Press release
SCARA Robot Market is Estimated to Soar High at 10.3% CAGR through 2031 as Automation Gains Prominence in Manufacturing Space
Skyquest Technology
SCARA Robot Market [https://www.skyquestt.com/report/scara-robot-market] size was valued at USD 10.17 billion in 2022 and is poised to grow from USD 11.17 billion in 2023 to USD 23.91 billion by 2031, growing at a CAGR of 10.3 % during the forecast period (2024-2031).
The rapid adoption of automation coupled with advancements in robotics technology are forecasted to be the key driving forces behind SCARA robot market development. Selective Compliance Assembly Robot Arm (SCARA) robots are majorly utilized in different assembly settings for industries to automate repetitive tasks. The growing popularity of the Industry 4.0 trend is also forecasted to favor market growth in the future.
The rising need for automation to enhance productivity in multiple industry verticals is promoting the adoption of SCARA robots around the world. Electronics and automotive industries are projected to be major contributors to the soaring demand for SCARA robots over the coming years. A high emphasis on the manufacturing sector to reduce expenses and maximize production is forecasted to help bolster sales of SCARA robots in the future. Innovation and affordability will be key prospects that a SCARA robot will be judged on so companies need to nail these aspects to gain market share going forward.
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New Launch Remains the Top Priority for All SCARA Robot Companies
Innovation is estimated to be an unmissable aspect for new and established SCARA robot manufacturers to maximize their market presence. All market players are forecasted to keep launching new products to stay competitive and improve their revenue generation capabilities. Targeting the automation and Industry 4.0 trends will help companies maximize their business potential in the future. Development of collaborative SCARA robots could also help companies amplify their market share. The growing penetration of digital technologies in the manufacturing space is also setting the tone for a highly lucrative SCARA robot demand outlook. The creation of affordable yet highly functional SCARA robots should be the prime focus of any SCARA robot market player in the long run.
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* In November 2023, the addition of IRB 930 helped ABB expand its industrial SCARA robot range to optimize assembly operations. Three variants of this new robot werelaunched, and ABB had claimed that these new offerings provide a 10% increase in throughput.
* In October 2023, Epson Robots, a top provider of SCARA robots in the world, launched a new portfolio of SCARA robots titled GX-B Series. This new range is equipped with SafeSense Technology and GYROPLUS vibration reduction technology to improve production speeds in industrial settings.
* In January 2021, OMRON Corporation, a leading name in the electronics business based in Japan, launched a new i4 series SCARA robot. The offering featured easy installation, high-precision, and high-speed capabilities to compete with existing products in the market.
* Canadian robot maker and leading name in the robotics business, Mecademic Robotics, launched its novel micro-SCARA robot back in May 2023. This was the smallest and 50% lighter than any other SCARA robot available in the market at the time of its launch. The company took a leap in microautomation with this move.
View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/scara-robot-market
High adoption of automation and emphasis on productivity maximization are continually generating new business opportunities for SCARA robot providers. Integration of machine learning, Internet of Things (IoT), and artificial intelligence will also help SCARA robot manufacturers maximize the efficacy of their offerings. Customization and development of application-specific SCARA robots will potentially alter the global SCARA robot market growth trajectory across the forecast period and beyond.
Related Reports:
Robotics Market [https://www.skyquestt.com/report/robotics-market]
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