Industrial Robotics Market Global Opportunity Analysis and Industry Forecast,

“The Global Industrial Robotics Market was valued at $37,875 million in 2016, and is projected to reach $70,715 billion by 2023, growing at a CAGR of 9.4% from 2017 to 2023” M ajorly driven by a surge in labor charges worldwide, which in turn has enforced manufacturers to replace human labor with machines A sia and Europe are the key growth regions of the world, with leading players, namely ABB, Fanuc, KUKA, Kawasaki, and the Yaskawa Electric Corporation being based out in the region T he demand for industrial robotics is majorly observed in industries such as automobiles and heavy engineering

Segment Overview T he “Articulated robots” segment accounted for the maximum share in the global industrial robotics market in 2016, owing to increased usage of these robots in the packaging and healthcare sectors of the emerging economies T he “Cylindrical robots” and others segment comprising customized and refurbished robots, are expected to grow at a significant pace in the near future, owing to their increasing demand in industrial sectors in the Asia- Pacific region T he Automotive industry, the largest end user of industrial robots T he food and beverages segment is expected to witness the highest growth rate in the near future, owing to spiraling food and beverages industry across the globe

Segment Overview T he industrial robotics market is segmented based on function into soldering & welding, materials handling, assembling & disassembling, painting & dispensing, milling, cutting, & processing function, and others I n the functions segment, materials handling subsegment contributed the highest revenue in the global industrial robotics market T he Asia-Pacific region generated the highest revenue in the global industrial robotics market in 2016

TOP IMPACTING FACTORS Increase in demand for automation and rapid growth in industrialization foster the use of industrial robots labor wages are on the rise in the American and European markets, and Asia-Pacific is also expected to witness an upsurge in labor costs during the forecast period

Key players in the Industry: Daihen Corporation Denso Corporation Epson America, Inc. Fanuc Ltd. Kawasaki Heavy Industries Ltd. KUKA Robotics Corporation Mitsubishi Electric Corporation Nachi Robotic Systems, Inc. Panasonic Corporation Universal Robotics Yaskawa Electric Corporation

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