Collaborative Robot Market Targets USD 20.3 Billion by 2030 with 38.5% CAGR

Richmond, United States, 2024-Apr-12 — /EPR Network/ —

In 2022, the Collaborative Robot Market reached a valuation of USD 1.5 Billion. Projections indicate a substantial increase to USD 20.3 Billion by 2030, reflecting a robust compound annual growth rate (CAGR) of 38.5% during the forecast period spanning from 2023 to 2030.

The Collaborative Robot Market, also known as cobots, is revolutionizing industrial automation by enabling seamless collaboration between humans and machines. Unlike traditional industrial robots confined to cages, collaborative robots work alongside human workers in shared workspaces, enhancing productivity, flexibility, and safety. In this blog, we delve into the significance, innovations, and market dynamics of the Collaborative Robot Market, showcasing its transformative impact across various industries.

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Major Vendors in the Global Collaborative Robot Market:

  • Universal Robots A/S
  • FANUC Corporation
  • ABB
  • Techman Robot Inc
  • Doosan Robotics Inc.
  • Denso Corporation
  • Yaskawa Electric Corporation
  • AUBO Robotics Technology Co., Ltd
  • Rethink Robotics GmbH
  • Omron Adept Technologies, Inc.
  • Franka Emika GmbH
  • Comau S.p.A.
  • F&P Robotics AG
  • Stäubli International AG
  • Bosch Rexroth AG
  • Productive Robotics, LLC
  • Wyzo
  • Neura Robotics GmbH
  • Elephant Robotics
  • Elite Robot
  • Kassow Robots
  • Siasun Robot & Automation Co. Ltd.
  • MIP Robotics
  • Hanwha Corporation
  • Kawasaki Robotics
  • Dobot Robotics
  • Jaka Robotics
  • Others

Key Trends and Innovations:

  • Safety and Risk Mitigation: Collaborative robots are equipped with advanced safety features such as force and torque sensors, collision detection, and speed monitoring, ensuring safe interaction with human operators. Innovations in safety-rated software and hardware enable cobots to dynamically adapt their speed and motion to avoid collisions and minimize the risk of injury.
  • Flexibility and Adaptability: Collaborative robots are designed for easy deployment and reconfiguration, allowing for quick adaptation to changing production needs and tasks. With intuitive programming interfaces and plug-and-play functionality, cobots empower workers to collaborate with robots without specialized training, enabling rapid deployment and scalability in diverse industrial environments.
  • Human-Centric Design: Collaborative robots are characterized by their human-centric design, featuring lightweight and compact form factors, soft and rounded edges, and user-friendly interfaces. These design elements enhance user acceptance and facilitate close collaboration between humans and cobots, promoting ergonomics, efficiency, and worker satisfaction.
  • Applications Across Industries: The Collaborative Robot Market spans a wide range of industries, including manufacturing, logistics, healthcare, agriculture, and hospitality. Cobots perform various tasks such as assembly, pick-and-place, packaging, inspection, and customer service, unlocking new possibilities for automation and efficiency in diverse applications.

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Segmentations Analysis of Collaborative Robot Market: –

  • By Component:
    • Hardware
    • Software
  • By Payload:
    • Up to 5 Kg
    • 5-10 Kg
    • 10-20 Kg
    • More than 20 Kg
  • By Application:
    • Handling
    • Assembling and Disassembling
    • Welding and Soldering
    • Dispensing
    • Processing
    • Others
  • By End-use Industry:
    • Automotive
    • Electronics
    • Metals and Machining
    • Plastics and Polymers
    • Food and Beverages
    • Furniture and Equipment
    • Healthcare
    • Logistics
    • Others
  •  By Region
    • North America
      • U.S.
      • Canada
    • Latin America
      • Brazil
      • Mexico
      • Argentina
      • Colombia
      • Chile
      • Peru
      • Rest of Latin America
    • Europe
      • Germany
      • France
      • Italy
      • Spain
      • U.K.
      • BENELUX
      • CIS & Russia
      • Nordics
      • Austria
      • Poland
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • South Korea
      • India
      • Thailand
      • Indonesia
      • Malaysia
      • Vietnam
      • Australia & New Zealand
      • Rest of Asia Pacific
    • Middle East & Africa
      • Saudi Arabia
      • UAE
      • South Africa
      • Nigeria
      • Egypt
      • Israel
      • Turkey
      • Rest of MEA

 Recent Developments

  • In May 2023, Universal Robots A/S (Denmark) announced a partnership with Denali Advanced Integration, a leading services and global technology integrator. Denali has become Universal Robots’ biggest Certified Solution Partner (CSP). It is now expected to use its unparalleled integration expertise and market reach to bring Universal Robots’ cobot technology to major business across the globe as part of its new Automation-As-A-Service (AaaS) portfolio, which it announced in April. This will offer large scale companies end-to-end integration and service support and corresponds with a growing interest from large businesses in cobot automation.
  • In October 2022, ABB (Switzerland) entered a strategic partnership with US-based startup Scalable Robotics to enhance its user-friendly robotic welding systems portfolio. Through 3D vision and embedded process understanding, the Scalable Robotics technology allows customers to easily program welding robots without coding.

Market Dynamics and Opportunities:

The Collaborative Robot Market is driven by increasing demand for flexible automation solutions, labor shortages, and the need for improved workplace safety and efficiency. Opportunities for market growth include expanding applications in small and medium-sized enterprises (SMEs), collaborative robotics-as-a-service (CRaaS) models, and integration with emerging technologies such as artificial intelligence (AI) and Internet of Things (IoT) for enhanced functionality and intelligence.

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In conclusion, the Collaborative Robot Market is reshaping the future of industrial automation, fostering collaboration between humans and machines to drive productivity, safety, and innovation. By embracing collaborative robots, industries can optimize their operations, streamline workflows, and empower workers to focus on value-added tasks, ultimately enhancing competitiveness and sustainability. As the demand for collaborative robotics continues to grow, fueled by technological advancements and evolving market needs, the Collaborative Robot Market remains at the forefront of transformative change, shaping the future of work and production.

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