Collaborative Robots Market Set to Reach USD 15.2 Billion by 2024

New York, USA, 2018-Nov-14 — /EPR Network/ —The market report published by Goldstein Research on global collaborative robots market shows the size of collaborative robots market expected to reach USD 15.2 billion by 2024 from USD 0.79 billion in 2016, growing at a CAGR of 44.72% during the forecast period (2016-2024). Total collaborative robots accounts accounted for 3% of the total robot units sold in 2015 and by the end of 2024 total sales of collaborative robots is anticipated to reach 400.0 million units. Further, Global collaborative robots market segmentation has been done on the basis of pay-load capacity, application, end user and geography. Based on applications, automotive industry accounted for highest market share of +45.0% in 2016 in the application of collaborative robots, followed by electronics industry.

Geographically, global collaborative robots industry is dominated by Europe region, followed by North America and Asia Pacific market share. Rising penetration of industrial automation in Asia Pacific region is leading the growth prospects of collaborative robots market in the region.

Browse Full Report: https://www.goldsteinresearch.com/report/global-collaborative-robots-market-outlook-2024-global-opportunity-and-demand-analysis-market-forecast-2016-2024

Market Segmentation

Global Collaborative Robots Market can be segmented as follows:

Based on Pay Load Capacity

  • Up to 5 Kg
  • Up to 10 Kg
  • Above 10 Kg

Based on Application

  • Handling Robots
  • Packaging Robots
  • Pick and Place Robots
  • Quality Testing Robots
  • Welding Robots
  • Others( Gluing, Machine Tending) Robots

Based on End-User

  • Automotive
  • Metal and Machining
  • Furniture and Home Equipment
  • Food and Beverages
  • Electronics & Technology
  • Plastic and Polymers
  • Others (Pharma& Chemistry)

By Region

  • North America
  • Europe
  • Middle East and Africa
  • Latin America
  • Asia Pacific
  • Rest of the World

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“Global Collaborative Robots Market Outlook 2024” contains detailed overview of the global collaborative robots market. On the basis of our in-depth analysis, market can be segmented in terms of market segmentation by pay-load capacity, application and end user.

Key players discussed in Global Collaborative Robots Market Report are:

  • Robert Bosch GmbH
  • ABB Ltd.
  • KUKA AG
  • Universal Robots
  • FANUC Corporation

Further, the Global Cobots Market Size Report includes competitive outlook of some of the major players, business strategies, revenue distribution, products, services and industries catered and financial analysis of the company. The report also highlights the market dynamics (growth drivers, restraints, trends and opportunities), market size, market share and Y-O-Y growth rate of current and forecast period. The SWOT & PESTLE analysis of the market is also discussed for the target and potential markets.

Global collaborative robots market is further bifurcated in various segments with separate market analysis mentioned below:

 

Global Packaging Robots Market Analysis

In order to make the process of packaging faster and more precise, manufacturers are using packaging robots for packaging operations. The market of packaging industry globally covers approximately USD 960 billion in 2016 which include manufacturing industries, food and beverages industries, textile industries, etc in which packaging robots are used in almost more than 60% of industries now a days. Global packaging robots market is anticipated to reach USD 4.70 billion by 2024, growing at a CAGR of 14% over the forecast period i.e. 2016-2024.

Waste Sorting Robots Market

Waste sorting is done by robotic arm that detect, picks and places it separately using the sensor array. For effective implementation of waste management strategies, robotic has a leading role in fastening the process for further recycling and reducing the cost. Global waste sorting robots market size is set to reach USD 12.24 billion by 2024 growing at a CAGR of 16.4% over the forecast years.

Warehouse Robotics Market

Warehouse robotics technology boosted up, has not made a remarkable impact on logistics industry. But, in the past few years, technical advancement in robotics have seen many changes and advanced robots are prepared to enter warehouses. More than 80% of warehouses across the globe are manually operated with no support of automation. Warehouse robotics market is anticipated to reach USD 22.1 billion by the end of 2024, expanding at a compound annual growth rate of 7.4% over the forecast period i.e. 2016-2024.

Autonomous Delivery Robots Market

Robotics technology is one of the fastest emerging technologies that have potential to revolutionize the delivery system in various industries. Global autonomous delivery robots market is driving on the back of emerging technologies such as IoT (Internet of Things) and artificial intelligence technology. Implementation of artificial intelligence enables the autonomous delivery robots to interact with surrounding environment and to learn from their surroundings as well. Autonomous delivery robots just marked their presence in various end-use industries and expected to grow at a CAGR of 14.5% over the forecast period owing to significant adoption rate in Europe and North America.

Asia Pacific Automotive Robotics Market

High costs related to the future-generation automotive technology, skilled labors and safety systems fuel the demand for automotive robots to accommodate changeovers in product. According to international federation of robotics Japan has the highest robot density with 1,276 robot units per 10,000 employees, followed by republic of Korea and USA both with 1,218 units. Asia Pacific automotive robotics market accounted for USD 2.7 billion in 2016 and the market is expected to reach USD 5.8 billion by the end of 2024. Further, The market for North America automotive robotics market was valued at USD 6.7 billion for 2016. It is expected to register a CAGR of 9.7% during the forecast period.

Milking Robots Market

Milking robots are the automatic milking systems installed by dairy farms by which labor cost is reduced, quality is enhanced and yield of the milking process is increased. Milking robots to reach 4.20 thousand units by the end of the forecast period i.e. 2024. Global milking robots market is anticipated to expand at a green CAGR of 7.85% during the forecast period i.e. 2016-2024 and expected to be a billion dollar industry over the next five to six years.

Refurbished Robots Market 

Global refurbished robots market is growing significantly parallel to the robotics using industries such as healthcare, manufacturing, packaging, and others. To bridge the skills gap, use of robotics has been increasing worldwide, therefore in 2016, annual sales of robots increased by 16% to 294,312 units. Refurbished robots market to grow parallel to the industrial robots market which is expected to reach USD 34 billion by 2024 from USD 13.1 billion sales in 2016, growing at a CAGR of 12.6% over the forecast years.

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