According to Occams Business Research & Consulting, Automated material handling market is growing with a CAGR of around 8% attributed to increasing demand for the automated solution from various applications like manufacturing, automotive and electrical. The automotive and electrical industries are the major application where the demand for industrial robots are very high as compared to other application. In 2015, around 1500 industrial robots are being used in automotive application for per 10,000 population in USA. Although, growing expansion of manufacturing facility across the globe, majorly in emerging economies such as India, China have boosted the requirement for automated material handling across industries. On the word of International Federation of Robotics, around 60,000 industrial robots were sold in China only in 2015. In 2016, the demand for industrial robots is around $3 billion in China only, such high demand for industrial robots in China has been witnessed due to the increasing investment in automation by a wide range of domestic industries in China.

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