Global Robotic End-Effector Market Growth Significantly Influenced by Developments in Technology

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.

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