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Home » Press Releases » Collaborative Robot Market worthUSD1671 million by 2027

Collaborative Robot Market worthUSD1671 million by 2027


Published Date: Mar-2022 | Report Format:Electronic (PDF)

The report 'Collaborative Robot' Market by Payload(Upto 5 Kg, Upto 10 Kg, Above 10 Kg), By Application(Machine Tending, Assembly, Material Handling, Quality Testing, and Others), By End- User (Automotive, Electronics & Electrical, Metals & Machining, Food & Beverages, and Others)- Global Forecast to 2030. The Market global Collaborative Robot is predicted to reach a market value of USD1671million by 2027 from USD609millionin 2020, at a CAGR of 15.2 percent during the forecasted period. On a recent basis, collaborative robots are less expensive and easily affordable in comparison to traditional industrial robots. Moreover, they are a bit easier to operate, mostly in terms of their utilization for training purposes. It is one of the prime reasons that will enhance the market's overall growth, possessing a steady growth throughout the forecasted period.

To know more about the report, Click on the link https://www.strategicmarketresearch.com/market-report/collaborative-robots-market

 

The collaborative robots market is bifurcated into up to 5kg, up to 10kg, and above 10kg, Based on the payload capacity. In the year 2020, 'up to 5 kg' payload capacity possessed the largest cobot market share. It is mainly because of the machine's flexibility, lightweight, and total capability to optimize the various collaborative processes like testing, picking, and placing. Moreover, the Cobots in the 5–10 kg payload range category is primarily used to handle the parts that are mostly heavier in nature. In addition, they do have a longer reach for jobs like palletizing, machine tending, and many more. As per the ISO 10218 safety standard, the grippers, which are primarily utilized for handling payloads within a range of 10 kilograms or lower than that, are collaborative, which also signifies that the robots having a payload range in between 5–10 kilograms, and do not require any kind of specialized grippers for the collaborative tasks.

 

In terms of the End- User, the market has been bifurcated into Automotive, Electronics & Electrical, Metals & Machining, Food & Beverages, and Others. Among these end-users, the automotive industry possessed a market share of approximately 32 percent in the year 2020 and is predicted to lead the market throughout the forecasted time period. Moreover, some of the leading factors like reduction in terms of acquiring floor space and minimizing the cost of production downtime will all augment the market's overall growth during the anticipated timeframe. 

 

Based on Application, the whole market segment is bifurcated into Machine Tending, Assembly, Material Handling, Quality Testing, and Others. Among these market segments, the Assembly segment possessed a maximum share in the year 2020 and is anticipated to hold a prominent position throughout the forecasted timeframe. It is due to the fact that it has the full capability to handle more complicated problems involved in the entire process of the assembly.

 

In terms of regional scale, the Asia Pacific region possessed the highest collaborative robot market share in the year 2020, both in terms of volume and value. This is due to the fact that in the entire region, there involves increasing labor costs that are enabling the producers to automate the overall production processes so that they can continue their profit generation processes by reducing the overall costs involved in it. Moreover, with the introduction of artificial intelligence and many other innovative technologies, there is a greater probability of utilization of automation processes in the upcoming future. Hence the utilization of cobots in these automation processes is expected to enhance the cobots market in the next upcoming decades. As per the study by UiPath, over eighty-eight percent of the organizations feel that automation will enhance overall human achievement immensely and will be highly efficient when the technology is utilized with the help of humans.

 

The leading players that operate in the market are Techman Robot, YASKAWA, KUKA, ABB, FANUC, Universal Robots, Rethink Robotics, Doosan Robotics, F&P Robotics, Precise Automation, MIP Robotics, Denso Corporation, Wyzo, Elite Robot, and Neura Robotics.

 

Recent Developments

  • In March 2021, with the Danish manufacturer of collaborative robot applications, OnRobot, the OMRON Industrial Automation Europe, had a distribution deal. This will allow the OMRON to deliver the products manufactured by the OnRobot, to all the clients and customers all across the Middle East, Europe, and Africa.

 

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