The rising adoption of industrial robots to boost the Robot Teach Pendant Market growth

Robot Teach Pendant Market

Robot Teach Pendant Market by Type (Electric Drive Robots, Hydraulic Drive Robots, Pneumatic Drive Robots), By Application (Material Handling, Welding Application, Painting Application), And By Region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa)- Size, Share, Outlook, and Opportunity Analysis, 2022 – 2030

The global Robot Teach Pendant Market is estimated to be valued at US$ 199.88 million in 2022 and is expected to exhibit a CAGR of 9.6 % over the forecast period, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

A teach pendant equipment is required to regulate an industrial robot from a distance place. The instrument enables its monitor to function with robots without the necessity of tethering to a particular terminal. Teach pendants to provide varied settings to regulate robots and are even used to create new abilities and properties.

Competitive Landscape:

The key players involved in the growth of the global Robot Teach Pendant Market are DENSO Robotics, Mitsubishi Electric Corporation, ABB, FANUC, Intelitek,  Nachi Robotic Systems,  Stäubli International, Yamaha Robotics, KUKA, Omron Adept Technologies, Yaskawa Motoman, Comau, Epson America, Festo, and Seiko.

Market Key Drivers:

The rising adoption of industrial robots is expected to augment the growth of the global Robot Teach Pendant Market. For instance, as per IFR, over 2.7 million industrial robots are in operation currently across the globe.

Rising approvals and launches of the product are projected to propel the growth of the global Robot Teach Pendant Market. For instance, in June 2018, ABB Ltd, introduced OmniCore, a robot that enhances flexibility, viability, and working.

Covid-19 Impact Analysis:

The Covid-19 outbreak has adversely affected the growth of the global Robot Teach Pendant Market due to the strict lockdown policies imposed by the government. The disruption in the supply chain and the closure of manufacturing and production units along with the halt in transportation has impeded market growth.

Key Takeaways:

The global Robot Teach Pendant Market is anticipated to exhibit a CAGR of 9.6 % during the forecast period owing to the rising collaborations and partnerships for the product expansion. For instance, in April 2019, FANUC and Preferred Network Inc., entered a collaboration to introduce a novel AI function known as AI Servo Monitor which collects data for the axes.

Among regions, North America, Europe, and Asia Pacific are expected to witness robust growth in the global Robot Teach Pendant Market due to rising R&D, increasing approvals and launches, rising use of industrial robots, and increasing regulatory initiatives. For instance, as per IRF, over 34,987 industrial robots were installed in U.S in 2021.