MarketsandMarkets’ research report, "Articulated Robot Market by Payload, Function, Industry, and Geography - Global Forecast to 2023", the articulated robot market is expected to grow from $10.92 Billion in 2018 to $23.51 Billion by 2023, at a CAGR of 16.58%. Market growth is attributed to factors such as growing investments for automation in various industries and growing demand from SMEs in developing countries.
- Robots with payload carrying capacity of up to 16.00 kg to capture largest share of articulated robot market in 2018
- Articulated robot market for metal and machinery industry to grow at high rate during forecast period
- APAC to hold largest share of articulated robot market during forecast period
- The articulated robot market is currently dominated by players such as FANUC (Japan), ABB (Switzerland), Yaskawa (Japan), KUKA (Germany), and Mitsubishi (Japan). CMA Robotics S.p.A. (Italy), Anhui Efort Intelligent Equipment (China), Precise Automation, Inc. (US), and F&P Robotics AG (Switzerland) are some of the emerging players in the articulated robot market.
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