Robotic Arm Market 2024 : Industry Analysis, Trends, Segmentation, Regional Overview And Forecast 2033

The Robotic Arm Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Robotic Arm Global Market Report 2024, The robotic arm market size is expected to see rapid growth in the next few years. It will grow to $69.16 billion in 2028 at a compound annual growth rate (CAGR) of 17.0%. The growth in the forecast period can be attributed to robotic arms used in manufacturing, enhanced efficiency, precision, and speed in production processes, increasing productivity and cost-effectiveness, automation in various sectors, including automotive, and growth in e-commerce. Major trends in the forecast period include the growing complexity of manufacturing processes, technological advancements in robotics, advanced technological infrastructure, advancement of robotic arms in healthcare, and increasing technological integration.

The expansion of the e-commerce industry is expected to propel the growth of the robotic arm market going forward. The e-commerce industry refers to the buying and selling goods and services over the internet. It has transformed how businesses and consumers interact, offering convenience, accessibility, and a global reach. The growth of e-commerce is driven by the widespread use of smartphones, internet access, and a broad selection of online products. Robotic arms are crucial in optimizing supply chain and logistics operations within the e-commerce industry, enabling businesses to manage inventory more efficiently, reduce operational costs, and enhance overall productivity. For instance, in February 2024, according to the United States Census Bureau, a US-based government agency, in 2023, e-commerce sales were projected to reach $1,118.7 billion, marking a 7.6% (±1.2%) increase from 2022, while total retail sales saw a 2.1% (±0.4%) rise over the same period. In 2023, e-commerce sales constituted 15.4% of total sales, compared to 14.7% in 2022. Therefore, the expansion of the e-commerce industry is driving growth in the robotic arm market.

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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

Major companies operating in the robotic arm market are focusing on developing innovative products such as collaborative robots (cobots) to gain a competitive advantage. Cobots are designed to work alongside human operators, enhancing productivity and efficiency in various industrial settings. For instance, in 2021, Universal Robots, a Denmark-based industrial automation company, launched the UR20 cobot, featuring a 20kg payload capacity and a reach of 1.75m. The UR20 boasts advanced safety features, including force-sensing technology and intuitive programming, making it suitable for various applications, from material handling to machine tending. The UR20 is designed to provide up to 30% more speed and torque, advanced motion control capabilities, and a first-class user experience. Its 20kg payload and 1.75m reach make it an ideal match for applications ranging from palletizing to part handling and assembly.

The robotic arm market report table of contents includes:

1. Executive Summary

2. Robotic Arm Market Characteristics

3. Robotic Arm Market Trends And Strategies

4. Robotic Arm Market - Macro Economic Scenario

5. Global Robotic Arm Market Size and Growth
..............

32. Global Robotic Arm Market Competitive Benchmarking

33. Global Robotic Arm Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Robotic Arm Market

35. Robotic Arm Market Future Outlook and Potential Analysis

36. Appendix

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