The report, now available on ASDReports, recognizes the following companies as the key players in the global parallel robots market: ABB, Codian Robotics, FANUC, and OMRON.
Other Prominent Vendors in the market are: Epson Robotics, Kawasaki Heavy Industries, Mitsubishi Robotics, Penta Robotics, Staubli Robotics, and Yamaha Robotics.
Commenting on the report, an analyst said: “A key trend which is boosting market growth is the integration of Internet-of-things (IoT) in delta robots. Advances in sensors, hardware, and software have made the delta robots more intelligent and autonomous in their capabilities. Vendors are offering their services through smart devices and Wi-Fi technology for remote operation of delta robots. As these devices offer enhanced flexibility and convenience in operations, end-users prefer these technology-enabled robots in factory facilities. The end-users are also implementing IoT in factories to make their factory a connected entity.”
According to the report, a key growth driver in the market is the increase in cumulative saving of organizations in deploying parallel robots. Parallel robots are versatile and can be easily programmed to adapt to new assembly lines without any training. The functioning of these robots can be extended overnight and weekends without any human supervision. Parallel robots produce defect-free products and reduce product failure and wastage. These robots require minimum heating and lighting, which considerably reduces energy consumption.
Further, the report states that a major factor that could hamper market growth is the low adoption rate of parallel robots in SME sector. SMEs lack the knowledge of robotics compatibility with their business and its efficiency. They also have low capability of long-term investment, technical expertise outside core business, and awareness of technological improvements. They also fear taking credit from banks to invest in robotics, as they do not have sufficient capital to repay in case of economic instability.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.