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The industrial robotics market has fully recovered from the recession and has been experiencing phenomenal growth in recent times. The market is expected to grow at a relatively slower pace in the next five years; driven by factors like growing non-automotive applications of industrial robotics, increasing use of industrial robots in emerging countries, and benefits like increased productivity and reduction in manufacturing costs, cherished from the use of industrial robots.
The industrial robotics market segmentation revolves around the four major market parameters; namely products, applications, functions, and geography.
The global industrial robotics market is estimated to be worth $25.71 billion in 2012 and by 2017 this value is expected to reach $32.8 billion, at a CAGR of 5% from. In terms of unit shipments, it is estimated to ship 176,586 units in 2012 and 234,122 units in 2017, at a compound grow rate of 5.8%.
Growing non-automotive applications of industrial robotics, increasing use of industrial robots in emerging countries, and benefits like increased productivity and reduction in manufacturing costs are certain factors driving the industrial robotics market.
Outside of Japan, Western Europe and North America, the industrial robotics market will be a rewarding ground for growth from 2012 onwards, led by growing economies like South Korea, China, India, and Brazil.
For more information on the industrial robotics market, see the latest research: Industrial Robotics Market Report
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