Globally, the collaborative robots market size is set to grow at a CAGR of 22.60%, estimated to reach USD 16.73 Billion by 2032 driven by the higher returns for industries by human-robot collaboration. Cooperative robots are utilized straightforwardly with people to complete different undertakings. They accompany elements like sensors, over-current location and aloof consistency.
The expense of the enterprises is overseen through robots. Then again, businesses utilizing robots can build the efficiency of the undertaking. They can complete any undertakings securely inside closeness with people. The interest in cooperative robots is ascending because of weighty modern tasks.
Further, the utilization of robots prompts more advantages to any industry. Lately, the expense of these robots is becoming reasonable. The requirement for preparing the staff and work costs decrease because of the robots. Likewise, seriousness in the business is kept up with through these robots. The cooperative robots accompany sensors, CAD and attachment play innovations. A portion of these robots is used for bundling and machine tending. The cooperative robots market is divided by various payloads that are profoundly productive.
Heavy manufacturing sectors like the automobile and energy industries increasingly deploy collaborative robots. With robots becoming smaller & more precise, the electronics and instrumentation sectors are also adopting the technology. Additionally, the metals and machining sectors consistently demonstrate significant opportunities for collaborative robots.
The system will be capable of transporting boxes, totes, and carts. The company will use the funds to develop robots that seamlessly integrate into its surroundings to enhance operational efficiency and human potential. This funding will accelerate its mission to bring the world's first truly practical cobots to market.
The emergence of covid 19 is bringing many challenges in the global markets. The pandemic is causing supply chain disruptions in the collaborative robots market. The restriction and lockdowns are delaying production. Manufacturing these cobots has become difficult due to these restrictions. There are many key players in the collaborative robots market. These key players are facing revenue losses during this period.
The deployment of robots in industries has become difficult in the situation. Therefore, the demand rate of the collaborative robots market remains stagnant. However, these market issues are expected as short-term problems. With less spread of the virus, the collaborative robots market will regain demand. Also, the logistics sector will have the highest requirement for these robots for various applications. These factors will ultimately bring positive growth to the collaborative robots market. Also, demand from the automotive and electrical market will be high for cobots.
The higher returns for industries by human robot collaboration are a demand driving factor. The collaborative robots are deployed in the manufacturing plants. They are efficient, increase productivity and are cost-efficient. The price of the installation of cobots is comparatively lower than traditional robots. Collaborative robot applications wide range that increases adoption. The traditional robots have a different cost for arms, conveyors, controllers and other safety features. Also, their cost of hardware is separate and higher.
However, the cobots are standalone and affordable. The overall cost of cobots includes various costs. Any industry investing in cobots can gain higher returns. These factors attract more end-users to adapt to the cobots. Further, cobots are suitable for both small and large scale organisations. Traditional robots are heavy machines for heavy-duty tasks. Their cost makes them affordable for only large scale enterprises. However, the demand for cobots is from many type of enterprise. The high demand from various industries is another resistance of the collaborative robots market.
The rising demand for automation in the health industry will create plenty of growth opportunities. The trend of deploying robots in hospitals and health facilities is growing. Especially, during the pandemic, the demand for these robots is high from the health care sector. These collaborative robots were used to disinfect and clean patient rooms during the pandemic. Also, the Asia Pacific region uses robots to screen and carry covid tests on patients. Hospitals can follow covid 19 norms though the cleaning helps from robots. In the upcoming years, collaborative robots will do much more tasks in the health industry.
This new development will increase the supply rate of this market. Further, the key players are developing cobots that come with sophisticated vision features. These cobots can measure oxygen, blood pressure and pulse rate. The demand rate for these robots will be immense in the upcoming years. Further, the advanced task performing capabilities of these robots will lead to more development in the collaborative robots market. All these factors create a substantial growth rate in the forecast year 2032.
The low power limits of collaborative robots is a serious resistant of the collaborative robots market. Traditional robots are heavy machines with greater payload capacity. These sturdy robots are used for automotive and industrial purposes. For heavy manufacturing operations, most of the industries choose traditional robots. However, for safety reasons, the cobots come with less payload capacity. This lower capacity makes them unsuitable for heavy-duty manufacturing sectors.
The less demand from these crucial manufacturing units can affect the collaborative robots market growth. These robots cannot tackle repetitive, sturdy and dangerous manufacturing tasks. The payload capacities of the cobots will never be high due to security features. These restraints can affect the demand from key end-users of the market. This restraint can constrict the expansion of the cobots market in the forecast period.
The low speed of collaborative robots is a significant market challenge. Cobots are designed to cooperate with humans. Due to this, the speed and features of these robots will not match traditional robots. The traditional robots are high speed, heavy-duty and perform dangerous tasks. They are far away from humans in industrial and manufacturing rooms.
However, the cobots work near humans. The arm speed and arm movement are similar to humans. Also, their weighting capabilities are only 15 KGs. This feature enables them to safely carry out tasks alongside humans. The industry has a high demand for robots with high speed and strong features. These factors are major challenges that can affect the revenue rates of the cobots market.
Collaborative Robots Market Trends is constantly surging in the forecast period. The profitable segment of this market is the robotic arm. The arm is a common part of the cobots. They are curved to make it safe around humans. Also, the arms can move in a linear and circular motion.
