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The new technological developments are making manufacturing industry smarter in
terms of efficiency with minimizing defect, waste and downtime. In order to overcome
the limitations of traditional labour work in industries and enhance the capability of
operators, industrial robotics has been evolved. Installation of industrial robots also helps
to gain competitive advantage by making business process more dynamic. As defined by
ISO 8373 standards the industrial robot is “an automatically controlled, reprogrammable,
multipurpose manipulator programmable in three or more axes”. Today, the Industrial
robots are increasingly being installed in various industry such as food and packaging,
automobile, electronics etc.
The global industrial robotics market is experiencing the robust growth with numerous
untapped opportunity. In 2013, the global industrial robotics market registered around
12% to 15% year on year growth which is expected to grow at same pace for the forecast
period. The factors driving the growth of global industrial robotics market are growing
automation to meet production demand, need for meeting the technology standard set
by government and industry associations and, increasing production capacity to
anticipate the future demand. The use of industrial robotics helps to achieve automation
in manufacturing process which is the major trend in global industrial robotics market.
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The industrial robotics market is segmented on the basis industry which are automotive
industry, chemical, rubber and plastics industry, electrical & electronics industry metal
and machinery industry,...