Industrial robotics is a market that has been growing steadily for some time now, and a recent report suggests that it’s not going to slow down any time soon. The report released by Transparency Market Research (TRM) suggests that the global market for industrial robotics will grow substantially over the next few years.
According to the TRM report, the global industrial robotics market was valued at $28.93 million in 2013. The same report predicts the global industrial robotics market to reach $44.48 billion dollars by 2020. Yes, that’s billion with a “b”. This explosion in growth seems almost impossible, but regardless of whether or not the robotics market hits the $44 billion mark or not, the prediction goes to show just how important industrial robots already are, and how they will become even more important in the future.
So what’s the cause for this tremendous growth in industrial robotics? The report suggests a few possible contributors.
More companies and businesses making use of industrial robots. It’s no longer just massive corporations with big bank rolls that are putting industrial robots to use. Medium and small sized companies are also finding ways to incorporate industrial robots.
There are a couple of reasons that industrial robots are being used more frequently by smaller companies. The increased versatility of robots means that there are more jobs that those robots are capable of doing, and the fact that robots are becoming more affordable makes them a more enticing option.
Rising labor costs are another reasons that more companies are looking towards industrial robots. As wages increase so does the appeal of cost-effective robots.
The number of investments in robotics technologies, and the amount that is being invested, is leading to some incredible advancements in the field. Companies and countries alike are recognizing the importance of robotics and automation for the future and are investing in the technologies accordingly.
Robotics are being incorporated in industries outside of manufacturing. For a long time, automation and robotics were used primarily in manufacturing. But as other sectors continue to implement robotics, new technologies emerge and are implemented in industrial robotics.
$44. 48 billion by 2020 seems like a pretty lofty prediction, but you certainly cannot dispute the importance of industrial robotics.