Collaborative Robot Market will Surpass US$ 17,090.1 Mn Mark by the end of forecast period of 2022-2030 by Reports and Insights

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    The report is titled as ‘Collaborative Robot Market: Opportunity Analysis and Future Assessment 2020-2028’. An overview of conceptual frameworks, analytical approaches of the collaborative robot market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market. Collaborative robot market is expected to grow with significant rate in the near future.

    The global collaborative robot market in 2020 is estimated for more than US$ 889.1 Mn and expected to reach a value of US$ 17,090.1 Mn by 2028 with a significant CAGR of 44.8%.

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    Collaborative Robot Introduction

    A robot particularly crafted for direct cooperation with a human within a prescribed cooperative workspace is basically known as a collaborative robot or more commonly known as a cobot.  In other words, a preserved space where the humans and a robot interact and collaboratively perform assigned jobs simultaneously during an automated operation.

    In the present-day world, the modern manufacturing systems are revolutionizing steadily as the system methods, layouts and integration keep changing constantly. Such times call for innovations and collaborative robots or cobots are considered as practical solutions.

    Also, collaborative robots are reformulating the robot and human relationship in a whole new manner in the overall manufacturing industry, which is resulting in acceptance and adoption of collaborative robots by all the small and giant companies in the global market.

    The human-robot shared workspace can improve their efficiency rapidly as robots have the potential for easy and repetitive handling tasks and on the other hand, humans have exceptional intellectual and cognitive skills for contemplating and adapting to any kind of changes in the operation. Thus, the collaborative robot market is projected to witness significant growth in the forthcoming future.

    Collaborative Robot Market Dynamics

    The surging financing in the automation of manufacturing procedures all across the world is one of the key drivers, expected to boost the growth of the global collaborative robot market in the approaching years. More importantly, the advent of robots working alongside humans or replacing humans in various applications in numerous industries across the globe and delivering more efficiently is also contributing to the stimulating demand for collaborative robots in the market.

    Owing to this, the collaborative robot market is expected to grow swiftly in the near future. Along with that, there are several benefits of human-robot collaboration or collaborative robots such as the blend of robots and humans have a great potential to enhance performance enormously as long as the tasks are optimally divided.

    In addition to that, the robot-human combination provides for several different degrees of automation and human intercession. Additionally, the work can be partially automated to a certain extent if a fully automated solution is not affordable or too complicated.

    Attributing to such factors, the demand for collaborative robots or cobots is estimated to shoot higher in the near future. Hence, the global collaborative robot market is projected to witness a huge breakthrough during the forecast timeframe.

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    Collaborative Robot Market Segmentation

    The collaborative robot market is segmented on the basis of payload capacity, application, industry, and region.

    By Payload Capacity

    • Up to 5 Kg
    • Between 5 and 10kg
    • Above 10kg

    By Application

    • Assembly
    • Pick and Place
    • Material Handling
    • Packaging and Palletizing
    • Quality Testing
    • Machine Tending
    • Gluing and Welding
    • Others

    By Industry

    • Automotive
    • Electronics
    • Metals and Machining
    • Plastics and Polymers
    • Food & Beverages
    • Furniture and Equipment
    • Healthcare
    • Others

    By Region

    • North America
    • Latin America
    • Europe
    • Asia Pacific
    • Middle East
    • Africa

    Collaborative Robot Market Key Players

    Some of the key participating players in the collaborative robot market are

    • Universal Robots A/S
    • Rethink Robotics
    • ABB
    • KUKA AG
    • FANUC Corporation
    • Robert Bosch GmbH
    • MRK-Systeme GmbH
    • Precise Automation, Inc.
    • Energid Technologies Corporation
    • F&P Robotics AG
    • MABI AG
    • Techman Robot by Quanta Storage, Inc.
    • Franka Emika GmbH
    • AUBO Robotics Inc.
    • YASKAWA Electric Corporation
    • Comau S.p.A.
    • KAWADA Robotics Corp002E

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