Collaborative Robots or Cobot have been in existence for the last ten years but account for less than 5% of the industrial robots market. However, the adoption of Cobot is likely to see accelerated growth in the next five years because of the shortage of skilled labour force in different manufacturing set-ups, more intelligence to the cobots for handling complex tasks and the Covid pandemic that necessitated social distancing among humans. With robots becoming more mobile, more intelligent and more aware of their surroundings, the collaborative robots and exoskeletons are actively taking up tasks in the industrial and consumer related activities.
The Global Collaborative Robot Market was valued at USD 401.25 Million in the year 2020. The reasons attributing to the growth of the market are rapid digitalization, increasing use of emerging automation driven industries in developing countries and rising demand for Collaborative Robots with high payload capacity. Today, business drivers and political/social drivers, in combination with technological advancements, have greatly accelerated the expanded use of Collaborative Robots beyond their traditional industries and traditional roles. The collaborative robotics market is further expected to flourish with increasing government support for automation in industries including, collaborative robotics across the globe. The growing acceptance of collaborative robot with an extensive range of payload capacity such as up to 5 kg, between 5 & 10 kg and more than 10 kg has substantially led to the increasing use of Collaborative robots. Also, the growing demand for Cobots with higher payload capacity can support robotics market in helping consumers to attain more productivity with greater efficiency.
The Covid-19 pandemic has accelerated the usage of robots, leading to a renaissance of industrial production in some regions. Companies around the globe are reassessing their global supply chain business models to better adopt to the post Covid-19 world. This will likely accelerate the introduction of robots as the coronavirus has exposed the limitations of human labor workforce. As the world is continuously fighting the rapid spread of the Covid-19 pandemic, robotics and automation are playing a very crucial role in helping to safeguard the people and in processing the supplies that people need as they are shifting towards remote working and home learning. The cobots are helping in disinfecting the hospitals. Autonomous deliveries from the robots are bringing the supplies to people as they are adopting social distancing. Moreover, automated workstations are speeding up the work of pharmaceutical companies.
The Asia Pacific regional market is expected to become the largest cobots market in the forecast period. The major players operating in the Asia-Pacific Collaborative robots market include ABB Group, Fanuc Corporation, Yamaha Corporation, and Yaskawa Electric Corporation. These players offer a diverse portfolio of robots to cater to the demand of organisations in the region. These vendors have developed affordable, compact, and energy efficient robots for application in small and medium businesses. These players have also acquired and collaborated with other players in the region for portfolio expansion and geographic penetration.
Scope of the Report
• The report analyses the Collaborative Robot Market by value (USD Million) and volume (Unit Sales).
• The report analyses the Collaborative Robot Market by End User (Automotive, Electrical & Semiconductor, Food & beverages, Others)
• The report analyses the Collaborative Robot Market by Component (Hardware, Software).
• The report analyses the Collaborative Robot Market by Payload capacity (Up to 5 Kg, between 5 & 10 Kg, more than 10 Kg).
• The Global Collaborative Robot Market has been analysed By Region (United States, Canada, Mexico, Brazil. Germany, France, U.K, China, Japan, India).
• The key insights of the report have been presented through the frameworks of SWOT and Porter’s Five Forces Analysis. Also, the attractiveness of the market has been presented by region, by Payload Capacity, Component, End User
• Also, the major opportunities, trends, drivers and challenges of the industry has been analysed in the report.
• The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include ABB, Yaskawa Electric Corporation, FANUC Corporation, Kawasaki Robotics, Denso Robotics, Bosch, Kuka, Teradyne Inc, Nachi- Fujikoshi, Omron, Staubli Robotics.
• The report presents the analysis of Collaborative Robot market for the historical period of 2016-2020 and the forecast period of 2021-2026.
Key Target Audience
• Robot Design and Development Companies
• Collaborative Robot vendors
• Consulting and Advisory Firms
• Government and Policy Makers
• Regulatory Authorities
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