Global COBOT market to surpass USD 1.1 billion by 2030 from USD 16.5 billion in 2020 at a CAGR of 44.3 % in the coming years, i.e., 2021-30.
The co-operating robot or cobot is designed substantially to communicate with individuals in a common workspace. The driving force for growth is the growing adoption in small and medium businesses (SMEs) and investment in manufacturing automation is expected to drive the market growth. The introduction of robotics in sectors such as the manufacturing of smart parts and the production of goods in the electronics industry further boosts the demand.
Cobots, are constructed to help human beings for particular tasks, which are highly complex in nature and require high precision. These robots work in a close relationship with humans. The robots can detect any unusual activity in their surroundings and can cooperate with humans without physical departure. Smaller, smarter, flexibility and user-friendly are some qualities which make cobots more attractive to be used in firms and industries. Because of several advantages like increased productivity and better employee utilization, collaborative robots are increasingly being used in different applications. Collaborative robots (cobots) decrease the total production costs and enable fast return of investment.
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Global COBOT market: Key Players
- EPSON Robots
- F&P Robotics AG
- KUKA AG
- Precise Automation
- Robert Bosch GmbH
- Yaskawa Electric Corporation
- Techman Robot by Quanta Storage
- DENSO Robotics
- Inc.; Franka Emika GmbH
- Comau S.p.A
- Energid Technologies Corporation
- Fanuc Corporation
- MRK-Systeme GmbH
- Other Prominent Players
Global COBOT Market: Segments
The up to 5kg segment is anticipated to register XX% of the volume share and is expected to grow at a highest CAGR.
The global Cobots Market is segmented by payload into up to 5 Kg, up to 10 Kg, and above 10 kg. The versatility, lightweight, and the capability of the system to optimize collaborative processes of low weight, including positioning, selection, and testing is driving the market growth of this segment. Because of their ability to handle larger tasks that require precision, reliability, and coordination with heavier weight processes, Cobots with a capacity of over 10 kg are expected to see substantial growth.
Assembly segment to grow with the highest CAGR during 2020-30
The global Cobots market is segmented by Application: assembly, pick and place, handling, packaging, quality testing, machine tending, gluing and welding, and others. Workers are also at risk of contamination while employed in industries like food & drink, healthcare and are not only susceptible to errors or injury. Machine tending requires workers to stand alongside a CNC or injection molding machine for long hours. Collaborative robots can automate a computer tending process without supervision over the course of hours and increase productivity.
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Market Dynamics
Drivers
User-Friendly Application
Adopting advanced robotic systems and the qualities of such technologies as user-friendliness and security are some of the drivers of global cobots development.
Restraint
High initial investment and rigorous training program
The main restrictions on the market are the huge initial investment in solutions and the rigorous training program for employees to interact with these robots, which require considerable time and investment and lead to reduced company adoption.
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Global COBOT market- Regional analysis
- North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
- Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
- Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
COBOT Market Product Segment
- By Payload:
- By Application:
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