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2020-09-01
710
Global
Collaborative robots (Co-bots) are new generation robots which are used for different application and are capable of accomplishing the complex task. The growing demand for industrial automation is increasing the annual supply of collaborative robots. In 2013, more than 65,000 units of industrial robots were supplied in the automotive industry. Countries such as China, Japan, and Germany are holding the largest market share of industrial robots. Due to the impressive expansion of collaborative robots in several industries, different types of companies are investing in robotic solutions for high productivity and efficiency. For instance, in 2016, Whirlpool and Deco Lighting have invested in collaborative robots for Asian and European robotic industries.
Key industry players of collaborative robots are continuously investing in the R&D manufacturing of innovative industrial robots. For instance, APAS is the first collaborative solution robot introduced by Bosch in October 2014. APAS is a certified collaborative robot in the assistance system without any further shielding with people. In 2015, YuMi a collaborative robot with flexible hands and a camera-based robot controller is introduced by ABB Ltd. YuMi is used to improve manufacturing productivity in the machinery and electronics industry. Implementation of robots to improve the performance in utilities, automotive and other industries is likely to propel the demand for collaborative robots (cobots) across the globe.
Easy Integration of Robotic Arms into Several Electronic Productions is Expected to Raise the Demand for Cobots
Collaborative robots for the automotive industry are the dominating segment based on the end-user segment. Over 45% of total industrial robots supplied annually are acquired by the automotive industry. However, the electronics industry is expected to occupy over a 20% share of the total supply of industrial robots. Easy integration of robotic arms into several electronic productions such as mobile phones, devices, computers, etc. is expected to raise the demand for collaborative robots in the electronics industry. The global collaborative robot market is also projected to be driven by the vast application in furniture and equipment, food & beverage and plastics & polymers industry. Market share of handling application was nearly 25% of total collaborative robots market. Growing awareness about safety operations such as welding, gluing and machine tending are projected to propel the growth of the global collaborative robot market.
Global collaborative robots market is segmented on the following basis:
Based on Pay Load Capacity
Based on Application
Based on End-User
Based on Geography
In 2015, collaborative robots hold nearly 3% of total robots sold in units. Over 22,000 units of collaborative industrial robots were sold in 2017 and the supply is expected to reach over 1 million units by the end of 2025. The ability of machines to work and co-ordinate with humans with safety is fuelling the demand for collaborative robots across the globe. The global collaborative robot market is expected to reach USD 15.2 billion by 2024 from USD 0.79 billion in 2017, growing at a CAGR of 44.72% over the forecast period i.e. 2017 - 2030.
Early adoption of robotic products and services and increasing regulations related to human safety in industries is expanding the European collaborative robot market. Europe is the dominant region of the global collaborative robot market followed by North America and Asia-Pacific. Growing implementation of collaborative robots in material handling & packaging, quality testing, welding and others in the end-use industry is raising the annual shipments of industrial collaborative robots in Europe. Germany occupied the largest share of Europe's collaborative robot market in 2016.
Rising adoption of industrial automation in countries such as China, Japan, and South Korea is increasing the demand for collaborative robots in the Asia-Pacific region. Asia-Pacific region is projected to occupy a 23% share of the total collaborative robot market. Asia-Pacific collaborative robot market was valued USD 0.18 billion in 2016 and expected to register healthy growth during the forecast period. Moreover, the purchasing number of robots by several industries in North America has increased which is responsible for the expansion of the collaborative robot market in the region.
Boost in industrial automation in countries such as Brazil, Mexico, Columbia, Saudi Arabia, the UAE, and Nigeria are likely to accelerate the growth of cobots business in Latin America and the Middle East & Africa region.
High precision in performance and flexibility to be programmed for any task is increasing the adoption rate of collaborative robots by different industries. Rising investment in industrial automation and higher return is driving the demand for collaborative robots globally. Lack of skilled labors and increasing labor cost are the major factors which are increasing the inclination of manufacturing industries towards collaborative robots.
However, currency devaluation and economic crisis in several countries are obstructing the growth of cobots market. As collaborative robots work at a certain pace, change in the work environment puts a strain on the productivity of collaborative robots. Low price robots are still facing a challenge to meet industrial demand at high speed. This is the major factor which is obstructing the adoption of collaborative robots by small enterprises. To meet the productivity demand maintaining its speed is a barrier for manufacturers of collaborative robots.
Market Synopsis
Market Segmentation
The Global Collaborative Robots Market is segmented as follows:
By Regions
The report analyzes and includes complete detailed chapter of 50-70 pages about the short term & long terms impact of COVID-19 outbreak on each segment of "Global Collaborative Robots (Cobots) Market" along with government measures to support the sector. It also showcases the current market landscape during COVID, impact of the virus on leading companies, expected demand schedule and supply chain in the industry and other various major factors. This will help you identify those companies that may benefit from this pandemic as well as those that will lose out.
Market Dynamics: Growth Drivers, Restraints and Opportunities
Key Market Players
Porter’s Five Force Model
Market Landscape: Competition and Beyond
Market outlook for business players and entry-level players to ascertain their business in a dynamic ecosystem
Expert Analysis
Concluding Remark
*The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry.
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