Technavio says the Industrial Robotics Market in North America Will Exhibit Steady Growth through 2019
By Business Wire News
By Business Wire News
Technavio, a tech-focused research firm, has published a new report on the industrial robotics market in North America, which is expected to grow at a CAGR of 12% from 2015-2019.
Industrial robots: About the report
According to the latest industry analysis report by Technavio, there has been a marked decline in skilled labor in North America, which has become a key concern for manufacturing companies. In response to this, many organizations are increasingly deploying machines and robots to automate various manufacturing processes.
“Labor costs have increased in the US and Canada in the past few years, which has affected overall manufacturing costs. Industrial robots help mitigate the effects of rising costs by reducing human intervention in various industrial processes,” says Faisal Ghaus, Vice President of Technavio.
The new market research published by Technavio also emphasizes the development of next-generation industrial robotics in the market. Vendors are using advanced technologies to develop independent robotics systems by employing artificial intelligence.
“The adoption of next generation industrial robotics systems in the automotive and automobile component industries is expected to see a marked increase over the forecast period,” says Ghaus.
Technavio currently has more than 3000 market research reports on a huge range of topics, including:
- Global Industrial Robotics Market in the Automotive Industry 2015-2019
- Global Underwater Robotics Market 2015-2019
Technavio is a leading global technology research and advisory company.
Founded in 2003, Technavio has about 200 analysts globally and develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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