What Has Been The Evolution of the Robotic Arm Market in Recent Years?
The robotic arm market has seen considerable growth due to a variety of factors.
• The robotic arm market has shown rapid growth in recent years. It will rise from $36.93 billion in 2024 to $43.22 billion in 2025, at a compound annual growth rate (CAGR) of 17.0%.
Growth drivers include industrial automation, demand for robotics in warehouses, and the rise in advanced robotics systems.
What Are the Future Growth Projections for the Robotic Arm Market?
The robotic arm market is expected to maintain its strong growth trajectory in upcoming years.
• The robotic arm market is projected to grow to $80.82 billion by 2029, with a CAGR of 16.9%.
Growth is driven by the use of robotic arms in manufacturing for enhanced efficiency, precision, speed, and cost-effectiveness, as well as growth in e-commerce. Trends include the complexity of manufacturing processes, technological advancements, robotic arms in healthcare, and increasing technological integration.
What Are The Core Factors Supporting Growth In The Robotic Arm Market?
The expected surge in the e-commerce sector is set to fuel the development of the robotic arm market. The industry of e-commerce, which involves the online transaction of goods and services, has revolutionized the manner in which businesses and customers connect, providing easy access, global exposure, and varied product options. The escalation of e-commerce is primarily due to the extensive use of smartphones, internet connectivity, and a wide range of products available online. Robotic arms play a vital role in enhancing supply chain and logistical operations within the e-commerce sector, aiding businesses in efficiently handling inventory, lowering operating expenses, and increasing total output. For example, in February 2024, the United States Census Bureau, a government agency in the US, forecasted that e-commerce sales would hit $1,118.7 billion in 2023, a 7.6% (±1.2%) increment from 2022; whereas, total retail sales registered a 2.1% (±0.4%) growth within the same frame. In 2023, e-commerce sales made up 15.4% of all sales, a slight increase from 14.7% in 2022. Consequently, the burgeoning e-commerce sector is catalyzing the growth of the robotic arm market.
What Are The Major Segments Within The Global Robotic Arm Market?
The robotic arm market covered in this report is segmented –
1) By Type: Articulated, Cartesian, Selective Compliance Articulated Robot Arm (SCARA), Spherical Or Polar, Cylindrical, Other Types
2) By Payload Capacity: Less Than 500 Kilogram (KG), 500-3000 Kilogram (KG), 3001 Kilogram (KG) And Above
3) By Axis: 1-Axis, 2-Axis, 3-Axis, 4-Axis, 5-Axis, 6-Axis, 7-Axis
4) By Application: Materials Handling, Cutting And Processing, Soldering And Welding, Assembling And Disassembling, Other Applications
5) By End-User Industry: Automotive, Electrical And Electronics, Metals And Machinery, Plastics And Chemicals, Food And Beverages, Other End-User Industries
Subsegments:
1) By Articulated: 6-Axis Robotic Arms, 7-Axis Robotic Arms, Multi-Axis Robotic Arms
2) By Cartesian: Gantry Robots, XYZ Cartesian Robots
3) By Selective Compliance Articulated Robot Arm (SCARA): 4-Axis SCARA Robots, 5-Axis SCARA Robots
4) By Spherical Or Polar: Spherical Robots (Polar Coordinates), Polar Robotic Arms With Rotational Axes
5) By Cylindrical: Cylindrical Robotic Arms
6) By Other Types: Delta Robots, Parallel Robots, Hybrid Robotic Arms, Collaborative Robots
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How Are New Trends Impacting The Size Of The Robotic Arm Market?
Leading firms in the field of the robotic arm market are concentrating on the creation of innovative products like modular, high-performance robots. These products aim to impart flexible yet effective robotic solutions for several industrial applications, thereby increasing productivity and sustainability. These high-performance robots are made up of components that can be replaced and reconfigured to perform a variety of tasks efficiently, and have the ability to adapt their form and functionality to meet specific operational requirements. To illustrate, ABB Ltd., a Swiss engineering firm, introduced the IRB 7710 and IRB 7720 robots in May 2024. These innovative robots form part of their large modular robot portfolio and provide a 25% reduction in cycle times while maintaining first-class path accuracy of up to 0.6 mm at high speeds of 1600 mm/s. The robots can handle loads of up to 620 kg and are perfect for use in automotive, logistic, and construction sectors. They ensure enhanced productivity and energy efficiency, leading to up to 30% energy savings.
Who Are the Key Players In The Robotic Arm Market?
Major companies operating in the robotic arm market are:
• LG Electronics Inc.
• Panasonic Corporation
• Mitsubishi Electric Corporation
• ABB Ltd.
• Kawasaki Heavy Industries Ltd.
• Seiko Epson Corporation
• Omron Corporation
• FANUC America Corporation
• Yaskawa Electric Corporation
• Kuka AG
• Nachi-Fujikoshi Corp.
• Stäubli International AG
• Comau
• Universal Robots A/S
• Boston Dynamics
• SoftBank Robotics America Inc.
• Flexiv Robotics Inc.
• Franka Robotics GmbH
• Dobot
• Gridbots Technologies Private Limited
• DENSO WAVE INCORPORATED
• EVS Tech Co. LTD.
What Is The Most Dominant Region In The Robotic Arm Market?
North America was the largest region in the robotic arm market in 2023. Asia-Pacific is expected to be the fastest growing region in the market going forward. The regions covered in the robotic arm market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
