The global Collaborative robot market
The main factors propelling the market for Collaborative robot markets are the development of various applications for the assembly and production of electronic goods, new automotive processes, and various modeling operations used in small and medium-sized manufacturing companies. Cobots, also called Collaborative robot markets, can handle a wide range of tasks to assist people/workforce. Moreover, built-in sensors, passive compliance, and overcurrent detection are some of the safety features that Collaborative robot markets possess, thereby, driving the growth of the market.
Increase in applications for manufacturing across the world
Cobots, or Collaborative robot markets (a new robotics paradigm), developed, in which robots and humans work together on the same projects bringing-in significant advancement in robotics, with enormous potential for many industries, including manufacturing.
Like the ABB YuMi, Cobots work alongside an assembly worker at a shared desk. Automatic tool changers enable quicker and more complex operations, absolute precision, continuous fastener or bonding material supply, which further ensures consistent product quality.
Faster ROI and Low-Cost Deployment
Collaborative robot markets have been scientifically proven to be more cost-effective than their industrial counterparts, primarily due to their ability to automate more tasks per robot. Moreover, the ease of creating a Collaborative robot market reduces the time and resources required for integration, lowering the automation investment. Collaborative robot markets include safety features and do not require fences or other industrial safety equipment, thus, reducing costs while shortening integration time. When compared to industrial robots, the low cost of deploying a Collaborative robot market makes it far more accessible to a broader customer base.
High training requisite for workforce
Over the last decade, manufacturers have found it more challenging to hire employees to complete their factories' specialized tasks. The presence of automation adds another layer to the dilemma, as the robots require operations’ programming. This provides additional opportunities for existing employees to be trained and expand their skill set. A company specializing in automation can help with the initial installation and setup. With proper training and experience, staff can learn new skills and adapt to manage robots over time. Therefore, the requirement for a highly skilled team and workforce can hamper the market growth of Collaborative robot markets.
Covid impact on cobots
Almost every industry, including automotive, electronics, metals & machining, plastics & polymers, food & beverages, healthcare, furniture & equipment, and others have been significantly impacted by COVID-19. During the COVID-19 pandemic, factors such as a lack of cash flow and a cash shortage limited the growth of industries.
Almost every industry in the world has been affected by the coronavirus (COVID-19) pandemic, including machinery, industrial automation, and robotics. Most nations implemented a lockdown to combat the COVID-19 pandemic and have now gradually ease it. As a result, the manufacturing industry has been significantly impacted. For example, factories in China, Italy, and India, among other countries, had to temporarily close which affected the market of the collaborative robots.
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Market Segmentation
The global Collaborative robot market is divided into Payload Capacity, Application, and Industry. Based on Payload Capacity, the market is divided into Up to 5 Kg, Between 5 and 10 Kg, and Above 10 Kg. By Application, the market is divided into Assembly, Pick & Place, Machine Tending, Quality Testing, Material Handling, Packaging & Palletizing, Gluing & Welding, and Others. By Industry, the market is divided into Automotive, Electronics, Metals & Machining, Plastics & Polymers, Food & Beverages, Healthcare, Furniture & Equipment, and Others.
Market Players
Major market players are Universal Robots A/S, Rethink Robotics, ABB, KUKA AG, FANUC Corporation, Robert Bosch GmbH, major market players in the global Collaborative robot market
Some of the key developments by the top market players are
- In June 2018, TheHAHN Group acquired Rethink Robotics. The acquisition would expand the HAHNGroup robotic division and service portfolio.
- In December2020, ASEA Brown Boveri Ltd. introduced a "Wizard Easy Programming",a block-based programming interface to make programming its single-arm YuMi Cobotseasier. The company also claimed that it aims to make its cobots easier to setup for those who don't know how to program, decreasing the entrance barrier.
| Attribute | Details |
| Base Year | 2022 |
| Historic Data | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Million, and CAGR for 2018-2022 and 2023 – 2028 |
| Report coverage | Revenue forecast, company share, growth factors, and trends |
| Segments covered | Payload Capacity Application Industry |
| Regional scope | North America; Asia-Pacific; Europe; South America; Middle East |
| Country scope | United States; Canada; Mexico; China; Indian; Japan; South Korea; Australia; Singapore; Malaysia; Germany; United Kingdom; France; Italy; Spain; Poland; Colombia; Brazil; Argentina; Peru; Chile; Africa, Saudi Arabia; South Africa; UAE; Iraq; Turkey |
| Key companies profiled | Universal Robots A/S, Rethink Robotics, ASEA Brown Boveri, KUKA AG, FANUC Corporation, Robert Bosch GmbH, MRK-Systeme GmbH, Precise Automation, Inc., F&P Robotics AG, Energid Technologies Corporation |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
