ReportsnReports Forecasts Global Robotics Market’s 2015-2019 CAGR at 29%

iRobotSUGVA new ReportsnReports study projects the global robotics market to grow 29.11 percent year-over-year from 2015 through 2019.

The report predicts the Asia-Pacific region will account for the highest demand for robotic systems as the economic progress in the region leads to industrialization and manufacturing growth trends, ReportsnReports said Friday.

The market faces challenges from the lack of product differentiation, according to the report.

ReportsnReports cites ABB, Fanuc, KUKA, Yaskawa Electric, Adept, Honda, Intuitive Surgical, iRobot, Kawasaki and Epson Robotics in the study.

The market research firm says in a separate report that military robotics will find the largest usage in reconnaissance, surveillance and target acquisition missions.

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