Collaborative Robot (Cobot) Market Report
RA00182
Collaborative Robot (Cobot) Market, by Payload Capacity (Up to 5Kg, Up to 10Kg, Above 10Kg), Component (Hardware, Software), Application (Handling, Assembling & Disassembling, Welding & Soldering, Dispensing, Processing, Others), End Use Industry (Automotive, Electronics, Metals & Machining, Plastics & Polymers, Furniture & Equipment, Healthcare, Others), Regional Analysis (North America, Europe, Asia-Pacific, LAMEA): Global Opportunity Analysis and Industry Forecast, 2019–2026
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Global Collaborative Robot Industry Insights, 2026:
According to a new study by Research Dive, the global collaborative robot (cobot) market forecast will surpass $8,840.5 million by 2026, at a CAGR of 41.2%, and is increasing from $559.5 million in 2018.North America region registered for significant global market size in previous years and is projected to continue its command over global market during the forecast period. Asia-Pacific region market is expected to grow at a notable rate in the estimated time. This substantial growth is due to rising number of end use industry verticals in the Asia-Pacific due to rapid industrialization.
Collaborative robots are also called as cobots or intelligent assist devices and are specially designed for direct interaction with a human within the specified collaboration workplace. The major concept is grouping of robots with humans to significantly improve performance, productivity and safety of the product, as long as the work is optimally shared. Human and robot collaboration provides various levels of human and automation intervention where the tasks are partially automated if a fully automation process is complex. The safety features of cobots are velocity monitoring, workspaces & safeguard zones, collision detection, tool detection and other benefits.
Driving Factors: Rising penetration of robots and enterprises concentrating on productivity are significantly driving the growth of the collaborative robot market
Increasing trend for automation of existing manufacturing process to increase the productivity along with growing penetration of robots in all manufacturing industries are the significant drivers for the collaborative robot market growth. In addition, the main purpose of the cobots is process optimization and process intensification. Therefore, accomplishing the maximum yield with minimal expenses along with minimal errors is a favorable enhancing factor for the growth of the market in the coming years .Further more, huge returns on initial investment by using cobots and cost of the collaborative robots is cheap compared with conventional robots and complete the tasks with more procession and accuracy, which is anticipated to fueling the market size in the upcoming years. Moreover, growing demand for collaborative robots from small & medium scale enterprises due its low cost and easy of handing is also further expected to drive the market growth.
Market Restraint: Cyber security for cobots and technical challenges are the significant restraints for the growth of the collaboration robot market
Increasing cyber security threats in the connected cobots due to incorporation of internet of things (IoT) and lack of awareness about organizational networks are major restraining factors for the growth of the market. Also, technological challenges for the designing and building of cobots including type of cobot for specific work, right interaction between the robot & human and other difficulties are projected to hamper the market growth.
Opportunity Analysis: Growing demand for high payload capacity is a significant investment opportunity for the growth of collaborative robot market
Increasing demand for high payload capacity cobots for heavier operations in the manufacturing industries is projected to create ample investment opportunities for the market growth. In addition, growing trend for cobots paired with autonomous mobile robots (AMR) and automatic guided vehicle (AGV) to produce more flexible, easier for installation, less expensive, more collaborative and other benefits is projected to propel the market growth in the coming years.
Cobots up to 5 kg payload capacity accounted for the largest global market size in 2018; it was over $251.8 million and is anticipated to continue its trend with a significant CAGR of 41.4% during the forecast time. High preference of new consumers due to low cost, minimum required space and lesser number of sensors for the operation and control of up to 5kg payload are factors is estimated to drive the market size in the forecast period. Collaborative robot above 10kg payload capacity is anticipated to witness a significant growth and is expected to garner up to $2,404.6 million by the end of 2026. 10kg payload cobots can handle higher tasks with more accuracy, reliability and precision along with being useful in the heavier weight manufacturing process; this factor is projected to impel the market size in the forecast time period.
