Industrial Robotics Market Growth and Segments,2014-2020 FMI | Page 3

Report
Description
Report Description
The new technological developments are making manufacturingindustry smarter in terms
of efficiency with minimizing defect, waste and downtime. In order to overcome the
limitations of traditional labour work in industries and enhance the capability of operators,
industrial robotics has been evolved. Installation of industrial robots also helps to gain
competitive advantage by making business process more dynamic. As defined by ISO
8373 standards the industrial robot is “an automatically controlled, reprogrammable,
multipurpose manipulator programmable in three or more axes”. Today, the Industrial
robots are increasingly being installed in various industry such as food and packaging,
automobile, electronics etc.
The global industrial robotics market is experiencing the robust growth with numerous
untapped opportunity. In 2013, the global industrial robotics market registered around
12% to 15% year on year growth which is expected to grow at same pace for the forecast
period. The factors driving the growth of global industrial robotics market are growing
automation to meet production demand, need for meeting the technology standard set by
government and industry associations and, increasing production capacity to anticipate
the future demand. The use of industrial robotics helps to achieve automation in
manufacturing process which is the major trend in global industrial robotics market.
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