Inkwood Research estimates that the Global Robotic End-Effector Market is estimated to project a CAGR of 10.97% in terms of revenue during the forecasting years of 2021-2028.
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A robotic end-effector is a peripheral device attached to
the end of the robot’s wrist, enabling it to interact with the object on which
the task must be performed. The different types of robotic end-effectors
applied in the industry are suction cups, processing tools, grippers, and custom
end-effectors.
Technological
Advancements Drive Market Growth
Additive manufacturing (AM) or 3D printing technologies generate
three-dimensional components from computer-aided design (CAD) models. It
entails the successive addition of material layer by layer until the creation
of a physical part. Although additive manufacturing technologies existed since
the 1980s, the industry underwent the most conspicuous hype cycle during the
early 2010s, with promoters claiming that the technology would be widely
utilized across consumer applications.
Recent developments in terms of materials, machinery, as
well as software have resulted in 3D printing being accessible to more
businesses. As a result, companies are encouraged to use solutions formerly
limited to a restricted number of high-tech industries. Presently, professional
3D printers are responsible for accelerating innovation and supporting
businesses in numerous industries like entertainment, engineering, dentistry, jewelry,
manufacturing, education, healthcare, and audiology.
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Grippers
Segment Dominated the Type Category in 2020
Grippers can be used in complete solutions that use sensors,
motors, and drives. Offering an enhanced option for the users, they help reach
lower throughput. For instance, Robotiq launched a palletizing solution in
October 2020, developed for applications up to 13 boxes per minute. The system
has nodes for palletizer, motor, driver, and vacuum gripper AirPack, in
addition to bracket and suction cups. Furthermore, the market also witnessed
collaborations for launching magnetic grippers used to transfer, pick, and place
ferromagnetic workpieces with uneven or damage-prone surfaces.
Asia-Pacific
to Lead the Global Market by 2028
The increased need for workplace safety and improved
production capabilities across the Asia-Pacific incentivize industries to
invest in robotic systems. As per the International Federation of Robotics
World Robot report 2020, Japan ranks second globally, with 4,99,000 annual
industrial robot installations, following China, with 14,05,000 annual
installations.
The global market represents a fairly contested space, constituting
numerous firms such as large corporations and medium-sized domesticated
manufacturers. Moreover, strategic decisions by enterprises, including
investments, collaborations, and new product launches, among others, are projected
to alter the competitive landscape. Therefore, the industrial rivalry is anticipated
to be high over the forecasted years. Key companies operating in the market are
Robotiq Inc, Zimmer Group, ABB Ltd, etc.
About Inkwood
Research
Inkwood Research specializes in syndicated & customized
research reports and consulting services. Market intelligence studies with
relevant fact-based research are customized across industry verticals such as
technology, automotive, chemicals, materials, healthcare, and energy, with an
objective comprehension that acknowledges the business environments. Our
geographical analysis comprises North & South America, CEE, CIS, Middle
East, Europe, Asia, and Africa.
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