Technavio analyzes that the Articulated Robots Market is expected to grow at a CAGR of 16.8% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 15914.6 million.There are various factors that contribute to the growth of the market. Articulated robots, renowned for their versatility and dexterity, are experiencing significant growth in various industries. These robots offer numerous advantages, including increased productivity, improved precision, and enhanced safety. Their ability to move and manipulate objects in complex environments makes them an indispensable tool for automating manufacturing processes, assembly lines, and material handling tasks. Moreover, the continuous advancements in artificial intelligence and robotics technology are further expanding the scope of applications for articulated robots, ensuring their continued relevance in the modern industrial landscape.
The automotive sector has been a significant and swift adopter of articulated robots, with this trend persisting in 2023. Compared to traditional pneumatic tooling and hard fixtures, articulated robots offer increased affordability and reliability. These robots exhibit impressive speed and precision capabilities, making them indispensable in various processes of automotive manufacturing. Key applications of articulated robots in the automotive industry encompass welding, palletizing, bearing assembly, brake line assembly, fuel injector assembly, mirror and glass assembly, and painting. The global market for articulated robots in the automotive industry is projected to register a robust year-on-year growth rate throughout the forecast period. Microelectronics, heavy parts handling, and labor-intensive tasks are other sectors that benefit from the adoption of articulated robots.
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Articulated Robots Market Segmentation
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The Articulated Robots market encompasses Industrial Robots, specifically those with articulated structures, which are transforming automation across various industries. With versatile Payload capacity, these robots excel in tasks like Arc welding and Spot welding. SMEs benefit from Low-cost robotic systems, while Collaborative robots (cobots) enhance safety. IIoT integration and Energy-efficient designs advance automation in sectors like Manufacturing, Agriculture, Logistics, and Harvesting. Labor-intensive tasks in Material handling, Welding, Painting, Palletizing, Aerospace, Oil and Gas, and IoT are being optimized through this technology.
The Articulated Robots market is a segment of the larger Industrial Machinery and Supplies and Components market, which encompasses businesses manufacturing industrial machinery and components for various industries. According to Technavio's market analysis, the global Industrial Machinery and Supplies and Components market size is determined by the combined revenue generated by these manufacturers. Key growth drivers for this market include increasing industrial output in process and discrete industries, leading to capacity expansions in sectors such as energy, chemicals and petrochemicals, pulp and paper products, and processed food and beverages, particularly in developing countries. Within the Robotics sector, Articulated Robots find extensive applications in arc welding and spot welding, as well as handling functions. Small and Medium Enterprises (SMEs) are also increasingly adopting these robots to enhance productivity and improve operational efficiency.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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