The new articulated robots market research from Technavio indicates neutral growth in the short term as the business impact of COVID-19 spreads.
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Technavio has announced its latest market research report titled Global Articulated Robots Market 2021-2025 (Graphic: Business Wire)
Get detailed insights on the COVID-19 pandemic crisis and recovery analysis of the articulated robots market.
“One of the primary growth drivers for this market is the increasing benefits of articulated robots,” says a senior analyst for industrials at Technavio. The market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments. As the markets recover Technavio expects the articulated robots market size to grow by USD 6.12 billion during the period 2021-2025.
Articulated Robots Market Segment Highlights for 2020
- The articulated robots market is expected to post a year-over-year growth rate of 5.23%.
- Based on the end-user, the automotive segment saw maximum growth in 2020. Factors such as the increasing complexity in the manufacturing of passenger cars and the rising concerns regarding labor safety in the automotive industry are expected to drive the market for articulated robots during the forecast period.
- The growth of the market segment will be significant during the forecast period.
- 39% of the growth will originate from the APAC region.
- The increasing production capcities are one of the prime factors that will facilitate the articulated robots market growth in APAC over the forecast period.
- China and Japan are the key markets for articulated robots in APAC. Market growth in APAC will be faster than the growth of the market in other regions.
Click here to learn about report detailed analysis and insights on how you can leverage them to grow your business.
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- The articulated robots market size is expected to accelerate at a CAGR of about 10% during the forecast period.
- The articulated robots market is segmented by end-user (Automotive, Electrical & electronics, Heavy machinery, Metal, and Others) and geography (APAC, Europe, North America, MEA, and South America).
- The market is fragmented due to the presence of many established vendors holding significant market share.
- The research report offers information on several market vendors, including ABB Ltd., Comau Spa, FANUC Corp., Midea Group Co. Ltd., Mitsubishi Electric Corp., NACHI-FUJIKOSHI Corp., OMRON Corp., Seiko Holdings Corp., Yamaha (News – Alert) Motor Co. Ltd., and Yaskawa Electric Corp.
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