Global Industrials Robotics Market report published by Accurize Market Research forecast that the global market is expected to reach $77.7 billion by 2024; growing at a CAGR of 9.5% from 2017 to 2025. By geography, Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
Upsurge in demand for automation in numerous industries, growing robotics & artificial intelligence (AI) industry, and reduction in custom dutiesto drive the growth of the market
Upsurge in demand for automation in numerous industries, growing robotics & artificial intelligence (AI) industry, and reduction in custom duties fuel the demand for global industrials robotics market. Furthermore, high usage of industrial robotics in the manufacturing industry and growing innovations globally also boosts the growth of the market.
The global industrials roboticsmarket has been bifurcated on the basis oftype, industry vertical, function, and geography. By type, the segmentations include articulate, Cartesian, SCARA, cylindrical, and other types. By industry vertical, the market is segmented as chemical, rubber & plastics, machinery, metals, food & beverages, automotive, electrical & electronics, precision & optics, and other industry verticals. By function, the market is segmented into assembling & disassembling, painting & dispensing, soldering & welding, materials handling, milling, cutting & processing, and other functions.
By geography, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW).The U.S., Canada, and Mexico are covered under the North America market whereas Europe consists of UK, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
Top players in the market
The key players operational in the market includes Kawasaki Heavy Industrials Ltd., Denso Corporation, Epson America, Inc., KUKA Robotics Corporation Mitsubishi Electric Corporation, Panasonic Corporation, Yaskawa Electric Corporation, Diahen Corporation, Universal Robotics, , and Fanuc Ltd.among others.