The Industrial Robotics Market is estimated to hit $14.494 billion by 2023

According to the new market research report by IndustryARC titled “Industrial Robotics Market: By Size (2, 4, 6, 8 Inches); By Type (GaN on Sapphire, GaN on Si, GaN on SiC, GaN on GaN); By Products (Laser, LED, PSD, Others); By Industry (Automotive, Healthcare, Consumer Electronics, General Lighting, Military, Communication, Optical Storage, and Others); By Geography - Forecast (2018-2023)”, the market is set to spur due to increasing demand for industrial robotics.

Browse 65 Market Tables, 177 Figures spread through 230 slides and an in-depth TOC on “Industrial Robotics Market (2018 - 2023)”

Asia-Pacific continues to lead the market share during 2018-2023.
APAC is the largest market in 2017 with revenue of $5.66 billion led by the fast growing Chinese market. This segment is projected to grow to $7.37 billion by 2023 at a 4.6% CAGR as increased awareness and lowering costs drive the market. Whereas, Americas is projected to register highest growth rate of 4.8% CAGR followed by APAC and Europe. The economic outlook for Asia-Pacific region is favorable owing to the large economic developments in China and India. The APAC region is forecast to be the fastest growing market for industrial robotics. All the major global players have established their operations in this region. The region is composed of a large number of oil importers and supply chain participants.

Selected / Sample Analysis done in the full Report:
Among all the types, the Articulated Robot is dominating the market, which accounted for approximately 68% of the global revenue. This segment is projected to register highest revenue of $9.13 billion by 2023 from $7.51 billion in 2017 at 3.4% CAGR. Articulated robots have long reach, high speed and larger working envelope. These robots allow high level of functionality and are the most commonly used robots in next generation robotics. These robots are used in applications like pick and place tasks, handling jobs, thread fastening, soldering and other similar tasks requiring fast and precise automation.

Excerpts on Market Growth Factors Mentioned in the Full Report:

• The rising demand for applications of industrial robots in the welding and assembling applications especially in automotive industry is certainly the key driver of the global industrial robot market.
• The increase in labor costs and need for efficient production techniques in the developing countries are among the key drivers of the industrial robotics market.
• Advancement in technology combined with increasing need for robotic automation driven by fast, low cost and error free operation are the major drivers for this market.