The global robotics market has grown at a robust rate in the past few years. Two of the major growth factors have been the confluence of technological advancements and rising labour costs.
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Robotics refers to the branch of technology that deals with the design, construction and operation of a robot. This technology offers innumerable advantages such as flexibility, precision, consistency and increased production. With the technological innovations, robots have now become more advanced with better sensors, improved vision and faster processors. IMARC Group’s latest report, titled “Robotics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, finds that the global robotics market reached a volume of around 6.5 Million Units in 2016, growing at a CAGR of nearly 25% during 2009-2016.
Highlights of the Global Robotics Market:
A growing demand for smartphones and tablets has been witnessed in the past several years. This has supplemented the process of robot development, thus, augmenting the global demand for robots. Apart from this, a rising demand for robots in the medical, defence and entertainment industry is another force that is influencing the market growth. Several other factors like increase in disposable income, urbanisation and industrialisation rates, rising labour costs as well as expanding applications of robots are also catalysing the growth. According to the report, the market is further expected to reach a volume of more than 19 Million Units by 2022.
The market has been segmented on the basis of product type. Currently, service robots dominate the global robotics market accounting for the majority of the market share. On the basis of region, North America represents the largest market accounting for more than a third of the total global share. This can be attributed to the rapid adoption of new technologies coupled with increasing research and development investments in the region. The other major regions include Europe, Asia-Pacific, Latin America and Others. Some of the key players operating in the market are ABB Group, KUKA AG, FANUC Corporation and Yaskawa Electric Corporation.
Read full report with TOC @ www.imarcgroup.com/robotics-market
The report has examined the global robotics market on the basis of:
Product type:
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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- A growing demand for robots in the medical, defence and entertainment industry represents the primary growth driving factor.
- Service robots have the highest production, accounting for the majority of the market share.
- North America accounts for the majority of the global share, representing the largest market.
A growing demand for smartphones and tablets has been witnessed in the past several years. This has supplemented the process of robot development, thus, augmenting the global demand for robots. Apart from this, a rising demand for robots in the medical, defence and entertainment industry is another force that is influencing the market growth. Several other factors like increase in disposable income, urbanisation and industrialisation rates, rising labour costs as well as expanding applications of robots are also catalysing the growth. According to the report, the market is further expected to reach a volume of more than 19 Million Units by 2022.
The market has been segmented on the basis of product type. Currently, service robots dominate the global robotics market accounting for the majority of the market share. On the basis of region, North America represents the largest market accounting for more than a third of the total global share. This can be attributed to the rapid adoption of new technologies coupled with increasing research and development investments in the region. The other major regions include Europe, Asia-Pacific, Latin America and Others. Some of the key players operating in the market are ABB Group, KUKA AG, FANUC Corporation and Yaskawa Electric Corporation.
Read full report with TOC @ www.imarcgroup.com/robotics-market
The report has examined the global robotics market on the basis of:
Product type:
- Service robots
- Industrial robots
- North America
- Europe
- Asia-Pacific
- Latin America
- Others
- ABB Group
- KUKA AG
- FANUC Corporation
- Yaskawa Electric Corporation
Browse more reports on technology & media research @ www.imarcgroup.com/categories/technology-market-reports
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact us
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Email: sales@imarcgroup.com
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309 2nd St, Brooklyn, NY 11215, USA
Website: www.imarcgroup.com
Email: sales@imarcgroup.com
USA: +1-631-791-1145
Follow us on twitter: @imarcglobal
