Rockville, Md.—Estimated to be worth $25.71-billion in 2012, the global industrial robotics market is expected to reach $32.8 billion in 2017, according to a new report.
According to the MarketResearch.com report, Industrial Robotics Market: Global Forecast & Analysis by Applications, Functions, Product and Geography, the industrial robotics market has fully recovered from recession levels with phenomenal growth in recent times.
The market is expected to grow at a relatively slower pace in the next five years, though numbers are projected to remain high.
In terms of unit shipments, it is estimated 176,586 units will ship in 2012 and 234,122 units in 2017, at a compound growth rate of 5.8 per cent from 2012 to 2017.
Growing non-automotive applications of industrial robotics, increasing use of industrial robots in emerging countries, and benefits like increased productivity and reduction in manufacturing costs are factors driving the industrial robotics market, according to the report.
The industrial robotics market research report aims to capture the market roadmap with market sizes, revenue forecasts, value chain, competitive landscape, leading players and their key developments, strategies and profiles.
The market is split into five regions: Americas; Europe; Japan; Asia-Pacific (APAC); and Rest of the World (ROW) for the geographic analysis of the market.