Hardware component segment held the largest cobot market share, which was 58.0% in 2018 and anticipated to produce a major revenue of $4,597.1 million in 2026. This growth is majorly owing to standardization of several hardware components including sensors, power supply units, position controllers and other components. Also, owing to standardization, the costs of hardware have decreased and major manufacturers are increasing efforts to increase the accuracy and payload capacity, which is projected to drive the market size in the forecast time. Software component will experience a remarkable growth in the cobot market and is projected to rise at a faster rate of 43.6% CAGR during the estimated period. This expected rise in the market is mainly because of manufacturers efforts on R & D activities on development and implementation of programming software & application specific software for automation of manufacturing processes. For instance, Universal Robots A/S designed URCaps software-based environments for all collaborative robots.
Assembling & disassembling application registered for highest cobot market size and is anticipated to generate a revenue of $18565 million till 2026. The significant use of cobots for assembling & disassembling and continuous rise in the adoption of collaborative robots for assembling applications is a boost to the growth of the market. Also, assembling & disassembling cobots are more accurate and occupy less space and this aspect is projected to impel the growth of the market in the estimated time. Handling application will witness to rise at a significant rate of 42.1% CGAR and is anticipated to reach a revenue of $1396.8 million till the end of 2026. Growing demand for cobots in the handling applications such as pick & place, partitioning of products and other handling application to minimize the errors and damage of products while handling is estimated to enhance the market size.
Automotive end use industry accounted for largest market share in the previous years and is projected to continue its growth in the forecast time. The extensive utilization of collaborative robots in the automotive industry to minimize production costs and increase the productivity is estimated to drive the market size in automotive industry. Moreover, growing trend towards automation of manufacturing processes due to swift growth in the modernization & industrialization is further anticipated to drive the growth of the market. Electronics end use industry will experience a significant growth and is projected to create a revenue of $1,308.4 million in 2026. This expected growth is majorly owing to growing requirement for low payload capacity cobots in the electronics for assembling of consumer electronics applications. Also, collaborative robots are being used in the careful handling of delicate electronics such as PCB and circuit boards is also anticipated to drive the market size.
Asia-Pacific Collaborative Robot Market Overview, 2026:
Asia-Pacific region will have massive growth opportunities for the market participants in the coming years
Asia-Pacific region will experience prominent growth and is estimated to generate substantial growth opportunities in terms of revenue and is anticipated to reach $1,980.3 million by the end of 2026. Rapid growth in modernization & industrialization across the Asia-Pacific region and most of the production industries shifting towards automation of their process methods to reduce the workforce is expected to drive the market growth in the forecast time. In addition, there is increasing deployment of collaboration robots in the automotive, electronics and other sectors to increase the productivity. Also, China, Japan, India and Taiwan are the major revenue contributors in regional collaborative market. These factors are further estimated to drive the market growth in the coming years.
North America Collaborative Robot Market Outlook, 2026:
North America region held the majority of the global COBOT market share, which was 34.9% in 2018 and is anticipated to retain its command over the global market in the forecast timeframe. This growth in North America region is because of early adoption of cobots in the manufacturing industry due to extensive use of these robots in the automobile, electronics and machine manufacturing industries. In addition, growing positive government initiatives due to industrial revolution along with huge funds for R & D for cobots manufacturing is further enhancing the market size in North America region.
The global Collaborative Robot (Cobot) Market players are YASKAWA ELECTRIC CORPORATION, EPSON Robots, ABB Group, Rethink Robotics, Inc., Universal Robots A/S, Comau S.p.A., Franka Emika GmbH,Precise Automation, Inc., Fanuc Corporation, DENSO Robotics, F&P Robotics AG, KUKA AG, MRK-Systeme GmbH, Robert Bosch GmbH, MABI AG and AUBO Robotics Inc. These players are implementing both organic and inorganic growth strategies such as new product launches, mergers & acquisitions, collaborations and R&D investments to gain highest market share in the global collaborative robot (Cobot) market.
Porter’s Five Forces Analysis for Collaborative Robot (Cobot) Market:
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Bargaining Power of Suppliers: This market consists of huge number of small & medium and large dealers, and key players are producing high communicative cobots and resulting transferring cost of cobot from one supplier to others is projected to be high.
The bargaining power of suppliers is HIGH. -
Negotiating Power of Purchaser: Cobot market has huge number of purchasers, huge demand because of unavailability of replacements, and challenging task for designing of collaborative robot for particular are resulting high negotiating power of purchasers. The negotiating power of the purchaser is HIGH.
