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The Market for Robots, Robot Parts, Robot Software, and Related Safety Materials Now Approaches $22 Billion
The economics of the global robotics sector has slowed in the past several years due to transnational upsets in the global financial community but the industry remains a substantial and growing enterprise. In the countries studied in Robotics: Technologies and Global Markets, the market for whole robots, robot parts, robot software, and related safety materials now approaches $22 billion. The study forecasts it will rise at a five-year compound annual growth rate (CAGR) of 5.9% between 2013 and 2018, when it’s expected to surpass $29 billion.
The bulk of the growth in the European Union will be concentrated in the latter part of the forecast period, when robotic development initiatives now being undertaken on an EU-wide basis will result in commercialized products. The distribution of growth among different types of robots also reflects a profoundly different approach in the EU toward encouraging the development of the industry than that in the North American market. The chief difference is an EU-wide emphasis on creating a new class of robots that can safely work in near proximity to humans and safely perform personal-care tasks that will be increasingly required as the European population ages.
Regardless of the eventual level of development of medical robotics, the structural differences in the way in which physicians, surgeons, hospitals, and other portions of the healthcare industry are compensated for the services they provide will strongly favor development in the European Union, where single-payer insurance programs predominate and the cost of malpractice insurance is less burdensome than in the U.S., which constitutes the bulk of the North American market. Suppliers of robots in North America have focused most of their efforts on developing robots for military and security purposes, which command higher per-unit prices.
Robotics: Technologies and Global Markets provides:
- Key developments in robotics that have occurred since 2010
- Forecasts of 2013-2018 product demand based on recent developments that alter the industry’s technological and economic landscape in North America, Asia, Europe, and developed- nations in other regions
- A comprehensive regional set of tables that forecast current U.S.-dollar value demand for four categories of robot products, six types of robots, 16 robot-using industries, and 26 end-user applications for robots
- An overview of key industry participants, and a patent analysis accompanied by a list of patent numbers and titles of the more than 700 robot patents issued by the U.S. Patent and Trademark Office.
Details of the new report, table of contents and ordering information can be found on Electronics.ca Publications' web site. View the report: "Robotics: Technologies and Global Markets".