Collaborative Robots Market to 2025 by Payload (Up to 5 Kg, 5-10 Kg, and Above 10 Kg), Application (Assembly, Material Handling, Pick & Place, Quality Testing, Packaging, Machine Tending, and Welding) and End-user Industry (Automotive, Metal & Machinery, Electronics, Pharmaceuticals, Plastic & Polymers, and Food & Beverage) – Global Analysis and Forecast
The global collaborative robots market accounted for US$ 420.4 Mn in 2017 and is expected to grow at a CAGR of 46.8% during the forecast period 2018 – 2025, to account for US$ 8979.3 Mn by 2025. As per the application segment, the assembly is expected to dominate the market, for the forecasted period. Currently, majority of the collaborative robots deployments are taking place in automotive industry, where their major function is to assist human workers with assembly of automotive parts. Collaborative robots are most preferred by smaller and medium organizations as they are cost efficient and efficiently streamline the hibernating processes. However, larger organizations occupy the majority share in the market as they were the early adopters and invest significantly into the market.
Key trend which will predominantly effect the market in coming year is advancement in robotics industry.In the coming years as machine learning algorithms and other technologies such as neuromorphic chips improvise their capabilities to enable smarter robots, the collaborative robots in the near future would be able to perform the tasks that only humans can do at the moment, in fact in a better way.
These robots will then be able to access a plethora of database and recognize machines, people and parts, further enabling them to derive critical insights and act upon them.This in coming future is anticipated to be a key trend for the collaborative robots.
In addition, the players in this industry are significantly investing in the development of collaborative robots integrated with artificial intelligence and machine learning.
Collaborative robots market by end-user industry is segmented into automotive, metal & machinery, electronics, pharmaceuticals, plastic & polymers, food & beverages and others.Others segment includes industries such as aerospace, healthcare, and construction among others.
Automotive industry is the most important customer of collaborative robots in the year 2017.Automotive OEM manufacturers heavily relies upon automation in their assembly line as well as automotive component manufacturers also relies upon robotics in their manufacturing process.
These reasons have led to the lion’s share the automotive industry in adoption of collaborative robots.
The overall market size has been derived using both primary and secondary source.The research process begins with an exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the market.
Also, primary interview were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers and national sales managers, and external consultant such as valuation experts, research analysts and key opinion leaders specializing in the collaborative robots industry.
Reasons to Buy Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global collaborative robot’s market - Highlights key business priorities in order to assist companies to realign their business strategies - The key findings and recommendations highlight crucial progressive industry trends in the collaborative robot’s market, thereby allowing players across the value chain to develop effective long term strategies - Develop/modify business expansion plans by using substantial growth offering developed and emerging markets - Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it - Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution - Examine the political, economic, social and technology impact of the five regions namely: North America, Europe, Asia Pacific, Middle East & Africa and South America.
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KEY FINDINGS The global collaborative robots market is poised to rise with a CAGR of 50.02% over the forecast period of 2018-2026. The market is largely driven by factors like growing need for user-friendly automation, increasing demand for robotics, low capital investment in cobot’s leading to a high return on investment...
Global Collaborative Robot Market is Anticipated to Reach $5,441.5 Million by 2023, BIS Research Report Collaborative robot market is anticipated to exhibit fast-paced growth during the forecast period 2018-2023.In the recent years, there have been several new product launches in the market, and a collaborative robot...
368 pages •
By Transparency Market Research
• Jul 2018
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