Robotic Arm Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

The Business Research Company's Robotic Arm Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LANDON, GREATER LANDON, UNITED KINGDOM, September 9, 2024 /EINPresswire.com/ -- The robotic arm market has experienced robust growth in recent years, expanding from $31.66 billion in 2023 to $36.93 billion in 2024 at a compound annual growth rate (CAGR) of 16.6%. The growth in the historic period can be attributed to industrial automation increasing the demand for robotic arms, rising demand for robotics, warehouses to streamline processes, and demand for advanced robots.

What Is The Estimated Market Size Of The Global Robotic Arm Market And Its Annual Growth Rate?
The robotic arm market is projected to continue its strong growth, reaching $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.

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Growth Driver Of The Robotic Arm Market
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.

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Who Are the Leading Competitors in the Robotic Arm Market Share?
Key players in the robotic arm market include 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.

Which Key Trends Are Driving Robotic Arm Market Growth?
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.

How Is The Global Robotic Arm Market 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

Geographical Insights: North America Leading 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.

Robotic Arm Market Definition
A robotic arm is a mechanical device typically designed to perform tasks that require precision and dexterity, mimicking the movements of a human arm. It consists of several segments connected by joints, allowing it to articulate and maneuver in various directions.

Robotic Arm Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
•Macroeconomic factors affecting the market in the short and long run
•Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global robotic arm market report covering trends, opportunities, strategies, and more
The Robotic Arm Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on robotic arm market size, robotic arm market drivers and trends, robotic arm market major players, robotic arm competitors' revenues, robotic arm market positioning, and robotic arm market growth across geographies. The robotic arm market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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