The Articulated Robot Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Articulated Robot Global Market Report 2024, The articulated robot market size has grown rapidly in recent years. It will grow from $15.69 billion in 2023 to $18.26 billion in 2024 at a compound annual growth rate (CAGR) of 16.4%. The growth in the historic period can be attributed to manufacturing sector growth, automotive industry adoption, rise of electronics and semiconductors, focus on efficiency, medical and healthcare applications.
The articulated robot market size is expected to see rapid growth in the next few years. It will grow to $31.89 billion in 2028 at a compound annual growth rate (CAGR) of 15.0%. The growth in the forecast period can be attributed to regulatory support and safety standards, smart factory growth , automotive industry evolution , energy efficiency and sustainability, smes embracing robotics.. Major trends in the forecast period include industry 4.0 and automation, collaborative robotics, healthcare applications , food and beverage industry, artificial intelligence integration.
The increase in demand for industrial robots is expected to propel the growth of the articulated robots market. Industrial robots are mechanical systems or machines programmed to perform production-related activities autonomously in industrial settings. Articulated robots are industrial robots with a human resemblance and are used in various industrial applications. For instance, in June 2022, according to the data published by ‘The International Federation of Robotics, a Germany-based, non-profit organization to promote, strengthen, and protect the robotics industry, in October 2021, the actual installation of industrial robots reached 4.35 million units, with a 13% growth in 2021 as compared to 2020. It is expected to reach 5.18 million units in 2024. Therefore, increasing demand for industrial robots is driving the growth of the articulated robot market.
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The articulated robot market covered in this report is segmented –
1) By Type: 4-Axis Or Less, 5-Axis, 6-Axis Or More
2) By Payload: Upto 16 Kg, 16 To 60 Kg, 60 To 225 Kg, More Than 225 Kg
3) By Function: Handling, Welding, Dispensing, Assembly, Processing, Other Functions
4) By Component: Controller, Arm, End Effector, Drive, Sensor, Other Components
5) By End Industry: Automotive, Electrical And Electronics, Chemicals, Rubber And Plastics, Metal And Machinery, Food And Beverages, Precision Engineering And Optics, Pharmaceuticals And Cosmetics, Other End-Users
Rapid technological changes are the key trend gaining popularity in the articulated robot market. Key players are focusing on advancements such as collaborative robots, commercial drones, AI-enabled robots, self-healing robots, cloud robots, and customized robots to gain a competitive edge in the market. For example, in September 2021, Honeywell, a US-based company that diversified manufacturing and technology company, introduced new robotic technology designed to help warehouses and distribution centers automate the manual process of unloading pallets, to reduce the operational risks of potential injuries and labor shortages. The Smart Flexible Depalletizer, driven by sophisticated machine learning and advances in perception and gripping technologies, minimizes the need for manual labor to break down pallet loads, roles that carry the risk of injury to labor, experience high turnover, and are challenging to staff.
The articulated robot market report table of contents includes:
1. Executive Summary
2. Articulated Robot Market Characteristics
3. Articulated Robot Market Trends And Strategies
4. Articulated Robot Market – Macro Economic Scenario
5. Global Articulated Robot Market Size and Growth
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26. South America Articulated Robot Market
27. Brazil Articulated Robot Market
28. Middle East Articulated Robot Market
29. Africa Articulated Robot Market
30. Articulated Robot Market Competitive Landscape And Company Profiles
Top Major Players:
- ABB Ltd
- FANUC Corporation
- Kawasaki Heavy Industries Ltd
- KUKA AG
- Omron Adept Technology Inc
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