Cobot Market: Segmented: By Load Capacity (Above 10 Kg, Upto 10 Kg And Upto 5 Kg); By Application Use (Handling, Pick And Place, Assembly, Packaging, Machine Tending, Gluing And Welding, Quality Testing, And Others) And Region - Global Analysis Of Market Size, Share & Trends For 2019-2021 And Forecasts To 2030
COBOT market to surpass USD 1.1 Billion by 2030 from USD 16.5 Billion in 2020 at a CAGR of 44.3 % in the coming years, i.e., 2021-30.
Cobots, are constructed to help human beings with particular tasks, which are highly complex and require high precision. These robots work in a close relationship with humans. The robots can detect any unusual activity in their surroundings and can cooperate with humans without physical departure. Smaller, smarter, flexibility, and user-friendly are some qualities that make cobots more attractive to be used in firms and industries. Because of several advantages like increased productivity and better employee utilization, collaborative robots are increasingly being used in different applications. Collaborative robots (cobots) decrease the total production costs and enable a fast return on investment.
The co-operating robot or cobot is designed substantially to communicate with individuals in a common workspace. The driving force for growth is the growing adoption in small and medium businesses (SMEs) and investment in manufacturing automation is expected to drive the market growth. The introduction of robotics in sectors such as the manufacturing of smart parts and the production of goods in the electronics industry further boosts the demand.
The global Cobots Market is segmented by payload into up to 5 Kg, up to 10 Kg, and above 10 kg. The versatility, lightweight, and capability of the system to optimize collaborative processes of low weight, including positioning, selection, and testing are driving the market growth of this segment. Because of their ability to handle larger tasks that require precision, reliability, and coordination with heavier weight processes, Cobots with a capacity of over 10 kg are expected to see substantial growth.
The global Cobots market is segmented by Application: assembly, pick and place, handling, packaging, quality testing, machine tending, gluing and welding, and others. Workers are also at risk of contamination while employed in industries like food & drink, and healthcare and are not only susceptible to errors or injury. Machine tending requires workers to stand alongside a CNC or injection molding machine for long hours. Collaborative robots can automate a computer tending process without supervision over hours and increase productivity.
Adopting advanced robotic systems and the qualities of such technologies as user-friendliness and security are some of the drivers of global cobots development.
Application in heavy payload
The rising demand is anticipated to increase demand for work requiring higher efficiency. In an uncaged environment, the capability of robots to work efficiently with staff has led to increased industrial installations. The co-robots are designed to avoid employee injury using advanced sensors, software, and Arm End Tooling (EOATs).
High initial investment and rigorous training program
The main restrictions on the market are the huge initial investment in solutions and the rigorous training program for employees to interact with these robots, which require considerable time and investment and lead to reduced company adoption.
Global COBOT Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Global COBOT market in Europe held the largest market share of XX% in the year 2020. The huge application of cobots in various vertical components, such as electronics, logistics, and inspections, is attributed to regional growth. In addition, a range of benefits can be extracted from regional growth in cobot technology, such as an increase in cooperation and productive solutions for manufacturing optimization offered by workplace automation.
|Market size value in 2021
|USD 1.1 billion
|Revenue forecast in 2030
|USD 16.5 billion
|CAGR of 44.3 % from 2021 to 2030
|Base year for estimation
|Revenue in USD million and CAGR from 2021 to 2030
|Revenue forecast, company ranking, competitive landscape, growth factors, and trends
|Application, payload, and Region
|North America; Europe; Asia Pacific; Latin America; Middle East & Africa (MEA)
|Key companies profiled
|ABB Group, EPSON Robots, F&P Robotics AG, KUKA AG, Precise Automation, Robert Bosch GmbH, Yaskawa Electric Corporation, Techman Robot by Quanta Storage, DENSO Robotics, Inc, Franka Emika GmbH, Comau S.p.A, Energid Technologies Corporation, Fanuc Corporation, MRK-Systeme GmbH, Other Prominent Players.
The Cobot Market size was estimated at USD 16.5 billion in 2020 and is expected to reach 1.1 billion by 2030.
Key players: ABB Group, EPSON Robots, F&P Robotics AG, KUKA AG, Precise Automation, Robert Bosch GmbH, Yaskawa Electric Corporation, Techman Robot by Quanta Storage, DENSO Robotics, Inc, Franka Emika GmbH, Comau S.p.A, Energid Technologies Corporation, Fanuc Corporation, MRK-Systeme GmbH, Other Prominent Players.
The up to 5kg segment and Assembly segment are anticipated to hold the largest Cobot Market.
Drivers: User-Friendly Application and Application in heavy payload
Cobots, are constructed to help human beings for particular tasks, which are highly complex in nature and require high precision. These robots work in a close relationship with humans. The robots can detect any unusual activity in their surroundings and can cooperate with humans without physical departure. Smaller, smarter, flexibility and user-friendly are some qualities which make cobots more attractive to be used in firms and industries.
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