These features of cobot’s arms create more demand for the market. Also, the rare drivers such as high return for the industries with cobot’s investments. The productivity and efficiency of using cobots bring high returns for industries. However, low speed and less payload capacity is a limitation of the collaborative robots market. However, the growth opportunities in the healthcare sector will lead to high practicality.
The volume and value of the collaborative robots market are high in Asia pacific. It is a region to hold the highest global collaborative robots market share. The rising labour cost in industries is a major concern. With cobots, the cost-efficiency and productivity increase.
The automotive and electronic industry has a high demand for cobots. There are major collaborative robots companies in Taiwan, India, Japan and Chin. Also, the need for automation in many industries will lead to high market growth opportunities. The Asia Pacific will record the highest demand rate in the forecast period.
In the automotive sector, collaborative robots assist in high payload lifting during vehicle production and machinery customization. The market potential has increased as smart factories become more prevalent. Factors including growing consumer goods demand, elevated public awareness of industrial mishaps, and employee safety foster industrial robotics market growth. To include artificial intelligence and create cutting-edge sensors, manufacturers focus their resources on research and development, accelerating market growth.
The key players of the collaborative robotics market are Asia Pacific, Europe and North America. The Asia Pacific will lead the other regional cobot’s market players. Also, the low production cost, labour cost, efficiency and productivity of cobots attract more demand. Also, the governmental initiatives for automation are high.
The direct investment from the government will lead to plenty of developments in the cobots market. North America is the next largest region with high scope. Also, the top key players will bring high innovation to the cobots market. Europe will witness a high expansion rate in the forecast period.
The competition in the collaborative robots market is moderate. However, the innovation and cost advantages will lead the market to a competitive edge.
Also, the accusations, collaborations and expansion will be key strategies of the competitive landscape.
Techman Robot introduced a new line of collaborative robots in May 2023. That is why the TM AI Cobot S Series comes in a TM25S model with a payload capacity of 25 kg – perfectly fit for a wide range of industrial applications.
Doosan Robotics, in April 2023, introduced its NSF-compliant E-Series, the company’s own brand robot specifically designed for food and beverage production purposes. The new series has been developed with less weight, and slimming form factors, making it easier to install and seamlessly fitting into workspaces.
Rapid Robotics announced in February 2023 that they have partnered with Universal Robots (UR) on UR providing Rapid Robotics cobot work cells across North America. In this way, the company can take away more barriers to automation by employing its robotic workforce to fill positions that producers cannot fill anymore.
In November 2022, TechmanRobot launched its TM AI Cobot line of collaborative robots that incorporate a powerful, accurate robot arm with a native AI inference engine and intelligent machine vision system. This is an intelligent robolink series featuring full AI software suites, including TM AI+ Training Server, TM Image Manager, TM AI+ AOI Edge and TM 3DVisionTM, enabling companies to train and customize their systems precisely according to application requirements.
Epson America Inc., furthermore, unveiled the VT6L-Series expansion by introducing the VT6L-DC All-in-One 6-Axis Robot in November 2022. It is suitable for mobile solutions and offers next-generation technology that enhances operational efficiency.
Universal Robots announced their latest innovation, called the UR20 cobot, which can carry payloads weighing up to 20 kg in June 2022. The robot delivers up to 30% more torque along with a payload of as much as twenty kilograms and has a reach measuring one thousand seven hundred fifty millimeters. With a faster tiny wrists uptime design, UR20 aims at being safer while also enhancing flexibility. US is expected to be availed in the market by Q2 2023.
| Report Attribute/Metric | Details |
| Market Size 2032 | USD 16.73 Billion |
| CAGR | 22.60% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2020 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Payload, Type, Components, Application, Vertical |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | 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) |
| Key Market Opportunities | Advancements in machine learning, edge computing, and robotics industry. |
| Key Market Drivers | Collaborative robots are capable of various light and heavy lifting tasks which drives their adoption among large, small and medium sized enterprises.Increasing labor costs worldwide in agriculture, manufacturing, and construction industries. |
Collaborative Robots Market Highlights:
Frequently Asked Questions (FAQ) :
The collaborative Robots Market is set to grow at a CAGR of 22.60%, estimated to reach USD 16.73 Billion by 2032
Players recorded in the collaborative robots market report are FANUC Corporation, ABB, KUKA AG, Rethink Robotics, MRK-Systeme GmbH, Robert Bosch GmbH, Universal Robots A/S, F&P Robotics AG, MABI AG, Precise Automation, Inc., Energid Technologies Corporation, YASKAWA Electric Corporation, Techman Robot, Universal Robots, and KAWADA Robotics Corporation.
Europe has the scope to lead the collaborative robots market.
North America has the second-largest collaborative robots market.
A collaborative robot or a cobot is a robot designed to collaborate with humans and also capable of various light and heavy lifting tasks which drives their adoption among large-, small-, and medium-sized enterprises
Robotic automation has revolutionized the manufacturing sector and is aiming to expand its reach to various other industries. Cobots are gradually becoming a trend in the robotics sector due to development in motion control technology.
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
Team Lead - Research she holds an experience of about 6+ years in market research and business consulting, working under the spectrum of information communication technology, telecommunications and semiconductor domains. aarti conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. her expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc.
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