Lewes, DE -- (SBWire) -- 05/18/2016 --Report forecast the European industrial robotics market to grow at a CAGR of 8.42% during the period 2016-2020.
Industrial robots consist of a robotic arm, control cabinet, control panel, and other peripherals. They are used for welding, painting, pick and place, palletizing, cutting, assembly, and product testing, and inspection. These robots are often used to perform tasks that are repetitive, laborious, and dangerous.
The report covers the present scenario and the growth prospects of the European Industrial Robotics Market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales and aftermarket services of industrial robots.
According to the report, a key market driver is the effort by companies to reduce expenditure. Industrial robots are flexible, and can be easily programmed to adapt to new production lines without any training. The margin of error is less, and the functioning of these robots can be extended overnight and during weekends without any supervision. Industrial robots produce defect-free products, and reduce product failure and wastage. They do not require additional expenditures on healthcare, insurance, and income. These robots require minimum heating and lighting, which reduces energy consumption considerably. Therefore, the adoption of these robots enables companies to minimize direct and overhead costs.
Further, the report states that one challenge that hampers market growth is the low adoption rate of robots in the SME sector.
European Industrial Robotics Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
key players in the European Industrial Robotics Market: ABB, Comau, FANUC, KUKA, and Yaskawa Electric Corporation.
Other Prominent Vendors in the market are: Kawasaki Heavy Industries, Mitsubishi Electric, Nachi Robotics, Staubli Robotics, and Yamaha Robotics.
Market driver
- Reduction in company expenditure
- For a full, detailed list, view our report
Market challenge
- Low adoption rate of robots in SME sector
- For a full, detailed list, view our report
Market trend
- Integration of IoT in industrial robotics
- For a full, detailed list, view our report
Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
Spanning over 55 pages and 28 Exhibit "European Industrial Robotics Market 2016 - 2020" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Market segmentation by application, Market segmentation by end-users, Geographical segmentation, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Key takeaways, Appendix.
For more information Visit at: http://www.marketresearchreports.com/technavio/european-industrial-robotics-market-2016-2020
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