Overview Global Robotics Market 2018: Growth, Demand and Forecast Research Report to 2023

According to the latest report by IMARC Group, titled “Robotics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the global robotics market reached a volume of nearly 8 Million Units in 2017, growing at a CAGR of more than 23% during 2010-2017. Robotics is a field of engineering that studies the manufacturing, operation, handling, design and conception of robots. A robot is a machine which can automatically perform a set of complex activities. It can either be embedded with the control system or can be guided by an external control device. Additionally, robots provide improved productivity and efficiency as they are more consistent and precise as compared to human beings. Earlier, they were majorly used in the assembly lines of the automotive industry, whereas now they are utilised for performing different tasks ranging from cleaning nuclear waste and mowing lawns to exploring outer space and performing surgeries.

Over the years, there has been a rise in the technological advancements as well as the number of investments made in the field of robotics which is proliferating the growth of the robotics market. In addition to this, nowadays, robots have an improved sensory perception due to enhanced force sensors, fast processors and better vision.