Collaborative Robot Market Overview

The global collaborative robot market is estimated to reach USD 25.16 Billion by 2030, growing at a CAGR of 34.8% during the forecast period, 2022-2030. It was calculated at USD 1.33 Billion in 2022. With the increasing demand for the collaborative robot for efficient tasks requiring heavier payloads, a collaborative robot is well-equipped to work effectively with workers in suitable environments. The collaborative robot’s affordability and ease of programming are expected to drive market growth. Furthermore, the growing adoption of robots across several end-user industries such as automotive, chemicals, electronics and others, the collaborative robots give a high return on investment as compared to the traditional industrial robotic system, Upsurge in investments by the government to the expansion of advanced technologies in the collaborative robotics market is estimated to boost the market growth.

What is a collaborative robot?

Collaborative robots are human-scale robots that work with human agents in demanding environments while maintaining mobility and productivity in the workplace. They have safety features such as integrated sensors, passive compliance, and overcurrent detection for human operation. In addition, these external forces are detected by the built-in sensor, so if the force is too large, the robot will stop moving. In addition, the combination of sensor data and simple technologies such as artificial intelligence and machine learning allows these robots to degrade in a dynamic real-world environment and make real-time decisions.

Growth Driver

Growing adoption of collaborative robots in SMEs and Large Enterprises

Collaborative robots are extremely suitable in manufacturing to perform complicated operations, such as packaging, assembling, loading & unloading, sorting, and others, and assistance companies save the cost of labor, increasing adoption of collaborative robots in small and medium enterprises for their capabilities. Robot manufacturers are equipping collaborative robots with logistics technology that further reduces the technology expenses and improves robot functionality. Furthermore, the significant reductions in sensor costs due to increased market penetration of sensor manufacturers contribute to the market’s growth.

Opportunity

Growing needs for the portable particle counters

Artificial intelligence increases flexibility and helps perform new operations. Artificial intelligence helps improve data collection in unstructured environments. One of the key opportunities for the market is to incorporate artificial intelligence into collaborative robots. In addition, technological advances in edge computing have made collaborative robots easier and more flexible to operate. Edge computing eliminates the need for programming to install and reduces integration costs. Adopting artificial intelligence and edge computing into collaborative robots is the market’s key opportunity.

Restraints

High expenditure and lack of skilled worker

The factors that can affect the growth of collaborative robots are high initial costs such as integration, procurement, programming and maintenance can slow growth. Moreover, a shortage of skilled workers in underdeveloped and developing regions is the factor that significantly impacts the growth of the collaborative robot market. Security concerns are a major concern for collaborative robots. Power outages and malfunctions can cause serious injuries, and Strict government regulations can also be seen as an important impediment to global market growth.

Pre-Covid-19 impact on global Collaborative Robot market

In the Pre-covid-19 period, the collaborative robot market is growing due to the robots offering innovative industrial automation solutions to the end-user industry the enlarged efficiency in the deployment of collaborative robots for improved productivity in various industries. The collaborative robot can manufacture a mass production in time and high accuracy, flexibility and safe, easy use, and reasonable price. Growing adoption in food and beverages, automation, and others industry is the factor in the market’s growth before the pandemic.

Covid-19 impact on global Collaborative Robot market

The COVID19 pandemic has led to global supply chain disruptions and delays in installing collaborative robots in various major industries such as electrical and electronic, automobiles, and metal and machining. In addition, to continuous blockades, the entire supply chain ecosystem across all industries is affected. Industries such as the automotive and general manufacturing industries, where robotic solutions play an important role, are experiencing a rapid decline. Moreover, collaborative robots also support hospital disinfection and medical professionals to use a variety of advanced technologies robotics, including telemedicine.

Post Covid-19 impact on global Collaborative Robot market

After the post-Covid-19 pandemic, the growing demand for collaborative robots is due to the increasing adoption in healthcare industries to deliver medication disinfect patient rooms and surgery suites. Collaborative robots can measure skin temperature, pulse rate, blood oxygen, and breathing rate, which assist in adopting the robot in healthcare industries. Growing adoption of collaborative robots in small and medium enterprises, Industries are increasing to use advanced collaborative robots instead of human labor. Therefore, these developments are expected to provide the collaborative robot market growth opportunities.

