Jun 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.
According to the latest report titled "Industrial Robotics Market (Products, Functions, Applications and Geography) - Global Analysis, Industry Growth, Trends, Size, Share, Opportunities and Forecast - 2013 - 2020", the global industrial robotics market is expected to grow at a CAGR of 5.4% during the forecast period from 2013 to 2020, reaching a market size of $41.17 billion in 2020. The market was valued at $26.78 billion in 2012.
Rapid growth in automation demands, coupled with reduction of duties on refurbished goods in Asia Pacific region has fueled the growth of this market. Industrial robotics is expected to be used in alternative application areas in growing markets. The key area such as electronics, which is still growing at an increasing rate, has witnessed penetration of industrial robotics in a significant manner. Another key application that industrial robotics might find penetration is healthcare.