The rising demand for industrial robots across different industry verticals, regions and applications is propelling the industrial robotics market during the forecast period 2014 to 2020. Globally, Asia Pacific is analyzed to be fastest growing market largely due to the research and development infrastructure growth in countries such as Japan, Australia, China and India. The adoption of robotics in small and medium enterprises (SME’s) is further expected to bolster the industrial robotics market in the Asia Pacific region. 

Additionally, the demand for industrial robots across major application segments such as electrical, consumer electronics, and automotives is further expected to fuel growth over the forecast period 2014 to 2020. Countries such as Italy, Germany, France, and the U.K are expected to be key contributors to the growth of industrial robotics market in the European region. In North America, Mexico is expected to offer tremendous potential across varied application sectors in the coming years. Thus, the market for industrial robotics is expected to witness healthy growth across varied industry verticals and regions.

The global industrial robotics market was valued at USD 28.93 billion in 2013, growing at a CAGR of 6.2% from 2014 to 2020. ISO 8373 defines an industrial robot as an automatically reprogrammable, controlled, multipurpose manipulator programmable in three or more axes. It may either be fixed or mobile, as per its required use in industrial automation processes. There are different types of industrial robots which include cylindrical robots, articulated robots, Cartesian robots and SCARA robots among others.

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All these types of robots offer unique features and advantages, and are hence used majorly in a number of industry verticals namely, electrical & electronics industry, automotive industry, machinery industry, chemical, rubber & plastics industry, metals industry, precision & optics industry and food & beverages industry among other types of industries. These robots carry out a number of functions namely, materials handling, soldering and welding, assembling & disassembling, milling, cutting and processing, and painting and dispensing among other types of functions, in all the above mentioned industry verticals globally.