What is Collaborative Robots Market?
Collaboration robots are the robots which are capable of learning multiple tasks so they can assist human beings. It is also known as a cobot. It has many roles from autonomous robots of working together with humans to industrial robots which having their protective guards removed. It has highly complex machines that are able to work hand in hand with human beings. The rising number of industries moving to automation worldwide, the rise in need for user-friendly automation, low capital investment in Cobot’s leading to a high return on investment (ROI) robotic application gaining traction, increasing demand for light, as well as the moderate payload capacity of co-bots due to their ease of deployment, high adaptability, affordability, are some of the major drivers which are propelling the growth of the market. The global collaborative robots market to grow at a CAGR of 60.59% during the period 2018-2022.
Highlights from Collaborative Robots Market Study
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | Universal Robots A/S (Denmark), Rethink Robotics (United States), ABB (Switzerland), KUKA AG (Germany), FANUC Corporation (Japan), Robert Bosch GmbH (Germany), MRK-Systeme GmbH (Germany), Precise Automation, Inc. (United States), Energid Technologies Corporation (United States) and F&P Robotics AG (Switzerland) |
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Collaborative Robots market throughout the forecasted period.
Universal Robots A/S (Denmark), Rethink Robotics (United States), ABB (Switzerland), KUKA AG (Germany), FANUC Corporation (Japan), Robert Bosch GmbH (Germany), MRK-Systeme GmbH (Germany), Precise Automation, Inc. (United States), Energid Technologies Corporation (United States) and F&P Robotics AG (Switzerland) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are MABI AG (Switzerland), Techman Robot by Quanta Storage, Inc. (Taiwan), Franka Emika GmbH (Germany), AUBO Robotics Inc. (United States), YASKAWA Electric Corporation (Japan), Comau S.p.A. (Italy) and KAWADA Robotics Corp. (Japan).. Collaborative Robots Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Material handling, Small parts assembly, CNC machine tending, Molding operations, Test & inspection, gluing, Dispensing, Welding, Packaging & palletizing, Screw driving, Polishing and others |
Industry | Automotive,Electronics,Metals & Machining,Plastics & Polymers,Food & Beverages,,Healthcare |
Payload Capacity | Up to 5 Kg,Between 5 and 10 Kg,Above 10 Kg |
Component | Hardware,Sensors,Control System,Actuator,Software Services |
On the basis of geography, the market of Collaborative Robots has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technology Advancement of the Collaborative Robot
Market Growth Drivers:
High ROI and Low Price of Collaborative Robots Attracting SMEs, Increasing Investments in Automation by Industries, Improving Human–Machine Interface (HMI) and Rising Integration of AI to Imitate Human Behavior and Strong government support to promote the use of factory automation solutions
Challenges:
Addressing the Need to Safely Handle Industrial-Grade Operations, Developing AI to Help Robots Make Better Decisions and Make them Safe for Humans, Cybersecurity Threats and Rapid Technological Changes in Robotics, Safety Standards Issues, and a Lack of a Skilled Workforce and Limitation of Robots in Interacting With the Real World & Their Ability
Restraints:
Lack of Capabilities Related to Faster Cycle Time and Repeatability, High Overall Installation Cost for Low-Volume Production Applications and Numerous Governments and Regulatory Bodies Have Come Up with Stringent Laws and Regulations
Opportunities:
Rising Demand from Emerging Economics Such as India, China and Others, High Potential for Robot Installations in Many Countries and Demand for High-Payload-Capacity Co-Bots
Key Target Audience
Manufacturers of collaborative robots, Suppliers of collaborative robots, Wholesalers, distributors and retailers of collaborative robots, Research and Development (R&D) Companies, Research Organization, Federal Agencies and Others
Market Leaders & Development Strategies
On June 2018, the Universal Robots (Denmark) and ABB Company (Switzerland) has partnered with Kawasaki Heavy Industries Ltd. (Japan) in order to develop a common interface for co-bots for offering a simplified human-robot interface with intuitive, smartphone-like navigation, as well as icons, On June 2018, the ABB Company (Switzerland) Company expanded its product portfolio of collaborative robots with the launch of single-arm YuMi collaborative robot IRB 14050 and On May 2018, with investments of above JPY USD 17 billion, FANUC (Japan) has expanded its production capacity with the construction of 3 factories at its headquarters in Japan
On February 2018, the Fanuc Corporation (Japan) Company had announced the acquisition of Life Robotics, which is a manufacturing company specializing in these systems. This acquisition will help in strengthening the position of the company.