Cobots, or collaborative robots, are designed to aid human beings for specific tasks, which are highly complex in nature and require high precision. These robots work in a close association with humans. The robots can observe any unusual activity in their surroundings and can cooperate with humans without physical separation. Smaller, smarter, flexibility, and user-friendly are some attributes that make cobots more attractive to be used in factories and industries. Due to several benefits like increased productivity and better employee utilization, collaborative robots are increasingly being used in different applications. Collaborative robots (cobots) reduce the total production costs and allow the fast return of investment.
Cobots market to surpass USD XX Billion by 2030, which is valued at XX billion in 2019 at a compound annual growth rate of XX%. The co-operating robot or cobot is designed physically to communicate with people in a common workspace. The growth driving force for growth is the growing acceptance in small and medium businesses (SMEs) and investment in manufacturing automation is expected to fuel the market growth. The introduction of robotics in areas such as the manufacturing of smart parts and the production of goods in the electronics industry further boosts the demand.
Recent Highlights in Global Cobots market
- In 2018, KUKA AG through the KUKA Robotics Korea Co subsidiary. Ltd. had a strategic collaboration with Hyundai Robotics – a Hyundai Heavy Industries Holdings Robotics Group. The relationship has helped Korean countries extend their product range.
- In January 2019, the new TM Collaborative Robot with repetitive task automation functionality was launched by Omron Automation Americas and it featured a manual teaching function that provides the managers with manually training the robot instead of manual software.
- In July 2019,The Authorized Training Centers (ATCs) software was launched by Universal Robot for cobot training courses.
Global Cobots Market: Segments
Global market has been segmented on the basis of payload, application type. It has been further segmented on the basis of region into North America, Europe, Asia-Pacific, Mid East, and Africa.
By payload (in %), Global Cobots Market, 2019
The up to 5kg segment is anticipated to register XX% of the volume share and is expected to grow at the highest CAGR.
Global Cobots Market is segmented by payload into up to 5 Kg, up to 10 Kg, and above 10 kg.
The versatility, lightweight, and capability of the system to optimize collaborative processes of low weight, including positioning, selection, and testing is driving the market growth of this segment.
Because of their ability to handle larger tasks that require precision, reliability, and coordination with heavier weight processes, Cobots with a capacity of over 10 kg are expected to see substantial growth.
By Application (in %), Global Cobots Market, 2019
Assembly application accounted for XX% of Global volume in 2019 and is anticipated to grow at the highest CAGR because of the ability to blend repetitive and basic tasks along with more complicated assembly procedures.
Global Cobots market is segmented by Application: assembly, pick and place, handling, packaging, quality testing, machine tending, gluing and welding, and others
Workers are also at risk of contamination while employed in industries like food & drink, healthcare and are not only susceptible to errors or injury. Machine tending requires workers to stand alongside a CNC or injection molding machine for long hours. Collaborative robots can automate a computer tending process without supervision over the course of hours and increase productivity.
Global Cobots Market: Drivers and Restraints
User-Friendly Application Implementing advanced robotic systems and the attributes of such technologies as user-friendliness and security are some of the drivers of global cobots development.
Application in heavy payload
The growing demand is expected to lead to increasing demand for work requiring higher efficiency. In an uncaged environment, the ability of robots to work efficiently with the staff has led to increased industrial installations. The co-robots are designed to avoid employee injury using advanced sensors, software, and Arm End Tooling (EOATs).
High initial investment and rigorous training program
The main restrictions on the market are the strong initial investment in solutions and the rigorous training program for employees to interact with these robots, which require a considerable time and investment and lead to reduced company adoption.
Global Cobots Market: Regions
Europe was the largest market accounting for XX% of total market volume share in 2019
The huge application of cobots in various vertical components, such as electronics, logistics, and inspections, is attributed to regional growth. In addition, a range of benefits can be extracted from regional growth in cobot technology, such as an increase in cooperation and productive solutions for manufacture optimization offered by workplace automation.
Asia Pacific: China, Japan, India, and Rest of Asia Pacific
Europe: Germany, the UK, France, and Rest of Europe
North America: The US, Mexico, and Canada
Latin America: Brazil and Rest of Latin America
Middle East & Africa: GCC Countries and Rest of Middle East & Africa
Global Cobots market is further segmented by region into:
- North America Market Size, Share, Trends, Opportunities, Y-o-Y
- Growth, CAGR – United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y
- Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth,
- CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium,
- Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia,
- Turkey and Rest of Europe
- APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth,
- CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New
- Zealand, Australia and Rest of APAC
- MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth,
- CAGR – North Africa, Israel, GCC, South Africa
Global Cobots Market: Key Players: –
- ABB Group
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- EPSON Robots
- F&P Robotics AG
- KUKA AG
- Precise Automation
- Robert Bosch GmbH
- Yaskawa Electric Corporation
- Techman Robot by Quanta Storage
- DENSO Robotics
- Inc.; Franka Emika GmbH
- Comau S.p.A
- Energid Technologies Corporation
- Fanuc Corporation
- MRK-Systeme GmbH
- Global Cobots Market report also contains analysis on:
- Cobots Market Segments:
- By Payload:
- up to 5 Kg
- up to 10 Kg
- above 10 kg
- By Application:
- pick and place
- quality testing
- machine tending
- gluing and welding
- By Payload:
- Global Cobots Market Dynamics
- Global Cobots Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved in the Market
- Value Chain of the Market
- Market Drivers and Restraints
FAQs on Global Cobots Market
- Which segment is anticipated to hold the largest market share?
- At what CAGR is the market anticipated to grow between 2020 and 2030?
- Who are the key players in the global Cobots market?
- What could be the challenging factors for the growth of the Cobots market?
- What are the growth drivers for the Cobots market?
Related Report: –
Ankur Gupta, Head Marketing & Communications