Cobots Market Size

Product overview

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.

Market Highlights

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.

Global Cobots Market: Segments

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.

Market Dynamics

Drivers

User-Friendly Application

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).

Restraints

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.

Global Cobots market is further segmented by region into:

North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – the United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and the Rest of APAC
MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa

Global Cobots Market: Key Players

ABB Group

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis

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

Global Cobots Market report also contains analysis on:

Cobots Market Segments

By Payload
- up to 5 Kg
- up to 10 Kg
- above 10 kg
By Application
- Assembly
- pick and place
- packaging
- handling
- quality testing
- machine tending
- gluing and welding
- Others
Global Cobots Market Dynamics
Global Cobots Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints

Frequently Asked Questions (FAQ):

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