Multi-Function Robot Market by Type (Articulated Robot, SCARA Robot, Cartesian Robot, Delta Robot), by Application (Handling, Welding, Assembling & Disassembling, Others), Industry Verticals (Automotive, Electrical & Electronics, Plastic, Rubber, & Chemical, Food & Averages, Pharmaceutical, Others) and Region (North America, Europe, Asia Pacific, RoW) – Global Forecast to 2030
Multi-functional Robots are programmable multifunction operators for handling mechanical parts or workpieces that can automate several manufacturing applications. In recent times, a single industrial robot can perform multiple applications. The various applications include material handling, material removal, painting, sealing, foundry, inspection, cleanroom, die casting, thermal spray, and bonding.
Multi-functional robots can be configured with four axes, five axes, or six axes. Integrating a multipurpose robot with a tool changer allows for the automatic changing of the robot’s EOAT (End of arm tooling) for the ability to complete multiple machining processes without disruption The global Multi-functional Robot market size is expected to grow from USD XX million in 2024 to USD XX million by 2030, at a CAGR of XX%. The increasing adoption of cost-effective robots and the growing need to reduce human effort in production are the major factors fueling the growth of the multi-functional Robot
To know about the assumptions considered for the study, Request for Free Sample Report
Drivers: The cost and effectiveness associated with the multi-functional robot will accelerate their adoption among industries
Industries outfit their existing robots with a system of low-cost software components to implement multitasking. This is customized and reprogrammed remotely to execute new movements according to the manufacturer's specifications. Industries prefer multi-functional robots for all the costs, and time associated and maintenance, saving labor, and resources
Adaptability makes multi-tasking robots very useful in the domain of high-mix, low-volume manufacturing. For instance, high-volume production, with its repetitive tasks, has seen an increased to reduce the need for manual labor. Multi-functional Robot offers solutions that include robotic picking, packing, palletizing, machine tending, and optimized automated intralogistics. This will boost scalability both upward and downward to handle swinging demands from the supply chain and reduce the total cost by reducing topics such as floor space required or intermediate stock. This will benefit the market of multi-functional market.
The anticipated shortage of skilled laborers in industries
Companies, especially in the manufacturing sector in USA, Germany, and China, are heading to growth since the past decade which in turn is expected to face workforce shortage within a few years. The shortage is mainly due to its prevalence in jobs with many repetitive and ergonomically unfavorable tasks. Moreover, high labor costs imply higher wage rates and employee benefits while benefiting workers which can reduce the company’s profit. For instance, the state of Michigan introduced 4.0 initiative to equip small manufacturers with knowledge and resources to adopt industry 4.0 technology. To compensate with the shortage of labor, the stakeholders are opting for new solutions to improve their productivity and substitute human labor. This will positively influence the market opportunities for multi-functional robots in industrial sector.
Challenges: The complexity in industrial processes increases the difficulty in developing multi-functional robot technologies
With the increased competition, businesses need to deploy robots that can multi-task to cut costs and help improve productivity. Robots need to identify people, objects, and environments while simultaneously interacting with them in an industrial setup. For example, a robot deployed at a warehouse to place objects needs to pick the object from a human employee, navigate his way to another section of the warehouse, and place the object in the rightful place. So, the adoption of the different applications will create interoperability and integration issues. Hence, robots need to be developed with advanced versions of artificial intelligence, NLU, machine learning technologies, and superior hardware so that they can carry out multiple tasks with ease. This can be challenging to customize based on all industrial needs and wants.
Key Market Players:
FANUC (Japan), Kuka (Germany), ENGEL (Austria), OnRobot (Denmark), Mitsubishi Electric Corporation (Japan), ABB (Switzerland), Borunte Robot Co., Ltd. (China), HIBEX INDIA Private Limited (US), ESTUN AUTOMATION CO., LTD (China), Denso (Japan), Seiko Epson (Japan) are few of the companies operating in multi-functional robot market.
- In October 2022, EDAG has announced the development of autonomous multifunctional robot in Frankfurt. EDAG CityBot is an autonomous vehicle which can be used for variety of applications such as group taxi, supermarket hero, clean-up vehicle, delivery vehicle, etc.
- In February 2022, Verdant Robotics has announced the expansion of its robot-as-a-service (RaaS) model and has developed multi-action, autonomous farm-robot which is capable of performing laser weeding, millimeter-accurate spraying, and AI-based digital crop modeling.
