Robotic Arm Market Size (2023-2030)

The Global Robotic Arm Market was estimated to be worth USD 26.29 Billion in 2022 and is anticipated to reach a value of USD 73.43 Billion by 2030, growing at a fast CAGR of 13.7 % during the forecast period 2023-2030.

A robotic arm is a mechanical device that assists in various operations by mimicking human movements. Its components include several joints, links, actuators, and sensors that perform various tasks with precision. They are widely used in industrial automation, medical applications, space and technology, and other fields. Recent developments in technology have induced robot manufacturers to incorporate programming in robotic arms for achieving better efficiency. Moreover, due to their ability to automate repetitive tasks, they are widely used for material handling, assembly lines, pick and place operations, surgery, and others. Furthermore, rising demand for agile and automated technologies have boosted the demand for robotic arm in the market.

Global Robotic Arm Market Drivers:

Rising demand for industrial automation boosts the demand for the robotic arm market.

The growing popularity of automated technologies has enabled industries to complete tasks efficiently, quickly, and error-free. These technologies include robotics, which automates manufacturing and industrial processes and helps companies achieve higher productivity. Moreover, compared to humans, robots do not get tired and can work for longer hours efficiently leading to increased production rates and higher productivity. This further saves labour costs. Additionally, robotic arms provide consistency and flexibility in various tasks such as in manufacturing systems, processing facilities, packaging and assembling facilities, and others. They are also capable of withstanding extreme temperature and environmental conditions, hence reducing occupational injuries.

Technological advancements in robotics drive the demand for robotic arms in the market.

Technological advancements in robotics have leveraged industrial operations and helped in achieving higher productivity. These include the use of advanced sensors in robotic arms that enable them to collect information, interact with the environment, analyze surrounding objects, and perform tasks with precision. These sensors include proximity sensors, force sensors, and tactile sensors. Furthermore, the infusion of AI and ML enabled these robotic arms to position and move properly and adapt to the environment based on the data gained through analysis. Moreover, advanced AI features such as machine vision, object recognition, path planning, and autonomous decision-making allow robotic arms to function efficiently. In addition, recent trends in AR/VR technology have made it easier for operators to monitor and control robotic arms’ actions. Additionally, portable and lightweight robotic arms have enhanced the arm’s mobility and speed and provided energy and cost-efficient solutions to various industries.

Global Robotic Arm Market Challenges:

Expensive deployment and investment costs can dampen the growth of robotic arms in the market. Robotic arms are advanced and specialized devices that can be expensive to purchase and integrate into various systems, especially in developing countries.

Furthermore, periodic maintenance costs and the absence of skilled tech personnel for programming and operating the robots can reduce the demand for robotic arms in the market.

Global Robotic Arm Market Opportunities:

The Global Robotic Arm Market is anticipated to deliver lucrative opportunities for businesses, which include acquisitions, partnerships, collaborations, product launches, and agreements during the forecasted period. Furthermore, the increasing demand for task automation by various industries and the rising demand for precision and accurate technologies are predicted to develop the market for Robotic arms and enhance its future growth opportunities.

COVID-19 Impact on the Global Robotic Arm Market:

The pandemic had a significant impact on the robotic arm market. Due to the closure of various industries and factories, there was a decline in demand for robotic arms. However, it was increasingly demanded by the healthcare sector in contactless handling of medicinal goods, equipment, labelling, sanitization, patient care, and others.

Global Robotic Arm Market Recent Developments:

• In May 2023, Amber Robotics launched its first product called Lucid-1. It is a portable robotic arm with AI intuitive mover that can speed up operations in manufacturing, healthcare, and service industries. Moreover, it is a lightweight robotic arm, weighing less than 3kg, allowing greater agility and flexibility.
• In March 2023, Pickle launched a truck unloading robotic arm. The arm is equipped with a Kuka arm, an off-the-shelf heald, a foam-tipped vacuum head, a pneumatic suction for picking objects, and an onboard vision system and AI that can determine which box to pick next.

