The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
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?
Global Collaborative Robot (Cobot) Market Forecast, 2019-2024
The collaborative robot industry projects the market to grow at a significant CAGR of 60.85% on the basis of volume during the forecast period from 2019 to 2024. Europe dominated the global collaborative robot market with a share of 47% in 2019. Europe, including the major countries, such as the U.K., Germany, France, Spain, and Italy, is the most prominent region for the collaborative robot market. In Europe, Germany acquired a major market share in 2019 due to the major deployment of cobots in automotive sector in the country.
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The global collaborative robot market has gained widespread importance with the growing need for improved productivity, speed, and efficiency, continuous decrease in size of the available workforce, and overcoming the safety concerns for labor working around robots in shared workplaces. However, lack of comprehensive regulatory and compliance standards for cobots are some of the factors that are restraining the market growth.
"The increasing demand for collaborative robots in every manufacturing industry is compelling the cobot manufacturer to develop the cobot with more payload capacity. As the cobot with high payload capacity can perform easily the tasks that low capacity cobot does.”
Scope of the Global Collaborative Robot Market
The collaborative robot market research provides detailed market information for segmentation such as payload, application, and industry. The purpose of this market analysis is to examine the collaborative robot market outlook in terms of factors driving the market, trends, technological developments, and competitive benchmarking, among others.
The report further takes into consideration the market dynamics and the competitive landscape along with the detailed financial and product contribution of the key players operating in the market.
The collaborative robot market is further segmented into payload, application, and industry. The automotive segment dominated the global collaborative robot market in 2018.
While highlighting the key driving and restraining forces for this market, the report also provides a detailed study of the different industries that are analyzed which includes automotive, electrical, electronics and semiconductor, plastics and polymers, pharma and chemistry, food and beverage, aerospace and defense, metal and machining and other. The report also analyzes different applications that includes material handling, small parts assembly, CNC machine tending, molding operations, test and inspection, packaging and palletizing, polishing, screw driving, gluing, dispensing, welding, and others. In the payload segment, the market is segmented into different payload types such as less than 5kg, between 5-9Kg, and more than 9Kg.
The collaborative robot market is segregated by region under four major regions, namely North America, Europe, APAC, and Rest-of-the-World. Data for each of these regions (by country) is provided.
Key Companies in the Global Collaborative Robot Industry
The key market players in the global collaborative robot market include ABB Ltd (Switzerland), Universal Robot A/S (Denmark), Rethink Robotics (Germany), Aubo Robotics (the U.S.), Yaskawa Motoman. (Japan), Bosch Rexroth AG (Germany), Comau SPA (Italy), Denso Robotics, Inc(Japan), Nachi Robotic Systems, Inc. (the U.S.), Precise Automation, Inc. (the U.S.), Productive Robotics, Inc. (the U.S.), Seiko Epson Corporation (Japan), and Techman Robot (Taiwan).