Albany, NY -- (SBWIRE) -- 12/14/2018 -- The global industrial robotics market is characterized with a high level of fragmentation, thanks to the presence of a large number of local as well as international players operating in it, states a new report by Transparency Market Research. The market players are making ardent efforts to expand their product portfolio by focusing on innovations and research and development activities. In addition to this, the rising number of mergers and acquisitions and the emergence of new models of industrial robots are estimated to propel the global industrial robots market throughout the forecast period.

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From a geographical viewpoint, Asia Pacific is projected to account for a large share of the global industrial robotics market and lead in the next few years. The strong growth of this region can be attributed to the significant rise in the research activities and the increasing contribution from Japan, Australia, China, and India.

Moreover, the rise in the adoption of industrial robots in small and medium enterprises in the emerging economies of Asia Pacific is further expected to enhance market growth. Furthermore, North America and Europe are projected to witness steady growth throughout the forecast period, thanks to the presence of several leading players operating in these regions.

The global market for industrial robotics has been classified on the basis of application into oil and gas, semiconductors, chemicals, textiles, automotive, power, OEMs, printing and packaging, food processing, pharmaceuticals, plastics, and others. Among these, the automotive segment is anticipated to hold a large share of the global market in the next few years.

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