Collaborative Robots Market: Opportunities and Key Players by 2024
Uncover insights into the collaborative robots market, analyzing applications, growth drivers, and key players reshaping automation in diverse industries.
The study of the global Collaborative Robots Market is presented in the report, which is a thoroughly researched presentation of the data. The analysis delves into some of the key facets of the global Collaborative Robots Market and shows how drivers like pricing, competition, market dynamics, regional growth, gross margin, and consumption will affect the market’s performance. A thorough analysis of the competitive landscape and in-depth company profiles of the top players in the Collaborative Robots Market are included in the study. It provides a summary of precise market data, including production, revenue, market value, volume, market share, and growth rate.
The best investment markers are insights into the most prominent market trends, which help potential participants make decisions even easier. The research aims to discover the numerous growth chances that readers may take into consideration and take advantage of using all the necessary information. The market growth over the coming years can be predicted with greater accuracy by carefully examining the important growth-influencing aspects including pricing, production, profit margins, and value chain analyses.
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Market Summary:
The global collaborative robots market size was valued at USD 979.6 million in 2020 and is projected to grow from USD 1,358.2 million in 2021 to USD 16,387.3 million by 2028, exhibiting a CAGR of 42.7% during the forecast period. The Asia Pacific dominated the collaborative robots market with a share of 23.26% in 2020.
The Collaborative Robots Market has grown significantly due to factors such as increased product demand, an expanding client base, and technological advancements. This report provides a comprehensive overview of the industry, covering market size, trends, key drivers and challenges, competition dynamics, and potential growth opportunities. Recent Industry Developments:
- ABB Ltd. introduced a “”Wizard Easy Programming”” a block-based programming interface to keeping programming its single-arm YuMi cobot more easy. The company also claimed that it aims to make its cobots easier to set up for those who don’t know how to program, decreasing the entrance barrier.
- Universal Robots introduced UR+ application kits to make the deployment of Cobots easier for small, medium, and big businesses, as well as innovative solutions at MODEX 2020 that demonstrated the use of cobots to automate difficult-to-staff operations like palletizing and piece-picking.
Key Players:
- Universal Robots (Headquarter: – Odense, Denmark)
- Rethink Robotics GmbH (Headquarter: – Massachusetts, U.S.)
- Denso Wave Incorporated (Headquarter: – Aichi Prefecture, Japan)
- Fanuc Corporation (Headquarter: – Yamanashi, Japan)
- Bosch Rexroth AG (Headquarter: – Lohr a. Main, Germany)
- ABB (Headquarter: – Zürich, Switzerland)
- Yaskawa America, Inc.- Motoman Robotics Div. (Headquarter: – Fukuoka, Japan)
- AUBO Robotics (Headquarter: – Tennessee, U.S.)
- Stäubli International AG. (Headquarter: – Freienbach, Switzerland)
- K2 Kinetics (Headquarter: – Pennsylvania, U.S.)
- Rethink Robotics (U.S.)
- MABI Robotic (Switzerland)
- FrankaEmika (Germany)
- F&P Robotics (Switzerland)
- Neura Robotics (Germany)
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Market Overview:
- Current Market Trends: Analysis of the latest developments shaping the market landscape.
- Segmentation Analysis: Breakdown of the market by key segments and regional dynamics.
- Pricing Strategy Evaluation: In-depth examination of pricing trends within the industry.
- COVID-19 Impact Assessment: Exploration of how the pandemic has affected market behaviors and trends.
- Market Projections: Forecasting future market growth and potential shifts.
Key Report Highlights:
- Insight into the primary growth drivers and challenges facing the market.
- An extensive review of regional advancements and their implications.
- A compilation of leading industry players and their market positions.
- Strategies employed by significant market participants.
- Updates on recent industry movements, including product launches and mergers.
- Analysis of factors that may restrict growth and the regional market presence affecting trends beyond 2032.
This market research report is meticulously crafted to deliver a thorough understanding of the industry’s trajectory, equipping businesses with the insights necessary for strategic decision-making. The Collaborative Robots Market Report spans over 130+ pages and includes a detailed table of contents featuring figures, tables, graphs, and comprehensive analysis.
Table of Contents:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Drivers
- Restraints
- Opportunities
- Key Insights
- Industry Developments (Mergers, Acquisitions, Partnerships)
- Porter’s Five Forces Analysis
- SWOT Analysis
- Technological Innovations
- Value Chain Analysis
- TOC Continued…
This study presents a detailed view of the market landscape, categorized by sub-regions and countries. It identifies potential profit avenues, alongside market share and growth forecasts for each geographical area.
Segmentation of this report:
Collaborative Robots Market Size, Share & Industry Analysis, By Payload Capacity (Up to 5 Kg, 6-10 Kg, 11 Kg and Above), By Application (Welding, Material Handling, Quality Testing, Painting/Spraying, Assembling, Others), By Industry (Automotive, Electronics & Semi-Conductors, Food & Beverages, Retail, Metal & Machining, Rubber & Plastic, Others), and Regional Forecast, 2021-2028
Collaborative Robots Market Drivers & Restrains:
- Drivers:
- Increasing Demand for Automation: The need for automation to enhance productivity, efficiency, and consistency in manufacturing processes drives the adoption of collaborative robots.
- Cost-Effectiveness: Collaborative robots are often more affordable and flexible than traditional industrial robots, making them accessible for small and medium-sized enterprises (SMEs).
- Advancements in Technology: Innovations in sensor technology, artificial intelligence, and machine learning improve the capabilities and safety features of collaborative robots, boosting market growth.
- Shorter ROI and Flexibility: The ability of cobots to be quickly deployed and reprogrammed for various tasks allows for a shorter return on investment and greater flexibility in production environments.
- Growing Adoption in SMEs: The ease of integration and lower barriers to entry make collaborative robots increasingly popular among SMEs looking to enhance their manufacturing processes without significant upfront costs.
- Restraints:
- Initial Investment Costs: Despite being more cost-effective than traditional robots, the initial investment for collaborative robots can still be significant for some businesses.
- Integration Challenges: Integrating cobots with existing systems and processes can be complex, requiring adjustments and potentially disrupting ongoing operations during implementation.
- Limited Payload and Reach: Collaborative robots typically have limitations in payload capacity and reach compared to traditional industrial robots, which can restrict their application in certain industries or tasks.
- Technical Expertise Requirements: Effective use of collaborative robots requires specialized knowledge and training, which may be a barrier for organizations lacking the necessary technical expertise.
- Technological Obsolescence: Rapid advancements in robotics technology may lead to the obsolescence of existing models, requiring frequent updates or replacements to keep up with new developments and maintain competitive advantage.
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