Showing posts with label Robotics Technology Industry Trends. Show all posts
Showing posts with label Robotics Technology Industry Trends. Show all posts

Tuesday, 19 January 2016

Growing Adoption of Robots by SMEs will Transform the Market

https://www.alliedmarketresearch.com/robotics-technology-market
According to this new report entitled, “Global Robotics Technology Market- Size, Industry Analysis, Trends, Opportunities, Growth and Forecast, 2013-2020”, the global robotics technology market is expected to reach $82.7 billion by 2020, registering a CAGR of 10.11% during 2014 – 2020. The increasing demand for automation in all aspects of life has majorly contributed to the growth of robots. Rising labor costs has pushed organizations to automate their processes with the use of robots. Growing adoption of robots by SMEs will transform the market. Earlier, the robots were only restricted to manufacturing process. However, with the advent of advanced technologies, they are entering homes, offices, hospitals and other institutions. APAC region dominates this market growing at a CAGR of 8.71%. It generates a major revenue in this market owing to the high density of automotive companies in the region.