Industrial robotics market worth $40.08 billion by 2020

According to a new report by MarketsandMarkets the market for industrial robotics is estimated to reach $40.08 billion by 2020, at a CAGR of 5.2% from 2014 to 2020. The industrial robotics market is expected to grow at a relatively slow pace; it is driven by factors such as: the growing non-automotive applications of industrial robotics, increase in the use of industrial robots in emerging countries, increased productivity; and reduction in the manufacturing costs, achieved with the use of industrial robots.
The report presents the market trends, drivers, and challenges, and forecasts the market from 2014 to 2020, on the basis of type, component, function, industry, and geography.
Click here for more information about the report.

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