Collaborative Robots Market Size Estimated to Reach USD 35.36 Billion | We Market Research
Collaborative Robots Market Size Estimated to Reach USD 35.36 Billion | We Market Research
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Collaborative Robots Market Introduction 2024-2035
Collaborative Robots Market Growth was predicted to be worth USD 1.90 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 5.8% from 2024 to 2035, reaching a value of USD 35.36 billion.
Collaborative robots, or cobots, are a subset of robotics that are made to cooperate with people. Collaborative robots are made especially to work together without endangering people, in contrast to standard industrial robots that are frequently confined or kept apart from people out of safety concerns. The capacity of collaborative robots to communicate and operate together with human employees is their distinguishing feature. To observe and react to their surroundings, they are outfitted with a variety of sensors, including force sensors and vision systems.
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Collaborative robots are often configured to perform activities that require physical interaction, such as handling products, assembling, or machine tending. Collaborative robots are meant to prioritize safety and are developed with features that decrease the danger of injury to people. They can sense the presence of people and automatically modify their behavior to avoid collisions with to built-in security features including force and torque limiting, speed reduction, and collision detection.
Collaborative robots are made to be accessible and easy to use, even for people who are not very skilled in robotics. Operators can set up and operate many cobots more easily thanks to their user-friendly interfaces and programming techniques, such as teach pendant systems or graphical user interfaces.
Key Benefits for Customers
Together with a collaborative robot market forecast, the research offers a unique and thorough analysis of the worldwide collaborative robot industry trends.
The market opportunity for collaborative robots, as well as its main drivers and constraints, are explained in the research. It is a collection of comprehensive data, contributions from industry experts and players.
In order to develop a strategy, Porter's five forces analysis is used to examine the competitive landscape of the collaborative robot market as well as the potential of suppliers and buyers.
The collaborative robot market study report charts the qualitative influence of several industry parameters on market segments and geographical areas.
Opportunities
Increased diversification of the current portfolio and market entry could lead to significant growth prospects.
Due to increasing investments in expanding current portfolios of cobots by providing more sophisticated versions, the worldwide market for collaborative robots is expected to produce significant growth potential. The Danish manufacturer of cutting-edge technology, Universal Robots, revealed in December 2023 that it would be launching a collaborative robot with a payload of 30 kg, thereby broadening its product line. The UR30, which was released as the replacement for the UR20, is small.
Throughout the projection period, the e-commerce sector has the potential to spur a significant pace of market expansion.
The logistics and transportation industries are growing rapidly as a result of the e-commerce sector. Large warehouses and other facilities utilized by the logistics sector frequently employ collaborative robots. In the upcoming years, the demand for cobots will be fueled by the robust growth of the e-commerce industry. The logistics industry's workload will increase due to the growing number of consumers purchasing used goods online.
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Collaborative Robots Market Trends
Improved Human-Robot Collaboration
Advanced safety features like force-limiting sensors and collision detection enable cobots to perform complex tasks safely alongside humans.
Diversification Across Industries
Cobots are expanding from automotive and electronics to sectors like:
- Healthcare: Assisting in surgeries, rehabilitation, and lab automation.
- Logistics: Optimizing sorting, packing, and warehouse tasks.
- Retail: Enhancing customer service and inventory management.
AI and IoT Integration
AI and IoT equip cobots with real-time analytics, predictive maintenance, and adaptive learning, boosting efficiency and adaptability.
Rising Adoption by SMEs
Affordable and scalable solutions make cobots increasingly popular among small and medium-sized enterprises, driving growth in this segment.
Challenges and Considerations
High Initial Costs
Upfront investment in cobots can be a barrier despite long-term cost benefits.
Workforce Resistance
Fears of job displacement may slow adoption, requiring clear communication of cobots' value to human roles.
Regulatory Compliance
Meeting safety and operational standards is essential but can pose challenges.
Market Segments:
By Payload Capacity
- Light-duty (up to 5 kg)
- Medium-duty (5-10 kg)
- Heavy-duty (over 10 kg)
By Application
- Pick and Place
- Assembly
- Packaging
- Machine Tending
- Quality Inspection
- Welding
- Painting
By End User
- Small and Medium-sized Enterprises (SMEs)
- Large Enterprises
- Manufacturers
Future Outlook
The collaborative robot’s market is poised for continued growth as technology evolves and businesses seek innovative ways to improve efficiency and competitiveness. Emerging trends, such as mobile cobots, autonomous navigation, and cloud robotics, promise to expand the scope and capabilities of cobots even further.
Market Regional Analysis:
The statistics of the major regions—North America, Europe, Asia Pacific, South America, and MEA—are included in the market analysis for collaborative robots.
The market for collaborative robotics, or cobots, is being shaped in North America by a number of significant themes. First, small and medium-sized businesses (SMEs) in a variety of industries are increasingly implementing cobots. These businesses are increasingly looking to cobots for adaptable and affordable automation solutions as they look to increase productivity and maintain their competitiveness.
Second, safety requirements and features are becoming more and more important in cobot deployment and design. Manufacturers are incorporating cutting-edge safety technology into cobots in response to stricter rules, which aim to guarantee safe human-robot collaboration in the workpl
Some Major key Companies involved in this market are:
- ABB Group
- DENSO Robotics
- Epson Robots
- Energid Technologies Corporation
- F&P Robotics AG
- Fanuc Corporation
- KUKA AG
- MRK-Systeme GmbH
- Precise Automation, Inc
- Rethink Robotics, Inc
- Robert Bosch GmbH
- Universal Robots A/S
- Franks Emika Gmbh
- AUBO Robotics
- Comau S.p.A.
Commonly Asked Questions?
Q1. What are the market potential and driving forces for collaborative robots worldwide?
Q2. In the future, which region will provide the global collaborative robot market greater business opportunities?
Q3. What are the main tactics used by companies in the global collaborative robot market to expand?
Q4. In 2022, which component subsegment held the largest proportion of the global market for collaborative robots?
Q5. Who are the top companies operating in the market for collaborative robots?
Q6. Who are the collaborative robot industry's possible clients?
Q7. What uses are anticipated to propel the use of collaborative robots?
Q8. Which current trends will have an impact on the market for collaborative robots over the coming years?
Conclusion
Collaborative robots represent a paradigm shift in the automation landscape. By combining the strengths of human ingenuity and robotic precision, cobots are driving new possibilities across industries. Businesses that embrace this technology stand to gain a competitive edge, while contributing to a future where humans and robots collaborate harmoniously to achieve greater efficiency, safety, and innovation.
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