Fanuc America Corporation has announced the release of the CRX-5iA, CRX-20iA/L and CRX-25iA collaborative robots. These new machines are part of the popular CRX series that also includes the CRX-10iA and CRX-10iA/L collaborative robots.
ABB Ltd. has introduced a new generation of cobots for new industries. In addition to its GoFa and SWIFTITM cobots, ABB has expanded its collaborative robot portfolio.
Growing installations of robots in the automotive sector as well as increasing automation to reduce human error along with rising sales of cars are some of the major factors anticipated to drive the growth of the market.
The market is anticipated to attain a CAGR of ~13% over the forecast period, i.e., 2023-2033.
The requirement of high initial investment as well as the high cost of integration are some of the factors estimated to hamper the market growth.
The market in Asia Pacific is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.
The major players in the market are Kawasaki Heavy Industries, Ltd., Seiko Epson Corporation, Rockwell Automation, Inc., ABB Ltd, Switzerland, Denso Corporation, Comau S.p.A., Fanuc Corporation, Yaskawa Electric Corporation, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by product type, application and, by region.
The material handling segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.