Industrial robotics market projected to reach more than $70 billion by 2023
The industrial robotics market is forecast to reach beyond $70 billion by 2023, according to a new report.
The main drivers for the industrial robotics market are increasing investments for automation in various industries and the growing demand from small and medium-scale enterprises in developing countries.
The study by Markets and Markets looks at different types of industrial robots, including:
- articulated;
- cartesian;
- SCARA;
- parallel; and
- collaborative robots.
It also looks at various sectors of industry, including:
- automotive;
- electrical and electronics;
- metals and machinery; and
- pharmaceuticals and cosmetics.
It also analyses various geographies.
Currently, the market for industrial robotics is said to be around $40 billion, with the leading companies being Kuka, ABB, Mitsubishi, Fanuc, Kawasaki, Yaskawa Motoman, Seiko Epson, Denso, Comau, Daihen, Omron, and Universal Robots, among others.
For more information, check out the industrial robots briefing by Robotics and Automation News.
