Industrial Robotics Market May Hit $41 Billion By 2020

According to a report by Allied Market Research, the industrial robotics market was valued at $27 million in 2012, and is likely to reach $41 billion by 2020, growing at a CAGR of 5.4% from 2013 to 2020. The articulated robots segment accounted for $13 billion in 2012 in the industrial robotics market, owing to increased usage of these robots in the emerging industries such as packaging and healthcare sectors. However, cylindrical robots and other types of robots, such as customized and refurbished robots, may grow at a significant pace in the coming years, owing to their increased demand in the industrial sectors of the Asia-Pacific region. The cylindrical and others segments could grow at CAGRs of 6.5% and 7.5%, respectively, during the forecast period.

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