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Risk of New Participants: Growing demand for collaboration robots from end use industries due to industrialization and existence of dominant players are delivering high risk for new participants in the market.
The risk of new participants is HIGH. -
Threat of Replacements: This market has minimum number of replacements, and there by there is low threat of replacements.
The threat of replacements is LOW. -
Intensity of Rivalry in the Market: Collaborative robot markethas large number of significant players. These significant players are underlining on product advancements along with new technology introduction to increase their market growth. This factor is providing high rivalry between the players.
The intensity of rivalry in the market is HIGH.
| Aspect | Particulars |
| Historical Market Estimations | 2018-2019 |
| Base Year for Market Estimation | 2018 |
| Forecast timeline for Market Projection | 2019-2026 |
| Geographical Scope | North America, Europe, Asia-Pacific, LAMEA |
| Segmentation by Payload Capacity |
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| Segmentation by Component
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| Segmentation by Application
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| Segmentation by End Use Industry
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| Key Countries covered | U.S., Canada, Germany, UK, Italy, Spain, Russia, Japan, China, India, South Korea, Australia, Brazil,Argentina, GCC and Saudi Arabia |
| Key Companies Profiled |
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Q1. What is the size of collaborative robot (cobot) market?
A. The global collaborative robot (cobot) market size was over $595.5 million in 2018 and is further anticipated to reach $8,840.5 million by 2026.
Q2. Who are the leading companies in the collaborative robot (cobot) market?
A. YASKAWA ELECTRIC CORPORATION, Universal Robots A/S, Franka Emika GmbH, Precise Automation, Inc., DENSO Robotics, Robert Bosch GmbH and AUBO Robotics Inc. are some of the key players in the global Collaborative Robot (Cobot) Market.
Q3. Which region possesses greater investment opportunities in the coming future?
A. Asia-Pacific region possesses great investment opportunities for the investors to witness the most promising growth in the coming years.
Q4. What is the North America region market size in 2018?
A. North America collaborative robot (cobot) market accounted for $195.3 million in 2018.
Q5. What are the strategies opted by the leading players in this market?
A. Product development and joint ventures are the key strategies opted by the operating companies in this market.
Q6. Which companies are investing more on R&D practices?
A. Universal Robots A/S, Precise Automation, Inc., DENSO Robotics and Robert Bosch GmbHare investing more on R&D activities for developing new products and technologies
1.Research Methodology
1.1.Desk Research
1.2.Real time insights and validation
1.3.Forecast model
1.4.Assumptions and forecast parameters
1.4.1.Assumptions
1.4.2.Forecast parameters
1.5.Data sources
1.5.1.Primary
1.5.2.Secondary
2.Executive Summary
2.1.360° summary
2.2.Payload capacity trends
2.3.Component trends
2.4.Application trends
2.5.End use industry trends
3.Market overview
3.1.Market segmentation & definitions
3.2.Key takeaways
3.2.1.Top investment pockets
3.2.2.Top winning strategies
3.3.Porter’s five forces analysis
3.3.1.Bargaining power of consumers
3.3.2.Bargaining power of suppliers
3.3.3.Threat of new entrants
3.3.4.Threat of substitutes
3.3.5.Competitive rivalry in the market
