LONDON--(BUSINESS WIRE)--Technavio has published a new report on the global robotics market, which is expected to grow at a CAGR of over 26% from 2015-2019.
About the Report
According to the new report by Technavio, industrial robotics marked its initial foray in the manufacturing industry with the help of automotive applications. However, in recent times, it has started establishing its presence in non-automotive manufacturing industries such as food and beverage and electrical and electronics.
“The incorporation of robotics in the assembly line has enabled manufacturers to create high-quality goods at competitive rates on a consistent basis. Thus, the increased demand for industrial robotics from non-automotive industries is expected to drive market growth during the forecast period,” says Faisal Ghaus, Vice President of Technavio.
The latest report by Technavio also highlights the advent of visual robotics systems, which has more flexibility in movement and decreases the overall cost.
“Cutting costly movement and conveyor systems and supplementing them with low-cost, versatile, and canister picking robots is fast gaining popularity among manufacturers and warehouse operators,” says Ghaus.
Market Scope and Calculation of Market Size
The new Technavio report covers the present scenario and growth prospects of the global robotics market from 2015-2019. To calculate the market size, the report considers the number of robots shipped globally. The report also presents the vendor landscape and a corresponding detailed analysis of the major vendors operating in the market.
Key Information Covered in the Report:
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Key Vendors:
- ABB
- KUKA
- Fanuc
- Yaskawa Electric
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Market Growth Drivers:
- Increased demand from non-automotive applications
- For a full detailed list, view our report.
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Market Challenges:
- Reluctance to migrate to latest technologies
- For a full detailed list, view our report.
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Market Trends:
- Increased adoption of Chinese robots
- For a full detailed list, view our report.
Technavio currently has more than 3000 market research reports on a huge range of topics, including 300+ reports on the robots market:
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