Articulated Robots Market
Articulated Robots Market Forecasts to 2028 - Global Analysis By Payload (Up to 16 Kg, 16 - 60 Kg, 60 - 225 Kg and More Than 225 Kg), Function (Handling, Welding, Dispensing, Assembly, Processing and Other Functions), End User (Automotive, Chemicals, Electrical & Electronics, Food & Beverages, Metal & Machinery, Pharmaceuticals & Cosmetics, Precision Engineering and Optics and Other End Users) and By Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $21.94 BN |
|
Projected Year Value (2028) |
US $61.01 BN |
|
CAGR (2022 - 2028) |
18.58% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Articulated Robots Market is accounted for $21.94 billion in 2022 and is expected to reach $61.01 billion by 2028 growing at a CAGR of 18.58% during the forecast period. A robot that can be programmed and has rotary joints to enable full range of motion is referred to as an articulated robot. It is frequently used in a variety of industrial processes, including material handling, welding, dispensing, assembling, cutting, loading/unloading, and painting. Robots with articulation improve operational effectiveness while completing difficult tasks and are capable of handling bulky items that would be dangerous or challenging for a human to handle.
According to the International Federation of Robotics, the estimated annual industrial robots installation in the North American region reached 54,000 units in 2019 and is expected to reach 69,000 by 2022.
Market Dynamics:
Driver:
Increasing usage in automotive industry
The automotive industry uses articulated robots the most frequently because it handles a wide range of manufacturing and assembly tasks, including welding, cutting, painting, and other operations. Additionally, the use of these articulated robots is crucial for boosting output, efficiency, and productivity in the automotive sector as well as for lowering energy consumption. Automobile demand is continuously rising, and as disposable income rises in areas like Asia-Pacific, the need for automation also rises, fueling demand for articulated robots.
Restraint:
High cost of reconfiguring robots
Despite the widespread use of articulated robots in SMEs, barriers still stand in the way of their application to low-volume manufacturing. Robot reinstallation and reconfiguration are expensive for low-volume production. Robots that have been repaired, on the other hand, are less expensive. In addition, the requirements for reach, workspace, and payload restrictions change as robot usage develops. All of these issues raise the risk of market growth hindrance for low-volume manufacturing.
Opportunity:
Emergence of collaborative robots
To protect workers, large industrial robots lift heavy payloads inside fences while working. Vendors are working extremely hard to improve these robots' ability to collaborate, which will lead to a rise in their popularity among business players. Several fittings, including paint-spray heads, mechanical grippers, welding heads, vacuum grippers, and electromechanical grippers, are included with these robots. As a result of these robots' lower price tags and growing popularity among industry players, the global market for articulated robots is expected to grow over the course of the forecast period.
Threat:
Shortage of skilled labour
Robotic technology is a cutting-edge way to carry out industrial tasks precisely and more quickly. Collaboration between this technology and skilled industrial workers who can comprehend the data transfer between robots and the assembly line is necessary. Robotic systems and data acquisition systems are being increasingly integrated by manufacturers for data analysis. However, the workforce must be knowledgeable enough to draw conclusions in order to actually benefit from these systems. However, the actual benefit of such systems is limited by a lack of knowledge and expertise in data analysis, which is restricting the market's growth.
Covid-19 Impact
Due to COVID-19, the manufacturing sector has seen a significant drop in revenue and profits, which has resulted in significant staff reductions and a loss of overall industrial production activities. The pandemic had an impact on the local economy and supply chain operations in various end-user industries. Governments from different nations declared nationwide lockdowns to stop the spread of the disease, which led to the temporary closure of the production facilities of end-user industries like electrical and electronics, automobiles, and heavy machinery, which reduced the use of articulated robots.
The handling segment is expected to be the largest during the forecast period
Due to the widespread use of articulated robots in the metal and machinery sector for handling heavy metal sheets and components as well as the automotive industry for handling heavy automotive parts, the handling segment is anticipated to account for the largest share of the articulated robot market throughout the forecast period. Additionally, a major factor fueling the segment's expansion is the rising demand for electric vehicles on a global scale.
The automotive segment is expected to have the highest CAGR during the forecast period
The automotive segment is anticipated to experience the highest CAGR during the forecast period. Because it is used to build, install, and manage software robots that mimic human movements while interacting with digital systems and software, the automotive industry has been extremely helpful to the extent of the global articulated robot market. Additionally, the market is expected to experience tremendous growth owing to the booming automotive sector.