3.4.Market dynamics
3.4.1.Drivers
3.4.2.Restraints
3.4.3.Opportunities
3.5.Technology landscape
3.6.Regulatory landscape
3.7.Patent landscape
3.8.Market value chain analysis
3.9.Strategic overview
4.Collaborative Robot (Cobot) Market, by Payload capacity
4.1.Up to 5kg
4.1.1.Market size and forecast, by region, 2018-2026
4.1.2.Comparative market share analysis, 2018 & 2026
4.2.Up to 10kg
4.2.1.Market size and forecast, by region, 2018-2026
4.2.2.Comparative market share analysis, 2018 & 2026
4.3.Above 10kg
4.3.1.Market size and forecast, by region, 2018-2026
4.3.2.Comparative market share analysis, 2018 & 2026
5.Collaborative Robot (Cobot) Market, by Component
5.1.Software
5.1.1.Market size and forecast, by region, 2018-2026
5.1.2.Comparative market share analysis, 2018 & 2026
5.2.Hardware
5.2.1.Market size and forecast, by region, 2018-2026
5.2.2.Comparative market share analysis, 2018 & 2026
6.Collaborative Robot (Cobot) Market, by Application
6.1.Handling
6.1.1.Market size and forecast, by region, 2018-2026
6.1.2.Comparative market share analysis, 2018 & 2026
6.2.Assembling & Disassembling
6.2.1.Market size and forecast, by region, 2018-2026
6.2.2.Comparative market share analysis, 2018 & 2026
6.3.Welding & Soldering
6.3.1.Market size and forecast, by region, 2018-2026
6.3.2.Comparative market share analysis, 2018 & 2026
6.4.Dispensing
6.4.1.Market size and forecast, by region, 2018-2026
6.4.2.Comparative market share analysis, 2018 & 2026
6.5.Processing
6.5.1.Market size and forecast, by region, 2018-2026
6.5.2.Comparative market share analysis, 2018 & 2026
6.6.Others
6.6.1.Market size and forecast, by region, 2018-2026
6.6.2.Comparative market share analysis, 2018 & 2026
7.Collaborative Robot (Cobot) Market, by End Use Industry
7.1.Metals & Machining
7.1.1.Market size and forecast, by region, 2018-2026
7.1.2.Comparative market share analysis, 2018 & 2026
7.2.Electronics
7.2.1.Market size and forecast, by region, 2018-2026
7.2.2.Comparative market share analysis, 2018 & 2026
7.3.Healthcare
7.3.1.Market size and forecast, by region, 2018-2026
7.3.2.Comparative market share analysis, 2018 & 2026
7.4.Automotive
7.4.1.Market size and forecast, by region, 2018-2026
7.4.2.Comparative market share analysis, 2018 & 2026
7.5.Plastics & Polymers
7.5.1.Market size and forecast, by region, 2018-2026
7.5.2.Comparative market share analysis, 2018 & 2026
7.6.Furnoture& Equipment
7.6.1.Market size and forecast, by region, 2018-2026
7.6.2.Comparative market share analysis, 2018 & 2026
7.7.Others
7.7.1.Market size and forecast, by region, 2018-2026
7.7.2.Comparative market share analysis, 2018 & 2026
8.Collaborative Robot (Cobot) Market, by Region
8.1.North America
8.1.1.Market size and forecast, by Payload capacity, 2018-2026
8.1.2.Market size and forecast, by component, 2018-2026
8.1.3.Market size and forecast, by application, 2018-2026
8.1.4.Market size and forecast, by end use industry, 2018-2026
8.1.5.Market size and forecast, by country, 2018-2026
8.1.6.Comparative market share analysis, 2018 & 2026
8.1.7.U.S.
8.1.7.1.Market size and forecast, by Payload capacity, 2018-2026
8.1.7.2.Market size and forecast, by component, 2018-2026
8.1.7.3.Market size and forecast, by application, 2018-2026
8.1.7.4.Market size and forecast, by end use industry, 2018-2026
8.1.7.5.Comparative market share analysis, 2018 & 2026
8.1.8.Canada
8.1.8.1.Market size and forecast, by Payload capacity, 2018-2026
8.1.8.2.Market size and forecast, by component, 2018-2026
8.1.8.3.Market size and forecast, by application, 2018-2026
8.1.8.4.Market size and forecast, by end use industry, 2018-2026
