ICT Industry Reports

Global Robotic Arm Market Overview Global robotic arm market is forecast to exhibit a CAGR of over 13% during the forecast period, growing from more than $20 billion in 2019, on account of rising demand for automation, owing to increasing labor charges. With addition of insurance, compensation, paid leave, training expenses, and other benefit packages, wages for human workers are rising, which is boosting the robotic arm market across the globe. Robotic arms can perform repetitive and heavy tasks with efficiency. Increasing focus on improving the productivity of large production volume, in addition to advancements in artificial intelligence and development of sophisticated sensors are augmenting the development of self-programmable robots. However, high capital costs associated with robots prevent small enterprises from purchasing them. Global Robotic Arm Market Segments Payload capacity of a robotic arm determines the amount of weight a robotic arm can lift or carry. Based on the pay...