Industrial Robots Market to Reach $48.9 Billion by 2021

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Research and Markets has announced the addition of Wintergreen Research, Inc's new report "Industrial Robots: Market Shares, Strategies, and Forecasts, Worldwide, 2015 to 2021" to their offering.

Markets are expected to rise 11.5% annually through 2021. Industrial robot markets at $22 billion in 2014 are anticipated to reach $48.9 billion by 2021.

Industrial robots can perform tasks faster and more accurately than humans. Increases in productivity are provided by industrial robots. Robots help reduce overall manufacturing costs in developing and developed countries.

Controllers permit leveraging industrial robot technology to improve automated process via iteration of work cells. Using controllers to leverage efficiencies is an evolving art, extending the current state of the art. Robots can perform tasks at less cost, and do work in a manner that cannot be replicated with human manufacturing workers. Information technology is used to implement the services provided by controllers.

Growth prospects for the industrial robotics industry depend on market opportunity metrics relative to the different industries. Automotive investment levels globally have remained at historical highs. Increasing usage of robotic automation by non-automotive companies is driving the usage of industrial robot automation to a new level.

Increased adoption of industrial robots coupled with a huge push from the industry for collaborative robots, opens opportunities for robotic solutions. In the immediate future industrial robots strengthen the position of every industry, promising more manufacturing efficiency at every level.

The industrial robots have not yet achieved economies of scale, illustrating the market opportunity that will come quickly after economies of scale are achieved. New technology and improved controllers open the path to economies of scale for industrial robots. As this occurs a new industrial revolution will occur. There are massive numbers of products offered by each major industrial robot vendor. Product consolidation is occurring in the market. Customization of a few products to increase product volume hold the promise of changing the market so it functions at a level that means devices that basically have eluded economies of scale in the past, will now be able to be mass produced.

A few leading vendors profiled in the report lead the market. ABB provides a comprehensive range of robots to help manufacturers improve productivity, product quality and worker safety. Regardless of application ABB has a robot to meet needs of the customer in any industry. ABB has installed 250,000 robots worldwide.