PORTLAND, Ore., April 09, 2020 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global SCARA robot market accounted for $7.70 billion in 2019 and is projected to garner $14.78 billion by 2026, growing at a CAGR of 9.8% from 2019 to 2026.
Increasing need for mass production with minimum operation cost, rise in demand for IoT-based smart solution & automation, and surge in adoption of industry 4.0 have boosted the growth of the global SCARA robot market. However, increased expenditure to implement SCARA robots hinders the market growth. On the other hand, increase in application areas of collaborative robots and upsurge in demand for automation in Asian countries would open new opportunities in the coming years.
Download Sample Report: https://www.alliedmarketresearch.com/request-sample/6413
The global SCARA robot market is divided on the basis of payload capacity, application, industry vertical, and geography. Based on payload capacity, the market is categorized into up to 5.0 kg, 5.01 to 15.0 kg, and more than 15.0 kg.
On the basis of application, the market is segmented into material handling, assembling and dissembling, wielding & soldering, dispensing, processing, and others. The assembling and disassembling segment would manifest the highest CAGR of 12.6% during the forecast period. On the other hand, the material handling segment dominated the market in 2019, holding nearly one-third of the total revenue.
Based on industry vertical, the global market is bifurcated into electrical & electronics, automotive, food & beverages, pharmaceuticals, metal & machinery, and others. The electrical & electronics segment contributed the highest share in 2019, accounting for nearly one-third of the market. However, the pharmaceutical segment is projected to portray the fastest CAGR of 13.1% during the forecast period.
The global SCARA robot market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific is expected to manifest the highest CAGR of 11.9% during the forecast period. However, the market across Europe held the largest share in 2019, accounting for more than one-third of the market.
Enquire for Discount: https://www.alliedmarketresearch.com/purchase-enquiry/6413
The global SCARA robot market report includes an in-depth analysis of the major market players such as Seiko Epson Corporation, OMRAN Corporation, ABB, KUKA AG, Kawasaki Robotics, DENSO Corporation (DENSO Robotics), Mitsubishi Electric Corporation, Stäubli International AG, Fanuc Corporation, and Yaskawa Electric Corporation.
Access Avenue (Premium on-demand, subscription-based pricing model) @ https://www.alliedmarketresearch.com/Avenue-Membership-details
Avenue, a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.
Related Studies:
Global Smart Robot Market is projected to reach $17,561 million by 2025
Mobile robotics market size is projected to reach $39,585 million by 2026
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.