Global articulated robot market: $24 billion industry by 2016

Press release   •   May 01, 2013 14:47 BST

The Global Articulated Robots market is to reach US$24.26 billion by 2016. One of the key factors contributing to this market growth is increasing need for automation processes. The Global Articulated Robots market has also been witnessing developing next-generation articulated robots. However, continuous decline in vendors' profit margin could pose a challenge to the growth of this market.

The Global Articulated Robots market vendors are witnessing huge potential for customized robots among manufacturing industries. Many Manufacturing industries prefer application-specific robotic systems, and therefore, the vendors are offering application-specific articulated robots to the manufacturing companies. For instance, automotive companies prefer articulated robots specific to assembling applications, as this is one of the core competencies of automotive companies. Therefore, the vendors need to provide unique articulated robots as per the company's requirement. Thus, many vendors are developing customized robots, which help vendors to create a competitive edge over the competitors in the market.

One of the major growth drivers in the market is the increasing need for automation processes. Manufacturing companies depend on articulated robots to tackle the challenges of labor shortages and a rise in labor costs.

Key vendors dominating this market space include ABB Ltd., Fanuc Corp., KUKA AG, and Yaskawa Electric Corp. Other vendors mentioned in the report: Adept Technology Inc., American Robot Corp., Denso Wave Inc., Evolution Robotics Inc., iRobot Corp., Kawasaki Robotics Inc., Nachi-Fujikoshi Corp., RoboGroup TEK Ltd., Rockwell Automation Inc., ST Robotics, and STAUBLI Corp.

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