Region with largest share:
The North American region is estimated to hold largest market share for Articulated Robots over the forecast period. One of the world's biggest markets and one of the leading innovators and pioneers in the use of robotics is the North American region. In order to produce goods of a higher caliber more quickly and cheaply, modern manufacturing facilities in the North American region have been relying on new technologies and innovations. They are using more intelligent software and hardware to improve their production capabilities in order to survive in the current competitive environment. The widespread adoption of robots across various industries is the main driver of the market's expansion.
Region with highest CAGR:
During the forecast period, Asia Pacific region is anticipated to grow at the highest CAGR. The rise in the market for articulated robots is largely attributed to the presence of seasoned rivals in the area, particularly in countries like China, Japan, and India. The low labour costs and low production costs also make it easier for different industries to set up manufacturing facilities, which will support the expansion of the articulated robot market in the region.
Key players in the market
Some of the key players profiled in the Articulated Robots Market include ABB Ltd, Aurotek Corporation, Cassioli S.r.l , Daihen Corporation, Denso, Engel, Fanuc Corporation, GSK, HIWIN, Kawasaki Heavy Industries Ltd, KUKA Aktiengesellschaft, Mitsubishi Electric Corporation, Nachi-Fujikoshi, OMRON Corporation, Seiko Epson Corporation, SIASUN, Stubli International, Toshiba Machine Co. Ltd, Triowin, Yamaha Motor Co. Ltd and Yaskawa Electric Corporation.
Key Developments:
In March 2022, Geek+, an autonomous mobile robot manufacturer, and Bosch Rexroth, a drive and control technology supplier, struck a strategic channel partnership for North America.
In March 2022, ABB is expanding its offering of big robots for challenging industrial applications with the addition of two new robot classes. ABB’s IRB 5710 and 5720 robots deliver increased productivity and enhanced performance with higher uptime for applications such as electric vehicle (EV) manufacture, foundry, forging, rubber, plastics, and metal fabrication, thanks to improved speed, accuracy, flexibility, and a more robust design that includes integrated process cabling.
In January 2022, ABB, an automation specialist, and HASCO, China’s biggest automotive components supplier, announced the formation of a joint venture to push China’s automotive industry’s next generation of smart production.
Payloads Covered:
• Up to 16 Kg
• 16-60 Kg
• 60 - 225 Kg
• More Than 225 Kg
Functions Covered:
• Handling
• Welding
• Dispensing
• Assembly
• Processing
• Other Functions
End Users Covered:
• Automotive
• Chemicals
• Electrical & Electronics
• Food & Beverages
• Metal & Machinery
• Pharmaceuticals & Cosmetics
• Precision Engineering and Optics
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Articulated Robots Market, By Payload
5.1 Introduction
5.2 Up to 16 Kg
5.3 16 - 60 Kg
5.4 60 - 225 Kg
5.5 More Than 225 Kg
6 Global Articulated Robots Market, By Function
6.1 Introduction
6.2 Handling
6.3 Welding
6.4 Dispensing
6.5 Assembly
6.6 Processing
6.7 Other Functions
7 Global Articulated Robots Market, By End User
7.1 Introduction
7.2 Automotive
7.3 Chemicals
7.4 Electrical & Electronics
7.5 Food & Beverages
7.6 Metal & Machinery
7.7 Pharmaceuticals & Cosmetics
7.8 Precision Engineering and Optics
7.9 Other End Users
8 Global Articulated Robots Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 ABB Ltd
10.2 Aurotek Corporation
10.3 Cassioli S.r.l
10.4 Daihen Corporation
10.5 Denso
10.6 Engel
10.7 Fanuc Corporation
10.8 GSK
10.9 HIWIN
10.10 Kawasaki Heavy Industries Ltd
10.11 KUKA Aktiengesellschaft
10.12 Mitsubishi Electric Corporation
10.13 Nachi-Fujikoshi
