Collaborative Robots (Co-Bots): Embracing The Future Of Robotics

By Goldstein Market Intelligence || 2019-09-12 1:01:33 PM

Collaborative Robots (Co-Bots): Embracing The Future Of Robotics

Collaborative robots(Co-bots) are reducing the challenges of manufacturing industry: Cobots are technological innovation which is transforming the existing robotics and automation industry. Technological advancement in automotive sector and adoption of collaborative robots over traditional robots is expected to boost the demand for industrial collaborative robots in near future. Flexible deployment with low labour cost is going to expand the collaborative robots market across the globe.

Changing vision from 2D to 3D

Cobots alongside with human co-workers minimize the risk and errors and helps in precision manufacturing. Robots associated with 3D vision system are being more integrated in manufacturing industries for lifting and movement of heavy parts in large quantities. In 2015, FANUC introduced CR-35i with 3D vision system and sophisticated sensing technology. CR-35i is designed to lift heavy objects, material handling and packaging and able to work with variety of applications. Collaborative robots with 3D vision are more reliable and cost effective. These factors are expected to drive the growth of global cobots market in near future.

Global Cobots Market Overview

The global collaborative robots market is segmented based on pay load capacity, application and end-user. Pay load capacity segment is further categorized on the basis of loads i.e. up to 5kg, up to 10kg and above 10kg. Collaborative robots with pay load capacity above 10kg are projected to witness noteworthy growth, owing to its high efficiency in pick and place application.

Rising concerns towards safety in manufacturing and automation industry is boosting the demand for collaborative robots in automotive sector. Global automotive cobots market size is estimated to reach USD 6.84 billion by 2024. Rising safety regulations in manufacturing industry in various regions such as Europe and North America are anticipated to contribute in the expansion of global collaborative robots market in automotive sector.

Europe region is projected to dominate the global collaborative robots market during the forecast period i.e. 2016-2024, due to high investment in industrial automation. Europe collaborative robots market is estimated to reach USD 5.62 billion by the end of 2024, growing at a healthy CAGR over the forecast period.

Collaborative Robots Market report by Goldstein Research contains detailed overview of the global collaborative robots market in terms of market segmentation by pay load capacity type, by application type and by end-user type.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Sacle) analysis, Porter’s five force model and SWOT analysis.

This market report also includes provides competitive outlook of some of the major players of the global collaborative robots market which includes profiling of companies Robert Bosch GmbH, ABB Ltd., FANUC Corporation etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.

Overall, the report represents comprehensive synopsis on the global collaborative robots market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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