Menu ×

MANUFACTURING & CONSTRUCTION

Collaborative Robot Market Segmentation by Payload (Up to 5 Kg, 5-10 Kg, and Above 10 Kg); by End User (Electronics, Automotive, Manufacturing, Food and Beverage, Chemicals, and Pharmaceutical); and by Application (Handling, and Processing) – Global Demand Analysis & Opportunity Outlook 2030

  • Text Size:

Extensive insights into the Growth of Collaborative Robot Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

Read More

IN THE NEWS

·    April 2020- ABB Ltd. launched a block-based programming interface, ‘Wizard Easy Programming’ with the aim to make programming its single arm YuMi cobot more intuitive.

·   September 2019- Universal Robots launched a brand-new collaborative robot model UR16e, which is designed for heavy payload application for tackling heavy duty tasks effectively.

Global Collaborative Robot Market Highlights 2022 – 2030

The global collaborative robot market is estimated to garner a large amount of revenue by recording a CAGR of ~42% over the forecast period, i.e., 2022 – 2030. Increasing affordability and ease of programming offered by collaborative robots are primarily expected to drive market growth in the forthcoming years. Furthermore, the world is witnessing a surge in demand for performing tasks requiring higher payload capacity efficiently. Cobots are well-equipped to perform effectively with employees in an uncaged environment, which in turn is projected to skyrocket the demand for these machines in the near future.    

Collaborative Robot MarketThe growth of the market can also be attributed to the high return on investment as compared to traditional industrial robotic system, and rising adoption of industrial robots across various industry verticals such as chemicals, automotive, electronics and others. It is calculated that almost 34 percent of industrial robots will be sold by the end of 2025. Also, about 40,000 cobots entered the robotics industry in 2020. Moreover, as per the International Federation of Robotics, automotive industry accounted for an installation of 105 industrial robots in the year 2019, bagging the highest number of installations in all industrial verticals, followed by electronics industry with 88 installations. CLICK TO DOWNLOAD SAMPLE REPORT

Industrial Robots

The market is segmented by end user into electronics, automotive, manufacturing, food and beverage, chemicals, and pharmaceutical, out of which, the automotive segment is anticipated to hold the largest share in the global collaborative robot market. This can be accounted to the growing robot innovations taking place in the automotive industry with augmented human capacity and capability. In addition, the significance of robots in industrial automation, including their ability to manage complicated and repetitive tasks with accuracy, even in hazardous environments, is also predicted to drive growth to the market segment in the future. Moreover, on the basis of payload, the up to 5 kg segment is assessed to grab the largest share over the forecast period owing to the lightweight, flexibility, high reliability and ability of collaborating heavier-weight processes.

Major Macro-Economic Indicators Impacting the Market Growth

Research Expenditure

The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.

Global Collaborative Robot Market Regional Synopsis

On the basis of geographical analysis, the global collaborative robot market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in Asia Pacific is estimated to witness noteworthy growth over the forecast period on the back of the increasing emphasis on the quality and precision of cobots, and rising adoption of automation and artificial intelligence technologies in the region. For instance, it is evaluated that AI will contribute to more than 25 percent of China’s GDP share in the year 2030, followed by North America with 14 percent and United Arab Emirates with 13 percent. Moreover, the market in North America is projected to acquire the largest share over the forecast period ascribing to the early adoption of robotics, and growing usage of collaborative robots for medical surgeries in the region. Apart from these, increase in investments by the government to support development of modern technologies in the industrial robotics market is also anticipated to boost the region’s market growth.

Collaborative Robot Market

The global collaborative robot market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the global collaborative robot market includes the following segments:

By Payload

  • Up to 5 Kg
  • 5-10 Kg
  • Above 10 Kg

By End User

  • Electronics
  • Automotive
  • Manufacturing
  • Food and Beverage
  • Chemicals
  • Pharmaceutical

By Application

  • Handling
  • Processing

Growth Drivers

  • High Return on Investment as Compared to Traditional Industrial Robotic System
  • Rising Adoption of Collaborative Robots Across Industry Verticals

Challenges

  • Speed Limitations of Collaborative Robots Owing to their Inherent Design

Top Featured Companies Dominating the Market

  • Fanuc Corporation
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • TechMan Robot Inc.
  • Rethink Robotics GmbH
  • Universal Robot A/S
  • AUBO Robotics USA
  • ABB Ltd.
  • Denso Corporation
  • Yaskawa America, Inc.
  • Bosch Rexroth AG
  • Staubuli International AG

FREQUENTLY ASKED QUESTIONS


Related Reports


Disclaimer | Privacy Policy | Terms & Conditions

Copyright © 2021 Research Nester. All Rights Reserved