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Industrial Robotics Market

Industrial Robotics Market by Type, End user, Function and Geography.Market is driven by factors such as surge in labor charges worldwide from 2017 to 2023.

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Industrial Robotics Market

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  1. Global Opportunity Analysis and Industry Forecast, 2017-2023 Industrial Robotics Market To Reach $70,715 Billion By 2023 | CAGR 9.4

  2. Industrial Robotics Market Overview: • he 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. • Global Industrial Robotics Market is majorly driven by a surge in labor charges worldwide, which in turn has enforced manufacturers to replace human labor with machines. Asia 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. • Download Sample Report: • The global industrial production output is expected to witness moderate growth during the forecast period. The demand for industrial robotics is majorly observed in industries such as automobiles and heavy engineering. However, increased need for automation in non-conventional areas, such as microelectronics, has increased the demand of industrial robotics. Hence, an auxiliary channel utilizing industrial robotics has surfaced in the recent years. The heavy engineering sector is also responsible for the increased demand of industrial robotics.

  3. Rapid Industrialization And Automation • Increase in demand for automation and rapid growth in industrialization foster the use of industrial robots. Increased adoption of these robots in automotive, food & beverages, machinery, and precision & optics industries for automating processes, which leads to increased efficiency, reduced human errors, and enhanced safety of the workforce, has been observed. Some painting and pick & place functions are carried out by robotic arms, which reduce complexity and possibility of errors. Surveillance & security have improved due to the implementation of drones. Industrial robots deliver high-quality products and services, increase the capabilities of manual labor in terms of efficiency, provide better customer services, and efficiently manage processes.

  4. Key Benefits:

  5. Industrial Robotics Market Key Segments: • The industrial robotics market is segmented based on type, industry, function, & geography.

  6. Key Market Players • 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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