Robot End-Effector Market Worth $5.7 Billion by 2024 – Exclusive Report by MarketsandMarkets™

According to the new market research report "Robot End-Effector Market by Type (Welding Guns, Grippers, Suction Cups, Tool Changers), Applications (Handling, Assembly, Welding), Industry (Automotive, Electrical & Electronics, Food & Beverages, E-Commerce), and Geography – Global Forecast to 2024", published by MarketsandMarkets™, the Robot End-Effector Market is expected to grow from USD 2.6 billion in 2019 to USD 5.7 billion by 2024, at a CAGR of 16.9% during the forecast period. Due to the fast-changing nature of industries today, demand for modular end-effectors is increasing. Hence, growing demand for modular end-effectors is one of the key factors driving the growth of the robot end-effector market. Another driver for the robot end-effector market includes increasing adoption of collaborative robots (Cobots) owing to their benefits and features.

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