Global industrial robotics market
According to a new ResearchandMarkets’ report, the global industrial robots’ market was valued at US$ 41.86 billion in 2017, and is expected to reach US$ 73.51 billion by 2023, registering a CAGR of 9.84%, over the forecast period 2018-2023.
“The Occupational Safety and Health Act of 1970 (OSHA) of the United States government has been promoting the use of automation and robotics in the factory to make work safer, thus protecting the physical well-being of the employee. Moreover, several regulatory standards have been prescribing threshold conditions in terms of temperature and environmental conditions, under which workers are supposed to perform their duties,” said the report.
An articulated robot is a robotic arm that uses rotary joints to execute accurate movements constantly and steadily. Articulated robots are being used in the manufacturing sector for different applications such as assembling; spraying; cutting; welding; dispensing; painting; material handling and sealing. Articulated robots give more freedom than other robots and ensure additional versatility.
North America, said the report, is the largest market for smart solutions', with a major share held by the United States. The industrial sector in this region has recovered considerably after the recent recession to regain its earlier growth levels. The increased focus on workplace safety has also been a major factor that is driving adoption of industrial robots.