Asia Pacific Scara Robots Market Forecast 2019-2028
The Asia Pacific SCARA robots market is expected to grow at a CAGR of 11.15%, during the forecast period of 2019 to 2028. The Asia Pacific is the most populated region due to which, many countries have heavily invested in its research and development enterprises. This has considerably driven the market growth in this region.
The Asia Pacific SCARA robots market growth is analyzed across China, India, Indonesia, Taiwan, Japan, Vietnam, Thailand, South Korea, Australia & New Zealand, and the rest of Asia Pacific. The automation rates in India are comparatively lesser than in other countries, and operations with robots are low due to the availability of cheap labor. However, as a result of the 'Make in India' campaign, several manufacturing industries are expected to rise and drive the country's market growth. The robotics sector in India may also face tough challenges such as high costs of adoption, lack of skilled professionals, and the absence of hardware components. Conversely, South Korea comprises the highest concentration of industrial robots in the world. The nation has also exceeded the average ratio of industrial robots to employees or the robot density, across the globe. Moreover, the government of South Korea is likely to preserve its stronghold in the field of robotics, and is expected to spend $xx million, over the next five years. These factors are anticipated to propel market growth substantially.
Some of the prominent companies in the market include Mitsubishi Electric Corporation, Omron Corporation, Toshiba Corporation, Yamaha Corporation, Kawasaki Heavy Industries Ltd, etc.
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