Dublin, Jan. 17, 2022 (GLOBE NEWSWIRE) -- The "Collaborative Robot Market by Payload, by Components, by Application, by Industry - Global Opportunity Analysis and Industry Forecast 2021-2030" report has been added to ResearchAndMarkets.com's offering.
The Collaborative Robot Market size was valued at USD 590.5 million in 2020 and is predicted to reach USD 1990.2 billion by 2030 with a CAGR of 12.3% from 2021-2030.
Collaborative robots or cobots are human scaled machines, capable of performing jobs in tough or difficult environments. They work closely with humans and provide good level of productivity, mobility and output. Cobots are gaining traction in wide range of applications specially in the manufacturing industry due to their excellent performance in handling small and delicate objects. They are designed to share the same work area with humans and bring automation in the production environment. The sharing of the task is done in such a way that the robot handles manual, dirty, physically demanding, and repetitive jobs, while the human employee can focus on other things better suited their intellect. They are usually small in size and can be deployed in a new work location after a short training period.
Market Dynamics and Trends:
As the world continues to fight the rapid spread of the COVID-19 pandemic, robotics and automation have been playing a huge role in ramping up the production, handling the supplies, and even disinfecting hospitals. Cobots are adopted widely by SMEs as well as large size enterprises because of its low-cost and numerous benefits. They are also used by major car manufacturers to improve productivity and enhance the quality of the vehicles.
Further, workers have to stand beside the machines for a long time during their maintenance, which hampers their productivity. Collaborative robots can automatically perform machine maintenance tasks during off-hours without any supervision. This significantly improves the productivity and profitability of an organization. Moreover, growing adoption of cobots in financial sector like banking or NBFCs to perform monotonous cashier functions are expected to contribute towards the growth of the collaborative robots.
However, Cobots have limited speed, and thus not suitable for high-speed applications. Also, they cannot operate independently, since majority of them either do not possess self-learning capability or has it to a very limited extent. These are few factors expected to restrain the market growth to some extent. On the other hand, high growth prospects of the payloads above 11 kg to lift machines and equipment that are heavy in weight in automotive industry are expected to provide lucrative opportunities for the market players in near future.
Market Segmentations and Scope of the Study:
The collaborative robot market share is categorized on the basis of payload, component, application, industry and geography. On the basis of product type, the collaborative robot market is categorized into payloads of 5kg, 6-10kg, and 11kg and above. On the basis of by component, the market is divided into hardware and software.
Hardware is further subdivided into robotic arm, end effectors, drives, controllers, sensors, power supply, motors, and others. Based on application, the market is divided into handling, assembling and disassembling, welding and soldering, processing and dispensing. Based on industry type, the market is categorized into electronics, automotive, food and beverages, furniture and equipment, metals and machining and others. Based on geography, the market is segmented into North America, Europe, Asia-Pacific and RoW.
North America denotes higher adoption of collaborative robots and is anticipated to hold the highest market share during the forecast period. There is a significant increase in robotic surgeries is the U.S. in the past two decades. Moreover, increased investments by the National Science Foundation (NSF) which is an independent agency of the U.S. government to support novel technologies like robotics has also contributed towards the growth of collaborative robot market in this region.
The government has also taken measures to support the development of modern technology in the robotics market and promote the adoption of robotics technology in this region. For instance, in February, 2020, NRI2.0 accepted applications for Fiscal Year 2020 .NRI 2.0 plans to support basic research to accelerate the development and use of collaborative robots.
However, the Asia-Pacific region is expected to show rapid and consistent growth in market share within the forecast period. Asia Pacific collaborative robot market is primarily driven by the demand for automation across diverse sectors such as automotive, manufacturing and medical. Countries in this region are also witnessing the demand for robots because of the factors such as the growing demand for automation, and the significant investment by the Chinese government to develop technologically advanced robots.
Collaborative robot market, which is highly competitive, consists of a few major players. The major players included are ABB, Yaskawa, Nachi robot system, Universal robot, KUKA AG, MRK- systeme Gmbh, FANUC and AUBO robotics. The market players of Collaborative Robot have been making new strategic collaborations and launching innovative products in order to maintain their dominance over the market.
For instance, in March 2020, Yaskawa launched the 20kg payload HC20XP human collaborative robot that is suitable for applications where robots can work in close proximation to humans. This IP67-level collaborative robot can be used continuously in humid or splash-prone environments. Also, in Feb, 2021, ABB launched the GoFa and SWIFTI collaborative robot series, expanding its collaborative robot (cobot) product portfolio. The development of GoFa and SWIFTI aims to accelerate the company's expansion into high-growth areas, including electronics, healthcare, consumer products, logistics, food and beverages, etc.
Key Topics Covered:
2. Collaborative Robot (Cobot) Market - Executive Summary
3. Market Overview
3.1. Market Definition and Scope
3.2. Market Dynamics
4. Covid-19 Analysis
4.1. Covid-19 Outbreak
5. Market Share Analysis
5.1. Market Share Analysis of Top Collaborative Robots Providers, 2020
6. Global Collaborative Robot (Cobot) Market, by Component
6.2. Robotic Arm
6.3. End Effector or End of Arm Tool (Eoat)
6.7. Power Supply
6.9. Other Hardware
7. Global Collaborative Robot (Cobot) Market, by Payload
7.2. Up to 5 Kg
7.3. Between 5 Kg and 10 Kg
7.4. More Than 10 Kg
8. Global Collaborative Robot (Cobot) Market, by Application
8.3. Assembling & Disassembling
8.4. Welding & Soldering
9. Global Collaborative Robot (Cobot) Market, by Industry Verticals
9.4. Metals & Machining
9.5. Plastics & Polymers
9.6. Food & Beverages
9.7. Furniture & Equipment
9.9. Other Industries
10. Global Collaborative Robot (Cobot) Market, by Region
10.2. North America
10.5. Rest of World
11. Company Profiles
11.1. Oceaneering International, Inc.
11.3. Kuka AG
11.4. Yaskawa Electric Corporation
11.5. Denso Corporation
11.6. Universal Robots
11.7. Doosan Robotics Inc.
11.8. Rethink Robotics GmbH
For more information about this report visit https://www.researchandmarkets.com/r/47nm3e
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