Global robotics market to climb 5.9% CAGR

ReportsnReports.com has revealed that the global market for whole robots, robot parts, robot software, and related safety materials now approaches US$22 billion. The report forecasts it will rise at a five-year compound annual growth rate (CAGR) of 5.9% between 2013 and 2018, when it’s expected to surpass US$29 billion.  Asia was valued at US$7.7 billion in 2012 and should reach US$7.8 billion in 2013. It is further expected to increase and reach US$10.6 billion in 2018, a CAGR of 6.3%. Meanwhile, North America is expected to reach US$4.9 billion in 2013. It is further expected to increase and reach $5.6 billion in 2018, a CAGR of 2.6%.