8.1.8.5.Comparative market share analysis, 2018 & 2026
8.1.9.Mexico
8.1.9.1.Market size and forecast, by Payload capacity, 2018-2026
8.1.9.2.Market size and forecast, by component, 2018-2026
8.1.9.3.Market size and forecast, by application, 2018-2026
8.1.9.4.Market size and forecast, by end use industry, 2018-2026
8.1.9.5.Comparative market share analysis, 2018 & 2026
8.2.Europe
8.2.1.Market size and forecast, by Payload capacity, 2018-2026
8.2.2.Market size and forecast, by component, 2018-2026
8.2.3.Market size and forecast, by application, 2018-2026
8.2.4.Market size and forecast, by end use industry, 2018-2026
8.2.5.Market size and forecast, by country, 2018-2026
8.2.6.Comparative market share analysis, 2018 & 2026
8.2.7.Germany
8.2.7.1.Market size and forecast, by Payload capacity, 2018-2026
8.2.7.2.Market size and forecast, by component, 2018-2026
8.2.7.3.Market size and forecast, by application, 2018-2026
8.2.7.4.Market size and forecast, by end use industry, 2018-2026
8.2.7.5.Comparative market share analysis, 2018 & 2026
8.2.8.UK
8.2.8.1.Market size and forecast, by Payload capacity, 2018-2026
8.2.8.2.Market size and forecast, by component, 2018-2026
8.2.8.3.Market size and forecast, by application, 2018-2026
8.2.8.4.Market size and forecast, by end use industry, 2018-2026
8.2.8.5.Comparative market share analysis, 2018 & 2026
8.2.9.France
8.2.9.1.Market size and forecast, by Payload capacity, 2018-2026
8.2.9.2.Market size and forecast, by component, 2018-2026
8.2.9.3.Market size and forecast, by application, 2018-2026
8.2.9.4.Market size and forecast, by end use industry, 2018-2026
8.2.9.5.Comparative market share analysis, 2018 & 2026
8.2.10.Spain
8.2.10.1.Market size and forecast, by Payload capacity, 2018-2026
8.2.10.2.Market size and forecast, by component, 2018-2026
8.2.10.3.Market size and forecast, by application, 2018-2026
8.2.10.4.Market size and forecast, by end use industry, 2018-2026
8.2.10.5.Comparative market share analysis, 2018 & 2026
8.2.11.Italy
8.2.11.1.Market size and forecast, by Payload capacity, 2018-2026
8.2.11.2.Market size and forecast, by component, 2018-2026
8.2.11.3.Market size and forecast, by application, 2018-2026
8.2.11.4.Market size and forecast, by end use industry, 2018-2026
8.2.11.5.Comparative market share analysis, 2018 & 2026
8.2.12.Rest of Europe
8.2.12.1.Market size and forecast, by Payload capacity, 2018-2026
8.2.12.2.Market size and forecast, by component, 2018-2026
8.2.12.3.Market size and forecast, by application, 2018-2026
8.2.12.4.Market size and forecast, by end use industry, 2018-2026
8.2.12.5.Comparative market share analysis, 2018 & 2026
8.3.Asia Pacific
8.3.1.Market size and forecast, by Payload capacity, 2018-2026
8.3.2.Market size and forecast, by component, 2018-2026
8.3.3.Market size and forecast, by application, 2018-2026
8.3.4.Market size and forecast, by end use industry, 2018-2026
8.3.5.Market size and forecast, by country, 2018-2026
8.3.6.Comparative market share analysis, 2018 & 2026
8.3.7.China
8.3.7.1.Market size and forecast, by Payload capacity, 2018-2026
8.3.7.2.Market size and forecast, by component, 2018-2026
8.3.7.3.Market size and forecast, by application, 2018-2026
8.3.7.4.Market size and forecast, by end use industry, 2018-2026
8.3.7.5.Comparative market share analysis, 2018 & 2026
8.3.8.India
8.3.8.1.Market size and forecast, by Payload capacity, 2018-2026
8.3.8.2.Market size and forecast, by component, 2018-2026
8.3.8.3.Market size and forecast, by application, 2018-2026
8.3.8.4.Market size and forecast, by end use industry, 2018-2026
8.3.8.5.Comparative market share analysis, 2018 & 2026
