Global robotic arm market is forecast to exhibit from buzai232's blog

Global robotic arm market is forecast to exhibit a CAGR of over 13.8% during the forecast period

Global robotic arm market is forecast to exhibit a CAGR of over 13.8% during the forecast period, growing from $17.9 billion in 2018 to 39.2 billion by 2024, 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.crp robot
Global Robotic Arm Market Segments
Payload capacity of a robotic arm determines the amount of weight a robotic arm can lift or carry.Based on the payload capacity, robotic arm market has been segmented into less than 500 Kg, 500-3000 Kg and 3001 Kg & above.

Robotic arms with heavy payload capacity are generally used for material handling and other applications.A robotic arm includes metal joints and the movement of the joint is controlled by servo motors.

High number of servo motors allows greater flexibility and permits a wide variety of applications and greater axes. End user industries prefer robotic arms of high degree of freedom, so that complex tasks can be performed.
Based on the type, global robotic arm market has been categorized into, articulated, cartesian, SCARA, cylindrical, and others.Articulated captured the largest market share in 2018 and the segment is expected to register significant growth until 2024, backed by its growing adoption for various industrial applications such as packaging and material handling.