Future of Global Industrial Robotics Market Lies in Semiconductor Industry
The competitive landscape of the global industrial controls and robotics market consists of players such as Schneider Electric SA, Kawasaki Robotics, Omron Corporation, Rockwell Automation Inc., Siemens AG, Mitsubishi Electric Corporation, and Invensys plc. The key players have significant scope of growth across the emerging economies such as India and Brazil, says Transparency Market Research (TMR) in a new report.
Governments in these countries are taking various initiatives to strengthen the manufacturing sector by improvising productivity. These countries usually import machines, technology, and components from developed countries such as France, Japan, and Germany. As a result, the emerging economies pose as an open market for the key players to increase their viability on a large scale.
North America Remains a Key Region for Growth of Global Industrial Controls and Robotics Market
Presently, the Americas is the target region for the market players to maximize their profits. In 2012, the region accounted for the highest share in the market, followed by Asia Pacific and Europe. “The rapid adoption of new technologies and the growing demand for large-scale production and re-engineering in the industrial sector are the primary factors backing up the growth of the market across North America,” a TMR analyst cites.
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Among the major end-user industries, the automotive industry contributes the highest towards the growth of the global industrial controls and robotics market. However, the market players are shifting their focus on the semiconductors industry as it is projected to register the fastest growth during the forecast period. “The requirement of high degree precision with rapid production in the semiconductor industry can be addressed by industrial controls and robotics solutions,” TMR report mentions.
Low Cost Labor across Developing Economies to Hamper Growth of Global Industrial Controls and Robotics Market
The growing demand for minimum turnaround time across the manufacturing sector has aided the extensive usage of industrial controls and robotics. The implementation of industrial controls and robotics solutions enhances productivity and decreases variable costs. Hence, these solutions are being highly preferred by manufacturers across various sectors. Furthermore, keeping in view the introduction of minimum wage policies, manufacturers prefer using industrial controls and robotics solutions to enhance the performance of hazardous tasks while involving lesser manpower.
However, the high initial investment regarding the set up of industrial controls and robotics plays spoilsport in the growth of the market. The availability of low cost labor across developing countries has also restricted the expansion of the global industrial controls and robotics market. The market holds a significant growth opportunity with the rising demand for customized products. “The empowerment of small and medium enterprises in emerging economies will offer ample opportunities for the market’s growth,” TMR report states.
The global market for industrial controls and robotics is anticipated to develop at a CAGR of 5.6% during the period from 2013 to 2019. The market was worth US$102.02 bn in 2012 and is expected to touch a valuation of US$147.7 bn by the end of the forecast period.