Industrial Robotics Market Worth USD 40 Billion by 2020: Grand View Research, Inc.

The global industrial robotics market is expected to exceed USD 40 billion by 2020, according to a new study by Grand View Research, Inc. Increased demand from the automotive industry, coupled with growing labor costs has consequently encouraged industrial robots’ deployment in manufacturing. Increased emphasis on production quality in order to ensure survival in the competitive manufacturing sector is expected to drive the industrial robotics market. Growing measures pertaining to laborers’ safety have resulted in substitution of manual labor in industries by robots, thereby augmenting industrial robotics demand.

Growing adoption of robots in non-automotive applications such as electronics, chemicals, and food & beverages has opened up new avenues for industrial robotics in recent years. High installation costs may make industries in developing markets circumspect about the adoption of robots, which may hinder market growth. Unavailability of skilled labor and technicians is expected to pose a challenge to companies operating in the market.

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