Global CollaborativeRobots Market is expected to grow significantly in the forecast period owing to the noteworthy traction from the SMEs worldwide due to several benefits of collaborative robots. Collaborative robots (cobots) perform numerous tasks for assisting humans in different kinds of workspaces. They potentially improve productivity and offer comfort in various manufacturing tasks. Collaborative robots offer several benefits to a business like faster setup, flexible deployment, simplified programming, fastest payback and safer.
Collaborative
robots market is driven by the potential of collaborative robots to operate
with humans in small-spaced electronic assembly lines since they can be easily
handled for short runs, tedious tasks and challenging duties. Rising demand for
robotics due to wide applications, the need for efficient automation, low
investment in cobots resulting in higher ROI and increasing government
initiatives are encouraging the progress of the market.
However,
the technologies used are highly susceptible to physical and cyber security
threats, which could malfunction and lead to injuries and loss of lives. This
is expected to hamper the growth of the market in the years to come. Another
restraining factor of collaborative robots industry is the requirement of
periodic system updates, on failing entails heavy losses.
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Innovations
in the robotics industry is a major trend affecting the collaborative robot
market. Efforts to make the collaborative robots perform completely in the
manufacturing workspaces with no human presence is advancing. Besides, the
existing players are heavily investing in the development of cobots integrated
with machine learning and artificial intelligence. Increasing number of SMEs on
the global scale is producing opportunities for the market of collaborative
robots. With multi-tasking and enormous savings in terms of time and human
efforts, these machines are being adopted extensively, creating more
opportunities.
Collaborative
robots industry is categorized on the basis of payload capacity, industry,
application, and geography. On the basis of payload capacity, the market is
divided into up to 5 kg, from 6 kg to 10 kg, and above 10 kg. Up to 5 kg
segment held largest share in the past years and the trend is expected to
continue in future as well. This can be attributed to the rise in demand for
lightweight and moderate capacity collaborative robots due to features like
easy installation, cost-efficient, high adaptability, which are essential for
catering demands of small and medium enterprises.
Based
on industry, collaborative robots market is divided into automotive,
electronics, plastics & polymer, healthcare, metals & machining, food
& agriculture, furniture & equipment, and others (including education,
scientific research, consumer goods, logistics (3PL), and die cast and foundry
robots). In the automotive industry, collaborative robots are used to conduct
varied tasks like pick & place, packaging and palletizing, quality check,
material handling, machine tending, etc. Owing to these tasks, automotive
segment is expected to hold larger market share of collaborative robots in future.
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In
terms of application, collaborative robots industry is split into assembly,
machine tending, gluing and welding, packaging and palletizing, quality
testing, pick and place, handling, and others (painting and polishing,
injection molding, lab analysis, screw driving, press tending, analysis &
testing, and specimen processing). Pick and place application is predicted to
hold larger share owing to the ease in leading and unloading activities,
reduced human involvement, and faster operations as compared to human laborers.
Geographically,
the market is segmented as North America, Europe, Asia Pacific, and RoW.
Europe, followed by North America and Asia Pacific are predicted to lead market
of collaborative robots owing to the strict government initiatives to promote
factory automation solutions. The prominent players of collaborative robot
industry include ABB, Fanuc, KuKa Ag, Aubo Robotics, Robert Bosch, Kawasaki
Heavy Industries, Ltd., TECHMAN Robots, Rethink Robotics, Precise Automation,
Inc., Universal Robots, and Yasakawa Electric Corporation.
Market
Segment:
Payload
Outlook (Transaction Revenue, USD Billion, 2014 - 2025)
• Up to 5kg
• Up to 10kg
• Above 10kg
Application
Outlook (Transaction Revenue, USD Billion, 2014 - 2025)
• Assembly
• Pick & Place
• Handling
• Packaging
• Quality Testing
• Machine Tending
• Gluing & Welding
• Others
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