According to a recent report published by Allied Market Research, titled, “SCARA Robot Market by payload capacity, Application, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2019-2026,” the global SCARA robot market size was $7.10 billion in 2018, and is projected to reach $14.78 billion by 2026, registering a CAGR of 9.8% from 2019 to 2026.
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SCARA robot market is projected to depict a prominent growth during the forecast period, owing to various factors, such as growing need for mass production with reduced operation cost, surge in adoption of industry 4.0 and upsurge in demand for IoT-based smart solutions and automation in various industries for qualitative and reliable manufacturing.
SCARA robots are widely used in the food & beverage industry for several purposes including food processing, quick picking and packing tasks such as tray loading, bottle handling, and others. In addition, SCARA robots are also used in the electrical & electronics industry to build and handle display screens, connectors, and printed circuit boards (PCB).
Increase in shift toward digital transformation fuels the demand for IoT-based smart solutions and automation in various industries to adopt & enable new and autonomous capabilities. Most of the automation and smart solutions are used in industries to improve product quality, plant efficiency, and facilitate uniform production. Thus, increase in demand for IoT-based smart solutions is expected to drive the SCARA robot market growth during the forecast period. The demand for industrial automation is on the rise in various industries as it combines information technology with machine and systems to create smart manufacturing infrastructure. It standardizes the manufacturing process and provides repeatable & consistent results with improved product quality. Moreover, the use of automation in industrial application has reduced human intervention in industrial process, which minimized the human errors and related problems.
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The manufacturing industry players are focusing on increasing the efficiency of manufacturing process to achieve low cost and high-quality production results, which majorly drive the SCARA robot market. Furthermore, increase in demand for mass production in manufacturing industries also increases the demand for industrial application, as it resolves the quality control issue associated with mass production. In addition, it reduces production cost by producing large number of products in optimized time with high accuracy. Moreover, less human intervention reduces the labor cost, which in turn minimizes overall operational cost in the manufacturing process and drives the demand for this market.
The various manufacturing industries focus to obtain safe, fast, and efficient production results, which boost the need for industrial application. Moreover, increase in adoption of industry 4.0 resolutions is projected to shape the future of manufacturing industries by standardizing the processes. It is a digital transformation of manufacturing industries into smart industries. Thus, government is providing funds to industries for adoption of automation systems and enabling technologies in various emerging economies, which can improve industrial processes.
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The key factor that drives the North American SCARA market are, the rise in need for automation. Companies are automating their processes at a rapid pace to meet the increasing market demand. In addition, rise in cost of manufacturing labor provides an impetus to the companies toward the adoption of robots. In addition, growth in the e-commerce industry presents opportunities for the market players. In addition, in Asia-Pacific, increase in adoption of automated systems in the growing food & beverage, logistics, pharmaceutical, and other sectors; improved & safe working conditions; and technological advancements foster the demand for packaging robots in this region. The Indian government emphasizes on safety and security on the production floor, which accelerates the growth of the robot market. The Asia-Pacific market is further supplemented by increase in demand in electronics, automobile, construction, and chemical industries.
For instance, China has witnessed rapid growth in the robotics industry. The country has been investing heavily and deploying 100,000 industrial robots to several industries. Growth in the logistics and electronics industry boosts the demand for industrial robots. For instance, in February 2018, Toshiba Machine Co., Ltd., launched a new THE400 SCARA Robot that combines high cost performance with easy operation and therefore, is used by numerous customers around the globe.
Key Findings of the Study:
Based on pay load capacity, the up to 5.0 kg segment generated the highest revenue in the global SCARA robot market in 2018.
Based on application, the noise material handling segment generated the highest revenue in the global SCARA robot market in 2018.
The key players profiled in the report Seiko Epson Corporation, Kawasaki Robotics, ABB, OMRAN Corporation, Mitsubishi Electric Corporation, KUKA AG, Fanuc Corporation, DENSO Corporation (DENSO Robotics), Yaskawa Electric Corporation, and Stäubli International AG. These key players adopted several strategies such as, new product launch and development, acquisition, partnership, collaboration, and business expansion to increase the global SCARA robot market share.
Report Overview: https://www.alliedmarketresearch.com/scara-robot-market-A06048
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