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Industrial Robotics Market Worth $41.23 Billion by 2020 | CAGR: 7.0%: Grand View Research, Inc.SAN FRANCISCO, June 11, 2018 /PRNewswire/ -- The global industrial robotics market size is anticipated to reach USD 41.23 billion by 2020, according to a new report by Grand View Research, Inc., expanding at a CAGR of 7.0% during the forecast period. Rapid expansion of the automotive industry worldwide and growing adoption of robotics in the non-automotive industry including food & beverage, chemicals, rubber & plastics, and electronics/electrical are stoking the growth of the market. (Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg ) Companies implementing industrial robots are increasingly realizing substantial financial benefits, which is leading to a surge in installation of robots in contemporary manufacturing plants. Integration of robots with production processes help boost productivity, minimizes overheads, offers a high degree of flexibility, increases quality, and reduces waste to a large extent as compared to outcome of manual labor, which consequently propels the market. Industrial robots have been responsible for the formation of a new ecosystem characterized by lucrative, rewarding, and high-paying jobs. Venture capitalists have opened up to funding companies designing and manufacturing industrial robots. Advancements in artificial intelligence and development of sophisticated sensors are projected to augment the development of self-programming robots. Browse full research report with TOC on "Industrial Robotics Market Size, Share & Trends Analysis Report By Application (Automotive, Food, Chemical, Rubber & Plastics, Electrical/Electronics, Heavy Machinery), By Region, And Segment Forecasts, 2012 - 2020" at: https://www.grandviewresearch.com/industry-analysis/industrial-robotics-market Further Key Findings From the Report Suggest:
Grand View Research has segmented the industrial robotics market report into application and region.
- North America
- Europe
- Asia Pacific
- Rest of World Explore the BI enabled intuitive market research database, The Grand Library, by Grand View Research, Inc. About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. Contact: Web: https://www.grandviewresearch.com |