Articulated Robot Market to Grow with a CAGR of 16.48% through 2029

Increasing demand for automation in industries, driven by efficiency, productivity, and technological advancements, propel the market during forecast period. 

According to TechSci Research report, “Articulated Robot Market - Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029F". Global Articulated Robot Market was valued at USD 23.27 Billion in 2023 and is expected to register a CAGR of 16.48% through 2029. 

In the current business landscape, the quest for heightened efficiency and productivity is a pivotal driver for the articulated robot market. As companies across various industries endeavor to streamline operations and maintain a competitive edge in the global market, automation stands out as an essential strategy. Articulated robots present a highly versatile solution, optimizing manufacturing processes to achieve increased throughput, consistent quality, and substantial reductions in operational costs. The rapid advancements in technology, particularly in artificial intelligence (AI), machine learning (ML), and sensor technology, have significantly enhanced the capabilities of articulated robots. These technological improvements have made robots more adaptable, intelligent, and capable of performing complex tasks with unparalleled precision and reliability. The integration of AI and ML allows these robots to learn and adapt to new tasks, improving their efficiency and effectiveness in dynamic manufacturing environments.

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Based on function, In 2023, the handling segment secured the largest market share within the global articulated robot market. This achievement highlights the crucial role of handling robots across a multitude of industries. Their versatility and efficiency in tasks such as material handling, packaging, and logistics have made them indispensable in modern manufacturing and industrial processes, leading to their widespread adoption. The dominance of the handling segment can be attributed to several growth drivers. A primary factor is the increasing demand for automation in material handling operations. Industries are constantly seeking to enhance productivity and reduce operational costs. Handling robots provide a solution to these challenges by performing repetitive and precise tasks efficiently, thus streamlining operations in warehouses, factories, and distribution centers.

Technological advancements have also played a significant role in bolstering the handling segment's market share. Innovations in sensor technology, machine learning, and artificial intelligence have significantly enhanced the capabilities of handling robots. These advancements enable robots to execute complex tasks with greater precision and reliability, such as sorting, palletizing, and de-palletizing, which are critical for maintaining efficient material flow in industrial environments. The handling segment's broad applicability across various industries further contributes to its market leadership. In the automotive sector, handling robots manage components and assemblies with high precision and efficiency. In the electronics industry, they handle delicate parts, minimizing the risk of damage and ensuring high production quality. Similarly, in the food and beverage industry, these robots optimize packaging and handling processes, adhering to strict hygiene standards and ensuring product safety.

Cost-effectiveness is another compelling reason for the handling segment's prominence. While the initial investment in handling robots may be substantial, the return on investment is considerable due to increased productivity, reduced labor costs, and minimized errors. Companies benefit from faster production cycles and higher output quality, which translates to better financial performance and a competitive edge in the market. Handling robots also play a vital role in enhancing workplace safety. By automating hazardous and physically demanding tasks, these robots help reduce workplace injuries and accidents. This not only ensures the well-being of employees but also lowers costs associated with workers' compensation and downtime, making handling robots an attractive investment for improving industrial safety standards. Labor market dynamics have significantly influenced the growth of the handling segment. With a declining availability of skilled labor and rising labor costs, companies are increasingly adopting automation to fill the gap. Handling robots, capable of operating continuously without fatigue, provide a reliable alternative to human labor, addressing the challenges posed by labor shortages and demographic shifts.

The customization and flexibility offered by modern handling robots also contribute to their leading market share. These robots can be programmed and reconfigured to handle different tasks and adapt to changing production requirements. This adaptability is especially valuable in industries with high variability in production volumes and product types, enabling companies to maintain operational efficiency and agility. Sustainability considerations are driving the adoption of handling robots as well. These robots promote more efficient use of resources and energy in manufacturing processes. By optimizing material handling and reducing waste, handling robots help companies achieve their sustainability goals, reduce their environmental footprint, and comply with regulatory requirements, further solidifying their market position.

The handling segment is poised for continued growth and innovation. Ongoing advancements in robotics technology, such as the integration of advanced AI and machine learning algorithms, will further enhance the capabilities and applications of handling robots. As industries continue to embrace automation to meet the evolving demands of the market, the handling segment is expected to maintain its dominant position and drive the overall growth of the global articulated robot market.

Major companies operating in Global Articulated Robot Market are:

• ABB Ltd.
• FANUC Corporation
• KUKA Aktiengesellschaft
• Yaskawa Electric Corporation
• Kawasaki Heavy Industries, Ltd.
• DENSO Corporation
• Seiko Epson Corporation
• Mitsubishi Electric Corporation

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““The Global Articulated Robot Market is expected to rise in the upcoming years and register a significant CAGR during the forecast period. The global Articulated Robot market offers significant growth opportunities, driven by the increasing automation across industries such as automotive, electronics, and manufacturing. Key factors propelling market expansion include advancements in robotics technology, demand for improved operational efficiency, and the need for precise and flexible production processes. Additionally, the rise of Industry 4.0 and smart manufacturing initiatives further bolster market demand. As companies seek to enhance productivity and reduce labor costs, the adoption of articulated robots is set to accelerate, positioning providers of innovative robotic solutions to capture substantial market share in this dynamic landscape. Therefore, the Market of Articulated Robot is expected to boost in the upcoming years”, said Mr. Karan Chechi, Research Director of TechSci Research, a research-based management consulting firm.        .

“Articulated Robot Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, By Payload (Up to 16.00 kg, 16.01–60.00 kg), By Function (Handling, Welding, Dispensing, Assembly), By Industry (Automotive, Electrical & Electronics, Metal & Machinery, Food & Beverages), By Region & Competition, 2019-2029F”, has evaluated the future growth potential of Global Articulated Robot Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Articulated Robot Market.

 

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