Executive Summary Collaborative Robots or Cobot have been in existence for the last ten years but account for less than 5% of the industrial robots market. However, the adoption of Cobot is likely to see accelerated growth in the next five years because of the shortage of skilled labour force in different manufacturing set-ups, more intelligence to the cobots for handling complex tasks and the Covid pandemic that necessitated social distancing among humans. With robots becoming more mobile, more intelligent and more aware of their surroundings, the collaborative robots and exoskeletons are actively taking up tasks in the industrial and consumer related activities.
The Global Collaborative Robot Market was valued at USD 401.25 Million in the year 2020. The reasons attributing to the growth of the market are rapid digitalization, increasing use of emerging automation driven industries in developing countries and rising demand for Collaborative Robots with high payload capacity. Today, business drivers and political/social drivers, in combination with technological advancements, have greatly accelerated the expanded use of Collaborative Robots beyond their traditional industries and traditional roles. The collaborative robotics market is further expected to flourish with increasing government support for automation in industries including, collaborative robotics across the globe. The growing acceptance of collaborative robot with an extensive range of payload capacity such as up to 5 kg, between 5 & 10 kg and more than 10 kg has substantially led to the increasing use of Collaborative robots. Also, the growing demand for Cobots with higher payload capacity can support robotics market in helping consumers to attain more productivity with greater efficiency.
The Covid-19 pandemic has accelerated the usage of robots, leading to a renaissance of industrial production in some regions. Companies around the globe are reassessing their global supply chain business models to better adopt to the post Covid-19 world. This will likely accelerate the introduction of robots as the coronavirus has exposed the limitations of human labor workforce. As the world is continuously fighting the rapid spread of the Covid-19 pandemic, robotics and automation are playing a very crucial role in helping to safeguard the people and in processing the supplies that people need as they are shifting towards remote working and home learning. The cobots are helping in disinfecting the hospitals. Autonomous deliveries from the robots are bringing the supplies to people as they are adopting social distancing. Moreover, automated workstations are speeding up the work of pharmaceutical companies.
The Asia Pacific regional market is expected to become the largest cobots market in the forecast period. The major players operating in the Asia-Pacific Collaborative robots market include ABB Group, Fanuc Corporation, Yamaha Corporation, and Yaskawa Electric Corporation. These players offer a diverse portfolio of robots to cater to the demand of organisations in the region. These vendors have developed affordable, compact, and energy efficient robots for application in small and medium businesses. These players have also acquired and collaborated with other players in the region for portfolio expansion and geographic penetration.
Scope of the Report • The report analyses the Collaborative Robot Market by value (USD Million) and volume (Unit Sales).
• The report analyses the Collaborative Robot Market by End User (Automotive, Electrical & Semiconductor, Food & beverages, Others)
• The report analyses the Collaborative Robot Market by Component (Hardware, Software).
• The report analyses the Collaborative Robot Market by Payload capacity (Up to 5 Kg, between 5 & 10 Kg, more than 10 Kg).
• The Global Collaborative Robot Market has been analysed By Region (United States, Canada, Mexico, Brazil. Germany, France, U.K, China, Japan, India).
• The key insights of the report have been presented through the frameworks of SWOT and Porter’s Five Forces Analysis. Also, the attractiveness of the market has been presented by region, by Payload Capacity, Component, End User
• Also, the major opportunities, trends, drivers and challenges of the industry has been analysed in the report.
• The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include ABB, Yaskawa Electric Corporation, FANUC Corporation, Kawasaki Robotics, Denso Robotics, Bosch, Kuka, Teradyne Inc, Nachi- Fujikoshi, Omron, Staubli Robotics.
• The report presents the analysis of Collaborative Robot market for the historical period of 2016-2020 and the forecast period of 2021-2026.
Key Target Audience
• Robot Design and Development Companies
• Collaborative Robot vendors
• Consulting and Advisory Firms
• Government and Policy Makers
• Regulatory Authorities
Our reports have been used by over 10K customers, including:
The collaborative robot market is expected to grow from USD 1.2 billion in 2021 and is projected to reach USD 10.5 billion by 2027; it is expected to grow at a CAGR of 43.4% during the forecast period. The factors such as easy adaptability and benefits of collaborative robots for businesses of all sizes coupled with growing demand for collaborative...
The AI Robots market is expected to grow from USD 6.9 billion in 2021 to USD 35.3 billion by 2026; it is expected to grow at a CAGR of 38.6% during the forecast period. The major driving factors for the growth of the AI Robots market include rise in demand for industrial robot and rise in adoption of AI robots in healthcare industry to control...
The autonomous mobile robot market is expected to register a CAGR of 15.12% during the forecast period (2021 - 2026). With the improvement of UGVs, one of the major trends in the autonomous mobile robot is the fleet management software with dashboards. It helps in the visualization of paths for path planning and traffic management. Moreover,...
The service robotics market is projected to grow from USD 36.2 billion in 2021 and is projected to reach USD 103.3 billion by 2026; it is expected to grow at a CAGR of 23.3% from 2021 to 2026. The factors such as growing adoption of robots for new applications providing high returns on investment and increased funding for research on robots...
The Global Robotics Market was valued at USD 27.73 billion in 2020 and is expected to reach USD 74.1 billion by 2026, registering a CAGR of 17.45%, during the period of 2021-2026. The rising demand for industrial robots has been triggered by the workforce shortage, owing to the COVID-19-related lockdowns and an upgrade of traditional industries....
The pharmaceutical robots market is projected to reach US$ 383.91 million by 2028 from US$ 159.23 million in 2021; it is expected to grow at a CAGR of 13.4% from 2021 to 2028. Benefits offered by robots in pharmaceutical manufacturing, growing awareness of robotic systems in manufacturing process, increasing investments in pharmaceutical...
Robotics in Travel and Tourism, 2021 Update - Thematic Research Summary Robotics in tourism can address a range of business and consumer concerns.Increased investment in this form of smart technology illustrates that the utilization of robotics in travel is only going to grow. The deployment...
The robot end effector market is expected to grow from USD 1.9 billion in 2021 and is projected to reach USD 4.4 billion by 2026; it is expected to grow at a CAGR of 18.8% during the forecast period. Initiatives by governments and public-private companies to mitigate COVID-19 impact, and growth in the demand of modular end effectors are expected...
The robotic welding market (with peripherals) size is projected to reach USD 11.7 billion by 2026 from an estimated USD 7.1 billion in 2021, at a CAGR of 10.5% from 2021 to 2026. The intensifying adoption of Industry 4.0 principles is among the factors driving the growth of the robotic welding market. The spot welding segment...
The Global Robotics Market was valued at around US$ 31 Billion in 2020 and the market is expected to register a double digit CAGR over the forecast period of 2021 - 2025. The adoption of robots across a wide range of industries including manufacturing, healthcare, defense and security, logistics, inspection and maintenance, automotive, electronics,...
You can change your Cookie Settings at any time but parts of our site will not function correctly without them.