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Global Demand for Robotics to Surpass $30 Billion in 2016 Finds Electronics.ca Publications - Global demand for robotics will reach $21.8 billion in 2011. That value is projected to reach $30.1 billion in 2016, after increasing at a five-year compound annual growth rate (CAGR) of 6.7% - Electronics.ca
Global Demand for Robotics to Surpass $30 Billion in 2016 Finds Electronics.ca Publications

 

NewswireToday - /newswire/ - Montréal, Québec, Canada, 2011/08/16 - Global demand for robotics will reach $21.8 billion in 2011. That value is projected to reach $30.1 billion in 2016, after increasing at a five-year compound annual growth rate (CAGR) of 6.7% - Electronics.ca.

   
 
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Electronics.ca Publications, the electronics industry market research and knowledge network, announces the availability of a new report entitled "Robotics: Technologies and Global Markets".

Global demand for robotics will reach $21.8 billion in 2011. That value is projected to reach $30.1 billion in 2016, after increasing at a five-year compound annual growth rate (CAGR) of 6.7%. The global robotics market can be broken down into four regions that account for the sale of virtually all robots – Asia, North America, the European Union, and other markets. The Asian region, valued at $7.7 billion in 2011, is projected to reach $10.9 billion in 2016, yielding a CAGR of 7.2%.

The North American region should be worth $4.9 billion in 2011, and in 2016 that value should reach $5.6 billion, a CAGR of 2.7%. The region comprised of the European Union will be worth $4.4 billion in 2011 and in 2016 should be worth $7 billion, a CAGR of 9.6%. The region made up of other markets, worth $4.7 billion in 2011, should be worth nearly $6.6 billion in 2016, yielding a CAGR of 6.7%.

Robotics can be considered to be a subfield of automation. As a field, robotics is multidisciplinary with far-reaching applications in manufacturing, medicine, surgery, planetary exploration, and the handling of hazardous materials, to name a few. It was once an industry that was grounded in a handful of highly specialized types of industrial and space robots, but has now expanded to include new, commercially viable types of domestic and professional service robots, as well as military and security robots.

The global robotics market was promising at the turn of the millennium, but felt the effects of the recent economic downturn. Despite this setback, the International Federation of Robotics (IFR) reports a surge of new and recession-delayed orders. Patent analysis also forecasts a rapidly growing market, but perhaps most encouraging, venture capital is again flowing to robotics-based start-ups. All of these indications point in the direction of a healthy market for robotics in the near future.

Reasons For Doing The Study
In the previous edition of Robotics: Technologies and Global Markets published in April 2009, the project analyst noted that internal and external circumstances had created a technological and business climate in which the robotics industry would see enormous change. He observed,“An industry that was once grounded in a handful of highly specialized types of industrial and space robots has expanded to include new, commercially viable types of domestic and professional service robots, as well as military and security robots.”

The degree to which robots have become a part of daily life was underscored for viewers of the BBC America nightly news broadcast that aired several days after the U.S.-Pakistani diplomatic dispute over Predator attacks. During the first half of the television broadcast, the time slot in which news directors place the day’s most important stories, viewers saw robots once again capturing headlines. One story reported how the U.S. had sent Predators to help Libyan revolutionaries. Another story announced that a debris-crawling robot was obtaining radiation measurements from inside Japan’s tsunami-crippled Fukushima Daiichi nuclear power station. The third story recounted how a submarine robot would be dropped 13,000 feet into the Atlantic Ocean to recover the flight recorder from an airliner that had crashed two years earlier, killing its 228 passengers and crew. For those knowledgeable about the robotics industry, the television broadcast was another reminder of just how rapidly the robotic business was changing.

This report will be informational to just about any reader, and will be especially useful to executives, government officials, policymakers, and anyone involved in the aerospace, automotive, chemical, construction, defense-related, electronics, food processing, home care, medicine, pharmaceutical, and textile and clothing manufacturing industries.

The objective of this study is twofold: First, it will focus on key developments in robotics that have occurred since 2009, when analysts published the most recent study of the robotics industry. Second, it will present 2011-2016 forecasts for the industry on a global, regional, and industry-segmented basis. To that end, this study presents market demand forecasts for the:

• Four regional markets that account for the sale of virtually all robots;
• Six types of robots;
• 16 industries that are most reliant on robots;
• 26 end-user applications or tasks that robots perform;
• Four categories of robot-related products.

In addition to forecasts presented as easy-to-comprehend tables, this study includes chapters devoted to recent developments in basic and advanced robotic technologies, information about key industry participants, and a patent analysis.

Details of the new report, table of contents and ordering information can be found on electronics.ca/.

 
 
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Global Demand for Robotics to Surpass $30 Billion in 2016 Finds Electronics.ca Publications

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Publisher Contact: Communications Manager - Electronics.ca 
514-425-5596 pr.communications[.]electronics.ca
 
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