According to the latest report by IMARC Group, "Global Collaborative Robot Market Size, Share, Growth, Industry Trends, Opportunity and Forecast 2022-2027", the global collaborative robot market size reached US$ 1.31 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 11.82 Billion by 2027, exhibiting a CAGR of 41.20% during 2022-2027.
A collaborative robot, alternatively known as a cobot, is a robot that is capable of learning various tasks to facilitate direct human-robot interaction in a shared space. It relies on cognitive computing, machine vision, and touch and mobile technologies. Collaborative robot models remain aware of their surroundings through demonstration and reinforcement learning. They consume less energy in comparison to their larger autonomous counterparts and utilize collision detection technologies to avoid injuring human coworkers. Collaborative robot variants also minimize errors, increase productivity, and offer enhanced operating results. Consequently, they find extensive applications across several sectors, including electronics, automotive, manufacturing, food and beverage (FB), etc.
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Market Trends and Drivers:
The emerging trend of industrial automation, especially across developing countries, and the rising demand for high payload capacity robot models are among the key factors driving the collaborative robot market. In addition to this, the integration of torque and force sensing technologies in these robot variants is also positively influencing the global market.
Moreover, the rising usage of cobots in the manufacturing process, such as on the assembly lines and welding, is acting as another significant growth-inducing factor. Besides this, the increasing need for user-friendly robots that do not require a highly skilled workforce to carry out operations is further augmenting the market growth. Additionally, the growing requirement for cobot applications in the packaging sector to enhance production rates and in the logistics industry to handle complicated work processes is anticipated to propel the collaborative robot market in the coming years.
Global Collaborative Robot Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Collaborative Robot Companies:
ABB Ltd., AUBO (Beijing) Robotics Technology Co. Ltd., DENSO WAVE Incorporated (Denso Corporation), Kawasaki Heavy Industries Ltd., KUKA AG (Midea Group), Omron Corporation, Precise Automation Inc. (Brooks Automation Inc), Doosan Robotics Inc. (Doosan Group), Fanuc Corporation, Rethink Robotics GmbH, TechMan Robot Inc. (Quanta Storage Inc.), Universal Robots (Teradyne Inc) and Yaskawa Electric Corporation.
The report has segmented the market on the basis of component, payload, application, end use industry and region.
Breakup by Component:
- Hardware
- Software
Breakup by Payload:
- Upto 5 Kg
- 5-10 Kg
- Above 10 Kg
Breakup by Application:
- Material Handling
- Pick and Place
- Assembly
- Palletizing and De-Palletizing
- Others
Breakup by End Use Industry:
- Automotive
- Electronics
- Manufacturing
- Food and Beverage
- Chemicals and Pharmaceutical
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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