A new market research study by Future Market Insights on the collaborative robots market contains global industry analysis 2014–2018 and opportunity assessment 2019–2029. The report investigates the collaborative robots market and provides critical insights for the forecast period of 2019-2029. As per the findings of the report, the global collaborative robots market is anticipated to experience substantial growth over the forecast period due to multiple driving factors such as, growing adoption of automation in end-use industry and reduction in labor cost coupled with high precision work and high regional demand for collaborative robots.
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- The global collaborative robots market size in 2018 was valued at ~US 650
- The collaborative robots market is anticipated to grow at a CAGR of ~26% during the forecast period of 2019-2029.
- The payload capacity up to 5kg segment of collaborative robots is expected to remain as the most preferred product type segment in the collaborative robots market.
- The growth of this particular segment can be primarily attributed to the global growth of the collaborative robots market.
- East Asia is likely to account for more than half of the revenue shares in the collaborative robots industry by the end of 2029.
- East Asia will continue to be a significant market for collaborative robots manufacturers and distributors, owing to the increasing production and demand for collaborative robots in the automated industry.
- The electronic and semiconductor segment is likely to continue as the prominent end-use industry, which creates significant growth opportunities for collaborative robots market players.
- The electronic industry has witnessed significant growth over the recent past. The increased demand for high precision work, accuracy, and easy programing offered by built-in sensitivity of collaborative robots, is expected to propel the demand for collaborative robots.
- Noteworthy application potential of collaborative robots such as assembly/disassembly, material handling, inspection and testing, stamping, etching and dispensing, are creating an upswing in the collaborative robots market.
As the ‘fourth industrial revolution’ sets to take the entire supply chain by storm, companies are making rapid strides to increase productivity and improve resource utilization through integration of highly advanced technologies, without neglecting the human workforce. A range of manufacturing technologies that fuse physical and digital worlds with breakthroughs in Artificial Intelligence (AI), Internet of Things (IoT), industrial robotics, and 3D printing are seen as the main drivers of Industry 4.0.
Additionally, in the ongoing industrial transformation journey, robots are moving from behind fixed and caged locations to work stations alongside human workers. Conventional industrial robots that move with great force have for long been used in several work operations until recently, following the rise of collaborative robots or ‘cobots’.
Today, robotics have become an unstoppable phenomenon. Equipped with powerful onboard computers, multiple advanced sensors, and reliable EOATs, collaborative robots are gaining strong momentum for their versatility, user-friendliness, affordability, and small footprint – much beyond the innate Industry 4.0 compatibility.
Moreover, a number of technologies are taking collaborative robots to new heights, which may come with extensive interactive features to enable recognition of voice commands and more seamless collaboration with human workforce, or be intelligent enough to move away from programmed instructions.
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Structure Analysis:
- The global collaborative robots market is a moderately competitive market. Approximately ~40% share of the market is held by tier-1 players.
- Expansion of the business through mergers, acquisitions, collaborations, and alliances are the strategies followed by key players in the collaborative robots market. Key market players focus on strategies such as adoption of new technologies to develop innovative products, and further enlargement of sales and distribution channels.
- Noteworthy investments in the research and development for novel and sturdy products is projected to boost the growth prospects of the collaborative robots market.
- Major players in the collaborative robots market are Universal Robots A/S, AUBO Robotics, Fanuc Corporation, Stäubli International AG, Robert Bosch GmbH, KUKA AG, Precise Automation, Inc., Denso Wave Incorporated, ABB Group, Yaskawa Electric Corporation, and K2 Kinetics.
- Global and local market players are benefiting from a significant marketing network of distributors. Local and international offices deliver sales and aftersales services to their customers to retain their customers’ base across tier 1 and tier 2 cities.
The rapid revolution of industries is bringing a paradigm shift in businesses, economy, and society. Tremendous changes in the automotive industry, in line with growing desire for enhanced driving experience, improved in-car ambience, and reduced carbon emissions, have promoted the adoption of new technologies to not only accelerate the production pace but also to enable the manufacturing of precise products.
Benefiting from a strong desire for advanced automation technologies, collaborative robots have been witnessing a spike in popularity in the automotive industry. The manufacturing industry in particular, is turning to such robotic technology to compete in response to shrinking labor pools as labor costs increase and baby boomers age.
As e-commerce industry continues to move on an upward swing, the demand for warehouse workers are inevitably exceeding the labor supply, creating an increasing need for automation. The digital transformation of warehouses is thus likely to present tremendous market opportunities for collaborative robots manufacturers. IoT and robotics, including cobots, are further ready to play a significant role in the health care settings.
In an attempt to improve patient-centricity in hospitals and create a better workforce conditions, the healthcare industry is highly likely to move into cobot space, given the enhanced mobility and lightweight nature.
Key Players:
The report highlights some of the prominent market players, who have established themselves as leaders in the global collaborative robots market. Few examples of key players in the market are Universal Robots A/S, AUBO Robotics, Denso Wave Incorporated, Fanuc Corporation, Stäubli International AG, Robert Bosch GmbH, KUKA AG, Precise Automation, Inc., ABB Group, Yaskawa Electric Corporation and K2 Kinetics among others. The global collaborative robots market is significantly dominated by some players holding prominent shares of the market. These players are indulging into strategic alliances, collaborations, mergers and acquisitions. For instance, ABB Group announced a collaboration with Kawasaki Heavy Industries Ltd. to share knowledge and are working on joint technical and awareness opportunities.
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By Segment:
By Payload Capacity
- Up to 5kg
- 5-10kg
- Above 10kg
By Application
- Welding
- Material Handling
- Quality Testing/Inspection
- General Assembly
- Painting/Spraying
- Others (Surgery, Cleaners, Institutional)
By End Use
- Automotive & Transportation
- Electronics & Semiconductors
- Food & Beverage
- Chemical & Pharmaceutical
- Logistics
- Healthcare
- Others (Plastic, Metal & Machinery, Furniture & Equipment
By Region
- Americas
- EMEA
- South Asia & Pacific
- East Asia