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New report shares details about the collaborative robots market

New report shares details about the collaborative robots market

Market is Highly growing in Global Market with Good Revenue and Know More

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Scope of the Report:

The global Collaborative Robots Market size was valued at USD 112.2 million in 2015 owing to their higher return on investment and low price and are considered to be the major factors for driving the market growth over the forecast period. The low price of co-robots has attracted the small and medium-sized enterprises, which has further contributed to the increased industry share.

The increasing demand for performing tasks requiring higher payload capacity is expected to contribute to the industry demand. Furthermore, co-robots are designed with advanced sensors, software, and EOATs that help in avoiding employees from being injured.

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The ability of cobots to work effectively with employees in an uncaged environment has led to an increased installation in the industry.

The growth of cobots is continuously fueled by the growth of three markets, which include small to medium manufacturers, electronic manufacturing, and manufacturers supporting agile production methodologies. Additionally, the increasing adoption of automation in the manufacturing process is offering huge economic benefits to production lines by easing difficult human tasks.

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Cobots with up to 5kg payload capacity held the largest share in 2015, accounting for over 40%. These robots are flexible and lightweight and have the ability to optimize low-weight collaborative processes such as placing, picking, and testing.

On the other hand, cobots above 10kg are expected to witness a significant growth owing to their capability of handling bigger tasks requiring precision and reliability and collaborating heavier-weight processes. The robots are anticipated to witness enormous growth with a CAGR of over 50% over the forecast period.

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The application of cobots is segregated into assembly, pick & place, handling, packaging, quality testing, machine testing, gluing & welding. The assembly application is expected to witness a steady growth over the forecast period owing to the ability of combining both repetitive and easy work along with more complex assembly processes.

Pick and place robots are used for increasing the accuracy and reducing the shrinkage as they can perform the task repetitively and autonomously handle the inventory. The robots are smaller in size and lightweight and can be deployed in the applications in tight space conditions.

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Based on the application in various industries, collaborative robots are segmented into automotive, food & beverage, furniture & equipment, plastic & polymers, metal & machinery, electronics, and pharmaceuticals industries. The automotive industry accounted for a market share of over 20% in 2015 and is expected to be a major revenue generating segment over the forecast period.

OEMs and tier suppliers operating in the automotive industry are increasingly deploying cobots for various applications, which include pick & place, handling, and assembly. Some of the favorable factors associated with cobots, such as saving on cost production downtime and reduction in the floor space needed are expected to enhance the industry share over the forecast period.

The increasing trend of automating the manufacturing process of electronics components for better flexibility and enhanced precision is projected to increase the share for cobots. Furthermore, the growing demand for electronics manufacturers to automate various CNC processes, such as inserting parts into injection moldings, creating circuit boards, and metal stamping, is expected to further impact the market in a positive manner.

 

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