Robotic Arm (RA) Sales Market Size, Share, Growth, and Industry Growth, By Type (6-Axis, 7-Axis, and Others), By Application (Broadcast Automation, Staging (Live Stage), Sports, Film and TVCM, and Others), Regional Forecast to 2028

Updated On: 13 March 2023

REPORT OVERVIEW

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The global robotic arm (RA) sales market size was worth US$ 389 million in 2021. The global COVID-19 pandemic has been unprecedented and staggering, with robotic arm (RA) sales experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is projected to exhibiting a CAGR of 3.4% during the forecast period. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

A type of robotic arm with a camera in it used for entertainment is known as a robotic arm. It performs all the functions similar to the human arm. These robots perform functions with greater efficiency due to their advanced technologies. It is connected to a rotational manipulator and can be controlled with the help of a computer. It is a mechanical arm and consists of various joints that rotate in the directions or move along. It is categorized into 6-axises respectively. This robotic arm (RA) sales increased due to its applications in broadcast automation, sports, film and TVCM, staging (live stage), and others. The robotic arm plays a significant role in various end-user industries to successfully complete the desired task. 

The end-effectors, sensors, actuators, and controllers are all mounted on these arms. These robotic arms assist in doing industrial activities that might be dangerous for humans. The development and expansion of technology also made it possible to work longer hours, which are necessary for lowering maintenance. Additionally, the heavy payload robotic arm aids in performing a variety of procedures as well as carrying huge payloads at the arm's wrist. The robotic arm functions in accordance with its payload capacity, which rises in accordance with the task.

COVID-19 Impact: Labor Shortage during the Pandemic Restricted Market Growth

The robotic arm market has been impacted by COVID-19. Robotic arm technology's sales and manufacturing were restricted by low investment costs and a labor shortage. New safety measures were, however, established by the government and major market actors to develop the procedures. The technology improvements targeted the correct audience, which increased the hardware and software sales rate. In the post-pandemic environment, it is anticipated that the growing number of businesses worldwide will further fuel market expansion.

LATEST TRENDS

"Growing Adoption of Advanced Technology to Drive Market Trends"

The lengthier working hours required for maintenance have decreased due to technological advancements. Robotic arms are frequently used to handle big payloads at the wrist. These state-of-the-art weapons can easily handle payloads, increasing their capability in line with the task. Everything a human arm can accomplish, a robotic arm can as well. On the other hand, robotic arms are more efficient at their jobs because they use more advanced technology. The robotic arm, which is attached to a rational manipulator, is controlled by a computer. A mechanical arm with numerous joints that can rotate or move along an axis is called a robotic arm since it can be programmed. These factors are likely to surge the robotic arm (RA) sales market growth.

Segmentation

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• By Type Analysis

By type, the market is segmented into 6-axis, 7-axis, and others.

• By Application Analysis

Based on application, the market is classified into broadcast automation, staging (live stage), sports, film and TVCM, and others.

DRIVING FACTORS

"Rising Technological Advancements to Augment Product Demand "

The longer working hours needed for maintenance have decreased due to technological developments. Handling heavy payloads at the arm wrist is a common application for robotic arms. These cutting-edge arms are proficient in handling payload capacity, which raises its capacity in accordance with the duty. A robotic arm (RA) sales market growth is expected to be backed by its versatile applications, such as it can do everything a human arm can do. However, because they use improved technology, robotic arms are more effective at their tasks. A computer is used to operate the robotic arm coupled with a rational manipulator. A robotic arm is a mechanical arm that can be programmed and comprises several joints that may rotate or move along an axis.

"Increasing Government Expenditure on AI Systems to Propel Market Growth"

Government spending on artificial intelligence systems is the main element boosting the demand for robotic arms with a hefty payload. The agencies benefit from the reduced costs, cost savings, and process simplification provided by intelligent automation. Utilizing robotic arms with big payloads for automation in many industries is leading to significant system investment. The adoption of systems that save gasoline and boost the economy is also being facilitated by the surge in the acceptance of fuel conservation in an effort to protect non-renewable energy sources. Thus, this is what is causing the market for heavy payload robotics to rise.

RESTRAINING FACTORS

"High Cost of the Product May Restrict Market Growth"

High cost of deployment may affect the robotic arm (RA) sales market growth. Additionally, the cost of SMEs are exceptionally high, which may challenge market growth. The issue of integration and interoperability with industrial robots and the growing need for high-level expertise may create challenges for the growth of the market.

REGIONAL INSIGHTS

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"Europe to Be the Dominant Region Due to the Rapid Adoption of Advanced Technologies"

Europe is expected to hold approximately 45% of the overall market share due to the work of manufacturers on developing and adopting collaborative robots. These robot arms are made to operate with people and are well-equipped with advanced sensors. 

Asia Pacific is anticipated to show lucrative growth owing to growing industrialization and urbanization, which will eventually boost robotic arm (RA) sales.

KEY INDUSTRY PLAYERS

"Key Companies to Emphasis on the Development of Advanced Technology"

Key market players are investing heavily on research and development of the product. Companies are also paying focus on launching advanced products. Emphasis on gaining collaborations, mergers, and acquisitions is increasing among leading players. The major market players are striving to maintain partnerships with other key players in the same industry. Gaining partnerships with other companies will develop a strong consumer base in the global market. The key competitors are adopting organic and inorganic growth strategies to surge their market share in the global market. 

List of Market Players Profiled

• Ross (U.S.)
• AR+ (India)
• MR Motion Control (U.K.)
• Camerobot (Germany)
• PhotoRobot (Czechia)
• Electric Friends (Norway)
• Dongxu Robotics (China)
• Hanson Creative (New Zealand)

REPORT COVERAGE

The market research study offers thorough information on numerous market aspects. The growth drivers, restraints, geographical analysis, competitive environment, and challenges are a few of them. Additionally, it provides an analytical analysis of market trends and projections for various factors to show potential investment areas. From 2021 through 2027, the market is objectively assessed to determine its financial viability. The report's data was compiled using a variety of primary and secondary sources.