Rockville, Feb. 01, 2023 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, the global robot arms market is estimated to be valued at US$ 26.2 billion in 2023 and is expected to expand at an impressive CAGR of 11.4% during the forecast period.
The use of robot arms is unfolding across diverse end use industries such as manufacturing, healthcare, logistics, and supply chain and retail businesses. With mounting integration of technologies such as machine learning and artificial intelligence, the demand for robot arms will witness significant growth over the forecast period.
Industrial robotic arms are aiding companies reach higher levels of productivity through enhanced precision, efficiency and speed across a variety of applications.
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Key Takeaways from Market Study
- The global robot arms market is projected to expand at an impressive CAGR of 11.4% and be valued at US$ 77.2 billion by 2033.
- The market witnessed 6.2% CAGR for the period of 2018-2022.
- Under application segment, pick and place robot arms are predicted to dominate the market and are estimated to be valued at US$ 5 billion in 2023.
- The U.S. is expected to dominate the market share in North America by likely accounting for 90.1% of its market share in 2023.
- Use of robot arms in healthcare end use industry is likely to represent 16.3% market share in 2023.
- Collaborative type robot arms is predicted to have a market valuation of US$ 5.5 billion in 2023.
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.
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Key Companies Profiled
- ABB
- Amazon
- DENSO Robotics
- EVS TECH CO., LTD
- FANUC Corporation
- KUKA AG
- Omron Corporation
- Stäubli International AG
- Universal Robots A/S
- Yaskawa Electric Corporation
In January 2022, Fanuc announced the launch of M-1000iA industrial robotic arm with a payload of 1,000 kg. Typical heavy payload robot arms with a parallel-link mechanism are unable to stretch the arms upright or spin them backwards, which is possible by M-1000iA. The robotic arm has integrated iRVision, force sensing, and Zero Down Time, (ZDT); the same intelligence and reliability of Fanuc Robots.
Leading manufacturer Dobot, announced the launch of two collaborative arms in November 2022 as a part of its new Nova Series aimed at the retail and service markets. The Nova 2 has a payload capacity of 2 kg and Nova 5 has a payload capacity of 5 kg. The Nova series was launched in response to labour shortages and rising costs aimed at the retail and service markets.
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Segmentation of Robot Arms 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
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global robot arms market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of type (cartesian robotic arms, cylindrical robotic arms, polar/ spherical robotic arms, SCARA robotic arms, collaborative arms, articulated arms, delta robots), application (palletizing, inspection, machining, material handling, painting, pick and place, surgical, welding, others), end use industry (aerospace, automotive, food and beverages, healthcare, industrial machinery, logistics & supply chain, pharmaceuticals, semiconductor and electronics, other end use industries) across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and Middle East & Africa).
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