Robot Kit Market to Reach US$ 2,546.5 Million with CAGR of 10.2% by 2033

The assembly robot market refers to the industry involved in the production, distribution, and deployment of robots specifically designed for assembly line automation and manufacturing processes. Assembly robots are industrial robots that are programmed to perform tasks such as picking, placing, sorting, and assembling components or products in a manufacturing setting.
The market for assembly robots has been experiencing significant growth in recent years due to the increasing demand for automation in manufacturing industries. Assembly robots offer various benefits, including increased productivity, improved product quality, reduced labor costs, and enhanced workplace safety. They are widely used in industries such as automotive, electronics, aerospace, consumer goods, and pharmaceuticals.
Factors driving the growth of the assembly robot market include:
• Increasing need for efficiency and productivity: Assembly robots enable manufacturers to streamline their production processes and achieve higher levels of efficiency and productivity. With the ability to work at high speeds and with precision, assembly robots can significantly increase the output and reduce production cycle times.
• Technological advancements: The advancement of robotic technologies, such as improved sensing capabilities, vision systems, and collaborative features, has expanded the application possibilities for assembly robots. This has led to increased adoption across various industries.
• Labor cost reduction: Rising labor costs and the need to address labor shortages in some regions have prompted manufacturers to automate their assembly lines. Assembly robots offer a cost-effective solution by reducing the reliance on manual labor and improving overall operational efficiency.
• Safety considerations: Assembly robots are designed with built-in safety features to ensure the well-being of human workers. Collaborative robots, also known as cobots, are specifically designed to work alongside humans in a shared workspace, further enhancing workplace safety.

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Key Takeaways from Market Study

• The global robot kit market is projected to expand at an impressive CAGR of 10.2% and be valued at US$ 2,546.5 million by 2033.
• The market witnessed 7.1% CAGR for the period of 2018-2022.
• Under the end user segment, intermediate robot kits are predicted to dominate the market and is estimated to be valued at US$ 463.7 million in 2023.
• China is expected to dominate the market share in East Asia by likely accounting for 63.7% of its market share in 2023.
• STEM robot kits under product type segment is likely to represent 24.1% market share in 2023.
• Sales of robot kit through online sales channel is predicted to have a market valuation of US$ 658.5 million in 2023.

How U.S. Assembly Robot Market will grow?

Whatever the product being manufactured, reducing waste and embracing leanness within the organization is necessary to survive in a competitive marketplace. Assembly robots can greatly expand production capacity and reduce inefficiencies in the manufacturing process, putting companies on par with their competitors in no time.
By opting for robotic assembly, companies can skip processes such as manual layout, marking, positioning, and tracking. All of these tasks can be delegated to robots that can assemble and weld with unmatched precision.
In 2020, manufacturing contributed US$ 2,269.2 to US GDP, while including direct and indirect value-added, manufacturing accounts for an estimated 24% of U.S. GDP. The rising manufacturing industry in the country can provide numerous opportunities for the utilization of assembly robots. The U.S. market is poised to capture a market share of 92.2% in 2023 and grow at a healthy CAGR during forecast period.

Competitive Landscape

Aside from doing various jobs, assembly robots are also capable of identifying parts based on their size, colour, and shape. Additionally, it may sort the pieces in accordance with the specified task. The use of very sensitive and highly sophisticated sensors can facilitate and improve this procedure.
To increase the chances of selling the goods, key players should concentrate on integrating their robots with such cutting-edge technology. A margin for income generating may also be created by making such assembly robots affordable for the end customers.
To get a substantial market share, competitors should establish long-term partnerships and collaborations. Additionally, having a stable market share creates a good possibility for revenue.

Major Players of Robot Kit Market
• Dexter Industries
• ClicBot
• HEBI Robotics
• Lynxmotion
• Makeblock
• OWI Inc
• Sphero, Inc
• Technical Laboratory Systems, Inc
• VEX Robotics
• Weeemake STEAM Tech Co. Ltd

Segmentation of Robot Kit Industry Research Report

• By Type:
o STEM Robotic Kits
o Robotic Arm Kits
o Programmable or Coding Robotics Kits
o Classroom Robotics Kits
o Industrial Robotics Kits
o Others

• By End User:
o Beginner/ Kids
o Intermediate
o Professional

• By Sales Channel:
o Online Sales
 Company Owned Platform
 e-Commerce Websites
o Offline Sales
 Electronics Stores
 Franchised Stores
 Independent Stores
 Other Sales Channel

• By Region:
o North America
o Latin America
o Europe
o East Asia
o South Asia & Oceania
o MEA

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This release was published on openPR.