8.3.9.Japan
8.3.9.1.Market size and forecast, by Payload capacity, 2018-2026
8.3.9.2.Market size and forecast, by component, 2018-2026
8.3.9.3.Market size and forecast, by application, 2018-2026
8.3.9.4.Market size and forecast, by end use industry, 2018-2026
8.3.9.5.Comparative market share analysis, 2018 & 2026
8.3.10.Australia
8.3.10.1.Market size and forecast, by Payload capacity, 2018-2026
8.3.10.2.Market size and forecast, by component, 2018-2026
8.3.10.3.Market size and forecast, by application, 2018-2026
8.3.10.4.Market size and forecast, by end use industry, 2018-2026
8.3.10.5.Comparative market share analysis, 2018 & 2026
8.3.11.Rest of Asia Pacific
8.3.11.1.Market size and forecast, by Payload capacity, 2018-2026
8.3.11.2.Market size and forecast, by component, 2018-2026
8.3.11.3.Market size and forecast, by application, 2018-2026
8.3.11.4.Market size and forecast, by end use industry, 2018-2026
8.3.11.5.Comparative market share analysis, 2018 & 2026
8.4.LAMEA
8.4.1.Market size and forecast, by Payload capacity, 2018-2026
8.4.2.Market size and forecast, by component, 2018-2026
8.4.3.Market size and forecast, by application, 2018-2026
8.4.4.Market size and forecast, by end use industry, 2018-2026
8.4.5.Market size and forecast, by country, 2018-2026
8.4.6.Comparative market share analysis, 2018 & 2026
8.4.7.Latin America
8.4.7.1.Market size and forecast, by Payload capacity, 2018-2026
8.4.7.2.Market size and forecast, by component, 2018-2026
8.4.7.3.Market size and forecast, by application, 2018-2026
8.4.7.4.Market size and forecast, by end use industry, 2018-2026
8.4.7.5.Comparative market share analysis, 2018 & 2026
8.4.8.Middle East
8.4.8.1.Market size and forecast, by Payload capacity, 2018-2026
8.4.8.2.Market size and forecast, by component, 2018-2026
8.4.8.3.Market size and forecast, by application, 2018-2026
8.4.8.4.Market size and forecast, by end use industry, 2018-2026
8.4.8.5.Comparative market share analysis, 2018 & 2026
8.4.9.Africa
8.4.9.1.Market size and forecast, by Payload capacity, 2018-2026
8.4.9.2.Market size and forecast, by component, 2018-2026
8.4.9.3.Market size and forecast, by application, 2018-2026
8.4.9.4.Market size and forecast, by end use industry, 2018-2026
8.4.9.5.Comparative market share analysis, 2018 & 2026
9.Company profiles
9.1.YASKAWA ELECTRIC CORPORATION
9.1.1.Business overview
9.1.2.Financial performance
9.1.3.Product portfolio
9.1.4.Recent strategic moves & developments
9.1.5.SWOT analysis
9.2.EPSON Robots
9.2.1.Business overview
9.2.2.Financial performance
9.2.3.Product portfolio
9.2.4.Recent strategic moves & developments
9.2.5.SWOT analysis
9.3.ABB Group
9.3.1.Business overview
9.3.2.Financial performance
9.3.3.Product portfolio
9.3.4.Recent strategic moves & developments
9.3.5.SWOT analysis
9.4.Rethink Robotics, Inc.
9.4.1.Business overview
9.4.2.Financial performance
9.4.3.Product portfolio
9.4.4.Recent strategic moves & developments
9.4.5.SWOT analysis
9.5.Universal Robots A/S
9.5.1.Business overview
9.5.2.Financial performance
9.5.3.Product portfolio
9.5.4.Recent strategic moves & developments
9.5.5.SWOT analysis
9.6.ComauS.p.A.
9.6.1.Business overview
9.6.2.Financial performance
9.6.3.Product portfolio
9.6.4.Recent strategic moves & developments
9.6.5.SWOT analysis
9.7.FrankaEmika GmbH
9.7.1.Business overview
9.7.2.Financial performance
9.7.3.Product portfolio
9.7.4.Recent strategic moves & developments
9.7.5.SWOT analysis
9.8.Fanuc Corporation
9.8.1.Business overview
9.8.2.Financial performance
9.8.3.Product portfolio
9.8.4.Recent strategic moves & developments
9.8.5.SWOT analysis
9.9.Precise Automation, Inc.
