Global Robotic Arm Market By Size, Share, Trends, Growth, Forecast 2026 | TechSci Research

Global robotic arm market is forecast to exhibit a CAGR of over 13% during the forecast period, growing from more than $20 billion in 2019, on account of rising demand for automation, owing to increasing labor charges. With addition of insurance, compensation, paid leave, training expenses, and other benefit packages, wages for human workers are rising, which is boosting the robotic arm market across the globe. Robotic arms can perform repetitive and heavy tasks with efficiency. Increasing focus on improving the productivity of large production volume, in addition to advancements in artificial intelligence and development of sophisticated sensors are augmenting the development of self-programmable robots. However, high capital costs associated with robots prevent small enterprises from purchasing them.

Global Robotic Arm Market Competitive Landscape

Key market players studied during the research include ABB Ltd., KUKA Robotics Corporation, Fanuc Corporation, Yaskawa Electric Corporation, Mitsubishi Electric, etc. These companies are adopting various strategies including expansion, joint ventures, collaborations, partnerships, and mergers & acquisitions to gain a strong position in the industry.
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