DUBLIN--(BUSINESS WIRE)--Aug 9, 2018--The "Business Robots Market - Forecasts from 2018 to 2023" report has been added to ResearchAndMarkets.com's offering.

This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.

Business robots market is expected to witness robust growth over the forecast period on account of growing focus toward industry automation as well as high speed innovation. The diversity in labour market owing to changing demographics further contributes to the adoption of robots in businesses. For instance, the rapidly aging population in China is cumulating country's labour cost. Other drivers include rapid industrialization, growing investment and continuous R&D. Favourable government initiatives, especially in developing countries, and surge in demand from SMEs is expected to augment the market growth in years ahead. However, high implementation cost restrains end users with limited capital to adopt this technology.

By End-User

By End-User, manufacturing segment accounted for high market share in 2017 and is also expected to hold a notable position by the end of projected period. This growth is largely driven by high share of automotive sector. The increase in investments for product modernization by major car producing countries contributes to the growth of automotive segment for business robots market. Moreover, high competition in major car market further pushed for investments. The metal industry is expecting a high growth over the projected period owing to the growing adoption of robotics for applications like welding, painting, casting, cutting and others.

Major industry players profiled as part of the report are FANUC Corporation, ABB, Nachi Robotic Systems Inc., Yaskawa America, Inc., and DENSO Robotics.

Segmentation:

By Component

Software Hardware Sensor Control System Actuator Others

By Type

Articulated Polar Cartesian Cylindrical Others

By End User

Industrial Automotive Food and Beverage Electrical and Electronics Chemical Manufacturing Others Commercial

Companies Mentioned

FANUC Corporation ABB Nachi Robotic Systems Inc. Yaskawa America, Inc. DENSO Robotics KUKA Kawasaki Heavy Industries, Ltd Epson America, Inc. Omron Corporation

For more information about this report visit https://www.researchandmarkets.com/research/52k4jn/global_business?w=4

View source version on businesswire.com:https://www.businesswire.com/news/home/20180809005666/en/

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Related Topics:Robotics

KEYWORD:

INDUSTRY KEYWORD: TECHNOLOGY OTHER TECHNOLOGY

SOURCE: Research and Markets

Copyright Business Wire 2018.

PUB: 08/09/2018 02:03 PM/DISC: 08/09/2018 02:03 PM

http://www.businesswire.com/news/home/20180809005666/en