Impact of COVID-19: Collaborative Robot Market is projected to reach a value of over USD 25.8 billion by 2027 at a CAGR of around 48.9%.
COLLABORATIVE ROBOT MARKET: Summary
The Global Collaborative Robot Market is projected to reach a value of over USD 25.8 billion by 2027 at a CAGR of around 48.9%.
The collaborative robot also known as cobot is a type of robot which intended to interact physically with the human in a shared workplace. Most collaborative robots have a rounder shape without any internalized wires and motors and pinch points. These robots also have the ability to detect abnormal motion force applied to their joints. Collaborative robots also programmed to respond by immediately reversing or stopping the position when they come into human contact. Collaborative robots are used in many industrial applications such as pick and place, packaging and palletizing, quality inspection, lab analysis, and testing, assembly, polishing, and machine tending among others. Key players in the collaborative market are Fanuc Corporation, ABB, Universal Robots, and KUKA among others.
COLLABORATIVE ROBOT MARKET: Drivers & restraints
- Increasing Adoption of Machine Learning and Artificial Intelligence Technology
Currently, artificial intelligence and machine learning are being applied in limited ways to enhance the capabilities of robotics systems. Artificial intelligence (AI) and machine learning will completely improve industrial robotic accuracy, profitability, consistency, and efficiency. AI, machine learning, and edge computing will have a transformative impact on collaborative robots. These technologies are used in collaborative robots for detecting and recognizing the items, to control the obstacle avoidance and dynamic interaction for maintaining productivity, and to understand physical and logistical data patterns.
Hence, the adoption of AI and machine learning in robotics is expected to boost the market during the upcoming years.
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- Adoption of Industry 4.0
In recent years, industries are becoming more versatile, flexible, safer, and collaborative to maintain the level of the ecosystem. Many manufacturing and automotive industries are adopting industry 4.0 for constantly operating at high speed, reducing operating costs, increasing reliability, flexible outputs, and achieving greater accuracy. With the help of sensors, detectors, motors, and cameras, collaborative robots can serve flexible output in terms of the finished product. The major object of using collaborative robots in the industry to perform various operations such as packaging, quality control, testing, and many others. Hence, the adoption of industry 4.0 will help manufacturers for increasing productivity as well as accuracy is expected to drive the market during the forecast period.
- High Initial Installation Cost for Low Volume Production Application
Many global players use collaboration robots for mass production with greater accuracy, flexibility, and reducing the operation time. In terms of the medium-scale manufacturers, they can not afford this technology due to it requires huge initial investment costs. Moreover, the high maintenance cost of the collaborative robot due to less operating work among others is expected to restrain the market growth during the upcoming years.
COLLABORATIVE ROBOT market: Key segments
- Based on load capacity: Up to 5KG, 5 to 10KG, 10 to 15 KG, and More Than 15KG
- Based on type: Power and Force Limiting, Safety Monitored Stop, Speed and Separation, and Hand Guiding
- Based on component: Hardware, Software, and Services
- Based on application: Quality Inspection, Pick and Place, Injection molding, CNC, Packaging and Palletizing, Assembly, Polishing, Machine Tending, Screw Driving, Lab Analysis & Testing, and Gluing, Dispensing, and Welding
- Based on end user: Automotive, Healthcare, Electronics & Semiconductor, Aerospace & Defense, Oil & Gas, Metal & Mining, Manufacturing, Food & Beverages, Logistics, and Others
- Segmentation based on region covers: North America, Asia Pacific, Europe, Middle East & Africa and South America, with individual country-level analysis.
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COLLABORATIVE ROBOT MARKET: Report SCOPE
The report on the collaborative robot market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Report FeaturesSpecificsHistorical/Estimated/Forecasted Market Size Years2018–2027Base Year for Market Calculation2019Forecasted Period2020–2027 (2021 estimated year, forecasted up to 2027)Measured UnitsValue (USD Million)Segments IncludedLoad Capacity, Type, Component, Application, and End-UserRegional CoverageNorth America, Asia-Pacific, Europe, Middle East & Africa, South Africa, South America
KEY Companies Covered
- Fanuc Corporation (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- KUKA AG
- Universal Robots
- Yaskawa Electric Corporation
- Kawasaki Heavy Industries, Ltd.
- TECHMAN ROBOT INC.
- DENSO WAVE INCORPORATED
- MABI Robotic AG
- Robert Bosch GmbH
- Energid Technologies Corporation
- Other Key Companies
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COLLABORATIVE ROBOT MARKET: report segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
COLLABORATIVE ROBOT Market, by Load Capacity
- Up to 5KG
- 5 to 10KG
- 10 to 15 KG
- More Than 15KG
COLLABORATIVE ROBOT Market, by Type
- Power and Force Limiting
- Safety Monitored Stop
- Speed and Separation
- Hand Guiding
COLLABORATIVE ROBOT Market, by Component
- Power Supply
COLLABORATIVE ROBOT Market, by Application
- Quality Inspection
- Pick and Place
- Injection molding
- Packaging and Palletizing
- Machine Tending
- Screw Driving
- Lab Analysis and Testing
- Gluing, Dispensing, and Welding
COLLABORATIVE ROBOT Market, by End User
- Electronics & Semiconductor
- Aerospace & Defense
- Oil & Gas
- Metal & Mining
- Food & Beverages
COLLABORATIVE ROBOT Market, by Region
- North America
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
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Table of Content
2 Research Design & Scope
3 Executive Summary
4 Market Dynamics
5 Industry Trends — Porters Five Forces Analysis
6 GLOBAL COLLABORATIVE ROBOT MARKET BY LOAD CAPACITY, Market Size in USD Million (2019–2027)
7 GLOBAL COLLABORATIVE ROBOT MARKET BY TYPE, Market Size in USD Million (2019–2027)
8 GLOBAL COLLABORATIVE ROBOT MARKET BY COMPONENT, Market Size in USD Million (2019–2027)
9 GLOBAL COLLABORATIVE ROBOT MARKET BY APPLICATION, Market Size in USD Million (2019–2027)
10 Competitive Landscape
11 Company Profiles
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