The global Cartesian robots market accounted for US$ 45,840.3 Mn in 2018 and is expected to grow at a CAGR of 11.9% during the forecast period 2019 - 2027, to account to US$ 15,007.9 Mn by 2027. The Cartesian robot market is poised to flourish in the coming years owing to the fact that, several developing country governments are attracting foreign direct investments (FDI) to optimize hectic and monotonous operations performed across industries with ease and precision. Additionally, the demand for 3D vision technology is growing at a rapid rate among the end users, which is compelling the manufacturers to innovate and develop robust software and hardware for Cartesian robot systems. The 3D vision systems, when coupled with software such as machine vision software such as RoboRealm and Visionscape, enhances the performance of a vision-guided Cartesian robot during the execution of any tasks. The vision-guided Cartesian robots integrated with machine vision software are suitable for applications such as pick and place, bin picking, welding, assembling, racking, dispensing, and product sorting, among others. Attributing to the benefits of the 3D vision technology paired with machine vision software, the end users are increasingly adopting the latest technology, which is boosting the market for Cartesian robots market globally.
Based on Industry Verticals, the global Cartesian robots market has been segmented into manufacturing, automotive, electrical & electronics, food & beverages, chemical & petrochemical and others. The electrical & electronics segment is expected to grow at a CAGR of 13.5% during the forecast period. The global electrical & electronics market was valued at US$ 1,124.9 Mn in 2018 and is expected to reach US$ 3,253.4 Mn by 2027. Volatile consumer electronics markets and dynamic changing demands from consumers have left little or no room for errors for the consumer electronics manufacturers. Therefore, the consumer electronics manufacturers look for high precision instruments and processes to be integrated into their manufacturing processes. Further, the rising demand for smartphones, laptops, tablets, smart watches, and consumer electronic products has intrigued the manufacturing industry to increase their production capacity. According to the Moore’s law, the size of the Integrated Circuits (IC) is shrinking in every 2 years, thus felicitating the usage of Cartesian robots to work on nano structures. Creating circuit boards, inserting parts into injection molding, final assembly applications, CNC processes and metal stamping are among the processes that are likely to be automated by electronics manufacturers. For effective automation, these processes need great flexibility, speed, and precision through a robot system. However, ROI still acts a hindrance to the market growth in the electronics industry. With the decreasing prices of Cartesian robots, the market is anticipated to gain pace during the coming years.
The automotive industry is among the early adopters of Cartesian robots in their assembly lines and production processes. Automotive OEMs as well as parts manufacturers are readily using robotics to help them in achieving the demand and maintain the product quality. The gratification of human error in an assembly line is minimized by the adoption of robotics to mitigate human interventions and also minimize the risk factor for employees. The mass production of automotive vehicles have further encouraged the adoption of robotics into the production process. Cartesian robots exuberate high precisions and repeatability that is leveraged to a great extent in the automotive assembly line.
Some of the players present in global Cartesian robot market are ABB Ltd., Aerotech Inc., Akribis Systems, Bosch Rexroth AG, Denso Corporation, Epson America Inc., Gudel Group AG, KUKA AG, MKS Instruments Inc., Suruga, and Yamaha Motor Co., Ltd., among others. These players are influencing the growth of the Cartesian robot market.
The overall global Cartesian robot market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the Cartesian robot market. Also, multiple primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Cartesian robot market.