Collaborative Robot Market Research
A new market study, titled “Collaborative Robot Market Research ” has been featured on Market Research Future.
Robotic automation has revolutionized the manufacturing sector and is aiming to expand its reach to various other industries. Cobots are gradually becoming a trend in the robotics sector due to development in motion control technology. Cobots enabled with motion control systems are capable of carrying out industrial tasks with greater accuracy making them highly desirable among industrial sector. A major trend in the healthcare industry is the adoption of UR5 cobot, manufactured by Universal Robots, a Danish collaborative robot manufacturer. The UR5 cobot along with human supervision performs handling and sorting of blood samples at the Copenhagen University Hospital in Gentofte, Denmark. Cobots are deployed in hospitals to monitor patients vital statistics, send alerts to nurses, enter information into the patient electronic health records, undertaking simple tasks such as drawing blood, dispense medications, and move objects in the surroundings. Key market players in the collaborative robot market are investing in integrating artificial intelligence, and machine learning with cobots that drives the market growth.
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Key players
The prominent players in the collaborative robot are FANUC Corporation (Japan), Rethink Robotics (US), MRK-Systeme GmbH (Germany), ABB (Switzerland), KUKA AG (US), Universal Robots A/S (Denmark), Precise Automation, Inc. (US), Energid Technologies Corporation (US), F&P Robotics AG (Switzerland), MABI AG (Switzerland), KAWADA Robotics Corporation (Japan), Universal Robots (Denmark), Techman Robot (Taiwan), YASKAWA Electric Corporation (Japan), and Robert Bosch GmbH (Germany).
Regional Analysis
The global market for collaborative robot is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of collaborative robot market is studied for North America, Europe, Asia-Pacific, and the rest of the world. Among these Europe is accounted to hold the largest market share in the collaborative robot market due to increasing adoption of cobots in countries such as Germany, the UK, France and Spain. The market growth in Europe is also fueled by governments in the European countries supporting the adoption of factory automation solutions and Industry 4.0 drive. Key European market players such as ABB, Robert Bosch GmbH, KUKA AG and MRK-Systeme GmbH, investing strongly in research and development of safe cobots also triggers the market growth in this region. North America is expected to hold the second largest share in cobot market due to increasing demand of cobots in automotive, electronics & semiconductor, manufacturing, healthcare and aerospace industries in the US, Canada, and Mexico. Asia-Pacific collaborative market is expected to grow at a higher rate due to the presense of a large number of manufacturing, consumer electronics, and food & beverage companies in this region. Asia-Pacific region is also expected to witness growing demand for automation in countries such as China, Japan, Malaysia, Singapore, and India.
Segmentation
According to Market Research Future, collaborative robot market is segmented into component, type, end-user, region.
Industry 4.0 has immensely expanded its each across various industries globally presenting a growth opportunity for collaborative robot market. The constant development in robotics and artificial intelligence drives the need for deploying robots to perform tedious and repetitive human tasks. With growing automation, cobots are being increasingly deployed alongside human workers to increase operational efficiency and productivity. ABB, one of the leading robot manufacturers, on April 13, 2015 released its dual-arm collaborative robot called YuMi for small parts assembling. YuMi’s components include flexible hands, parts feeding systems, camera-based parts location system, and advanced robot control system to collaborate with humans in manufacturing facilities. Moreover, ABB’s dual arm robot has accurate vision, enhanced grippers, highly sensitive force control mechanism, advanced software, and inbuilt safety features which drives its adoption in the market.
By payload, the market is segmented into up to 5kg, 5kg to 10 kg and above 10 kg. Among these the cobots with up to 5 kg payload holds the largest market share due to growing demand for light and moderate payload capacity cobots among small and medium enterprises.
By type, the market is segmented into safety monitored stop, speed & separation, power & force limiting, and hand guiding. Among these the power & force liming cobots hold the largest market share and is expected to grow due to their increasing adoption in the automotive industry.
By component, the market is segmented into controllers, drives, sensors, end effectors, and others. Among these the sensors component holds the largest share and is expected to grow in the coming years due to their increasing adoption to build cobots owing to the low cost of sensors.
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Collaborative Robot Market ResearchThe sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Collaborative Robot Market Research.
The growth sectors of the Collaborative Robot Market Research 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).
