INDORE, India, November 2, 2016 /PRNewswire/ --
Automated material handling market is growing with a CAGR of around 8% attributed to increasing demand for the automated solution from various applications like manufacturing, automotive and electrical. The automotive and electrical industries are the major application where the demand for industrial robots are very high as compared to other application. In 2015, around 1500 industrial robots are being used in automotive application for per 10,000 population in USA. Although, growing expansion of manufacturing facility across the globe, majorly in emerging economies such as India, China have boosted the requirement for automated material handling across industries. On the word of International Federation of Robotics, around 60,000 industrial robots were sold in China only in 2015. In 2016, the demand for industrial robots is around $3 billion in China only, such high demand for industrial robots in China has been witnessed due to the increasing investment in automation by a wide range of domestic industries in China.
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Robotic Systems: The Growth Driver
Robotic system is one of the highly demanded product in industries for process automation. In 2015 around 240,000 industrial robots were sold globally by about 25% increase in the sales from 2014. The automotive and the electronics industry were the key drivers for this growth. From the last decade, the industrial robotics demand has accelerated considerably owing to the ongoing trend towards automation and the continuous technical improvements in the industrial robots. The technological innovation is the major factor which is increasing the demand for the automated material handling across the globe. Various key players across the globe are investing a money for the development of the industrial robots. In 2015, ABB has innovated a dual arm, collaborative, small parts assembly robotic system named "YuMi" moreover, KUKA Robotics also produced a sensitive collaborative industrial robot termed "LBR iiwa" in the year 2015. There are various other players Universal Robotics and others are innovating new technology for the automated material handling.
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High Initial investment: Hurdle to The Growth
The high cost of industrial robots is one of the major factor which is hampering the growth in the global automated material handling market. The companies and government have to invest huge amount for the development of new technology in the automated material handling. It is expected that from 2015 to 2025 the investment in all type of automation rise to around $190 billion by 2025 up from around $10 billion in 2015.
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