Articulated Robot Market
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 (2020 – 2027). 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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