Robotic Arms Market is projected to grow at a CAGR of 31.0% during the forecast period: MRFR

Market Research Future (MRFR) has published on the “Global Robotic Arms Market”.

The Robotic Arms Market is predicted to reach USD 55.4 billion by 2032, registering a 31.0% CAGR during the forecast period, 2023–2032. In this report, Market Research Future (MRFR) includes the segmentation and dynamics of the market to offer a better glimpse of the market in the next few years. The rapid technological advancements in recent years have created numerous opportunities for the Robotic Arms market. These robotic arms can perform various tasks, such as picking and placing objects, welding, painting, and assembly, with greater precision, speed, and efficiency than humans. One of the significant advantages of robotic arms is that they can work around the clock without getting tired or making mistakes, which can lead to increased productivity and cost savings for businesses. Furthermore, advances in artificial intelligence (AI) and machine learning (ML) have enabled robotic arms to learn and adapt to new tasks quickly, making them more versatile and flexible. The rise of Industry 4.0, which involves the integration of advanced technologies such as AI, the Internet of Things (IoT), and cloud computing, is also creating new opportunities for the robotic arm market.

Over the last few years, there has been a shift from industrial robot arms to collaborative robot arms. This change is mainly due to the fact that while robot arms possess the necessary dexterity, they lack the intelligence and versatility that humans have in performing complex tasks. Collaborative robots have been adopted more widely because they complement human labor, resulting in increased productivity. However, Amazon's Sparrow, an industrial robot arm equipped with artificial vision and AI, was launched in November 2022. Sparrow is capable of handling millions of packages, including those it has never seen before. What's interesting is that it uses an industrial robot arm rather than a collaborative one as its primary actuator. This is because Sparrow is designed to completely replace a human operator rather than assist one.

Segmental Analysis

The scope of the global Robotic Arms market has been segmented based on by type, Payload Capacity, Axes, Application, Industry Vertical.

Based on type, the global Robotic Arms market is segmented into includes Articulated, Cartesian, SCARA, Spherical/Polar, Cylindrical, Delta. The SCARA segment is expected to exhibit the fastest CAGR during the projected period. The factors affecting the growth of this segment includes flexibility and unique configuration design uses in various industrial applications such as assembly, packaging, and material handling.

Based on Payload Capacity, the global Robotic Arms market is segmented into Less Than 500 kg, 500-1000 kg, 1001-2000 kg, 2000 kg above. The 500-1000 kg segment will experience the highest CAGR over the forecasted period. The need for larger payload capacity in heavy-duty industrial applications includes in automotive, construction, and manufacturing industries is propelling the segment demand in future.

Based on Payload Capacity, the global Robotic Arms market is segmented into 1-Axis, 2-Axis, 3-Axis, 4-Axis, 5-Axis, 6-Axis, 7-Axis. The 6-Axis segment will experience the highest CAGR over the forecasted period. Industrial automation is boosting significantly across the globe and business are shifting their focuses from human interactions to automation for cost-reductions and operational efficiency purposes. Thus, in turn, Six Axis robots are emerging rapidly owing to the benefits provided by these robots such as part picking & handling, painting, material removal in various industrial sectors.

Based on Application, the global Robotic Arms market is segmented into 1 Materials Handling & Transportation, Assembling and Disassembling, Soldering and Welding, Cutting and Processing, Bonding and Sealing, Bin Picking, Sorting, Ambient Assisted Living, Others. The Bin Picking segment will experience the highest CAGR over the forecasted period.

Based on Industry Verticals, the global Robotic Arms market is segmented into Automotive, Electrical and Electronics, Food and Beverages, Manufacturing, Retail, Logistics & E-commerce, Healthcare & Medical, Household/Residential, Education, Agriculture, Waste Management & Recycling, and Others. Robotic arms are becoming increasingly popular in the retail industry, particularly for tasks related to inventory management and customer service. In November 2022, Dobot introduced two collaborative robot arms into its new Nova Series, which is aimed towards the retail and service areas. The payload capacity of the Nova 2 and Nova 5 is 2 kg and 5 kg respectively.

Access full report @ https://www.marketresearchfuture.com/reports/robotic-arms-market-11971

Regional Analysis

Geographically, the global Robotic Arms market has been segmented into North America, Europe, Asia-Pacific, Middle East & Africa and South America.

During the forecast period, the Asia Pacific region held the largest share of revenue in 2022 and is expected to exhibit the fastest CAGR. The Asia-Pacific region is experiencing a significant shift in the labor market, with a shortage of skilled workers in many industries. Robotics arms are becoming an attractive alternative to traditional manual labor, particularly in countries like South Korea, where the aging population and high labor costs are driving the adoption of automation. For example, Hyundai Motor Company has deployed more than 800 robotics arms in their car manufacturing plants to reduce production time and costs. Furthermore, the regulatory environment in the Asia-Pacific region is becoming more supportive of robotics and automation. For example, the Chinese government's Made in China 2025 initiative aims to increase the use of automation and robotics in manufacturing to improve productivity and reduce dependence on manual labor. Similarly, the Japanese government is promoting the use of robots in healthcare, construction, and disaster response.

Key Players

The key players in the global Robotic Arms market ABB Group (Switzerland), Yaskawa Electric Corporation (Japan), KUKA AG (Germany), Fanuc Corporation (Japan), Kawasaki Heavy Industries, Inc. (Japan), Mitsubishi Electric Corporation (Japan), Denso Wave (Japan), Nachi-Fujikoshi Corp. (Japan), Universal Robots A/S (Denmark), Omron Corporation (Japan), Stäubli Corporation (Switzerland), Flexiv Ltd. (US), ASIMOV Robotics Pvt. Ltd. (India), Gridbots Technologies Private Limited (India), Dobot.cc (China), Seiko Epson Corporation (Japan)