Global Collaborative Robots Market is expected to reach $1.3 Billion by 2024 from $0.1 Billion in 2016, growing at a CAGR of 33.2% from 2016 to 2024. Collaborative robots are designed with the combination of precision & speed of machine and flexibility of humans. They are capable of assisting or even work along with humans. They are affordable and can be trained easily. Collaborative robots are widely used in automotive and electronic sectors, where most of the short runs, repetitive and boring jobs are done by these robots. Hospitals and healthcare centers are also deploying collaborative robots to aid in improving the overall quality of patient care, reduce waste and decrease hospital costs. For instance, two well-known hospitals in Belgian have deployed humanoid robots at their reception desk to welcome patients and visitors. Collaborative robots are now used in assisting humans at various places such as offices, labs, homes, warehouse, and farms among others.
The factors such as increased demand for robots in plastic, electric and automotive sector, rising labor costs, lack of skill and professional labors and high adoption for domestic as well as commercial purposes are propelling the growth of the global collaborative robots market. Moreover, non-industrial sector would provide several opportunities in coming years. Though, slow pace in making new additions of latest functionalities and economic slowdown in major countries might hamper the adoption of these robots globally.
The global collaborative robots market is categorized based on the payload, application, industry and geography. By payload, it is segmented into up to 5kg, 6-10kg and above 10kg. Furthermore, applications are segmented into machine tending, packaging, handling, assembly, quality testing, welding and others. Industry can be segmented into automotive, food & beverage, aerospace, plastic & polymers, metal & machining and others.
By geography, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). The U.S., Canada and rest of North America are covered under North America wherein Europe covers U.K., Germany, France, Italy and Rest of Europe. Asia-Pacific covers India, China, Japan and Rest of Asia Pacific. Rest of the World (RoW) covers South America, Middle East and Africa.
The major players in the market include Robert Bosch GmbH, Universal Robots A/S, Kawasaki Heavy Industries, Ltd., Energid Technologies Corporation, Rethink Robotics, ABB Ltd., Precise Automation Inc., F&P Robotics AG., KUKA AG, and FANUC Corporation.
The key takeaways from the report
- The report will provide detailed analysis of Collaborative Robots with respect to major segments such as payload, application, industry type and geography of the market.
- The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024.
- Comprehensive analysis of market dynamics including factors and opportunities.
- An exhaustive regional analysis of Collaborative Robots market.
- Profile of key players of the Collaborative Robots, which include key financials, product & services and new developments.
Scope of Collaborative Robots Market
- up to 5kg
- above 10kg
- Machine Tending
- Quality Testing
- Food & Beverage
- Plastic & Polymers
- Metal & Machining
- North America
- ·Rest of North America
- ·Rest of RoW