Monday, March 04, 2013
Robotics market value forecast value 2018
BCC Research, "Robotics: Technologies and Global Markets," the market for whole robots, robot parts, robot software, and related safety materials now approaches $22 billion. The report forecasts a five-year compound annual growth rate (CAGR) of 5.9% between 2013 and 2018, when it's expected to surpass $29 billion.
According to the report, the bulk of the growth in the European Union is anticipated to 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.
For more information about the report, please visit the report website.