The Collaborative Robot Market is expected to grow from USD 573.12 million in 2020 to USD 1,870.59 million by 2026 at a CAGR of 23.06% from 2020 to 2026.
A Collaborative Robot (cobot) is a robot which is designed to support humans in a certain work by acting as a guide or assistant. Collaborative robots are built to follow human instructions or to react to human behaviors and activities in some way. Easy programming, faster setup, quicker payback in the robot industry, improved robot-human interaction and efficiency, safer work environment, increased return on investment, suitable for small-scale and mid-scale production and safely manages the complicated and dangerous tasks are some of the few of the benefits of the robot. Rising trend for automation of present manufacturing process to increase the productivity coupled with rising penetration of robots in all manufacturing industries are the key drivers for the collaborative robot market growth. Additionally, the key purpose of the robots is process optimization and process intensification. Thus, achieving the maximum yield with minimum expenses coupled with minimum errors is a favorable driving factor for the growth of the market in the coming years. Moreover, high returns on initial investment by using robots and cost of the collaborative robots is lesser compared with traditional robots and accomplish the tasks with more procession and precision, which is projected to foster the market size in the upcoming years. Moreover, the rising demand for collaborative robots from small & medium scale enterprises owing to its low cost and easy of handling is also further projected to propel the market growth. Further, surging demand for high payload potential cobots for heavier operations in the manufacturing industries is anticipated to create enough investment opportunities for the market growth. In addition, the rising trend for cobots along with autonomous mobile robots (AMR) and automatic guided vehicle (AGV) to create more flexible, easier for installation, affordable, more collaborative and other advantages is expected to accelerated the market growth in the coming years. On the other hand, the increased preference to low payload capacity conventional industrial robots over cobots in heavy-duty industries will impede the market growth.
Moreover, the outbreak of the COVID-19 pandemic across the world has boosted the growth for deployment of robots for automation in the medical sector. The industry which has witnessed majorly high focus on robotics is the healthcare industry thus, creating opportunity for the market growth.
The global Collaborative Robot Market is segregated on the basis of Payload Capacity as Up to 5kg, Up to 10kg and above 10kg. Based on Application the global Collaborative Robot Market is segmented in Assembly, Pick & Place, Handling, Packaging, Quality Testing, Machine Tending, Gluing & Welding and Others. Based on Industry the global Collaborative Robot Market is segmented in Automotive, Food & Beverage, Furniture & Equipment, Plastic & Polymers, Metal & Machinery, Electronics and Pharmaceutical.
The global Collaborative Robot Market report provides geographic analysis covering regions, such as Europe, North America, Asia Pacific, and Rest of The World. The Collaborative Robot Market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.
Competitive Analysis
Universal Robots AS, Fanuc Corp., TechMan Robot Inc., Rethink Robotics GmbH, AUBO Robotics USA and others are among the major players in the global Collaborative Robot Market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.
The global Collaborative Robot Market has been segmented as below:
Collaborative Robot Market, By Payload Capacity
Collaborative Robot Market, By Application
Collaborative Robot Market, By Industry
Collaborative Robot Market, By Region
Collaborative Robot Market, By Company
The report covers the below scope:
The years considered for the study are as follows:
Report Scope:
The global Collaborative Robot Market report scope includes detailed study covering underlying factors influencing the industry trends. The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global Collaborative Robot Market share. Major industry players with significant revenue share include Universal Robots AS, Fanuc Corp., TechMan Robot Inc., Rethink Robotics GmbH, AUBO Robotics USA and others.
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1. Introduction
1.1. Key Points
1.2. Report Description
1.3. Markets Covered
1.4. Stakeholders
2. Research Methodology
2.1. Research Scope
2.2. Research Methodology
2.2.1. Market Research Process
2.2.2. Research Methodology
2.2.2.1. Secondary Research
2.2.2.2. Primary Research
2.2.2.3. Models for Estimation
2.3. Market Size Estimation
2.3.1. Bottom-Up Approach
2.3.2. Top-Down Approach
3. Executive Summary
4. Market Overview
4.1. Introduction
4.2. Drivers
4.3. Restraints
4.4. Opportunities
4.5. Challenges
5. Collaborative Robot Market, By Payload Capacity
5.1. Key Points
5.2. Up to 5kg
5.3. Up to 10kg
5.4. above 10kg
6. Collaborative Robot Market, By Application
6.1. Key Points
6.2. Assembly
6.3. Pick & Place
6.4. Handling
6.5. Packaging
6.6. Quality Testing
6.7. Machine Tending
6.8. Gluing & Welding
6.9. Others
7. Collaborative Robot Market, By Industry
7.1. Key Points
7.2. Automotive
7.3. Food & Beverage
7.4. Furniture & Equipment
7.5. Plastic & Polymers
7.6. Metal & Machinery
7.7. Electronics
7.8. Pharmaceutical
8. Competitive Landscape
8.1. Introduction
8.2. Start-up companies- Collaborative Robot Market
8.3. Recent Developments
8.3.1. Mergers & Acquisitions
8.3.2. New Product Developments
8.3.3. Portfolio/Production Capacity Expansions
8.3.4. Joint Ventures, Collaborations, Partnerships & Agreements
8.3.5. Others
9. Company Profile
9.1. Universal Robots AS
9.2. Fanuc Corp.
9.3. TechMan Robot Inc.
9.4. Rethink Robotics GmbH
9.5. AUBO Robotics USA
9.6. ABB Ltd.
9.7. Kawasaki Heavy Industries Ltd.
9.8. Precise Automation Inc.
9.9. Siasun Robot & Automation co. Ltd.
9.10. Staubli International AG
9.11. Omron Corporation
9.12. Festo Group
9.13. Epson Robots(Seiko Epson)
9.14. KUKA AG
9.15. DENSO Robotics
9.16. Energid Technologies Corporation
9.17. F&P Robotics AG
Collaborative Robot Market, By Payload Capacity
Collaborative Robot Market, By Application
Collaborative Robot Market, By Industry
Collaborative Robot Market, By Company