 49.45% of the total market share. The dominance of Asia Pacific is attributed to growth in number of countries such as China, India, Japan, Taiwan and Australia among others investing heavily in research and development infrastructure developments. Rapid growth in automation demands coupled with reduction of duties on refurbished goods has also fueled growth in the industrial robotics market. Similarly, North America and Europe collectively accounted for over one-third of the market share, as these regions have been continually focusing on research and development and have been using industrial robotics for the same.