Articulated Robots Market Size, Share, Growth Analysis, By Payload (Up to 16.00 kg, 16.01-60.00 kg), By Function (Handling, Welding), By Industry (Automotive, Electrical & Electronics), By Region - Industry Forecast 2024-2031

Global Articulated Robots Market size was valued at USD 20.3 billion in 2022 and is poised to grow from USD 23.2 billion in 2023 to USD 69.2 billion by 2031, growing at a CAGR of 14.6% during the forecast period (2024-2031).

The global artificial robots market is experiencing significant growth driven by the increasing adoption of robots across various automated industries, particularly in manufacturing processes such as welding, painting, assembly, and material handling. As companies prioritize efficiency, cost reduction, and production accuracy, the demand for articulated robots has surged. A notable example occurred in September 2023, when the UK Minister for Agriculture announced a £12.5 million investment aimed at enhancing sustainability in agricultural production through robotics and automation. This funding supports nineteen innovative projects focused on optimizing strawberry and vineyard yields, as well as advancing automation technologies to streamline harvesting operations. Moreover, continual advancements in robotics technology-particularly improvements in sensors, actuators, and control systems-are enhancing the performance and capabilities of articulated robots, enabling them to perform complex, standardized tasks while fostering better human-computer interaction. For instance, in October 2022, ABB launched its small industrial robot, the IRB 1010, which is set to revolutionize the production of smart wearable devices such as smartwatches, earphones, and health trackers. This innovation promises to boost production efficiency in electronics manufacturing, thereby contributing further growth to the artificial robots market. Overall, these trends indicate that the integration of robotics will further transform various industries by improving operational efficiencies and enabling new technological developments.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Articulated Robots market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Articulated Robots Market Segmental Analysis

Global Articulated Robots Market is segmented by Payload, Function, Industry and region. Based on Payload, the market is segmented into Up to 16.00 kg, 16.01-60.00 kg, 60.01 - 225.00 Kg, More Than 225.00 Kg. Based on function, the market is segmented into Handling, Welding, Dispensing, Assembly, Processing, Others. Based on Industry, the market is segmented into Automotive, Electrical & Electronics, Metal & Machinery, Food & Beverages, Chemicals, Rubbers & Plastics, Precision Engineering & Optics, Pharmaceuticals & Cosmetics, Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.

Driver of the Global Articulated Robots Market

The articulated robots market is set to grow significantly due to the rising demand for industrial robots, which are essential for automating manufacturing processes. These machines, designed to operate autonomously within industrial settings, take on various production-related tasks, thus enhancing operational efficiency. According to the International Federation of Robotics, approximately 4.35 million industrial robots were installed in 2022, marking a remarkable 13 percent increase from the previous year. Projections suggest that this number could rise to around 5.18 million units by 2024. Consequently, the heightened interest and need for industrial robots will undoubtedly drive expansion in the articulated robots market.

Restraints in the Global Articulated Robots Market

The growth of the Global Articulated Robots market may face challenges due to substantial capital investments and elevated operational costs. The integration of robotic arms and simulators, along with other essential hardware and software systems, presents a complex undertaking that necessitates considerable financial commitment. For instance, the U.S. Environmental Protection Agency (US EPA) indicates that spray tents can range from $5,400 to $23,000 based on varying building requirements. These high costs associated with advanced robotic systems could impede market expansion, as companies may hesitate to invest in such expensive technologies, thereby affecting overall adoption rates within the industry.

Market Trends of the Global Articulated Robots Market

The global articulated robots market is witnessing robust growth driven by rapid technological advancements and innovative solutions. Key players are increasingly focusing on AI-enabled, collaborative, and customized robots tailored for specific industries such as consumer electronics, automotive, and healthcare. The rise of self-healing and cloud robotics is further enhancing efficiency and functionality, allowing companies to adapt to diverse operational needs. Notable advancements, exemplified by OMRON Corporation's HD-1500, which can transport up to 1,500 kilograms, underscore the shifting landscape toward automation and enhanced productivity. This trend signifies immense potential for market expansion as industries seek to leverage cutting-edge robotic technologies.