Industrial Automation Incentives by Governments in Emerging Economies Drive Industrial Robots Market: FMI Study
The industrial robots market is projected to display an exponential rate of growth for the duration of the forecast period between 2021 and 2031. The demand for industrial robots has been largely driven by the transition from manual industrial activities to automated solutions. Reduced costs associated to hiring manpower, and improvements to predictive maintenance tools and artificial intelligence are expected to support the adoption of industrial robots for the near future. "The high costs associated with manual labor including benefits, health and safety compensation, and increasing annual wages are key factors supporting the adoption of automation. Owing to the health and safety requirements, human workers are unable to function in adverse environments and performance is often affected for repetitive tasks. These are key factors that bolster the adoption of industrial robotic alternatives for the foreseeable future," says the FMI study. Request a report sam...