Collaborative Robots Market Booms with Demand for Automation, Human-Robot Collaboration, and SME Adoption

The Collaborative Robots Market grows as industries seek cost-effective automation, safe human-robot workflows, and productivity gains.

AUSTIN, TX, UNITED STATES, December 10, 2024 /EINPresswire.com/ -- Market Scope and Overview

The collaborative robots (cobots) industry is booming, thanks to significant progress in automation and a growing trend towards flexible, cost-effective, efficient, and safer manufacturing processes.

According to the research report published by SNS Insider, the global Collaborative Robots Market was valued at USD 1.54 Billion in 2023, and it is anticipated to expand at a CAGR of 33.6% from 2023 to 2032, eventually reaching USD 20.8 Billion by 2032.

Market Drivers

The significant growth of the collaborative robots market can be attributed to several key drivers. The increasing need for automation among the industries for better operational efficiency and lower labor costs is one of the key factors supporting the growth. Unlike traditional industrial robots, cobots are more flexible since they can easily be reprogrammed to carry out different tasks, and deployed in existing infrastructure, with no significant alterations or modifications required. A key trend boosting this segment is increased attention to the safety of the industrial environment. Collaborative Robots, or cobots for short, are meant to work side-by-side with human workers safely, avoiding accidents and injuries. This is attractive for industries like automotive and electronics, where accuracy and security are paramount.

The increasing adoption of Industry 4.0 technologies and the move towards smart factories are also contributing to the overall market growth of these robots. These robots which can be connected to large complex manufacturing systems, are the primary enabler for smart manufacturing and digital transformation. In addition, the rise of AI, machine learning, and sensor technologies means that cobots can perform more road-related tasks with greater precision than ever.

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Some of the Major Key Players in the Collaborative Robots Market are:

✦ Universal Robots (UR3e, UR5e)
✦ FANUC Corporation (CR-15iA, CR-35iA)
✦ KUKA AG (LBR iiwa, KMP 600)
✦ ABB Ltd. (YuMi, IRB 6700)
✦ Yaskawa Electric Corporation (Motoman HC10, Motoman HC20)
✦ Rethink Robotics (Baxter, Sawyer)
✦ Adept Technology (Adept Viper, Adept Cobra)
✦ Teradyne Inc. (Universal Robots, DENSO VS-068)
✦ Staubli Robotics (TX2-60, TX2-40)
✦ Nachi-Fujikoshi Corp. (MZ07, MZ12)
✦ Omron Corporation (LD series, TM series)
✦ Epson Robots (C4, G3 series)
✦ Kawasaki Heavy Industries (DUA Series, RS007N)
✦ Doosan Robotics (M0609, M0617)
✦ Robot System Products AB (RSP X, RSP U)
✦ Siasun Robot & Automation Co., Ltd. (SR Series, Yaskawa Robots)
✦ MOTOMAN (MH Series, MPL Series)
✦ Insight Robotics (Firebot, Drones for Search & Rescue)
✦ AUBO Robotics (AUBO-i5, AUBO-i3)
✦ Hannover Messe (E-Series, K-Series)
✦ Others

Market Segment Analysis

By Payload Capacity

In 2023, up to 5kg payload capacity segment held the leading share of revenue which was 45% of the collaborative robots market. Low payload capacity cobots are prevalent in this segment, due to their higher flexibility and being deployable in smaller, and confined workspaces. These cobots are essentially best suited for high-precision tasks, including assembly, packaging, and testing, but not heavy lifting. Cobots under this category are also one of the most cost-effective automation solutions in the industrial landscape, making them a go-to for small and medium-sized enterprises (SMEs) that want to start their automation journey without incurring huge capital expenditures. The up to 5kg payload cobot market is projected to keep booming, as flexible automation solutions become increasingly in demand.

By Vertical

In 2023, the vertical segment was dominated by the automotive industry, accounting for more than 25% of the revenue share in the market. The higher education sector has always been the early adopters of collaborative robots where they are involved in tasks such as assembly, welding, advanced robotics & more similar tasks. In production lines where you have human workers, we use cobots to enhance productivity and efficiency, whilst reducing the risk of injury. All of this makes cobots even more useful in the auto industry for repetitive work that requires a high level of precision, installing components or moving heavy parts.

Market Segmentation and Sub-Segmentation Included Are:

By Payload Capacity
✦ Up to 5kg
✦ Up to 10kg
✦ Above 10kg

By Application
✦ Assembly
✦ Pick & Place
✦ Handling
✦ Packaging
✦ Quality Testing
✦ Machine Tending
✦ Gluing & Welding
✦ Others

By Vertical
✦ Automotive
✦ Food & Beverage
✦ Furniture & Equipment
✦ Plastic & Polymers
✦ Metal & Machinery
✦ Electronics
✦ Pharma
✦ Others

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Regional Analysis

In 2023, Europe dominated the global collaborative robots market with a revenue share of more than 31%. The region has established itself as a leader in robotics and automation, with countries such as Germany, France, and the Netherlands leading the charge. Europe’s dominance is attributed to a strong manufacturing base, particularly in industries such as automotive, electronics, and consumer goods, where collaborative robots are extensively deployed. The region also benefits from a well-developed industrial infrastructure and a strong focus on Industry 4.0 technologies. The United Kingdom, France, and Sweden are key contributors to the growth of collaborative robots in Europe, with manufacturers in these countries increasingly investing in automation solutions.

The Asia-Pacific region is poised to be the fastest-growing market for collaborative robots during the forecast period, driven by rapid industrialization, technological advancements, and a growing emphasis on automation in countries like China, Japan, and India. The expansion of manufacturing industries in Asia, along with the increasing demand for high-quality products, is fueling the adoption of cobots in the region. In North America, the United States continues to be a significant contributor to the collaborative robots market, owing to the presence of leading technology companies and the adoption of automation solutions in industries such as automotive, electronics, and logistics.

Recent Developments

✦ Universal Robots Expands Its Collaborative Robot Portfolio (June 2024): Universal Robots introduced a new range of cobots designed for industries such as electronics, pharmaceuticals, and food processing. The new models offer enhanced payload capacity and greater flexibility, enabling businesses to automate a wider range of tasks.

✦ KUKA Launches Collaborative Robots for Small to Medium-Sized Enterprises (August 2024): KUKA, a leading robotics manufacturer, announced the launch of a new series of affordable collaborative robots aimed at small and medium-sized enterprises looking to integrate automation into their operations.

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Table of Contents - Major Key Points

1. Introduction

2. Executive Summary

3. Research Methodology

4. Market Dynamics Impact Analysis

5. Statistical Insights and Trends Reporting

6. Competitive Landscape

7. Collaborative Robots Market Segmentation, By Payload

8. Collaborative Robots Market Segmentation, By Application

9. Collaborative Robots Market Segmentation, By Industry

10. Regional Analysis

11. Company Profile

12. Competitive Landscape

13. USE Cases and Best Practices

14. Conclusion

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SNS Insider | Strategy and Stats
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