Payload Segmental Analysis

Based on the payload segmental analysis, the global collaborative robot market is segregated into 5kg, 6-10 kg, and above 10 kg. The up to 5kg segment is estimated to have the largest market share in the global collaborative robot market. The segment growth is due to the ability to quickly execute many and repeated operations. A low payload collaborative robot is cost-effective and requires less space than a higher payload collaborative robot. The segment increase adoption in the electronic & technology, automotive, aerospace and other end-user industries.

Application Segmental Analysis

Based on the application segmental analysis, the global collaborative robot market is categorized into material handling, packaging, assembly, pick and place, machine tending, inspection & quality testing, welding, and others. The material handling segment is anticipated to have the largest market share in the global collaborative robot market. The growing demand for food & beverage, automotive, electronics industries in these industries require smooth motion, and in such situations, the robot is mainly used to reduce accidents and maintain safety.

End-User Industry Segmental Analysis

Based on the end-user industry segmental analysis, the global collaborative robot market is categorized as plastic and polymers, food & beverages, furniture and home equipment, electronic & technology, automotive, aerospace, and others. The automotive segments will have the maximum market share in the collaborative robot market. The collaborative robots used in this automotive industry are designed and developed according to requirements. Several automotive industries use collaborative robots for many applications, including panel lining, paint masking, tire manufacturing, laser-cutting rigs, packing and palletizing, engine foundries, line & forming presses etc.

Region Segmental Analysis

Based on the regional segmental analysis, the collaborative robot market is categorized as North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia Pacific region is projected to rise significantly during the forecast period, 2022-2030, due to the increasing expenditure on industrial automation in several end-use industries, Increasing demand for customized machinery and automation in nations such as China and India. The government initiatives to boost manufacturing activities are expected to boost collaborative robot demand in the region.

Competitor Analysis

Companies include Robert Bosch GmbH, ABB Ltd. Universal Robots, Kuka AG, Funuc Co., Denso Robotics, Yaskawa Electric Co., Precise Automation, OMRON Corporation, Rethink Robotics, Franka Emika, Bosch Rexroth AG, SIASUN, Hanwha Co., MIP Robotics, Kassow Robot, are the players, in the global collaborative robot market. Key Stakeholders

• Market research and consulting firms
• Industry associations
• Global collaborative robot manufacturing firm
• Local Governments
• Regulatory bodies
• Suppliers
• Retailers

Recent Development

• In 2021, OMRON Corporation announced a stock investment agreement with Techman Robot, Inc., a well-known collaborative robot brand that works at manufacturing sites.
• In 2020, ABB Ltd. launched Wizard Easy Programming, a block-based programming interface, to make programming the one-armed cobot YuMi more intuitive.
• In 2020, Universal Robots introduced the UR + application kit to streamline the deployment of cobots and remove barriers to industrial automation for SMEs.

Scope of the Report

Report Attribute	Details
Market Size Value in 2021	USD 1.33 Billion
The revenue forecast in 2028	USD 9.16 Billion
Growth Rate	CAGR of 31.8% from 2022 to 2028
Historical data	2017 – 2020
Base Year	2021
Forecast period	2022 – 2028
Region covered	North America, Europe, Asia-Pacific, South America, and Middle East & Africa
Key companies Profiled	Robert Bosch GmbH, ABB Ltd. Universal Robots, Kuka AG, Funuc Co., Denso Robotics, Yaskawa Electric Co., Precise Automation, OMRON Corporation, Rethink Robotics, Franka Emika, Bosch Rexroth AG, SIASUN, Hanwha Co., MIP Robotics, Kassow Robot

Market Modelling

By Payload

• Up to 5Kg
• 6-10 Kg
• Above 10 Kg

By Application

• Material Handling
• Packaging, Assembly
• Pick and Place
• Machine Tending
• Inspection & Quality Testing
• Welding
• Others

By End-User Industry

• Plastic and Polymers
• Food & Beverages
• Furniture and Home Equipment
• Electronic & Technology
• Automotive
• Aerospace,
• Others

By Region

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

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