From GlobeNewswire: 2024-11-18 08:50:00

The Robotic Arm Market is projected to grow from USD 28.04 Billion in 2023 to USD 81.83 Billion by 2032, with a CAGR of 12.64% over the forecast period. Robotic arms are vital in modern manufacturing, enhancing automation, efficiency, and quality while reducing costs. Industry 4.0 and IoT integration are driving significant market growth, with a 14% annual increase in active industrial robots. Companies are adopting robotic arms to optimize workflows and meet demands for automated production.

Articulated robotic arms led the market in 2023, accounting for 35% of revenue due to their versatility in tasks like welding, painting, and assembly. Materials handling was the top application segment, capturing 47% of the market share by streamlining tasks like picking, packing, and sorting. Asia Pacific and North America are key regions driving market growth through technological advancements and industry adoption.

The Asia Pacific region dominated the robotic arm market in 2023, holding 38% of total revenue, with strong growth driven by technological advancements and industry adoption. North America emerged as the fastest-growing region, led by technological progress, major investments in automation, and rising demand across sectors like manufacturing, healthcare, and logistics. Companies like ABB and Universal Robots are advancing robotic solutions in the U.S. Government support, Industry 4.0 adoption, and e-commerce growth are propelling North America’s robotic arm market expansion. Recent developments include FABRI Creator’s DIY mini robotic arm tutorial, GITAI USA’s Inchworm-type Robotic Arm achieving TRL6, McMaster University’s collaboration to enhance space robotics, Amazon showcasing over 750,000 robots, and Parker Hannifin – Sporlan Division donating a robotic arm for student training. The market report covers market dynamics impact analysis, statistical insights, competitive landscape, market segmentation, regional analysis, company profiles, and more. SNS Insider offers research insights on robotic arm market growth and outlook.



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