IHS predicts that robotics will be the fastest-growing end-user sector for precision-geared products from 2015 to 2020, with a CAGR of 12.6%. Robotic applications were the largest market in 2015, with an estimated $596m in revenues, representing 31.4% of the total. The machine tool industry was the second-largest market ($264m), followed by packaging and labelling ($220m), materials-handling equipment ($215m), and the food, beverage and tobacco sector ($186m).