London, Aug. 25, 2020 (GLOBE NEWSWIRE) — A collaborative robot (Cobot) is defined as a robot specifically designed for interaction with a human within a defined and safeguarded workspace where the robot and a human can perform tasks simultaneously during automatic operation. The human robot interaction happens during collaborative operation which is a state in which purpose designed robots can safely work with cooperation of a human. Collaborative robots have application in multiple industry verticals such as automotive, electronics, food & beverages, metals & machinery, plastic & polymer, construction, logistics, packaging, and healthcare.
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The collaborative robots market is expected to reach $1.43 billion by 2027, growing at a CAGR of 22.6% by value and 56,479 units by 2027, growing at a CAGR of 26.1% by volume during the forecast period of 2020 to 2027. The growth in this market is mainly attributed to the factors such as advancements in human-machine interface to enhance industrial production, rapidly evolving advanced software to enhance human safety, and increasing adoption due to ease of programming of collaborative robots. Moreover, the rising implementation of collaborative robots in non-manufacturing applications such as logistics and packaging; and declining prices are some of the key factors boosting the adoption of collaborative robots. However, the lack of proper training for human operators and lack of high-speed operation and faster cycle time capabilities hinders the growth of this market.
The overall collaborative robots market is segmented on the basis of application, end-user, component, payload, and geography. Based on application, the collaborative robots market is segmented into material handling, assembly line, machine tending, welding, and inspection. In 2020, the material handling segment is estimated to account for the largest share of the overall collaborative robots market. The large share of this segment is mainly attributed to the factors such as increasing production efficiency, high speed and accuracy of operations, low maintenance cost, speed and strength of material handling, and compact design of robots. Further, the material handling and logistics is a major application in various end-use industries such as automotive, electronics, metals, and machineries. Since, these industry verticals contribute a major share of the overall collaborative robots market, the material handling and logistics segment is also estimated to command the largest share. However, the assembly line segment and machine tending application are the high growth applications during the forecast period.
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Based on end user, the overall collaborative robots market is segmented into automotive & transportation, electronics & semiconductor, furniture, metal and machinery, plastic and polymer, food and beverage, construction, healthcare, and others. In 2020, the automotive & transportation segment is estimated to account for the largest share of the overall collaborative robots market. The key factor attributed to the largest share of this segment is the growing need to automate complex manufacturing processes that require high precision and accuracy in the automotive industry. For instance, collaborative robot in the automotive industry is used for loading and unloading of machine parts, installation of door panels, and assembling of small parts such as motors or pumps.
Based on payload, the collaborative robots market is segmented into up to 5KG, 5KG to 10KG, and above 10KG. In 2020, the 5KG to 10KG segment is estimated to hold the largest share of the overall collaborative robots market.
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On the basis of geography, the collaborative robots market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2020, Asia-Pacific region is estimated to account for the largest share of the global collaborative robots market. This large share can be attributed to the presence of large-scale manufacturing industries in the region, especially in automotive, electronics, and metal and machinery sectors. Also, the growing presence of the key robot manufacturers in the region, government initiatives, innovation, and investment in robotics further supports the growth of the collaborative robots market in the region. However, the European region is expected to grow at the highest CAGR during the forecast period. Europe is one of the early adopters of collaborative robots and the high growth is attributed to the introduction of industry 4.0 and artificial intelligence due to which both SMEs and large industries have adopted collaborative robots to modernize the production capabilities.
Some of the key players operating in the global collaborative robots market are ABB (Switzerland), AUBO Robotics (U.S.), Fanuc (Japan), F&P Robotics (Switzerland), Universal Robots (Denmark), Kawasaki (Japan), Robert Bosch (Germany), Precise Automation (U.S.), Rethink Robotics (Germany), Staubli (Switzerland). MABI (Switzerland), Yaskawa Electric (Japan), KUKA (Germany), Techman Robot (Taiwan), and Doosan Robotics (South Korea).
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Scope of the Report
Cobots Market by Application
- Material Handling & Logistics
- Pick & Place
- Packaging & Palletizing
- Assembly Line
- Machine Tending
- Grinding
- Milling & Turning
- Injection Molding
- Others
- Welding
- Arc Welding
- Laser Welding
- Spot Welding
- Others
- Inspection
- Others
Cobots Market by End-User
- Automotive
- Electronics & semiconductor
- Metals & Machinery
- Food & Beverages
- Plastics & Polymers
- Construction
- Healthcare
- Furniture
- others
Cobots Market by Component
- Hardware
- Robotic Arm
- End of arm tooling
- Welding Guns
- Grippers
- Vaccum Cups
- Clamps
- Tool Changer
- Others
- Drive
- Controllers
- Sensors
- Others
- Software
Cobots Market by Payload
- Up to 5Kg
- 5 to 10 Kg
- More than 10 Kg
Cobots Market by Geography
- North America
- Europe
- Germany
- France
- Italy
- U.K.
- Spain
- Rest of Europe
- Asia-Pacific (APAC)
- China
- Japan
- South Korea
- India
- Singapore
- Taiwan
- Rest of Asia-Pacific (RoAPAC)
- Latin America
- Mexico
- Rest of Latin America
- Middle East and Africa
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