NEWARK, Del, Aug. 14, 2023 (GLOBE NEWSWIRE) -- The Market for Articulated Robot is forecasted to account for around US$ 20.4 billion in 2033, up from US$ 9.2 billion in 2023 advancing at a rate of 8.3% from 2023 to 2033, as per the Articulated Robots Market analysis by FMI.
In the ever-evolving landscape of automation, Articulated Robots have emerged as trailblazers, driving transformative changes across diverse industries.
Embracing the trend of collaborative robotics, these versatile machines are reshaping the way tasks are performed, collaborating seamlessly with human workers and offering unparalleled levels of efficiency and precision.
Their adaptability, enhanced capabilities, and ability to handle complex tasks have solidified their position at the forefront of the automation revolution, promising to revolutionize industries and create new possibilities for the future.
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Driving Evolution: Articulated Robots and AI Forge New Pathways for Efficiency and Growth
The automotive industry has been a major catalyst for the growth of the Market. As car manufacturers seek to improve efficiency and maintain high production standards, Articulated Robots have become essential in various stages of the manufacturing process.
From welding car bodies to assembling components, these robots have significantly contributed to the automotive industry's growth, in turn, expanding the Articulated Robot Market size.
To stay competitive in the rapidly advancing automation landscape, many Articulated Robot manufacturers are integrating artificial intelligence (AI) and machine learning capabilities into their products.
This integration allows robots to learn from their interactions, adapt to changing conditions, and optimize their performance over time, further enhancing efficiency and reducing downtime.
While the Market has gained significant traction in developed economies, emerging Markets present promising opportunities for further growth. Countries in Asia, particularly China, and India, are witnessing rapid industrialization and are projected to be major contributors to the Market's expansion in the coming years.
Navigating Challenges and Expanding Horizons: Articulated Robots Reshape Industries with Versatility and Potential
While there is a legion factor boosting the Articulated Robot Market growth, the Market is also confronted with a few challenges one of which is the substantial upfront cost of acquiring and implementing Articulated Robot systems can be a significant barrier for small and medium-sized enterprises, limiting their adoption.
Despite the existence of various challenges, the Articulated Robots' versatility allows them to excel in niche applications, such as medical surgeries, hazardous material handling, and intricate assembly tasks, creating new opportunities in specialized industries, in turn, shaping the Articulated Robot Market trends.
Key Takeaways from this Report:
- The United States Articulated Robot Market is forecasted to hold revenue of US$ 6.6 billion by 2033.
- The Market in the United Kingdom is likely to account for a value share of US$ 1.0 billion by 2033 on a global level.
- During the forecast period, the up to 16 kg sub-segment is projected to advance at 8.2% CAGR based on payload.
- Based on function, the handling sub-segment is predicted to move forward at a rate of 8.1 % from 2023 to 2033.
- The Japan Articulated Robot Market is likely to secure a Market share of US$ 1.5 billion by 2033.
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Top Companies involved:
- ABB Ltd.
- Aurotek Corporation
- Denso Wave Incorporated
- Fanuc Corporation
- Kawasaki Heavy Industries Ltd.
- Kuka Aktiengesellschaft (Midea Group)
- Mitsubishi Electric Corporation
- Nachi-Fujikoshi Corp.
- Nimak GmbH
- Seiko Epson Corporation
- Yaskawa Electric Corporation
How Fierce Is the Competition in the Articulated Robot Industry?
The competition in the Articulated Robot industry is fierce, with numerous established robotics manufacturers and emerging players vying for Articulated Robot Market share.
Continuous advancements in technology and the growing demand for automation across industries have intensified the competition. Key players are constantly innovating and expanding their product portfolios to offer more versatile and efficient solutions.
Collaborations, strategic partnerships, and mergers and acquisitions are also prevalent strategies employed by companies to strengthen their Market position. The dynamic and evolving Marketplace for Articulated Robots reflects the relentless pursuit of excellence in this transformative industry.
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Market Segmentation:
By Payload:
- Upto 16 Kg
- 16 to 60 Kg
- 60 to 225 Kg
- More than 225 Kg
By Function:
- Handling
- Welding
- Dispensing
- Assembling
- Others
By Type:
- 4-Axis or Less
- 5-Axis
- 6-Axis or More
By Component:
- Controller
- Arm
- End Effector
- Drive
- Sensor
- Others
By End Use Industry:
- Automotive
- Electrical and Electronics
- Chemicals, Rubber, and Plastics
- Metal and Machinery
- Food and Beverages
- Precision Engineering and Optics
- Pharmaceuticals and Cosmetics
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient Market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the Market. It discloses opportunities that will favor the Market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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