Industrial robotics market likely to reach $41.17 billion globally by 2020

An article published on September 8th, 2015 in the Control Engineering Asia magazine (http://www.ceasiamag.com/2015/09/industrial-robotics-marketT-likely-to-reach-41-17-billion-globally-by-2020/) describes how the industrial robotics market is expected to grow at a compound annual growth rate (CAGR) of 5.4% globally from 2013 to 2020 and will reach a market size of $41.17 billion in 2020. The market size in 2012 was $26.78 billion, but the reduction of duties on refurbished goods in the Asia Pacific and rapid growth in automation demands are causing the increase in the market. The use of industrial robotics in alternative applications is expected to grow such as in the electronics and healthcare industries. Among the different types of robots- articulated, cylindrical, SCARA, and Cartesian- articulated had the largest share of the market in 2012 at $12.97 billion. Although cylindrical robots are expected to grow at a faster pace at a CAGR of 6.5% through 2020. The robotics market is also segmented into many different industries including the automotive, electrical/electronics, metals, chemical, rubber and plastics, machinery, food and beverage, and a variety of others. Of these industries, the automotive sector had the largest share in the market in 2012 at $7.37 billion. However, the food and beverage industry is expected to see the highest growth rate at a CAGR of 6.9% through 2020. Lastly, robots are segmented by the function that they perform including soldering and welding, material handling, assembling, disassembling, painting, cutting, milling, etc . Of these functions materials handling had the largest section of the market. What is the future of the industrial robotics industry? What industry benefits the most from robotics? How would you justify the costs of a robot? Will there eventually be more robots in industry than humans?

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