10.14 OMRON Corporation
10.15 Seiko Epson Corporation
10.16 SIASUN
10.17 Stubli International
10.18 Toshiba Machine Co. Ltd
10.19 Triowin
10.20 Yamaha Motor Co. Ltd
10.21 Yaskawa Electric Corporation
List of Tables
1 Global Articulated Robots Market Outlook, By Region (2020-2028) ($MN)
2 Global Articulated Robots Market Outlook, By Payload (2020-2028) ($MN)
3 Global Articulated Robots Market Outlook, By Up to 16 Kg (2020-2028) ($MN)
4 Global Articulated Robots Market Outlook, By 16 - 60 Kg (2020-2028) ($MN)
5 Global Articulated Robots Market Outlook, By 60 - 225 Kg (2020-2028) ($MN)
6 Global Articulated Robots Market Outlook, By More Than 225 Kg (2020-2028) ($MN)
7 Global Articulated Robots Market Outlook, By Function (2020-2028) ($MN)
8 Global Articulated Robots Market Outlook, By Handling (2020-2028) ($MN)
9 Global Articulated Robots Market Outlook, By Welding (2020-2028) ($MN)
10 Global Articulated Robots Market Outlook, By Dispensing (2020-2028) ($MN)
11 Global Articulated Robots Market Outlook, By Assembly (2020-2028) ($MN)
12 Global Articulated Robots Market Outlook, By Processing (2020-2028) ($MN)
13 Global Articulated Robots Market Outlook, By Other Functions (2020-2028) ($MN)
14 Global Articulated Robots Market Outlook, By End User (2020-2028) ($MN)
15 Global Articulated Robots Market Outlook, By Automotive (2020-2028) ($MN)
16 Global Articulated Robots Market Outlook, By Chemicals (2020-2028) ($MN)
17 Global Articulated Robots Market Outlook, By Electrical & Electronics (2020-2028) ($MN)
18 Global Articulated Robots Market Outlook, By Food & Beverages (2020-2028) ($MN)
19 Global Articulated Robots Market Outlook, By Metal & Machinery (2020-2028) ($MN)
20 Global Articulated Robots Market Outlook, By Pharmaceuticals & Cosmetics (2020-2028) ($MN)
21 Global Articulated Robots Market Outlook, By Precision Engineering and Optics (2020-2028) ($MN)
22 Global Articulated Robots Market Outlook, By Other End Users (2020-2028) ($MN)
23 North America Articulated Robots Market Outlook, By Country (2020-2028) ($MN)
24 North America Articulated Robots Market Outlook, By Payload (2020-2028) ($MN)
25 North America Articulated Robots Market Outlook, By Up to 16 Kg (2020-2028) ($MN)
26 North America Articulated Robots Market Outlook, By 16 - 60 Kg (2020-2028) ($MN)
27 North America Articulated Robots Market Outlook, By 60 - 225 Kg (2020-2028) ($MN)
28 North America Articulated Robots Market Outlook, By More Than 225 Kg (2020-2028) ($MN)
29 North America Articulated Robots Market Outlook, By Function (2020-2028) ($MN)
30 North America Articulated Robots Market Outlook, By Handling (2020-2028) ($MN)
31 North America Articulated Robots Market Outlook, By Welding (2020-2028) ($MN)
32 North America Articulated Robots Market Outlook, By Dispensing (2020-2028) ($MN)
33 North America Articulated Robots Market Outlook, By Assembly (2020-2028) ($MN)
34 North America Articulated Robots Market Outlook, By Processing (2020-2028) ($MN)
35 North America Articulated Robots Market Outlook, By Other Functions (2020-2028) ($MN)
36 North America Articulated Robots Market Outlook, By End User (2020-2028) ($MN)
37 North America Articulated Robots Market Outlook, By Automotive (2020-2028) ($MN)
38 North America Articulated Robots Market Outlook, By Chemicals (2020-2028) ($MN)
39 North America Articulated Robots Market Outlook, By Electrical & Electronics (2020-2028) ($MN)
40 North America Articulated Robots Market Outlook, By Food & Beverages (2020-2028) ($MN)
41 North America Articulated Robots Market Outlook, By Metal & Machinery (2020-2028) ($MN)
42 North America Articulated Robots Market Outlook, By Pharmaceuticals & Cosmetics (2020-2028) ($MN)
43 North America Articulated Robots Market Outlook, By Precision Engineering and Optics (2020-2028) ($MN)
44 North America Articulated Robots Market Outlook, By Other End Users (2020-2028) ($MN)