9.9.1.Business overview
9.9.2.Financial performance
9.9.3.Product portfolio
9.9.4.Recent strategic moves & developments
9.9.5.SWOT analysis
9.10.DENSO Robotics
9.10.1.Business overview
9.10.2.Financial performance
9.10.3.Product portfolio
9.10.4.Recent strategic moves & developments
9.10.5.SWOT analysis
9.11.F&P Robotics AG
9.11.1.Business overview
9.11.2.Financial performance
9.11.3.Product portfolio
9.11.4.Recent strategic moves & developments
9.11.5.SWOT analysis
9.12.KUKA AG
9.12.1.Business overview
9.12.2.Financial performance
9.12.3.Product portfolio
9.12.4.Recent strategic moves & developments
9.12.5.SWOT analysis
9.13.MRK-Systeme GmbH
9.13.1.Business overview
9.13.2.Financial performance
9.13.3.Product portfolio
9.13.4.Recent strategic moves & developments
9.13.5.SWOT analysis
9.14.Robert Bosch GmbH
9.14.1.Business overview
9.14.2.Financial performance
9.14.3.Product portfolio
9.14.4.Recent strategic moves & developments
9.14.5.SWOT analysis
9.15.MABI AG
9.15.1.Business overview
9.15.2.Financial performance
9.15.3.Product portfolio
9.15.4.Recent strategic moves & developments
9.15.5.SWOT analysis
9.16.AUBO Robotics Inc.
9.16.1.Business overview
9.16.2.Financial performance
9.16.3.Product portfolio
9.16.4.Recent strategic moves & developments
9.16.5.SWOT analysis
This is a golden era of automation, where robotics is turning out as avital technology which drives huge efficiencies and in certain cases,even turns the impossible into possible. Collaborative robots or cobots is one such invention of robotics which have been around since the 1990s. However, in last few years,developments in automation and sensors technologyas well as artificial intelligence, have elevated their
significanceto a greater extent.
Growing Adoption of Collaborative robots
Collaborative robots are the latest version of robots programmed to collaborate with people in a shared work space. However, the dispute around collaborative robots is not likely to end any time soon. Some might consider them as aprogress of labor forceby guiding them in unprecedented stages of through put or some might think of them as amachinery that overcomes the global labor force by removing many experienced labors from their jobs.
At present, collaborative robots account for merely 5% of the global industrial robot sales.However, this number is likely to escalatedue the growing demand in the near future. A research report by Research Dive forecasts that the collaborative robot market will be worth $8,840.5 million by 2026, driven largely by implementation in the metal & machining, automotive, furniture & equipment, plastic & polymers food, and & beverage industries. According to this research the growing safety provided by collaborative robot is a key driver to their adoption.
The Shift to Collaborative Robots
Collaborative robotsare undeniably a robust trend in the robotics sector at present. With growing technological developments, robotics have become affordable to a widergroup ofindustries.On the other hand, the digitalization of warehouses indicates tremendous growth in market opportunity for new players to earn revenues.These robots are making a considerable impact on large as well as small businesses. Several industry players are considering these automated machines as a game-changer for several manufacturing companies. Due to this, many market players in the robotics industry have started leaping into the collaborative robots space.
In 2015, ABB, a leader in power and automation technologies developed YuMi, the world's first completely collaborative robot. This robot changed the definition of a typical robot and signaled the beginning of a new era where humans and robots safely worked side-by-side, in a free and shared environment.
Robotic companies like Universal Robots, ABB, FANUC, KUKA, and Motoman, are enduring to developout-standing, interactive robots within the collaborative sector in the coming years. Currently, Jharkhand government in India is using collaborative robots in COVID-19 is olation units to minimize human interference with patients. These robots are helping intransferring both medicines as well food from one bed to another, without any interference of health workers.
All together, the cobots arecapable of improving application functionality andreducing the amount of space required for a robotic unit. This innovative technology is offering huge benefits as well as returns to production lines, industries, and workers.
Future Scope of Collaborative Robots
Collaborative robots areforeseen to unlock various markets that were conventionally neglected by robotics including food, logistics, and safety. Businesses that providerobotic solutions to these segment sare foreseen to experience valuable opportunities in the coming future. For instance, 6 River Systems, has acollaborative robot, named Chucks, which uses cloud software to synchronize warehouse activities and function in co-ordination with human workers. This example of the use of cobots is definitely changing the viewpoint of many industrial players about these advanced-automated robots.
The rapid innovations in this challenging sector promises to introduce bothproductivity and advancement to innumerablemarket verticals in the next few years.In addition, the rising demand for collaborative robots from small & medium scale businesses due their affordable price as well as easy maintenance are expected to boost the growth of collaborative robots market at an exceptional rate in the upcoming years.
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