In recent years the numbers of both the completed and the under constructed robotic facilities across the world has witnessed a huge face –lift. Furthermore, the robotic facilities in China alone has grown over forty with the intent to endeavor and develop industrial and home robotics. Today, consumers across the globe are ready to shell out huge dollars for robots that exhibit exceptional capabilities. The robotic technology now has great applications in foundry, metal fabrication, automotive, wood industries, biotech and forging among several industries. These robots like any other machinery are capable of performing duties and work autonomously, when the user indicates the machine to do so. In addition, the assemblage for various cutting–edge development in robotic technology indicate that the robots would soon replace human resources across an array of industries. In coming four to five years the industrial robots won’t be midget and would be more cost-effective, feasible.
Global developments in axis technology makes multi task easier, boost capability and efficiency. New waves of self –learning robots in advanced economies such as US and Germany are among other countries have replaced humans when it comes to repetitive jobs or rote. Robot Market Forecasts estimate the market size at $53 billion and is forecasted to attain $171.7 billion by the end of 2020.
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According to the market analyst there is an opportunity to participate in robotic markets. This new market is evolving as there are innovations by major companies regarding new automated process based on breakthroughs in technology that is compatible with robotic platforms
There are many reports in the market which tracks the current and future growth trends of the market along with the detailed market forecast. Recently, Research Beam has added a report “Robots: Market Shares,Strategies, and Forecasts, Worldwide, 2014 to 2020”. The study makes a comprehensive analysis of key market drivers, business profiles of major vendors and market shares and strategies and future growth opportunities of the market in terms of imminent investment pockets.