Urology Surgical Market: Industry Research Report 2018-2025 Industrial Robotics Market | Page 2

Industrial Robotics Market Publication Month: Feb 2018 | No. of Pages: 367 | Report Code: TIPTE100000635 | Category: Electronics and Semiconductor Introduction: Global industrial robotics market is expected to grow from US$ 16,847.6 million in 2017 to US$ 48,166.9 million by 2025 at a CAGR of 14.2% between 2018 and 2025. The market for industrial robotics is at its growing phase in certain countries and at infant stage in some developing countries. The market is further expected to flourish with increasing government support for automation in industries including, industrial robotics across the globe. One of the key factor propelling the market growth for industrial robotics is constantly aging population of several countries worldwide resulting in increasing labor costs. As per WHO, approximately 2 Bn people globally are anticipated to be more than 60 years old by 2050, which is over triple of what it was in 2000. Diminishing fertility rates and longer lifespans are the major factors contributing to this growth. Further, increasing support from governments is also bolstering the growth of the market. For instance, Chinese government announced a five-year ‘Robotics Industry Development Plan’ for the expansion of China’s industrial robotics sector. The government is offering considerable subsidies and tax breaks for industrial automation. E-Mail : [email protected]