Articulated Robot Market Summary
As per Market Research Future Analysis, the Global Articulated Robot Products Market was valued at USD 2.9 Billion in 2023 and is projected to reach USD 9.9 Billion by 2032, growing at a CAGR of 14.38% from 2024 to 2032. The market is driven by increasing investments in industrial automation, rising demand from SMEs in emerging markets, and the need for precise assembly line operations. The food & beverages sector leads the market, accounting for 45% of revenue, while the load/unload application segment dominates in usage. North America holds the largest market share, followed by Europe and Asia-Pacific, with the latter expected to grow at the fastest rate during the forecast period.
Key Market Trends & Highlights
Key trends driving the articulated robot market include automation adoption and technological advancements.
- Market Size in 2023: USD 2.9 Billion
- Projected Market Size by 2032: USD 9.9 Billion
- CAGR from 2024 to 2032: 14.38%
- Food & Beverages segment accounts for 45% of market revenue
Market Size & Forecast
2023 Market Size | USD 2.9 Billion |
2024 Market Size | USD 3.37 Billion |
2032 Market Size | USD 9.9 Billion |
Major Players
Major players include ABB, Fanuc Corporation, Yaskawa Electric Corporation, Kawasaki Heavy Industries Ltd, Mitsubishi Electric Corporation, Seiko Epson Corporation, Toshiba Machine Co. Ltd, OMRON Corporation, and KUKA Aktiengesellschaft.