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
Exclusive indicates content/data unique to MarketsandMarkets and not available with any competitors.
TABLE OF CONTENTS
1 Introduction
1.1. Study Objectives
1.2. Definition
1.3. Study Scope
1.3.1. Markets Covered
1.3.2. Geographic Scope
1.3.3. Years Considered
1.4. Currency
1.5. Key Stakeholders
1.6. Summary of Changes
2 Research Methodology
2.1. Research Data
2.2. Secondary Data
2.2.1. Major Secondary Sources
2.2.2. Key Data from Secondary Sources
2.3. Primary Data
2.3.1. Key Data from Primary Sources
2.3.2. Key Participants in Primary Processes across Market Value Chain
2.3.3. Breakdown of Primary Interviews
2.3.4. Key Industry Insights
2.4. Market Size Estimation
2.5. Market Breakdown and Data Triangulation
2.6. Risk Analysis
2.7. Research Assumptions and Limitations
3 Executive Summary
4 Premium Insights
5 Industry Trends and Market Overview
5.1. Introduction
5.2. Market Dynamics
5.2.1. Drivers
5.2.2. Restraints
5.2.3. Opportunities
5.2.4. Challenges
5.3. Value Chain Analysis
5.4. Market Ecosystem
5.5. Pricing Analysis
5.5.1. Average Selling Price (ASP) of Key Players
5.5.2. Average Selling Price (ASP) Trends
5.6. Trends/Disruptions Impacting Customers
5.7. Technology Analysis
5.8. Key Stakeholders and Buying Criteria
5.8.1. Key Stakeholders and Buying Process
5.8.2. Buying Criteria
5.9. Porter’s Five Forces Analysis
5.10. Case Study Analysis
5.11. Patent Analysis
5.12. Trade Analysis
5.13. Tariffs and Regulatory Landscape
5.13.1. Regulatory Bodies, Government Agencies, and Other Organization
5.13.2. Regulations & Standards
6 Multi-Functional Robot Market, By Type
6.1. Introduction
6.2. Articulated Robot
6.3. SCARA Robot
6.4. Cartesian Robot
6.5. Delta Robot
7 Multi-Functional Robot Market, By Applications
7.1. Introduction
7.2. Handling
7.3. Welding
7.4. Assembling and Disassembling
7.5. Others
8 Multi-Functional Robot Market, By Industry Vertical
8.1. Introduction
8.2. Automotive
8.3. Electrical & Electronics
8.4. Plastic, Rubber, & Chemical
8.5. Food & Beverages
8.6. Pharmaceutical
8.7. Others
9 Multi-Functional Robot Market, By Region
9.1. Introduction
9.2. North America
9.2.1. US
9.2.2. Canada
9.2.3. Mexico
9.3. Europe
9.3.1. UK
9.3.2. Germany
9.3.3. France
9.3.4. Italy
9.3.5. Rest of Europe
9.4. APAC
9.4.1. China
9.4.2. Japan
9.4.3. India
9.4.4. Rest of APAC
9.5. RoW
9.5.1. South America
9.5.2. Middle East
9.5.3. Africa
10 Competitive Landscape
10.1. Overview
10.2. 5-Year Revenue Analysis- Top 5 Companies
10.3. Market Share Analysis: Seamless Biometric Market (Top 5)
10.4. Company Evaluation Quadrant, 2021
10.4.1. Star
10.4.2. Pervasive
10.4.3. Participant
10.4.4. Emerging Leader
10.5. Startup/SME Evaluation Quadrant, 2021
10.5.1. Progressive Companies
10.5.2. Responsive Companies
10.5.3. Dynamic Companies
10.5.4. Starting Blocks
10.5.5. Startup/ SME Data Table
10.6. Company Footprint
10.7. Competitive Benchmarking
10.8. Competitive Situations and Trends
11 Company Profiles
11.1. Introduction
11.2. Key Players
11.2.1. FANUC
11.2.2. Kuka
11.2.3. IAI
11.2.4. Estun
11.2.5. Engel
11.2.6. Onrobot
11.2.7. Mitsubishi Electric
11.2.8. ABB
11.2.9. BORUNTE
11.2.10. Hibex
11.3. Other Key Player
12 Adjacent & Related Market
13 Appendix
Note: The above-mentioned Table of Content is tentative and might change during course of research study.
Growth opportunities and latent adjacency in Multi-Function Robot Market