Industrial robotics is expected to be used in alternative application areas in growing markets. The key area such as electronics soldering robot, which is still growing at an increasing rate, has witnessed penetration of industrial robotics in a significant manner. Another key application that industrial robotics might find penetration is healthcare. Nanorobotics is gaining importance in the field of industrial robotics. It is gaining momentum in health care and other niche markets. Nanorobots help in mixing the right compound as per instructions and result in decreasing lead time, which in turn helps the company to meet the demand of these medicines from the consumer.
Among major robot types i.e. articulated robots, cylindrical robots, SCARA robots, and cartesian robots; articulated robots is the largest segment, accounting for $12.97 billion in 2012, owing to increasing usage of these robots currently in emerging industries such as packaging and healthcare sectors. However, cylindrical robots and other types of robots such as customized and refurbished robots are expected to grow at significant pace in the coming years due to their increasing demand in industrial sectors in Asia Pacific region. Cylindrical and other types of robots are estimated to grow at a CAGR of 6.5% and 7.5%, respectively, over the forecasted period.
The dominance of Asia Pacific is attributed to growth in number of countries such as China, India, Japan, Taiwan and Australia among others investing heavily in research and development infrastructure developments. Rapid growth in automation demands coupled with reduction of duties on refurbished goods has also fueled growth in the industrial robotics market. Similarly, North Americaand Europe collectively accounted for over one-third of the market share, as these regions have been continually focusing on research and development and have been using industrial robotics for the same.
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