According to Fact.MR the Dual Arm Robot Market will be worth US$ 8.1 billion in 2023 and US$ 23.9 billion by 2033, expanding at a CAGR of almost 11.4% throughout that time.
The value of the worldwide robot market is projected to be around US$38.6 billion in 2023. A crucial component of the whole robot business is the dual robotic arm. At the end of 2022, sales of dual robotic arms represented an approximately 21.1% value share of the worldwide robot market.
Robots have come a long way since their inception. With advancements in technology, they have become more intelligent, efficient and capable of handling complex tasks. Dual arm robots are a prime example of this progress. In this blog, we will discuss the market development, drivers, trends, benefits and challenges associated with dual arm robots.
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Drivers:
The key driver of dual arm robots is their ability to perform complex tasks with high precision. They have two arms that can work independently or together to perform various functions. This makes them ideal for applications that require a high degree of accuracy, such as assembly, painting, and material handling. The increasing demand for automation in various industries is also driving the growth of dual arm robots.
Trends:
The trend of integrating Artificial Intelligence (AI) and Machine Learning (ML) in robots is gaining traction. Dual arm robots, which are already equipped with sensors and cameras, can now be programmed to learn from their environment and make decisions based on data. This makes them more efficient and adaptable to changes in their environment.
Key Takeaways from Study
- Global dual arm robots market is poised to expand at a CAGR of 11.4% reaching the valuation of US$ 23.9 Billion by the end of 2033.
- The global dual arm robots market witnessed a healthy CAGR of 9.6% during 2018 to 2022.
- By application segment, packaging is likely to account for 19.2% of revenue share by obtaining a valuation of US$ 1.5 Billion in 2023.
- East Asia region is expected to register a CAGR of 12% over the forecast period, as it will be valued at US$ 3.2 Billion by 2023 end.
- Under orientation segment, five degrees of freedom sub segment, is estimated to account for approximately a 32.3% share in 2023.
- Germany in Europe region provides more revenue generation opportunities and is expected to capture a market share of 31% in 2023.
Benefits:
Dual arm robots offer several benefits. They are highly precise and can perform tasks with a high degree of accuracy. This reduces errors and improves the overall quality of the output. They are also faster than human workers, which leads to increased productivity and efficiency. Dual arm robots also reduce the risk of human injuries in hazardous work environments and can work continuously without breaks, leading to cost savings.
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Challenges:
The high cost of dual arm robots is a major challenge. The initial investment required to purchase and install dual arm robots is much higher than that of traditional robots or human workers. Another challenge is the complexity of programming dual arm robots. As they have two arms, programming them requires a higher level of expertise and may be challenging for some organizations.
Dual arm robots are revolutionizing the robotics industry. They offer several benefits over traditional robots and human workers, such as increased precision, speed, and efficiency. The market for dual arm robots is expected to grow at a significant pace in the coming years, driven by the increasing demand for automation in various industries. However, the high cost and complexity of programming dual arm robots remain a challenge. With advancements in technology, we can expect dual arm robots to become more affordable and easier to program in the future.