Albany, NY -- (SBWire) -- 02/16/2017 --It is well known that invention of robots has brought the revolutionary changes in the field of industrial manufacturing. According to a new study, titled "Global Industrial Robotics Services Market 2017-2021" the importance of robots in industries is growing day by day and they constitute a very significant part of the modern industries. The study has been recently published to the online repository of Market Research Hub (MRH), focuses on the major factors and trends driving the growth of the market, by analyzing the global market with a prime focus on key regions such as APAC, EMEA and Americas. Key findings of the study reveal that the global industrial robotics services market will grow rapidly at a CAGR of 10.16% during the forecast period of 2017-2021.
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Initially, the report discusses the market scope along with the key market highlights to analyze the industrial robotics services market's development status and future growth prospects. In order to overcome the limitations of traditional labor work in industries and enhance the capability of operators, industrial robotics has been evolved. In terms of geography, the Americas accounted for the maximum market share during 2016 and will continue to dominate the market until the end of 2021. Additionally, the research states that foremost demand will surge from companies in sectors including automotive, food and beverages (F&B), electrical and electronics, chemicals and industrial machinery.
Today, automation and robotic equipment hold great importance in modern day manufacturing activities. Also, manual labor has eventually replaced with self-programming robots owing to the job efficiency and cost-effectiveness, its principal features include environmental interfaces and sensors. Apart from that, one of the major challenges that can hinder the growth of the market includes high installation cost of services and challenges in implementing a holistic customer service experience.
In the next section, the report presents detailed market segmentation. Industrial robots can be classified into many service types and applications such as material handling, welding, assembling, painting, and for other purposes. Moreover, the research forecasters have also analyzed that one of the major trends impacting the market is virtual commissioning. This is gaining interest in on-site commissioning, as it helps in the reduction of time and costs by 50%-60%.
The growing availability of remote services and the Internet of Things (IoT) by vendors in the market will drive the growth prospects for the global industrial robotics services market for coming years. At present, the leading players in the market are as follows:
Omron Adept Technologies
ABB
Remtec Automation
FANUC
KUKA
Yaskawa Motoman
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Furthermore, in this study, market share analysis of each industry participants are also included. Additional prominent vendors in the market are Applied Manufacturing Technologies, EIS, ICS Robotics, RobotWorx, Geku Automation, InMotion Robotics, Phoenix Control Systems, Essert and Scott Automation & Robotics.
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