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Industrial Robot Market Set To Reach $32.8B by 2017

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According to a new report released by Markets and Markets in Dallas, Texas called “Industrial Robotics Market – Global Forecast & Analysis by Applications, Functions, Product & Geography (2012 – 2017)”, the total industrial robotics market is expected to reach $32.8 billion by 2017 at a compound annual growth rate (CAGR) of 5.0% from 2012 to 2017.

The global market of industrial robotics is estimated to be worth $25.71 billion in 2012 and expected to reach $32.8 billion in 2017 at a CAGR of 5% from 2012 to 2017. In terms of unit shipments, it is estimated to ship 176,586 units in 2012 and 234,122 units in 2017, at a CAGR of 5.8% from 2012 to 2017. 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 market.

Industrial robotics started its journey with automotive applications; but of late, it has made its way into non-automotive industries’ manufacturing facilities as well. As the employers struggle to find skilled people to fill positions, robots can help to shift the human resources out of jobs that do not use their ability to the fullest. Industrial robots have proven to deliver a host of benefits in a wide variety of applications like welding & soldering, handling of materials and processing, assembling & disassembling, dispensing and painting, cutting, milling and other processing, and the other functions. The most articulated robots perform by storing a series of positions in memory, and moving to them at various times in their programming sequence. Vision guidance (aka machine vision) is bringing a lot of flexibility to robotic cells.

According to the report, the misconception among employee unions of increasing unemployment with the installation of industrial robotics in manufacturing facilities is due to lack of awareness, inaccurate cost justification given by management of companies, and constant additional training costs.

Outside of Japan, Western Europe and North America, the robotics industry is on fruitful ground for growth from 2012 onwards, led by growing economies like South Korea, China, India, and Brazil.

Link: http://www.marketsandmarkets.com/Market-Reports/Industrial-Robotics-Market-643.html