Global Collaborative Robot (Cobot) Market to Grow at a CAGR of 60.85%, in Volume, from 2019 to 2024
The introduction of robots in the manufacturing industry has rapidly transformed the process of production, further leading to a growing demand for more automated solutions (both hardware and software) to increase the visibility into the manufacturing process for strengthening the production process and decreasing the production cost.
With recent developments in artificial intelligence and machine learning, robots are becoming increasingly flexible and are available at a fraction of the cost of those used in manufacturing environments. Since industrial robots have plethora of benefits, however, there are certain challenges associated with them which has led to the requirement and foundation of collaborative robots.
The need for safe and flexible robots to work in collaboration with humans resulted in the invention of collaborative robots. As the term suggests, the collaborative robots or co-bots work with humans in a shared workplace as opposed to the industrial robots that work in a controlled environment and perform a set of predefined instructions with negligible human intervention.
According to the latest report, titled 'Global Collaborative Robot (Cobot) Market – Analysis and Forecast (2019-2024)’, the market to grow at a significant CAGR of 60.85% on the basis of volume during the forecast period from 2019 to 2024.
Companies Mentioned in the Report:
- ABB Ltd.
- AUBO Robotics
- Bosch Rexroth AG
- Comau SpA
- Denso Robotics, Inc.
- Fanuc Corporation
- Kuka AG
- Nachi Robotic Systems, Inc.
- Precise Automation, Inc.
- Productive Robotics, Inc.
- Rethink Robotics GmbH
- Seiko Epson Corporation
- Techman Robot Inc.
- Yaskawa Motoman
- Universal Robots A/S
Key Questions Answered in this Report:
- What are the trends in the global collaborative robot market across different regions?
- What are the major driving forces for increasing the demand for the global collaborative robot market during the forecast period 2019-2024?
- What are the major challenges inhibiting the growth of the global collaborative robot market?
- Which application (automotive, electrical, electronics and semiconductor, plastics and polymers, pharma and chemistry, food and beverage, aerospace and defense, metal and machining and other) of the global collaborative robot market dominated in 2018, and what would be the expected scenario by 2024?
- What was the revenue generated by the global collaborative robot market by payload, application, and industry in 2018, and what would be the anticipated estimates by 2024?
- What was the aggregate revenue generated by the global collaborative robot market segmented by region (North America, Europe, Asia-Pacific, and Rest-of-the-World) in 2018, and what would be the anticipated estimates by 2024?
- Who are the key players in the global collaborative robot market, and what are the new strategies adopted by the market players to make a mark in the industry?
- What major opportunities do the collaborative robot companies foresee in the next five years?
- What is the competitive strength of the key leading players in the collaborative robot market?