Articulated Robot Market 2019 Emerging Technologies, Regional Trends, Segmentation, Development History, Competitive Landscape by Forecast to 2022
Market Highlights:
Articulated robot market are humanoid robots whose arms have a couple of rotary joints. These robots are specially designed to make the industrial manufacturing process fast and precise. They are used across the industries in various applications, including material handling, welding, load/unload, lifting, assembly, and processing, among others.
Offering production efficiency to industries with their capability to handle object that is too heavy and unsafe for humans to handle articulated robot market perform all complex task on behalf of humans. Articulated robots offer more accurate outputs than manual labor; as a result, the uptake of articulated robots in production has led to an increase in product quality.
Articulated robot market also offer reduced production cost as overall cost for implementation of articulated robots is less compared to manual labor. Due to their flexibility, it is easier to do process changeovers with articulated robots. Resultantly, the global articulated robot market is growing rapidly. Moreover, the increasing adoption of articulated robots in small and medium enterprises is escalating the market on the global platform.
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Considering the enormous traction, the market is witnessing currently, Market Research Future (MRFR) in its recently published study report asserts that the global articulated robot market is projected to garner exponential accruals by 2023, registering a staggering CAGR throughout the forecast period (2018 – 2023).
Additional factors that are contributing to the growth of the market include the increasing demand for automation across the industries such as EMS (electronic manufacturing services), automotive, aerospace, pharmaceuticals & cosmetics, and others. Also, the industrial revolution 4.0 is set to boost the global articulated robot market.
On the flipside, factors such high initial cost of the articulated robots and complexities of their installation are restricting the growth of the market. Nevertheless, growing applications of articulated robots in autonomous warehouse and logistics industry would support the growth of the articulated robot market.
Major Players:
Key players leading the global Articulated Robot Market include Fanuc Corporation (Japan), ABB (Switzerland), Yaskawa Electric Corporation (Japan), Mitsubishi Electric Corporation (Japan), Kawasaki Heavy Industries, Ltd (Japan), Seiko Epson Corporation (Japan), OMRON Corporation (Japan), Toshiba Machine Co., Ltd (Japan), KUKA Aktiengesellschaft (Germany), Aurotek Corporation (Taiwan), Yamaha Motor Co., Ltd(Japan), Cassioli S.r.l (Italy), Denso (Japan), Daihen Corporation (Japan), Engel (Austria), Stubli International (Switzerland), Nachi-Fujikoshi (Japan), SIASUN (China), GSK (UK), HIWIN (Taiwan), and Triowin (China) among others.
Global Articulated Robot Market – Segmentation
For the better understanding of the report, the market is segmented into five key dynamics:
By Component: Hardware, Software, and Services.
By Payload Capacity: Low, Medium, High, and Heavy.
By Application: Material Handling, Welding, Load/Unload, Bin Picking, Assembly, Processing, Washing, and Painting among others.
By Industry Vertical: Automotive, Aerospace, Food & Beverages, Metals & Machinery, Chemicals, Rubber, & Plastics, Precision Engineering & Optics, and Pharmaceuticals & Cosmetics, among others.
By Regions: Asia Pacific, North America, Europe, and Rest-of-the-World.
Global Articulated Robot Market – Regional Analysis
The Asia Pacific region heading with the huge advancement in robotics dominates the global articulated robot market. The presence of key players in the region such as Yaskawa, Fanuc, and Toshiba acts as a key tailwind pushing the growth of the market. Besides, factors such as the growing industrialization and production, especially in countries such as China and India are driving the growth of the articulated robot market in the region.
Rapidly emerging countries in the APAC region such as India and China are increasingly investing in the development of these robots and the manufacturing processes. India has the maximum potential to grow during the forecast period. Furthermore, factors such as the rapid economic growth increased R&D activities, and the demand for new autonomous technology from the burgeoning sectors such as automotive and aircraft are propelling the regional market.
The articulated robot market in the North American region accounts for the second-largest market, globally. Factors such as the increasing development in automation and high adoption of automation in production units in countries, especially in the US and Canada are driving the growth of the articulated robot market in the region.
Increasing demand for the articulated robot from the logistics industry and increasing focus on enhancing communication capabilities, especially in the defense sector drive the growth of the regional market. The US accounts for not only the leading market in the region but also the largest revenue generator in the global articulated robot market. Moreover, the presence of major robotic players in the US has been helping the regional market to become more dominating as compared to other regions.
European articulated robot market has been emerging as a promising market, globally. The presence of major players like ABB has led to the growth of the articulated robot market in this region. Moreover, increasing activities of R&D, modifications of manned & unmanned military aircraft, and weapons systems are some of the key forces driving the growth of the market.
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Global Articulated Robot Market – Competitive Analysis
Highly competitive, the articulated robot market appears to be fragmented due to the presence of several well-established players. These players incorporate strategic initiatives such as acquisition, collaboration, partnership, expansion, and product/ technology launch in order to maintain their positions and to gain a competitive advantage in this market.
These players focus on new product development initiatives and geographical expansion. The global articulated robot market is anticipated to witness relentless innovations and development of new products eventually result in intense competition among the manufacturers.
Industry/ Innovation/ Related News
May 20, 2019 —– Halodi Robotics (the US), a leading robotic technology company displayed its self-balancing wheeled humanoid – EVE r3 at the International Conference on Robotics and Automation. Capable of performing a variety of tasks with its two articulated arms the new robot is specially designed made to help scientists and seniors. The successor of EVE r3, although may find use in applications such as home care for the elderly.
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