The robot arms market is anticipated to reach US$ 26.2 billion in 2023 and then grow at a CAGR of 11.4% to US$ 77.2 billion by the end of 2033. At the end of 2022, sales of robot arms made up around 67.9% of the total global robots market.
The demand for robotic arms is being driven by the growing demand for cutting-edge technology like artificial intelligence and machine learning. Sales of robot arms will be further boosted by an increase in industry need for automation.
Download Sample Copy of This Report:
https://www.factmr.com/connectus/sample?flag=S&rep_id=8272?AS
Key pioneers
- ABB
- Amazon
- DENSO Robotics
- EVS TECH CO., LTD
- FANUC Corporation
- KUKA AG
- Omron Corporation
- Stäubli International AG
- Universal Robots A/S
- Yaskawa Electric Corporation
Market Development
Companies are continuously launching new robot arms with advanced technologies such as artificial intelligence and machine learning. With increasing number of manufacturers ramping up AI for robot arms for smart manufacturing, the market will witness a substantial growth in the near future.
Manufacturers of robot arms are developing robot arms with advances in artificial intelligence (AI), machine learning (ML), Internet of Things (IoT) and big data. For instance, in November 2022, Amazon launched “Sparrow”, a robotic arm that can perform repetitive warehouse tasks. Sparrow incorporates artificial intelligence and computer vision to move products before they are packaged.
Short Term: Pandemic-related labour scarcity to increase robot arm sales (2023 Q1 to 2026).
Medium Term (2026-2029): Increasing R&D expenditures and the creation of novel technologies like collaborative robots and robots with AI capabilities would aid in the growth of robot arm sales.
Long Term (2029-2033): The emergence of Industry 5.0 will enhance the market's long-term growth.
Industry Research
- By Type :
- Cartesian Robotic Arms
- Cylindrical Robotic Arms
- Polar/ Spherical Robotic Arms
- SCARA Robotic Arms
- Collaborative Arms
- Articulated Arms
- Delta Robots
- By Application :
- Palletizing
- Inspection
- Machining
- Material Handling
- Painting
- Pick and Place
- Surgical
- Welding
- Others
- By End Use Industry :
- Aerospace
- Automotive
- Food and Beverages
- Healthcare
- Industrial Machinery
- Logistics & Supply Chain
- Pharmaceuticals
- Semiconductor and Electronics
- Other End Use Industries
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
Some of the important questions covered in this study are as follows:
- What are the prominent growth factors that will harness growth for the Robot Arms Market during the forecast period?
- Which end-use industry will garner considerable growth for the Robot Arms Market?
- Which region will emerge as a champion growth-contributor during the assessment period?
- What are the obstacles surrounding the Robot Arms Market?
Get Customization on this Report for Specific Research Solutions:
https://www.factmr.com/connectus/sample?flag=RC&rep_id=8272?AS
