Market Research Future published a research report on “Articulated Robot Market Research Report - Global Forecast till 2027” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2027.
The articulated robot market is garnering substantial traction worldwide. The market growth attributes to the advantages of articulated robots helping to reduce the overall production cost. Due to the scalable flexibility, it is easier to do process changeovers with articulated robots. Moreover, the rising adoption of articulated robots in small and medium enterprises escalates market growth.
According to Market Research Future (MRFR), the global articulated robot market valuation is projected to grow at an impressive CAGR throughout the review period (2018 – 2023). The pandemic is accelerating the digital transformation, promoting social distancing. Wherever the epidemic is impacting automation, distinct technology areas, ranging from 5G, cloud/edge, and artificial intelligence to articulated robots, are growing significantly in response to the COVID 19impacts on business.
Additionally, the industrial revolution 4.0, along with the increasing demand for automation across industries such as automotive, aerospace, EMS (electronic manufacturing services), and pharmaceuticals & cosmetics, boost the Articulated Robot Market share.
Conversely, high initial costs and complexities involved in the development of articulated robots and their installation are major factors projected to impede market growth. Nevertheless, growing applications of articulated robots in the autonomous warehouse and logistics industry would support the market growth throughout the review period.
Global Articulated Robot Market - Segmentation
The report is segmented into five dynamics;
By Component : Software, Hardware, and Services.
By Payload Capacity : Low, Medium, High, and Heavy.
By Application : Welding, Material Handling, Load/Unload, Assembly, Bin Picking, Processing, Painting, Washing, and others.
By Industry Vertical : Aerospace, Automotive, Food & Beverages, Chemicals, Metals & Machinery, Rubber, & Plastics, Pharmaceuticals & Cosmetics, Precision Engineering & Optics, and others.
By Regions : Asia Pacific, Americas, Europe, and Rest-of-the-World.
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Global Articulated Robot Market - Regional Analysis
The Asia Pacific region dominates the global articulated robot market. The market growth attributes to the strong presence of several notable players and well-established development centers, allowing advances in robotics and the early uptake. Besides, the growing industrialization and production drive the articulated industrial robot market. Moreover, rapid economic growth and increased R&D activities drive regional market growth.
Rapidly emerging APAC countries, such as India and China, account for a considerable share in the regional market. With its vast investments in the development of articulated robotics and the manufacturing processes, India demonstrates the maximum potential to grow during the assessment period. Furthermore, the rising demand for new autonomous technology from the burgeoning automotive and aircraft sectors fosters the growth of the regional market.
North America stands second in the global articulated robot market. The market growth is driven by the increasing development in automation and the high adoption of automation in production units. Additionally, the growing demand for the articulated robot from the logistics industry propels the growth of the market. Besides, the increasing focus on enhancing communication capabilities, especially for the defense sector in the region, pushes the articulated robot market size.
Players active in the global articulated robot market are Fanuc Corporation (Japan), Yaskawa Electric Corporation (Japan), ABB (Switzerland), Mitsubishi Electric Corporation (Japan), Seiko Epson Corporation (Japan), Kawasaki Heavy Industries, Ltd (Japan), OMRON Corporation (Japan), KUKA Aktiengesellschaft (Germany), Toshiba Machine Co., Ltd (Japan), Aurotek Corporation (Taiwan), Cassioli S.r.l (Italy), Yamaha Motor Co., Ltd(Japan), Denso (Japan), Engel (Austria), Daihen Corporation (Japan), Stubli International (Switzerland), SIASUN (China), Nachi-Fujikoshi (Japan), GSK (UK), Triowin (China), and HIWIN (Taiwan), among others.
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