Articulated Arm Market Analysis and Latest Trends

An articulated arm, also known as an industrial robot arm, is a mechanical device designed to replicate the movement of a human arm. It consists of a series of interconnected segments or links, with joints that allow for rotation and movement. Articulated arms are widely used in various industries, including automotive, aerospace, electronics, healthcare, and manufacturing.

The market for articulated arms is experiencing significant growth, primarily driven by the increasing demand for automation in industries. By utilizing articulated arms, companies can improve efficiency, accuracy, and productivity in their manufacturing processes. This has resulted in a growing adoption of these robotic arms in industries such as automotive assembly, welding, material handling, and quality control.

Another factor driving the market growth is the advancements in robotic technology. Articulated arms are now equipped with advanced sensors, cameras, and control systems, allowing for enhanced precision and flexibility in their operations. Additionally, the integration of artificial intelligence and machine learning capabilities has further improved the performance and capabilities of these robotic arms.

The COVID-19 pandemic has also accelerated the adoption of articulated arms in industries that focus on remote operations and social distancing measures. These robotic arms can be operated remotely, reducing the need for human intervention in potentially hazardous environments.

Key trends in the articulated arm market include the incorporation of collaborative capabilities, where robots can work alongside humans, and the development of lightweight and compact designs for easy integration into smaller workspaces.

In conclusion, the articulated arm market is projected to grow at a CAGR of 8.8% during the forecast period. The increasing demand for automation, advancements in robotic technology, and the impact of the COVID-19 pandemic are driving the growth of this market. The incorporation of collaborative capabilities and the development of lightweight designs are some of the latest trends observed in the industry.

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Articulated Arm Major Market Players

The articulated arm market is highly competitive, with several key players dominating the industry. These players include Hexagon, Carl Zeiss, Renishaw, Mitutoyo, Faro Technologies, Nikon Metrology, Danish Micro Engineering, Optical Gaging Products, Trescal, and Optical Metrological Services.

Hexagon is one of the leading companies in the articulated arm market. The company offers a wide range of articulated arm products for various applications, including aerospace, automotive, and manufacturing industries. Hexagon has experienced significant market growth due to its innovative product offerings and global presence. The company has a strong focus on research and development, constantly introducing new and improved technologies to meet the evolving needs of its customers. Hexagon's future growth is expected to be driven by increasing demand for accurate and portable metrology solutions across industries.

Faro Technologies is another key player in the market, known for its advanced 3D measurement solutions. The company's articulated arm products have gained popularity among industry professionals due to their high precision, ease of use, and portability. Faro Technologies has experienced substantial growth in the market, driven by the increasing adoption of 3D measurement technologies in industries such as architecture, construction, and engineering. The company's future growth prospects are strong, as it continues to invest in research and development to enhance its product portfolio and expand its customer base.

In terms of market size, the articulated arm market was valued at USD 774.1 million in 2020 and is projected to reach USD 1,239.1 million by 2026, growing at a CAGR of 7.9% during the forecast period.

While specific sales revenue figures for the aforementioned companies were not provided, it is worth noting that Hexagon, Faro Technologies, and Carl Zeiss are among the market leaders in terms of revenue. Hexagon reported global sales of EUR 3.45 billion in 2020, Carl Zeiss generated revenue of EUR 6.3 billion in the fiscal year 2020/2021, and Faro Technologies reported total revenue of USD 328.7 million in 2020.

Overall, the articulated arm market is highly competitive, with key players like Hexagon, Carl Zeiss, and Faro Technologies leading the industry. These companies are expected to continue their market growth through product innovation, expanding their global presence, and catering to the increasing demand for accurate and portable metrology solutions.

What Are The Key Opportunities For Articulated Arm Manufacturers?

The global articulated arm market is witnessing substantial growth due to increasing demand from industries like automotive, aerospace, and healthcare. The market is expected to grow at a CAGR of around 7% during the forecast period. The growing need for precise measurement and inspection systems, coupled with advancements in technology such as robotic automation, is driving market growth. Additionally, the demand for portable and flexible measurement solutions is also contributing to market expansion. Furthermore, the rising adoption of 3D scanners and augmented reality in various industries is expected to provide lucrative opportunities for market players. Overall, the articulated arm market is poised for significant growth in the coming years.

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Market Segmentation

The Articulated Arm Market Analysis by types is segmented into: