Robots created for direct interaction between humans and machines in a shared space or proximity to people and robots are called collaborative robots. Cobot applications are distinct from conventional industrial robot applications, where humans are kept out of the path of the robots. They are primarily used in various industries, including plastic, food and beverage, transportation, electronics, and retail.

 

The market for collaborative robots in 2021 was USD 701.56 million, and by 2030 it will be worth USD 2506.90 million, growing at a 15.2% CAGR during the forecast period.

 

The market’s expansion can be attributed to rising auto industry output, followed by a surge in the use of collaborative robots to boost productivity across the board. According to the International Energy Agency, 6.6 million electrified vehicles will be sold in 2021.

 

Market Dynamics

 

Drivers

 

Factors propelling the growth of the Collaborative Robots market are investments in the automation of production processes and the increasing adoption of robotics in small and medium enterprises (SMEs). The development of collaborative robots that work alongside humans in industries like the assembly of electronic products and smart components will only increase demand for these machines in the coming years. Additionally, the ability of robots to collaborate effectively with humans in a larger environment has resulted in a rise in the number of robot installations in the industry. Furthermore, across several industries, including electronics, automotive, logistics, packaging and assembling, and machine tooling uses, robots are predict to expand faster.

 

Restraints

 

However, the technologies employed are extremely exposed to physical and cyber security dangers, which could cause failure and result in accidents, injuries, and even fatalities. This will stifle market growth in the coming years. The necessity of routine system updates, which results in significant losses in the event of failure, is another constraining factor for the collaborative robots business.

 

Opportunity

 

Collaborative robots are expect to open up previously undiscovered opportunities for automation, such as food, logistics, and safety. Businesses that provide autonomous solutions to these segments are expect to benefit greatly in the future. For instance, 6 River Systems has a collaborative robot called Chucks that coordinates with human workers and synchronizes warehouse activities using cloud software.

 

Market Segmentation

 

By Application

 

The market for gluing and welding will grow at the greatest CAGR during the projection period. This is due to the numerous advantages that cobots provide, including decreased waste, improved consistency, quality, and output products that are attracting the attention of marketers.

 

The assembly application segment accounted for a sizable revenue share of approximately 23.0% across the collaborative robots market in 2022. It is due to the growing use of collaborative robots to combine simple, repetitive tasks and assist intricate assembly processes

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By Vertical

 

The automotive sector was the biggest market contributor, with 24% of the revenue share in 2022. The greater acceptance of collaborative robots is due to their capacity to minimize floor area and the expense of production delay. They also play a significant role in spot and arc welding, component assembly, painting, coating, and other processes. Additionally, the adoption of collaborative robots aids the automotive sector in boosting output, which raises demand over the forecast period.

 

By Payload Capacity

 

Due to its wide range of benefits, the up to 5kg payload capacity category had a revenue share of more than 44% in 2022. They optimize low-weight collaborative processes like selecting, placing, and testing while being flexible and light. The introduction of sophisticated cobots with payloads in this range creates new market expansion possibilities.

 

Regional Analysis 

 

Europe held a maximum position in the market, with a revenue share of more than 30% in 2022. This is primarily attributable to the widespread use of collaborative robots in various industries, including inspection, electronics, and transportation. Additionally, several benefits, including effective manufacturing optimization solutions and improved workplace collaboration, will support market growth.

Different retailers and online business monsters have begun putting resources into mechanical innovations as they assume a noticeable part in dealing with their coordinated operations and store network exercises. These organizations are effectively taking on advanced mechanics to help their labor force in the distribution centers. The lifting interest for cobots in the strategies area will give worthwhile development possibilities to the market over the gauge timetable.

Asia Pacific will expand at a CAGR of nearly 34.0% between 2023 and 2030 due to the region’s increasing focus on the precision and quality of cobots. The demand for cobots in the area is drive by their capacity to create goods of a high standard, minimize waste, boost productivity, and standardize goods.

 

Key Players

 

  • ABB
  • YASKAWA
  • Techman Robot
  • Universal Robots
  • KUKA
  • FANUC
  • Rethink Robotics
  • Precise Automation
  • Denso Corporation
  • Elite Robot
  • Doosan Robotics
  • F&P Robotics
  • MIP Robotics
  • Wyzo
  • Neura Robotics

 

The market for collaborative robots in 2021 was USD 701.56 million. And by 2030 it will be worth USD 2506.90 million, growing at a 15.2% CAGR during the forecast period. The market growth is drive by the rising investments in manufacturing process automation. And the increasing acceptance of cobots in SMEs.

The coordination of computerized reasoning and AI advances in modern robots is emphatically affecting the business space. Additionally, the appearance of 5G innovation is likewise expected to animate the reception of cobots in the assembling area. The arrival of a modern grade 5G remote organization by Nokia Company to meet the prerequisites of Industry 4.0 is a noticeable illustration of such turns of events. The low-idleness availability presented by 5G remote arrangements will assist OEMs with upgrading mechanical computerization and increment the efficiency, quality, and effectiveness of the assembling processes.

The sending of robots in modern cycles has likewise decreased the quantity of mishap cases at working environments. Additionally, they likewise essentially further develop item quality, which is inciting their interest across different organizations and endeavors. The rising reception of cobots in gadgets, auto, coordinated operations, machine tooling, bundling, and gathering applications is supposed to change the viewpoint of the cooperative robots market over the not so distant future.

 

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