Collaborative Robots Market Overview, Downstream Applications, Development History 2019-2023
Posted: Feb 11, 2019
A collaborative robot or a cobot is a robot designed to collaborate with humans. Collaborative robots are capable of safely working alongside humans, improving productivity and quality of the products in the process. Collaborative robots are capable of various light and heavy lifting tasks which drives their adoption among large-, small-, and medium-sized enterprises. Cobots are in high demand mainly due to increasing labor costs worldwide in agriculture, manufacturing, and construction industries. Cobots are deployed in numerous applications such as packaging, quality testing, material handling, machine tending, assembling, gluing, and welding. As organizations embrace industrial automation, the demand for Collaborative Robots Market to perform various repetitive tasks such as loading, unloading and transportation of goods is expected to increase. Advancements in machine learning, edge computing, and robotics industry also drives the market growth. Moreover, implementation of artificial intelligence with cobots is an emerging industry trend that enhances the sensing capabilities of the cobots and boosts its computational power. Growing trend for human-robot collaboration, ease of use and installation, low cobots costs, lightweight & mobility, and adoption of Industry 4.0 standards are some of the major factors driving the growth of collaborative robots market. Universal Robots, a Danish robot manufacturer developed the first cobots UR5 in 2008 and since then various other robot manufacturers have subsequently manufactured and launched cobots.
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The prominent players in the collaborative robots are ABB (Switzerland), KUKA AG (US), FANUC Corporation (Japan), Robert Bosch GmbH (Germany), Universal Robots A/S (Denmark), Rethink Robotics (US), MRK-Systeme GmbH (Germany), Precise Automation, Inc. (US), Energid Technologies Corporation (US), F&P Robotics AG (Switzerland), MABI AG (Switzerland), Universal Robots (Denmark), Techman Robot (Taiwan), YASKAWA Electric Corporation (Japan) and KAWADA Robotics Corporation (Japan).
Global Collaborative Robots Market, 2018-2023 (USD Million):
The global collaborative robots market is expected to generate a market value of USD 3538.46 million by 2023 growing at a 54.22% CAGR during the forecast period 2018–2023.
Collaborative robots market study aims at different segments such as payload, type, components, application, vertical, regions, and estimating market growth across these segments.
- By payload, the market is segmented into up to 5kg, 5kg to 10 kg, and above 10 kg.
- By type, the market is segmented into safety monitored stop, speed & separation, power & force limiting, and hand guiding.
- By component, the market is segmented into controllers, drives, sensors, end effectors, and others.
- By application, the market is segmented into pick and place, handling, packaging and palettization, assembling, quality testing, machine testing, welding and gluing and others.
- By vertical, the market is segmented into automotive, electronics & semiconductor, manufacturing, metals & mining, food & beverages, healthcare, aerospace and others.
- By region, the market is segmented into North America, Europe, Asia-Pacific, and the rest of the world.
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The global market for collaborative robots is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of collaborative robots market is studied for North America, Europe, Asia-Pacific, and the the rest of the world. Europe accounted for the largest market share for collaborative robots due to growing penetration of factory automation solutions, government initiatives supporting Industry 4.0 drive, and adoption of cobots in manufacturing and automobile sectors. Furthermore, developed countries such as Germany, the UK, and France are deploying cobots in various industry verticals such as automotive, electronics & semiconductor, manufacturing, metals & mining, food & beverage, healthcare, and aerospace fueling the market growth in this region. Another major factor that triggers the market growth is the presence of key market players in this region such as ABB, Robert Bosch GmbH, KUKA AG and MRK-Systeme GmbH. North America holds the second largest market share in the collaborative robots market due to growing penetration of cobots in countries such as the US, Canada, and Mexico. Asia-Pacific collaborative market is expected to grow at a higher rate due to this region witnessing growing demand for automation in countries such as China, Japan, and India.
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