Industrial Controls And Robotics Market Is Expected To Reach USD 147.7 Billion Globally In 2019:

The global industrial robotic market is characterized by significant growth scope among emerging nations such as Brazil and India, finds Transparency Market Research (TMR) in a new report. The players in the market are offering customized robotic solutions to attract more customers and demand. Players are also focusing on innovation and some of the leading players are striving to offer complete industrial robot solutions including welding, material handling, and assembling. Players are increasingly participating in mergers and acquisition activities, which are helping them boost their market and product portfolio. Some of the key players in the market are: Kawasaki Robotics, Schneider Electric SA, Omron Corporation, Siemens AG, Rockwell Automation Inc, Invensys plc., and Mitsubishi Electric Corporation.

According to TMR, the global industrial robotics market is estimated to be worth US$147.7 bn by 2019. By end user industry, the automotive industry is anticipated to lead in the market. The semiconductor market segment is anticipated to emerge as the fastest expanding end user segment in the coming years. the need for absolute precision and a need for rapid production will be factors driving the adoption of industrial robots in the semiconductor market. On the basis of geography, Asia Pacific is anticipated to lead in the market. Countries such as China, Australia, India, and Japan are increasingly demanding industrial robots. The growing adoption of these robots in small and medium enterprises (SMEs) will bolster the demand for industrial robots in the region, says TMR.

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Enhanced Productivity to Spur Growth of Industrial Robotics Market

The growing need for enhanced productivity is one of the key factors fueling the growth of the global industrial robots market. The adoption of these devices helps decrease variable cost and reduce the manufacturing time. Thus, industrial robots are being preferred extensively across the manufacturing industry. The use of industrial robots to minimize errors and accidents of workers while performing hazardous tasks is another reason why they will witness high demand.

Customization of Industrial Robotics to Emerge as Growth Opportunity

On the other hand, the investment required to be made initially for setting up industrial robotics and controls is very high. “Also, another challenge faced by market players is the unavailability of cheap labor,” states a TMR analyst. Cheap labor is found in developing nations but not in other nations and this restricts the global expansion of industrial robotics market. However, there lies immense scope of growth in the market as customized industrial robotics becomes a trend. Also, the growth of small and medium scale enterprises in developing nations will serve as growth opportunity.

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The market is driven by its growing use in application areas of discrete and process industries i.e. automotive, power, pharmaceutical, and semiconductors industries. Also, increased productivity of manufacturing companies, growing demand for customized products, and need for improved efficiency and precision are the factors encouraging deployment of these systems in the industries.

High initial investment, availability of low cost labors in emerging countries such as India, China, Indonesia, and need for skilled labors to operate the robots are some of the factors inhibiting growth of industrial controls and robotics market.

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

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This release was published on openPR.