Global Collaborative Robots Market Size By Industry (Automotive, Electronics, Metals And Machining, Plastics And Polymers), By Application (Handling, Assembling And Disassembling), By Geographic Scope And Forecast

Collaborative Robots Market Size And Forecast

Collaborative Robots Market size was valued at USD 1.53 Billion in 2021 and is projected to reach USD 36.01 Billion by 2030, growing at a CAGR of 42.25% from 2023 to 2030.

The demand for high-payload-capacity co-bots is growing, Industries are increasing their investments in the automation sector, the high return on investment and low cost of collaborative robots are attracting small and medium businesses and the potential for robot installation in many nations is growing. The Global Collaborative Robots Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Collaborative Robots Market Definition

A Collaborative Robot (cobot) is a robot that is designed to assist humans in a certain task by acting as a guide or assistant. Collaborative robots are configured to follow human instructions or to respond to human behaviors and activities in some way. Easy programming, quick setup, faster payback in the robot industry, better robot-human interaction and efficiency, increased return on investment, safer work environment, suitable for small-scale and mid-scale production, and safely handles of complex and dangerous tasks are just a few of the advantages of the robot.

The International Federation of Robotics (IFR), a global industry organization of robot manufacturers and national robot associations, distinguishes between two categories of robots Industrial robots used in automation and Domestic and professional service robots Because they are designed to work alongside people, service robots could be dubbed cobots. Industrial robots have historically worked in isolation from humans, separated by fences or other barriers, but cobots eliminate this barrier.

Information robots in public spaces (an example of a service robot), logistics robots that transport materials within a building, and industrial robots that help automate unergonomic tasks such as assisting people in moving heavy parts, machine feeding or assembly operations are all examples of cobot applications.

Global Collaborative Robots Market Overview

Collaborative robots (cobots), unlike typical industrial robots, deliver a quick return on investment (as little as 6 months in many circumstances), which benefits both SMEs and major corporations. One of the main reasons for its adoption is this. Emerging enterprises that offer low-cost cobots, as well as their rising affordability, are causing a surge in adoption across a variety of industries.

Low-payload cobots are less expensive and take up less space than higher-payload robots. As a result, they are favored by first-time users. COBOTTA, a cobot from DENSO (Japan), for example, has an intrinsically safe design due to its low weight and so does not require as many sensors as higher payload cobots, keeping it more inexpensive. The demand for high-payload-capacity co-bots is growing, industries are increasing their investments in the automation sector.

The high return on investment and low cost of collaborative robots are attracting small and medium businesses, and the potential for robot installation in many nations is growing. For teaching purposes, collaborative robots are also becoming more economical, easier to use, and less sophisticated. This will largely provide enterprises with a variety of possibilities, increasing the drive and demand for these robots. Because collaborative robots use the latest sensors and plug-and-play technology, they enable industries of all sizes and scales to stay competitive.

Global Collaborative Robots Market Segmentation Analysis

The Global Collaborative Robots Market is Segmented on the basis of Industry, Application, and Geography.

Collaborative Robots Market, By Industry

• Automotive
• Electronics
• Metals and machining
• Plastics and polymers
• Food & beverages
• Furniture and equipment
• Healthcare
• Others

Based on Industry, the market is bifurcated into Automotive, Electronics, Metals and machining, Plastics and polymers, Food & beverages, Furniture and equipment, Healthcare, and Others. For most purposes, the electronics sector requires low payload cobots (up to 5 kg), which are less expensive to procure. Low-payload cobots are also smaller and easier to integrate into the manufacturing floor. Most collaborative robots currently have a 0.1 mm or less accuracy, making them perfect for handling and assembling fragile circuit boards and PCBs alongside human employees.

Collaborative Robots Market, By Application

• Handling
• Assembling and disassembling
• Welding and soldering
• Dispensing
• Processing
• Others

Based on Application, the market is bifurcated into Handling, Assembling and disassembling, Welding and soldering, Dispensing, Processing, and Others. Human workers now undertake some of the most basic and repetitive duties in the world, such as pick and place and palletizing. When working in industries such as food and beverage and healthcare, human workers are not only prone to errors and damage, but they are also at risk of contamination.

Machine tending necessitates personnel standing for long periods of time next to a CNC or injection molding machine. Collaborative robots can automate a machine tending process without supervision during off-hours, increasing output. Several cobot manufacturers, like KUKA (Germany) and F&P Robotics (Switzerland), provide in-house-made grippers as an optional buy with their robots due to the popularity of handling applications.

Collaborative Robots Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

On the basis of Regional Analysis, the Global Collaborative Robots Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. by 2021, APAC is likely to overtake Europe in the Collaborative Robots Market. This is owing to APAC’s vast manufacturing industries, particularly in the automotive, electronics, and metals industries. Regional players like Doosan Robotics (South Korea) and Techman Robot (Taiwan) have created robots that can compete directly with European cobot makers.

Key Players

The “Global Collaborative Robots Market” study report will provide valuable insight with an emphasis on the global market. The major players in the Market are Universal Robots (Denmark), Techman Robot (Taiwan), FANUC (Japan), KUKA (Germany), Doosan Robotics (South Korea), AUBO Robotics (US), ABB (Switzerland), YASKAWA (Japan), Precise Automation (US), Rethink Robotics (US). The competitive landscape section also includes key development strategies, Market share, and MARKET ranking analysis of the above-mentioned players globally.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into Active, Cutting Edge, Emerging, and Innovators categories.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Collaborative Robots Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the Global Collaborative Robots Market, gauge the attractiveness of a certain sector, and assess investment possibilities.

Report Scope

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Research Methodology of Market Research

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various p