Articulated Robot Market
Articulated
Robot Products Market Size was valued at USD 2.5 billion in 2022. The
Articulated Robot products market industry is projected to grow from USD 2.9
Billion in 2023 to USD 9.9 billion by 2032, exhibiting a compound annual growth
rate (CAGR) of 16.5% during the forecast period (2023 - 2032). 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.
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.
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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.
Major
Players:
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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1 Executive Summary
2 Scope Of The Report
2.1
Market Definition
2.2
Scope Of The Study
2.2.1
Research Objectives
2.2.2
Assumptions & Limitations
2.3
Markets Structure
3 Market Research Methodology
3.1
Research Process
3.2
Secondary Research
3.3
Primary Research
3.4
Forecast Payload Capacity
4 Market Landscape
4.1
Porter’s Five Forces Analysis
4.1.1
Threat Of New Entrants
4.1.2
Bargaining Power Of Buyers
4.1.3
Threat Of Substitutes
4.1.4
Rivalry
4.1.5
Bargaining Power Of Suppliers
4.2
Value Chain Of Global Articulated Robot Market
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