About Collaborative Robots
Collaboration robots are the robots which are capable of learning multiple tasks so they can assist human beings. It is also known as a cobot. It has many roles from autonomous robots of working together with humans to industrial robots which having their protective guards removed. It has highly complex machines that are able to work hand in hand with human beings. The rising number of industries moving to automation worldwide, the rise in need for user-friendly automation, low capital investment in Cobot’s leading to a high return on investment (ROI) robotic application gaining traction, increasing demand for light, as well as the moderate payload capacity of co-bots due to their ease of deployment, high adaptability, affordability, are some of the major drivers which are propelling the growth of the market. The global collaborative robots market to grow at a CAGR of 60.59% during the period 2018-2022.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Collaborative Robots market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Universal Robots A/S (Denmark), Rethink Robotics (United States), ABB (Switzerland), KUKA AG (Germany), FANUC Corporation (Japan), Robert Bosch GmbH (Germany), MRK-Systeme GmbH (Germany), Precise Automation, Inc. (United States), Energid Technologies Corporation (United States) and F&P Robotics AG (Switzerland) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are MABI AG (Switzerland), Techman Robot by Quanta Storage, Inc. (Taiwan), Franka Emika GmbH (Germany), AUBO Robotics Inc. (United States), YASKAWA Electric Corporation (Japan), Comau S.p.A. (Italy) and KAWADA Robotics Corp. (Japan)..
Segmentation Overview
AMA Research has segmented the market of Global Collaborative Robots market by , Application (Material handling, Small parts assembly, CNC machine tending, Molding operations, Test & inspection, gluing, Dispensing, Welding, Packaging & palletizing, Screw driving, Polishing and others) and Region.
On the basis of geography, the market of Collaborative Robots has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Industry, the sub-segment i.e. Automotive will boost the Collaborative Robots market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Payload Capacity, the sub-segment i.e. Up to 5 Kg will boost the Collaborative Robots market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Hardware will boost the Collaborative Robots market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technology Advancement of the Collaborative Robot
Market Growth Drivers:
High ROI and Low Price of Collaborative Robots Attracting SMEs, Increasing Investments in Automation by Industries, Improving Human–Machine Interface (HMI) and Rising Integration of AI to Imitate Human Behavior and Strong government support to promote the use of factory automation solutions
Challenges:
Addressing the Need to Safely Handle Industrial-Grade Operations, Developing AI to Help Robots Make Better Decisions and Make them Safe for Humans, Cybersecurity Threats and Rapid Technological Changes in Robotics, Safety Standards Issues, and a Lack of a Skilled Workforce and Limitation of Robots in Interacting With the Real World & Their Ability
Restraints:
Lack of Capabilities Related to Faster Cycle Time and Repeatability, High Overall Installation Cost for Low-Volume Production Applications and Numerous Governments and Regulatory Bodies Have Come Up with Stringent Laws and Regulations
Opportunities:
Rising Demand from Emerging Economics Such as India, China and Others, High Potential for Robot Installations in Many Countries and Demand for High-Payload-Capacity Co-Bots
Market Leaders and their expansionary development strategies
On June 2018, the Universal Robots (Denmark) and ABB Company (Switzerland) has partnered with Kawasaki Heavy Industries Ltd. (Japan) in order to develop a common interface for co-bots for offering a simplified human-robot interface with intuitive, smartphone-like navigation, as well as icons, On June 2018, the ABB Company (Switzerland) Company expanded its product portfolio of collaborative robots with the launch of single-arm YuMi collaborative robot IRB 14050 and On May 2018, with investments of above JPY USD 17 billion, FANUC (Japan) has expanded its production capacity with the construction of 3 factories at its headquarters in Japan
On February 2018, the Fanuc Corporation (Japan) Company had announced the acquisition of Life Robotics, which is a manufacturing company specializing in these systems. This acquisition will help in strengthening the position of the company.
Key Target Audience
Manufacturers of collaborative robots, Suppliers of collaborative robots, Wholesalers, distributors and retailers of collaborative robots, Research and Development (R&D) Companies, Research Organization, Federal Agencies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.