According to MarketDigits, The Collaborative Robot (Cobot) Market is projected to grow from USD XX million in 2020 to USD 7,972 million by 2027; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 41.8% during 2020–2027.
Latest added Collaborative Robot (Cobot) Market research study by MarketDigits offers detailed product outlook and elaborates market review till 2027. The market Study is segmented by key regions that is accelerating the marketization. At present, the market is sharping its presence and some of the key players in the study are Kawasaki Heavy Industries, Precise Automation, MRK-Systeme Gmbh, Energid Technologies Corporation, F&P Robotics AG, Productive Robotics. The study is a perfect mix of qualitative and quantitative Market data collected and validated majorly through primary data and secondary sources.
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This report studies the Collaborative Robot (Cobot) Market size, industry status and forecast, competition landscape and growth opportunity. This research report categorizes the Collaborative Robot (Cobot) Market by companies, region, type and end-use industry.
Scroll down 100s of data Tables, charts and graphs spread through Pages and in-depth Table of Content on ” Global Collaborative Robot Market By Component (Hardware and Software), Solution (Safety light Curtain, Safety Laser Scanner, Camera Based 3D Space Monitoring System, Safe Gripping), Safety Method (Speed and Separation Monitoring, Power and Force Limiting, Safety-Rated Monitored Stop, Hand Guiding), Payload Capacity ( Up to 5kg, 5Kg to 10Kg, and Above 10Kg), Application (Material Handling, Quality Inspection, Pick and Place/ Drop, Packaging and Pelletizing, Machine Tending, Molding Operations, Gluing and Welding, Test and Inspection, Assembly, Polishing, Lab Analysis, Entertainment, and Others), End User (Electrical and Electronics, Furniture and Equipment, Automotive, Aerospace and Defence, Pharmaceuticals, Plastics and Polymers, Metals and Machining, Food and Beverages, Cosmetics, and Others), Geography (North America, Europe, Asia Pacific, Middle East and Africa, and Middle East and Africa) – Industry Trends and Forecast to 2026″. Early buyers will get 10% customization on study.
To Avail deep insights of Collaborative Robot (Cobot) Market Size, competition landscape is provided i.e. Revenue Analysis (M $US) by Company (2018-2020), Segment Revenue Market Share (%) by Players (2018-2020) and further a qualitative analysis is made towards market concentration rate, product/service differences, new entrants and the technological trends in future.
Unlock new opportunities in Collaborative Robot (Cobot) Market; the latest release from MarketDigits highlights the key market trends significant to the growth prospects, Let us know if any specific players or list of players needs to consider to gain better insights.
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Unlike traditional industrial robots, collaborative robots (cobots) provide a fast ROI (as low as 6 months in many cases), which benefit both SMEs and large companies. This is one of the primary drivers for its adoption. In tandem, emerging companies offering low-cost cobots and their increasing affordability is leading to a greater adoption among various industries.
Collaborative robots with payload up to 5 Kg estimated to hold largest share of market throughout forecast period
Low payload cobots are cheaper and take up less surrounding space compared to higher payload robots. Hence, they are mainly preferred by the first time users. For instance, COBOTTA, a cobot from DENSO (Japan), has an inherently safe design owing to its low weight and, therefore, does not require extensive use of sensors compared to higher payload cobots, which keeps it more affordable. Other low-cost robots such as the Panda Powertool from Franka Emika (Germany) and EVA from Automata (US) are also considered under this segment. These cobots often have grippers fitted by the cobot manufacturers themselves, reducing the hassle of integration and programming for the end user. Another benefit of these cobots is that they are easily re-deployable and take up minimal space when compared to higher payload cobots.
Market for software component to grow at higher CAGR during forecast period
Many cobot manufacturers are now investing in developing intuitive software programming software, as well as application-specific software. For instance, Universal Robots (Denmark) offers the URCaps programming environment for its collaborative robots. Techman Robot (Taiwan) offers the TM Palletizing Operator and TM Manager software for its cobots. Low-cost cobot manufacturers, such as Franka Emika (Germany), also offer various software packages through their Franka World online platform. Third-party software companies such as Energrid (US) and Vention (Canada) are also developing various software packages and application-specific plug-ins for collaborative robots. The application-specific software is expected to be key in facilitating easier and faster deployment of cobots for first time and existing users alike.
Handling application expected to hold largest share of collaborative robot market during forecast period
Handling tasks such as pick and place or palletizing are some of the most mundane and repetitive tasks being performed by human workers today. Human workers are not only prone to errors or damage but also run the risk of contamination when working in industries such as food & beverages and healthcare. Machine tending requires workers to stand for long hours beside a CNC or injection molding machine. Collaborative robots are able to automate a machine tending process during off hours, without any supervision, boosting productivity. Due to the popularity of handling applications, several cobot manufacturers such as KUKA (Germany) and F&P Robotics (Switzerland) offer in-house manufactured grippers as an optional purchase with their robots. Various third-party manufacturers such as Robotiq (Canada) and SCHUNK (Germany) also offer electric or vacuum-enabled collaborative grippers for cobots. Handling tasks are applicable for a wide range of industries, from automotive to furniture.
