Industrial Robotics Market Is Projected to Grow at the Highest CAGR from 2020 to 2025

Northbrook, IL -- (SBWIRE) -- 04/21/2021 -- According to MarketsandMarkets, the top robotics market is projected to grow from USD 76.6 billion in 2020 to USD 176.8 billion by 2025; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 18.2% from 2020 to 2025. Collaborative robots are becoming more affordable and easier to program for novice users, leading to growing demand for collaborative robots across all industry segments. Service robots are increasingly being adopted for new applications due to various advantages such as increased productivity, streamlined processes, and greater workplace safety. The main advantage of using service robots is the reduction in the cost of operation and high ROI. The objective of the report is to define, describe, and forecast the top robotics market based on type, component, environment, application, industry, and region.