The global industrial cobot market size is estimated to reach USD 12.89 billion by 2027, growing at CAGR of 45.3% from 2020 to 2027.
The growth of the industrial cobot market is driven by rise in demand for automation, availability of affordable and energy-efficient industrial cobots, and surge in investment in R&D activities. However, high installation cost limits the growth of the market. Furthermore, rise in robot installation in various industry verticals across the globe offers lucrative opportunities for the industrial cobot market growth.
The key players profiled in the industrial cobot market report include ABB Ltd, The Fanuc Corporation, Kawasaki Heavy Industries Ltd., Nachi Fujikoshi Corporation, Yaskawa Electric Corporation, KUKA AG, Seiko Epson Corporation, Staubli International AG, Universal Robots A/S, and Teradyne. These key players have adopted strategies, such as product launches, business expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations, to enhance their industrial cobot market share.
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