Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
---|---|---|---|
USD 11.29 Billion | USD 21.37 Billion | 6.6% | 2023 |
FrequentlyAsked Questions
Growing automation investment in various industries and rising demand from small and medium-sized enterprises in developing countries are significantly influencing the growth of the global articulated robot market.
According to Zion Market Research, global demand for articulated robot market is expected to generate revenue of around USD 39 Billion by end of 2026, growing at a CAGR of around 17.2% between 2020 and 2026.
Asia Pacific dominated the market in 2019. It is due to higher adoption of articulated robots for a multitude of industrial applications by countries such as Japan, India, South Korea, and China is leading to the growth of the articulated robot market. Moreover, the low production cost encourages different manufacturers to set up their manufacturing units in this region.
Some main participants of the articulated robot market are ABB Ltd., American Robot Corporation, Aurotek Corporation, Denso Wave Incorporated, Fanuc Corporation, Kawasaki Heavy Industries Ltd., Kuka Aktiengesellschaft (Midea Group), Mitsubishi Electric Corporation, Nachi-Fujikoshi Corp., Nimak GmbH, Seiko Epson Corporation, Adept Technology Pvt. Ltd., and Yaskawa Electric Corporation, among others.
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