ROBOTIC ARM MARKET REPORT COVERAGE:

Global Robotic Arm Market Segmentation:

Global Robotic Arm Market Segmentation: By Payload Capacity

• Light Payload Capacity (Less than 500Kg)
• Medium Payload Capacity (500-3000Kg)
• Heavy Payload Capacity (3000Kg and above)

Based on market segmentation by payload capacity, heavy payload capacity (3000 kg and above) occupies the highest share in the market. These robotic arms are specifically designed for heavy industrial applications where large and heavy objects need to be moved or manipulated such as in the automotive sector, construction works, heavy machinery handling, load-lifting, welding large components, aerospace manufacturing and equipment installation, demolishing large structures, and others.

The medium payload capacity (500-3000kg) is the fastest-growing segment during the forecast period. These robotic arms are used in moderate tasks, which involve smaller or comparatively lighter objects. This includes precision assembly, laboratory automation, material handling, packaging, painting, welding car parts, palletizing, and others. Moreover, due to their lightweight size and flexibility, they are popularly used in every industry.

Global Robotic Arm Market Segmentation: By Type

• Cartesian Robotic Arm
• SCARA Robotic Arm
• Articulated Robotic Arm
• Delta Robotic Arm
• Cylindrical Robotic Arm
• Others

Based on market segmentation by type, articulated robotic arm occupies the highest share of the market. These robotic arms have rotary joints that enable multiple degrees of freedom, enabling them to move arms like a human. Moreover, due to their flexible structure and versatility, they can be moved in any direction and space and hence are widely used in various industries such as welding, painting, material handling, manufacturing, electronics assembling, and others. Additionally, they are equipped with gripers, welding torches, cameras, and other tools that make them adaptable to a wide number of applications.

The delta robotic arm segment is the fastest-growing segment during the forecast period. These robots have a unique design as they are equipped with parallel multiple arms attached to a common base making them a faster and more efficient solution in various industries. They are used in packaging, food-processing, and electronics assembly industries where high speed and precision are crucial. Moreover, they are also used to handle light payloads such as picking and sorting objects on conveyor belts.

Global Robotic Arm Market Segmentation: By End-Use Industry

• Pharmaceuticals
• Automotive
• Industrial
• Food & Beverage
• Space & Technology
• Aerospace
• Others

Based on market segmentation by end-use industry, the industrial segment occupies the highest share of the market. Robotic arms are most often used in manufacturing, assembly, and material handling tasks in the industrial sector due to their ability to automate repetitive tasks, precision handling, and speed. Moreover, some robotic arms are equipped with vision systems and sensors that allow them to perform quality inspection tasks on products such as measuring the dimensions of products, ensuring their consistency, and others. In addition, they are widely used for packaging and palletizing industrial products into stack boxes and containers, thus completing the task with speed and accuracy. Further, some robotic arms are also used for welding and cutting operations that help to reduce human error and reduce the risk of occupational injuries.

The food & beverage industry segment is the fastest-growing segment during the forecast period. Robotic arms are increasingly used in food processing facilities for packaging and sorting operations. They assist in handling delicate food items, perform pick and place operations, and maintain hygienic conditions throughout the process. Additionally, they also ensure food quality by minimizing the risk of food contamination.

Global Robotic Arm Market Segmentation: By Region

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America

Due to established tech companies and the prevalence of advanced automated technologies, there is an increase in demand for robotic arms in the region. Robotic arms find increased applications in the automotive and space & technology industry due to their agility and accuracy to perform various tasks. These arms help in manufacturing car body components, welding, painting car exteriors, and assembling complex car parts with high precision and efficiency. Furthermore, the robotic arm is extensively used in the space industry for performing crucial tasks in the region. For instance, Canadarm and Canadarm2 are two robotic arms developed by Canadian Space Agency to perform functions such as satellite deployment, maintenance, and assembling space structures.

Asia Pacific is the fastest-growing region during the forecast period. Rising demand for industrial automation and the prevalence of robotic manufacturing leaders in countries like Japan and China have contributed to the growth of the robotic arm market. Moreover, rising labour costs and government initiatives to support industrial automation have further increased the usage of robotic arms in the region. Government initiatives such as Made in China 2025 and Japan’s -Robot Revolution Initiative have spurred the demand for robotic arms in the region.

Global Robotic Arm Market Key Players:

1. ABB
2. Mitsubishi Electric Corporation
3. Rockwell Automation
4. Universal Robots
5. Flexiv
6. Dobot. cc
7. OMRON Corporation
8. Seiko Epson Corporation
9. Fanuc
10. Boston Dynamics