Collaborative Robots Market Overview:
Collaborative Robots market was valued at USD 1.68 billion in 2022 and expected to grow at a CAGR of 35% during the forecast period. Collaborative robots, also known as coots, are a type of robot designed to work alongside humans in a shared workspace.
A cobot, often referred to as a collaborative robot, is a kind of robotic device intended to cooperate with people. Collaborative robots are made expressly to work in close quarters with people without endangering them, in contrast to standard industrial robots that are frequently caged or kept apart from people out of fear for their safety. The ability of collaborative robots to communicate and work together with human workers is what makes them unique. They can sense and react to their surroundings thanks to a variety of sensors installed in them, including force sensors and vision systems.
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Typically, collaborative robots are designed to carry out manual activities like object handling, assembly, or machine tending that demand for human contact. Safety is the top priority when designing collaborative robots, and they are constructed with characteristics that reduce the possibility of human injury. Because of their integrated security features, which include force and torque limits, speed reduction, and collision detection, they are able to recognize when people are around and change their behaviour accordingly to avoid mishaps.
The need for automation solutions has grown as a result of the need for automation in various sectors across the globe to boost efficiency and production. In particular, collaborative robots provide small and medium-sized businesses (SMEs) an adaptable and affordable automation solution, as they might lack the resources or expertise to adopt conventional industrial machines.
Advanced sensors and safety features on collaborative robots allow them to recognize and react to human presence, assuring safe cooperation. Because of their adaptability, cobots can be quickly and readily incorporated into production lines or workspaces that already exist without requiring significant changes.
Principal Benefits for All Organizations:
- Together with a prediction for the collaborative robot industry, the research offers an in-depth and exclusive analysis of global market trends.
- The market potential for collaborative robots is explained in the paper, along with the major factors propelling and limiting the industry. It is a compilation of thorough data, contributions from professionals and industry participants at every stage of the value chain, and a quantitative and qualitative analysis by industry analysts.
- For the purpose of developing a strategy, Porter's five forces analysis is used to examine the competitive landscape, supplier and buyer potential, and the collaborative robot market.
- The collaborative robot market study report charts the qualitative influence of several industry parameters on market segments and geographical areas.
- This report's data focuses on market dynamics, trends, and advancements that have an impact on the expansion of the collaborative robot industry.
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Market Dynamics:
Safety is a major factor in the adoption of collaborative robots. By collaborating safely with human workers, collaborative robots lower the possibility of accidents and injuries at work.
Flexibility: Collaborative robots are perfect for sectors with fluctuating production needs because of their great flexibility and ease of reprogramming to do varied jobs.
Efficiency: Since collaborative robots are able to operate around the clock, manufacturing and other industries can benefit from an improvement in productivity and efficiency.
Cost-effectiveness: Compared to typical industrial robots, which need costly safety features and installation, collaborative robots are frequently more affordable. Additionally, cobots require less training and specialized technological abilities because they are simple to program.
The Quality of the Product and Consistency: Collaborative robots can complete jobs with a high degree of precision and consistency, which reduces waste and improves product quality.
Availability: Easily scalable to meet production demands, collaborative robots are perfect for both small and big manufacturing operations.
Market Segments:
By Payload Capacity
- Up to 5kg
- Up to 10kg
- Above 10kg
By Application
- Assembly
- Pick & Place
- Handling
- Packaging
- Quality Testing
- Machine Tending
- Gluing & Welding
- Others
By End-use
- Automotive
- Food & Beverage
- Furniture & Equipment
- Plastic & Polymers
- Metal & Machinery
- Electronics
- Pharma
- Others
Geographically Analysis:
North America: One of the largest markets for collaborative robotics is North America. Numerous small and medium-sized manufacturers in the area are trying to increase the effectiveness and caliber of their output.
Europe: Thanks to the robust manufacturing sector in the area, Europe is another prominent market for collaborative robots. The European countries with the biggest markets for collaborative robotics include Sweden, Germany, the UK, France, and Italy.
Asia Pacific: The market for collaborative robots is anticipated to develop at the quickest rate in this region. The use of collaborative robots is being fueled by the region's expanding manufacturing sector and rising need for automation.
Rest of the World: Demand for collaborative robots is also rising in Latin America, the Middle East, and Africa, among other regions of the world. Growing industrialization and manufacturing process automation are the main factors driving the deployment of cobots in these locations.
Some of the key players operating in the market are:
- ABB Group
- DENSO Robotics
- Epson Robots
- Energid Technologies Corporation
- F&P Robotics AG
- Fanuc Corporation
- KUKA AG
- MRK-System GmbH
- Precise Automation, Inc.
- Rethink Robotics, Inc
- Robert Bosch GmbH
- Universal Robots A/S
- Yukawa Electric Corporation
- MABI Robotic AG
- Tuchman Robot Inc.
- Comas S.p.A.
- Others
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Collaborative Robots Market SizeThe sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Collaborative Robots Market Size.
The growth sectors of the Collaborative Robots Market Size are identified with precision for a better growth perspective.Industrial automation has become a necessity in the midst of high consumerization.
Companies and organizations globally have readily integrated automation into their processes to cater to consumer demand.
Collaborative robots or cobots are robots designed to work in tandem with humans to expedite the production rate.
Their assistance in executing menial tasks and reducing worksite injuries can be considered one of the main reasons for their adoption.
The global collaborative robots market report by Market Research Future (MRFR) outlines the latest trends in the industry.Market ScopeThe global collaborative robots market size can touch USD 3,538.46 million by 2023 by exhibiting 54.22% CAGR over the forecast period (2018-2023).
