Global Packaging Robots Market 2017-2021
About Packaging Robots
Global packaging robots market will witness growth during the forecast period, as industrial robots have experienced demand from various industries that include major users such as food and beverage, electronics and semiconductor, and pharmaceutical industries. There are four major factors that will act as catalysts for the market growth of packaging robots.
Technavio’s analysts forecast the global packaging robots market to grow at a CAGR of 9.58% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global packaging robots market for 2017-2021. To calculate the market size, the report considers the sales and installation of packaging robots, and maintenance, replacement, and retrofit of packaging robots and allied system software.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Packaging Robots Market 2017-2021
Technavio recognizes the following companies as the key players in the global packaging robots market: ABB, FANUC, KUKA, Universal Robotics, and Yaskawa Motoman
Other Prominent Vendors in the market are: Bosch Rexroth, Comau Robotics, and DENSO Robotics.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Prioritizing safety measures. With the advances in robotic technology and automation, industries are widely adopting robots. Developments in robotic technology have emphasized on safety parameters. Packaging robots are installed in the assembly line and work in collaboration with industrial workers. These robots work in the multiple areas and directions, due to which they are equipped with multiple safeguards.”
According to the report, one of the major drivers for this market is Optimization of operational cost. With the increase in awareness about robotic technology, developments in automation and artificial intelligence can be seen globally. Characteristics of industrial robots, such as easy installation, are resulting in the market growth of packaging robots. As these robots can work autonomously without any human intervention, the incorporation of packaging robots for various packaging applications has increased. Robots can perform multiple applications, which reduces the manual labor, resulting in the reduction of operational cost.
Further, the report states that one of the major factors hindering the growth of this market is Implementation cost. Packaging robots are cost-intensive when compared with traditional methods and manually operated equipment. The advanced components incorporated in packaging robots are expensive, which results in an increased manufacturing cost and higher product price. Therefore, many cost-sensitive small and medium enterprises have resisted the implementation of packaging robots. The availability of low-cost manual labor is the substitute for small and medium enterprises, which is a primary factor challenging the market growth of global packaging robots. To keep the operational cost as low as possible, industries adopt low-cost methods.
ABB, FANUC, KUKA, Universal Robotics, Yaskawa Motoman, Bosch Rexroth, Comau Robotics, DENSO Robotics
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