45 Europe Articulated Robots Market Outlook, By Country (2020-2028) ($MN)
46 Europe Articulated Robots Market Outlook, By Payload (2020-2028) ($MN)
47 Europe Articulated Robots Market Outlook, By Up to 16 Kg (2020-2028) ($MN)
48 Europe Articulated Robots Market Outlook, By 16 - 60 Kg (2020-2028) ($MN)
49 Europe Articulated Robots Market Outlook, By 60 - 225 Kg (2020-2028) ($MN)
50 Europe Articulated Robots Market Outlook, By More Than 225 Kg (2020-2028) ($MN)
51 Europe Articulated Robots Market Outlook, By Function (2020-2028) ($MN)
52 Europe Articulated Robots Market Outlook, By Handling (2020-2028) ($MN)
53 Europe Articulated Robots Market Outlook, By Welding (2020-2028) ($MN)
54 Europe Articulated Robots Market Outlook, By Dispensing (2020-2028) ($MN)
55 Europe Articulated Robots Market Outlook, By Assembly (2020-2028) ($MN)
56 Europe Articulated Robots Market Outlook, By Processing (2020-2028) ($MN)
57 Europe Articulated Robots Market Outlook, By Other Functions (2020-2028) ($MN)
58 Europe Articulated Robots Market Outlook, By End User (2020-2028) ($MN)
59 Europe Articulated Robots Market Outlook, By Automotive (2020-2028) ($MN)
60 Europe Articulated Robots Market Outlook, By Chemicals (2020-2028) ($MN)
61 Europe Articulated Robots Market Outlook, By Electrical & Electronics (2020-2028) ($MN)
62 Europe Articulated Robots Market Outlook, By Food & Beverages (2020-2028) ($MN)
63 Europe Articulated Robots Market Outlook, By Metal & Machinery (2020-2028) ($MN)
64 Europe Articulated Robots Market Outlook, By Pharmaceuticals & Cosmetics (2020-2028) ($MN)
65 Europe Articulated Robots Market Outlook, By Precision Engineering and Optics (2020-2028) ($MN)
66 Europe Articulated Robots Market Outlook, By Other End Users (2020-2028) ($MN)
67 Asia Pacific Articulated Robots Market Outlook, By Country (2020-2028) ($MN)
68 Asia Pacific Articulated Robots Market Outlook, By Payload (2020-2028) ($MN)
69 Asia Pacific Articulated Robots Market Outlook, By Up to 16 Kg (2020-2028) ($MN)
70 Asia Pacific Articulated Robots Market Outlook, By 16 - 60 Kg (2020-2028) ($MN)
71 Asia Pacific Articulated Robots Market Outlook, By 60 - 225 Kg (2020-2028) ($MN)
72 Asia Pacific Articulated Robots Market Outlook, By More Than 225 Kg (2020-2028) ($MN)
73 Asia Pacific Articulated Robots Market Outlook, By Function (2020-2028) ($MN)
74 Asia Pacific Articulated Robots Market Outlook, By Handling (2020-2028) ($MN)
75 Asia Pacific Articulated Robots Market Outlook, By Welding (2020-2028) ($MN)
76 Asia Pacific Articulated Robots Market Outlook, By Dispensing (2020-2028) ($MN)
77 Asia Pacific Articulated Robots Market Outlook, By Assembly (2020-2028) ($MN)
78 Asia Pacific Articulated Robots Market Outlook, By Processing (2020-2028) ($MN)
79 Asia Pacific Articulated Robots Market Outlook, By Other Functions (2020-2028) ($MN)
80 Asia Pacific Articulated Robots Market Outlook, By End User (2020-2028) ($MN)
81 Asia Pacific Articulated Robots Market Outlook, By Automotive (2020-2028) ($MN)
82 Asia Pacific Articulated Robots Market Outlook, By Chemicals (2020-2028) ($MN)
83 Asia Pacific Articulated Robots Market Outlook, By Electrical & Electronics (2020-2028) ($MN)
84 Asia Pacific Articulated Robots Market Outlook, By Food & Beverages (2020-2028) ($MN)
85 Asia Pacific Articulated Robots Market Outlook, By Metal & Machinery (2020-2028) ($MN)
86 Asia Pacific Articulated Robots Market Outlook, By Pharmaceuticals & Cosmetics (2020-2028) ($MN)
87 Asia Pacific Articulated Robots Market Outlook, By Precision Engineering and Optics (2020-2028) ($MN)
88 Asia Pacific Articulated Robots Market Outlook, By Other End Users (2020-2028) ($MN)
89 South America Articulated Robots Market Outlook, By Country (2020-2028) ($MN)
90 South America Articulated Robots Market Outlook, By Payload (2020-2028) ($MN)
91 South America Articulated Robots Market Outlook, By Up to 16 Kg (2020-2028) ($MN)