Collaborative robot market for electronics industry expected to grow at highest CAGR during forecast period
The electronics industry require low payload cobots (up to 5 Kg) for most applications, which are cheaper to purchase. Low payload cobots are also smaller in size and can be easily integrated into the production floor. With most collaborative robots now having an accuracy of 0.1 mm or less, they are ideal for handling and assembling delicate circuit boards and PCBs alongside human workers. Cobot manufacturers such as Doosan Robotics (South Korea) and Techman Robot (Taiwan) initially marketed their cobots for use in the electronics industry. In a few cases, however, large cobots with a payload above 10 Kg are used to automate packaging and palletizing applications to prevent any damage to electronic components inside the box.
Collaborative robot market in APAC expected to grow at highest CAGR during forecast period
The collaborative robot market in Europe is expected to be surpassed by APAC by 2021. This is due to the large scale of manufacturing industries in APAC, especially for the automotive, electronics and metals sectors. Regional players such as Doosan Robotics (South Korea) and Techman Robot (Taiwan) have successfully developed cobots which can directly compete with cobot manufacturers from Europe. China has several low-cost manufacturers such as Elephant Robotics (China), Han’s Robot (China), and Siasun (China) who are driving the growing acceptance of collaborative robots.
Key Market Players
Major companies in market are Universal Robots (Denmark), Techman Robot (Taiwan), FANUC (Japan), KUKA (Germany), Doosan Robotics (South Korea), AUBO Robotics (US), ABB (Switzerland), YASKAWA (Japan), Precise Automation (US), Rethink Robotics (US). Apart from these, Automata (UK) Productive Robotics (US) are among a few emerging companies in the collaborative robot market.
Founded in 2005, Universal Robots develops and manufactures collaborative robots (cobots) to automate and streamline repetitive industrial processes. The company raised its initial phase of funding from Syddansk Innovation (Denmark). It was subsequently acquired by the automated equipment manufacturer, Teradyne Inc. (US), in June 2015. The company supplies its collaborative robots to many industries, such as automotive and subcontractors; food and tobacco production; furniture & equipment; metals & machining; plastics & polymers; healthcare; and scientific research. Universal Robots exclusively develops collaborative robots, and its product portfolio includes the UR3, UR5, UR10 robot arms, named after their payload capacity in kilograms. At Automatica 2018, the company announced a premium option of these robots under the e-SERIES line–UR3e, UR5e, and UR10e. The new UR16e robot is not offered in a standard version. The e-SERIES robots provide better repeatability due to a built-in tool-centric force/torque sensor, with other improvements such as lower operating noise, UART interface support, m8 connector support (for end effectors), and an easier to use user interface. The company offers the UR+ Solutions platform, providing plug-and-play robot accessories and software from third-party manufacturers such as Robotiq (Canada), Zimmer Group (Germany), PIAB (Sweden), ATI (US), SICK (Germany), and Vention (Canada). Universal Robots is currently one of the most well-known players in the collaborative robot market. The safety system of the robots is approved and certified by TÜV (The German Technical Inspection Association). The major applications for these robots include pick and place, injection molding, packaging, palletizing, quality inspection, screwdriving, polishing, machine tending, injection molding, lab analysis, testing, gluing, painting, and welding. As of 2019, the company has 29 offices in 20 countries, including Denmark, the US, Germany, France, Spain, Italy, the Czech Republic, Turkey, China, India, Bangladesh, Singapore, Japan, South Korea, Taiwan, and Mexico. Universal Robots has a global network of around 400 distributors.
Scope of the Report:
This report categorizes the collaborative robot market based on payload, component, application, industry, and geography.
- Up to 5 kg
- 5–10 kg
- More than 10 kg
- Hardware (Robotic Arm, End Effectors, Drives, Controllers, Sensors, Power Supply, Motors, and Others)
- Handling (Pick and Place, Material Handling, Packaging and Palletizing, and Machine Tending)
- Assembling and Disassembling (Screwdriving and Nut Fastening)
- Welding and Soldering
- Dispensing (Gluing and Painting)
- Processing (Grinding, Milling, and Cutting)
- Others (Inspection and Quality Testing and Die-casting and Molding)
- Metals and Machining
- Plastics and Polymers
- Food & Beverages
- Furniture and Equipment
- North America
Human–Robot Collaborative Operational Environment (Qualitative)
- Safety-rated Monitored Stop
- Hand Guiding
- Speed Reduction and Separation Monitoring
- Power and Force Limiting
Integration of Cobots and IoT (Qualitative)
- Connectivity Technology (Ethernet, Wi-Fi, Bluetooth, and Cellular)
- Interoperability Software
Key Questions Addressed in the Report
- What will be the dynamics for the adoption of collaborative robots based on their payload capacity?
- How will different regions (North America, Europe, APAC, and Row) contribute to the overall collaborative robot market growth by 2027?
- Which countries are expected to adopt collaborative robots at a fast rate?
- What will be the value contribution from software and various hardware components in the overall collaborative robot market?
- What are the key market dynamics influencing market growth? How will they turn into strengths or weaknesses of companies operating in the collaborative robot market space?
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