Articulated Robot Market is expected to reach staggering market value by 2023 (SARS-CoV-2, Covid-19 Analysis)

Articulated Robot Market

The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Articulated Robot Market. The growth sectors of the Articulated Robot Market are identified with precision for a better growth perspective.

According to Market Research Future, the global articulated robot market is segmented based on component, payload capacity, application, and industry vertical.

By component the global articulated robot market is segmented based on software, hardware and services. The hardware segment is further segmented into controller, arm, drive, end-effector and sensor. The controller and sensor subsegments are expected to contribute the highest to the hardware subsegment as there is a growing demand for improvement in bin picking application of articulated robots.

The hardware sub-segment is expected to contribute significantly to the component segment during the forecast period. High demand for articulated robot for industrial production is expected to boost this segment during the forecast period.

By payload capacity the global articulated robot market is segmented into low, medium, high, and heavy.

The heavy payload subsegment is expected to dominate the payload segment due to the rising demand for automation in manufacturing of heavy machinery. Low payload capacity sub-segment is expected to contribute significantly to the payload capacity segment during the forecast period due to increase in adoption of articulated robots in electronic manufacturing and food and beverages industry.

By application the global articulated market is segmented into material handling, welding, load/unload, bin picking, assembly, processing, washing, painting, and others.

The assembly sub segment is expected to contribute significantly to the growth of application segment. The increasing productivity and lower costs of articulated robots compared to manual labor in assembly lines is driving the growth of this segment in the global articulated robot market.

By industry vertical the global articulated robot market is segmented into automotive, aerospace, EMS (electronic manufacturing services), food & beverages, metals & machinery, chemicals, rubber, & plastics, precision engineering & optics, pharmaceuticals & cosmetics, and others. Automotive sub-segment is expected to dominate the industry vertical segment for the global articulated robot market. The rising continuous demand for cars and other automotive around the world and the growing adoption of automation in their production is driving the growth of this sub- segment

Industry news

April 2018, Fanuc Corporation has developed new AI function in collaboration with Preferred Networks, Inc. which apply machine learning and deep learning to its Robot and Robomachine products including articulated robots.

More Information@

Global Articulated Robot Market Research report by Forecast 2023 | MRFR

Articulated Robot Market is expected to grow at approx. high CAGR | Articulated Robot Market…

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