92 South America Articulated Robots Market Outlook, By 16 - 60 Kg (2020-2028) ($MN)
93 South America Articulated Robots Market Outlook, By 60 - 225 Kg (2020-2028) ($MN)
94 South America Articulated Robots Market Outlook, By More Than 225 Kg (2020-2028) ($MN)
95 South America Articulated Robots Market Outlook, By Function (2020-2028) ($MN)
96 South America Articulated Robots Market Outlook, By Handling (2020-2028) ($MN)
97 South America Articulated Robots Market Outlook, By Welding (2020-2028) ($MN)
98 South America Articulated Robots Market Outlook, By Dispensing (2020-2028) ($MN)
99 South America Articulated Robots Market Outlook, By Assembly (2020-2028) ($MN)
100 South America Articulated Robots Market Outlook, By Processing (2020-2028) ($MN)
101 South America Articulated Robots Market Outlook, By Other Functions (2020-2028) ($MN)
102 South America Articulated Robots Market Outlook, By End User (2020-2028) ($MN)
103 South America Articulated Robots Market Outlook, By Automotive (2020-2028) ($MN)
104 South America Articulated Robots Market Outlook, By Chemicals (2020-2028) ($MN)
105 South America Articulated Robots Market Outlook, By Electrical & Electronics (2020-2028) ($MN)
106 South America Articulated Robots Market Outlook, By Food & Beverages (2020-2028) ($MN)
107 South America Articulated Robots Market Outlook, By Metal & Machinery (2020-2028) ($MN)
108 South America Articulated Robots Market Outlook, By Pharmaceuticals & Cosmetics (2020-2028) ($MN)
109 South America Articulated Robots Market Outlook, By Precision Engineering and Optics (2020-2028) ($MN)
110 South America Articulated Robots Market Outlook, By Other End Users (2020-2028) ($MN)
111 Middle East & Africa Articulated Robots Market Outlook, By Country (2020-2028) ($MN)
112 Middle East & Africa Articulated Robots Market Outlook, By Payload (2020-2028) ($MN)
113 Middle East & Africa Articulated Robots Market Outlook, By Up to 16 Kg (2020-2028) ($MN)
114 Middle East & Africa Articulated Robots Market Outlook, By 16 - 60 Kg (2020-2028) ($MN)
115 Middle East & Africa Articulated Robots Market Outlook, By 60 - 225 Kg (2020-2028) ($MN)
116 Middle East & Africa Articulated Robots Market Outlook, By More Than 225 Kg (2020-2028) ($MN)
117 Middle East & Africa Articulated Robots Market Outlook, By Function (2020-2028) ($MN)
118 Middle East & Africa Articulated Robots Market Outlook, By Handling (2020-2028) ($MN)
119 Middle East & Africa Articulated Robots Market Outlook, By Welding (2020-2028) ($MN)
120 Middle East & Africa Articulated Robots Market Outlook, By Dispensing (2020-2028) ($MN)
121 Middle East & Africa Articulated Robots Market Outlook, By Assembly (2020-2028) ($MN)
122 Middle East & Africa Articulated Robots Market Outlook, By Processing (2020-2028) ($MN)
123 Middle East & Africa Articulated Robots Market Outlook, By Other Functions (2020-2028) ($MN)
124 Middle East & Africa Articulated Robots Market Outlook, By End User (2020-2028) ($MN)
125 Middle East & Africa Articulated Robots Market Outlook, By Automotive (2020-2028) ($MN)
126 Middle East & Africa Articulated Robots Market Outlook, By Chemicals (2020-2028) ($MN)
127 Middle East & Africa Articulated Robots Market Outlook, By Electrical & Electronics (2020-2028) ($MN)
128 Middle East & Africa Articulated Robots Market Outlook, By Food & Beverages (2020-2028) ($MN)
129 Middle East & Africa Articulated Robots Market Outlook, By Metal & Machinery (2020-2028) ($MN)
130 Middle East & Africa Articulated Robots Market Outlook, By Pharmaceuticals & Cosmetics (2020-2028) ($MN)
131 Middle East & Africa Articulated Robots Market Outlook, By Precision Engineering and Optics (2020-2028) ($MN)
132 Middle East & Africa Articulated Robots Market Outlook, By Other End Users (2020-2028) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
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