The global collaborative robots market size is expected to be worth around US$ 15.20 billion by 2030, according to a new report by Vision Research Reports.
The global collaborative robots market size was valued at US$ 750.1 million in 2020 and is anticipated to grow at a CAGR of 45.6% during forecast period 2021 to 2030.
|Market Size||US$ 15.20 bn by 2030|
|Growth Rate||CAGR of 45.6% From 2021 to 2030|
|Forecast Period||2021 to 2030|
|Segments Covered||Payload, Application, Vertical|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||ABB Group; DENSO Robotics; EPSON Robots; Energid Technologies Corporation; F&P Robotics AG; Fanuc Corporation; KUKA AG; MRK-Systeme GmbH; Precise Automation, Inc.; Rethink Robotics, Inc.; Robert Bosch GmbH; Universal Robots A/S; Yaskawa Electric Corporation; MABI AG; Techman Robot by Quanta Storage, Inc.; Franka Emika GmbH; AUBO Robotics Inc.; and Comau S.p.A.|
The collaborative robot or cobot is intended to interact with humans in a shared workspace, physically. The growing adoption in the Small and Medium Enterprises (SMEs) and investments in automation of manufacturing processes are the key factor driving growth. Emergence of robots working along with humans in areas like smart parts assembly and electronics product assembly further fuels the demand.
Increasing demand for performing tasks requiring higher payload capacity is expected to contribute to the rising demand. The ability of cobots to work effectively with employees in an uncaged environment has led to an increased installation in the industry. The co-robots are designed with advanced sensors, software, and End of Arm Tooling (EOATs) that help prevent employee injuries.
By Payload Capacity Analysis
Based on payload capacity, the collaborative robots market is segmented into up to 5kg, up to 10kg, and above 10kg. In 2020, cobots with up to 5kg payload capacity segment accounted for the largest market share, attributed to the flexibility, lightweight, and the capacity of the machine to optimize low-weight collaborative processes such as placing, picking, and testing.
Cobots above 10kg payload capacity is expected to witness significant growth, owing to their capability of handling bigger tasks requiring precision, reliability, and collaborating heavier-weight processes. The robots are anticipated to witness an exponential CAGR of 46.2% over the forecast period.
By Application Analysis
The application segment has been further categorized into assembly, pick and place, handling, packaging, quality testing, machine tending, gluing and welding, and others. In 2020, assembly application segment accounted for the largest market share owing to the ability to combine both repetitive and easy work along with more complex assembly processes.
The rising adoption and applications of pick and place collaborative robot is expected to drive the segment growth over the forecast period. The co-robots are used in pick and place applications across verticals to reduce shrinkage and to increase accuracy while handling inventory. Pick and place robots are lightweight, small in size, and can be deployed in limited space.
By Vertical Analysis
Based on vertical, the market has been segmented into automotive, food and beverage, furniture and equipment, plastic and polymers, metal and machinery, electronics, pharmaceuticals, and others. The automotive industry accounted for a market share of 24% in 2020 and is expected to lead over the forecast period.
Growing shift toward automation to save time and cost is a key factor spurring the adoption of robotic materials handling equipment in the automotive industry. The market is expected to remain innovation-led with the introduction of new metals and chemicals that provide cost-efficiency and weight reduction, and low-manufacturing overheads in automobile manufacture.
By Regional Analysis
Europe is a key revenue-generating region and accounted for a significant market share of around 37% in 2020. The regional growth is attributed to the enormous application of cobots in different verticals such as electronics, logistics, and inspection.
Growing focus on quality and precision of cobots in Asia Pacific has necessitated the implementation of maximum standards, by increasing the deployment of cobots in the region. The ability of the technology to produce better quality products, increased efficiency, reduced wastage, and standardize products is expected to extensively increase the adoption of collaborative robots over the projected period.
ABB Group; DENSO Robotics; EPSON Robots; Energid Technologies Corporation; F&P Robotics AG; Fanuc Corporation; KUKA AG; MRK-Systeme GmbH; Precise Automation, Inc.; Rethink Robotics, Inc.; Robert Bosch GmbH; Universal Robots A/S; Yaskawa Electric Corporation; MABI AG; Techman Robot by Quanta Storage, Inc.; Franka Emika GmbH; AUBO Robotics Inc.; and Comau S.p.A.
Up to 5kg
Up to 10kg
Pick & Place
Gluing & Welding
Food & Beverage
Furniture & Equipment
Plastic & Polymers
Metal & Machinery
Middle East and Africa
The Collaborative Robots market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Collaborative Robots market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Collaborative Robots market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Collaborative Robots market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Collaborative Robots market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Collaborative Robots capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Collaborative Robots by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Collaborative Robots market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Collaborative Robots market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Collaborative Robots market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Collaborative Robots industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Collaborative Robots market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Collaborative Robots market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Collaborative Robots market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Collaborative Robots market. These factors have benefited the growth of the global market for Collaborative Robots. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Collaborative Robots. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Collaborative Robots are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are:
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