Industrial Robotics Market Concentration Rate, Top 5
Manufacturers, Competitive Situation By 2020
“Industrial Robotics Market was estimated at USD 25.68 billion in 2013 and is
expected to reach USD 40.00 billion by 2020. Growing concerns to reduce
operational costs by many manufacturing companies is expected to drive the
global market growth. Industrial robots are designed to control and automate
processes.”
The global Industrial Robotics Industry was estimated at USD 25.68 billion in 2013 and is expected to reach USD
40.00 billion by 2020. Growing concerns to reduce operational costs by many manufacturing companies is
expected to drive the global market growth. Industrial robots are designed to control and automate processes
including testing, assembly, packaging, welding, product inspection and painting. Human errors can be
minimized, thereby increasing the process efficiency and reliability of the machinery. The growth of the market
can be majorly attributed to the adoption of automation through robotics that ensures quality production while
meeting market demand as well as the growing demand from small- and medium-scale enterprises in
developing countries. Rising labor costs in many mature economies including U.S. and UK is estimated to drive
the global robotics market.
Many heavy machinery manufacturers are expected to replace workforce with automation to reduce hiring
costs and increase overall production. Automation involves the installation of advanced technologies and
sensors, such as cloud communications and wireless, to monitor and control the entire facility throughout the
day. The prerequisite to comply with governmental regulations and to reduce costs has encouraged the use of
industrial robots in heavy industries market. For example, the average labor costs in China have been rising by
nearly 10% yearly. The use of robots in industries has helped to reduced workers idle time by 80% and save
more than 50% of the production cost, leading to significant cost savings.
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