LONDON--(BUSINESS WIRE)--Technavio has been monitoring the global articulated robots market since 2014 and the market is poised to grow by USD 10.9 billion during 2019-2023, progressing at a CAGR of nearly 16% during the forecast period. Request Free Sample Pages
Read the 123-page research report with TOC on "Articulated Robots Market Analysis Report by End-User (Automotive, Electrical and electronics, Heavy machinery, Metal, and Others), by Geography (APAC, Europe, MEA, North America, and South America), and Segment Forecasts, 2019 – 2023."
The market is driven by the increasing benefits of articulated robots. In addition, open-source articulated robots are anticipated to positively impact the growth of the global market.
Ongoing advances in technology, rising labor cost, and intensified competition from low-wage overseas location have led to the growing need for robotics and automation in the industrial sector. Hence, most end-user industries are extensively adopting articulated robots. These robots also provide benefits such as an enhanced quality, reliability, and performance along with a faster, precise, and more efficient assembly process. Articulated robots are preferred over substitutes like SCARA robots as they help in cutting costs and improving production efficiency. Other benefits offered by these robots include flexibility, dexterity, adaptability, and finesse. All these factors will lead to the high adoption of articulated robots, leading to market growth.
Also, the advent of open-source articulated robots will positively impact the global market. Open-source articulated robots can be used in schools to help students with their coursework and at home to execute simple chores. In addition, these robots are compatible with third-party applications, and their open development environment facilitates a variety of interacting devices. Thus, the increasing use of open-source articulated robots in various applications and sectors will help to propel market growth.
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Major Five Articulated Robots Market Companies:
ABB operates its business under various segments such as electrification products, robotics and motion, industrial automation, and power grids. The company provides a range of articulated robots based on different payloads and reach. Its key offerings include the IRB 1100 and IRB 2600ID.
FANUC operates the business under four segments, which include FA, robot, robomachine, and service. The company’s key offerings include FANUC Robot R-2000ic and FANUC Robot M-410ic.
Kawasaki Heavy Industries
Kawasaki Heavy Industries has business operations under various segments, namely ship & offshore structure, rolling stock, aerospace systems, energy system & plant engineering, motorcycle & engine, precision machinery & robots, and other. The product offered by the company is BA006N.
Midea Group (KUKA)
Midea Group (KUKA) operates its business under three segments, which include HVAC; consumer appliances; and robotics and automation systems. The company provides 5-axis and 6-axis articulated robots with varied versions for different applications. Its key offerings include the KR AGILUS and READY_2 GRIP.
Yaskawa Electric operates its businesses under the following segments: motion control, system engineering, robotics, and others. The company provides a range of high-payload, extended-reach, and ultra-maneuverable articulated robots. Its key offerings include the GP225H and SIA20F.
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Articulated Robots End-user Outlook (Revenue, USD Million, 2019 - 2023)
- Electrical and Electronics
- Heavy Machinery
Articulated Robots Regional Outlook (Revenue, USD Million, 2019 - 2023)
- North America
- South America
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