The global collaboration robot (cobot) market was estimated at US $ 573.12 million in 2020. The market is expected to reach $ 4925 million by 2030, recording a compound annual growth rate (CAGR) of 24% during the 2021 forecast period. -2030.
Factors influence
The beneficial uses of cobots or collaborative robots are expected to increase their adoption during the forecast period. Collaborative robots provide excellent industrial automation solutions and help build a secure work environment. With these features, the global collaborative robot (cobot) market is expected to gain traction during the forecast period. Due to strong government funding to promote car solutions, the worldwide collaborative robot (cobot) market is planned to provide market players with profitable opportunities in the future.
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In 2017, Japan invested $ 30 million in a robot revolution after deciding the country’s future. In addition, the South Korean ministry wants to promote the robot demand by employing more service robots in the public sector. As a result, the future collaborative robot (cobot) market is expected to grow in the coming years.
The reasonable price of the collaborative robots is expected to improve their adoption during the analysis period.
The efficient working ability of collaborative robots improves the productivity of the work. As a result, it will propagate the growth of the market in the coming years. According to Universal Robot Company, collaborative robots can automate everything from assembly to painting, screws to labeling, and so on. These applications of these robots have proven themselves in various industries including food and agriculture, pharmaceutical & medical, electronics & technology, and automotive & subcontracting.
Collaborative robots require regular software upgrades and reprogramming. As a result, it would slow down the growth of the global collaborative robotics market.
Geographical analysis
Regionally, the Asia Pacific region is observed as the highest contributor to the expansion of the global collaborative robot (cobot) market. Industrial growth in China, India, Japan and other Southeast Asian countries has positively impacted robotics integration for various tasks. In addition, state and private companies invest heavily in the sector. As a result, it would accelerate the growth of the overall collaborative robotics market.
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In addition, North America and Europe hold the second and third largest shares in the collaborative robotics market, due to the expansion of the industrial sector in the region.
COVID-19 Impact Analysis
The use of collaborative robots has suddenly declined during the COVID-19 pandemic. It is because of the strict regulations that are banned by some countries. Most of the industrial sector had to suspend its activities for a short time. As a result, it affected trading activities.
Market segmentation
By payload capacity
- Up to 5 kg
- Up to 10 kg
- over 10 kg
By application
- Assembly
- Pick & Plaz
- Circumvention
- Packaging
- Quality testing
- Machine Tending
- Clover & Welding
- Others
By Industry
- Automotive
- Food & Drink
- Furniture & Equipment
- Plastic & Polymer
- Metal & Machinery
- Electronics
- Pharmaceutical
By Region
- North America
- The US
- Canada
- Mexico
- Europe
- Western Europe
- Great Britain
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East and Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
Competitors around the market
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- ABB Ltd.
- Universal Robot.
- Think Robotics.
- Kuka AG.
- Fanuc Corporation.
- Yaskawa Electric Corporation Capitalization
- Mrk-Systeme GmbH.
- Precise automation.
- F&P Robotics AG.
- Franka Emika GmbH.
- Other Prominent Player
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