Cobots Market By Payload (upto 5 Kg, upto 10 Kg and above 10 kg.); By application (assembly, pick and place, handling, packaging, quality testing, machine tending, gluing and welding, and others); and Region -Analysis of Market Size, Share & Trends for 2016 - 2019 and Forecasts to 2030
Cobots market to surpass USD 22053.8 million by 2030, which is valued at 1208 million in 2021 at a compound annual growth rate of 38.10%.
Cobots, or collaborative robots, are designed to aid human beings with specific tasks, which are highly complex and require high precision. These robots work in a close association with humans. The robots can observe any unusual activity in their surroundings and can cooperate with humans without physical separation. Smaller, smarter, flexibility, and user-friendly are some attributes that make cobots more attractive to be used in factories and industries. Due to several benefits like increased productivity and better employee utilization, collaborative robots are increasingly being used in different applications. Collaborative robots (cobots) reduce the total production costs and allow a fast return on investment.
Cobots market Market is expected to project a CAGR of 38.10% during the forecast period, 2021-2030
The co-operating robot or cobot is designed physically to communicate with people in a common workspace. The growth driving force for growth is the growing acceptance of small and medium businesses (SMEs) and investment in manufacturing automation is expected to fuel the market growth. The introduction of robotics in areas such as the manufacturing of smart parts and the production of goods in the electronics industry further boosts the demand.
Up to 5kg segment is anticipated to register 38.10%. of the volume share and is expected to grow at the highest CAGR.
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.
Assembly application accounted for 38.10%. of Global volume in 2019 and is anticipated to grow at the highest CAGR
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.
Implementing advanced robotic systems and the attributes of such technologies as user-friendliness and security are some of the drivers of global cobots development.
Application in heavy payload
The growing demand is expected to lead to increasing demand for work requiring higher efficiency. In an uncaged environment, the ability of robots to work efficiently with the 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 strong 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.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
The Cobots Market size was estimated at USD 1208 million in 2019 and is expected to reach USD 22053.8 million by 2030.
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
Assembly application segment is anticipated to hold the largest Food Service Equipment Market
Drivers: User-Friendly Application and Application in heavy payload
Cobots, or collaborative robots, are designed to aid human beings with specific tasks, which are highly complex and require high precision. These robots work in a close association with humans. The robots can observe any unusual activity in their surroundings and can cooperate with humans without physical separation.
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