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Collaborative Robots Market Worth $10.1 Billion by 2025
May 28, 2019 | Grand View Research, Inc.Estimated reading time: 2 minutes
The global collaborative robots market size is expected to reach $10.14 billion by 2025, according to a new study by Grand View Research, Inc. it is anticipated to expand at a CAGR of 44.5% during the forecast period. Increasing investments in automation of manufacturing processes is boosting the demand for collaborative robots or cobots.
The research and development environments have been involved in the use of robots possessing embedded torque and force sensing technologies over the decades which in turn is increasing the implementation of collaborative robots in automation. Despite having a long history of using robots for several manufacturing purposes such as on the assembly lines and welding, the companies operating in automotive industry that are new to automation, might face challenges with the programming robots. The need for user-friendly robots that do not require highly skilled workforce to deploy and carry operations as well as are low maintenance, has paved the way for developing a common software platform. This platform enabled the integration of robots, their motion controlling and drives along with the generation of an interface that eases the programming of such robots
The demand arising from the automotive industrial customers, engineers, and researchers has initiated the development of collaborative robots. Moreover, these robots assist the packaging market and the industries targeting to enhance their production rates. Robots are currently working in several industries and are on the verge of impacting the logistics industry overcoming the challenges such as complicated work processes, handling numerous tasks in several number of combinations all in the compact spaces. With the development of next-generation of collaborative robots that are capable of seeing, moving, and reacting to the environment can precisely work in collaboration with the humans to increase the demand for cobots across several industry verticals along with logistics. Hence, increasing demand from logistics is anticipated to drive the overall collaborative robots market.
Further key findings from the report suggest:
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High demand for collaborative robots in various industrial applications is attributed to the factors such as the high payload carrying capacity of cobots. As the cobots operate as an assisting device to human and assist increasing the efficiency, along with the quality of work done
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Various countries are intensely reviving the electronics and consumer goods industries, in turn, catalyzing the demand for cobots. In addition, the small and medium enterprises usually emphasize on higher return on investment amenities. Thus, the affordable cobots are effectively grabbing the attention of such SMEs and driving the overall market at a considerable pace
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Europe led the collaborative robots market in 2018 and accounted for over 37% of the global market share
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Key market players include ABB Group; DENSO Robotics; EPSON Robots; Energid Technologies Corporation; F&P Robotics AG; Fanuc Corporation; KUKA AG; MRK-Systeme GmbH; Precise Automation, Inc.; Rethink Robotics, Inc.; Robert Bosch GmbH; Universal Robots A/S; Yaskawa Electric Corporation; MABI AG; Techman Robot by Quanta Storage, Inc.; Franka Emika GmbH; AUBO Robotics Inc.; and Comau S.p.A.
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