Asia Pacific is the fastest growing region in the global advanced collaborative robots market, and is expected to continue this trend due to rapid growth of industrialization and urbanization. Europe accounts the largest share of the market with 34.3% followed by North America with 30.9%, in the year 2016.
Global Collaborative Robots Market Report, published by Variant Market Research, forecast that the global market is expected to reach $1.3 Billion by 2024 from $0.1 Billion in 2016, growing at a CAGR of 33.2% from 2016 to 2024.
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Collaborative robots are intended to support humans or work along with humans. These co-bots are made by combination of speed, precision, and flexibility of machine.
Automotive and electronics sectors are greatly benefited by these co-bots.
These light-weight collaborative robots are affordable and easily trained and can perform short runs, repetitive & boring jobs continuously.
High technological advancement in diverse sectors drives the market
The global collaborative robots market is driven by adoption and high advancement in technology in diverse sectors. Moreover, increasing use of these robots in sectors such as automotive, electronics, metal and machining, food and beverages, plastic and polymers, and others also contribute in collaborative robots market growth.
High potential for robot installations in many countries and demand for high-payload-capacity co-bots will definitely create numerous growth opportunities in the colloabotarive robots market future.
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The global collaborative robots market is classified on the basis of payload, application, industry, and geography. The segmentation by payload includes up to 5kg, 6-10kg and above 10kg.
On the basis of applications, the market consists of packaging, assembly, handling, machine tending, quality testing, welding and others. By industry the market is further categorized into aerospace, automotive, food & beverage, plastic & polymers, metal & machining, and others.
By geography, the market is categorized into North America, Europe, Asia Pacific, and Rest of the World (RoW).
Up to 10 Kg dominated the payload segment
Up to 10Kg is estimated to have the largest share in the market with around half of the total share in the year 2016. This high growth is mainly attributed to the expected demand for high-payload-capacity in industries such as collaborative robots automotive, furniture and equipment, and metals and machining.
Assembly segment helped to drive the collaborative robots market in applications
Assembly accounted for the major market share within application segment, in the year 2016, driven by high flexibility of these robots to perform application-specific tasks by easy re-programming and changing end effectors.
Aerospace occupied the largest share in industry segment
In 2016, aerospace held about one fourth of the total collaborative market share, followed by automotive. Due to their assiduous precision and efficiency, these robotic systems have the potential to revolutionize aerospace collaborative robots in manufacturing.
Europe dominated the geography segment
Europe dominated the market with maximum share of 34.3% in the year 2016, due to rapid growth of urbanization and industrialization in U.S. This growth will definitely influence the colloborative robots market size.
Additionally, Asia-Pacific region is growing rapidly and is expected to hold the global collaborative robots market trend.
Kawasaki Heavy Industries, Ltd. are going to launch two new robots i.e RS007L & RS007N on october & december 2017, these robots are general purpose small to medium type with a payload capacity of 7 Kg.
The key players profiled in the market include, Kawasaki Heavy Industries, Ltd., Universal Robots A/S, F&P Robotics AG, Precise Automation Inc., Rethink Robotics, Energid Technologies Corporation, Robert Bosch GmbH, Energid Technologies Corporation, ABB Ltd., Energid Technologies Corporation, and KUKA AG among others.
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Scope of Collaborative Robots Market
- up to 5kg
- above 10kg
- Quality Testing
- Machine Tending
- Plastic & Polymers
- Food & Beverage
- Metal & Machining
- North America
- Rest of North America
- Rest of RoW
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