ARC tracks ‘booming’ robotics market

Dedham, Massachusetts -- The market for industrial robotics is booming as a result of new automotive sector investments and strong growth among small and medium-sized businesses, according to a market report from ARC Advisory Group.

According to a new ARC study, the global market for industrial robotics will register compound annual growth rate (CAGR) of 7.7% over the next five years. The hardware market, it forecast, will reach $5,118 million in 2010, up from $3,590.5 million last year.

While the key growth areas for industrial robots will include traditional applications such as welding and material handling, innovation will be an important market driver over the next five years, according to ARC analyst, Stefan Surpitski.

"The market for Industrial Robotics will become even more exciting as new technologies and applications emerge. Expect factory floor workers to safely partner with their robotic counterparts to work side by side," said Surpitski -- the principal author of the report titled Industrial Robotics Worldwide Outlook.

Advances in application and simulation software is facilitating adoption of robotic systems in sectors that have either limited resources or a less skilled workforce, according to the study. Another focus is on workflow efficiency, ARC citing new configurations that enable robots to work "cooperatively and simultaneously" on a single work piece.