R&D Spending Expected to Spike in Robotics Industry Until 2020
Kagan Pittman for Engineering.com: As Chinese companies move to expand their market share in industrial robotics, so too are companies in the West, with some of the biggest power-plays coming from R&D departments.
A recent report by Technavio predicts that global R&D spending in the robotics industry will grow at a CAGR of more than 17 percent between 2016-2020.
Technavio analysts cite the following factors as key drivers in the growth of R&D spending:
- A race for robotics patents
- Demand for lower system engineering and installation costs
- Growing demand for industrial robots from non-automotive industries
The report’s analysis considers market trends across user segments including: defense, healthcare, automotive, domestic, food and beverage, electricals, electronics, oil and gas, textiles and packaging. Cont'd...
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