Collaborative Robot Market by Payload (Up to 5 kg, Up to 10 kg, Above 10 kg); by Component (Hardware and Software); by Application (Assembling & Disassembling, Welding and Soldering, Dispensing, Processing, Inspection and Quality Testing and Others); by End-Use Vertical (Automotive, Electronics, Metals and Machining, Plastics and Polymers, Food & Beverages, Healthcare and Others), by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa)- Global Forecast 2021-2027

Date : Aug 2021

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Report ID : 298

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Category : Semiconductor & Electronics

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Report Format:  PDF EXCEL PPT WORD

The global collaborative robot industry was estimated at USD 725.6 million in 2020, and it is expected to reach USD 11,684.8 million by 2027, registering a CAGR of 41.8%, during 2021-2027

Collaborative Robots commonly known as Cobots are designed to share a workspace with humans which are making automation easier for businesses of all sizes. The increasing return on investment and the declining cost offered by the collaborative robots are the major factors driving the growth of the global collaborative robot market. Collaborative robots perform all sorts of high-precision tasks such as assembling & disassembling, welding and soldering, dispensing, processing, inspection, and quality testing, and many more. Owing to these functions, collaborative robots have wide application in several industries such as automotive, food & beverages, healthcare, and many more.

Collaborative Robot Market

The rise in the adoption of collaborative robots by these industries to improve their efficiency is another factor driving the global collaborative robot market. For instance, Atria Scandinavia, a Swedish food production firm specialized in producing vegetarian products and high-quality gourmet, uses UR5 cobots to reduce the time needed in their small production facility produces. Due to the use of UR5 cobots in their production process, every production line in the company is now able to prepare on average 228 items per hour for delivery.

Moreover, rapid technological advancement in collaborative robots such as hand guiding, safety monitored stop, separation, and speed monitoring, and force & power limiting is positively driving the global collaborative robot market. For instance, FANUC’s CR Series Cobots have stop sensor technology which allows them to safely work around the people without the need for safety fences. In addition, the company’s Hand Guidance feature helps in teaching Cobots by enabling them to lead paths and use it to lift heavy objects manually. In addition, collaborative robots have the ability to adapt to the changing requirements as they can be easily re-deployed and reprogrammed. This feature has helped several SMEs and large manufacturing companies to reduce the production cost and improve the ergonomic work conditions of the workers.

Impact of COVID-19 in the Global Collaborative Robot Market

The outbreak of the Covid-19 pandemic has impacted the economies on a global level. Therefore, enterprises are now reassessing their business models to improve their efficiency in the post covid period. Thereby, many companies are now rapidly adopting robots in their day-day operations as the pandemic has restricted the use of a large amount of human labor workforce. The adoption of robotics and automation is therefore playing an important role in many businesses by safeguarding the people. Moreover, the Covid-19 outbreak has also resulted in an increasing need for collaborative robots in the healthcare industry as they are playing a vital role in disinfecting hospitals. These factors are positively driving the global collaborative robot market.

The Global Collaborative Robot Market Segmentation:

  • By Payload
    • Up to 5kg
    • Up to 10kg
    • Above 10kg
  • By Component
    • Hardware 
      • Sensors
      • Robotic Arms
      • Motors
      • Controllers
      • Others
    • Software
  • By Application
    • Assembling and Disassembling
    • Welding and Soldering
    • Dispensing
    • Processing
    • Inspection and Quality Testing
    • Others
  • By End-Use Vertical
    • Automotive
    • Electronics
    • Metals and Machining
    • Plastics and Polymers
    • Food & Beverages
    • Healthcare
    • Others
  • By Region
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa

Based on Application, the solution segment has shown the most lucrative growth in the Global Collaborative Robot Market in 2020 and is expected to exhibit similar trends during the forecast period

On the basis of application, the global collaborative robot market is segmented as Assembling & Disassembling, Welding and Soldering, Dispensing Processing, Inspection, and Quality Testing, and others. Among these, the assembling & dissembling segment has shown the most lucrative growth in the collaborative robot market in 2020 and is expected to exhibit similar trends during the forecast period. Collaborative robots are widely used for various assembling and dissembling applications in both small and large workpieces. In smaller workpieces, collaborative robots help in providing better repeatability in comparison to traditional handheld screw driving systems. They provide the right depth and torque along with the ability to work with workers which in turn speeds up the assembling and dissembling process. However, in large-sized workpieces, collaborative robots are used for nut fastening. Due to these functions, they are majorly adopted by several industries and thereby driving the collaborative robot market growth. For instance, Universal Robots, a Danish manufacturer of smaller flexible industrial collaborative robot arms, have designed collaborative robots to specifically work along with humans and relieve them from difficult and tedious assembly jobs such as drilling screws, welding small pieces, and many more.

Based on the End-Use Vertical, on Automotive segment has dominated the Global Collaborative Robot Market and is expected to hold a large share in the forecast period

Based on the End-Use Vertical, the global collaborative robot market is segmented as Automotive, Electronics, Metals and Machining, Plastics and Polymers, Food & Beverages, Healthcare, and Others. Among these, the automotive industry has dominated the collaborative robot market and is expected to hold the same position during the forecast period. This is due to the rising demand for Cobots by key car manufacturers and OEMs in this industry. The increasing demand for customization in the cars by several customers has forced manufacturers to be always prepared for accepting the changes in their production layout and addressing according to the customer needs. Therefore, along with the efficiency and precision of traditional industrial robots, the need for flexibility has also become a major factor influencing the manufacturing process. Collaborative robots are utilized in performing these ergonomically unfavorable tasks in the automotive industry. Moreover, due to the large-scale operations and manufacturing ecosystem of the industry, it is expected to hold the largest share in the collaborative robot market during the forecast period.

Based on region, North America dominated the Global Collaborative Robot Market in 2020 and is expected to show similar trends in the forecast period

Based on the region, the global collaborative robot market is segmented as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among these, North America dominated the Collaborative Robot Market in 2020 and is expected to show similar trends in the forecast period. This is due to the manufacturing industries in this region, particularly in the United States are currently undergoing the trend to automate their production processes. This will however result in strengthening the US industries in both international as well as domestic markets. In addition, the government in this region is also offering favorable support for the adoption and development of advanced technologies in the robotics market by taking several initiatives. For instance, In November 2016, the National Science Foundation (NSF) launched National Robotics Initiative to strengthen the capabilities of the robotics research community in the U.S. and foster innovation and workforce development, which will thereby increase the demand for collaborative robots in the region.

The unique insights provided by this report also includes the following:

  • In-depth Value Chain Analysis
  • Opportunity Mapping
  • Sector Snapshot
  • Key Players Positioning Matrix
  • Regulatory Scenario
  • Strategies Adopted-Benchmarking Heat Map
  • Market Trends
  • Covid-19 Impact Analysis
  • Product Comparison
  • Pre & Post COVID 19 Impacts on Global Collaborative Robot Market
  • Competitive Landscape

The report also provides an in-depth analysis of the global collaborative robot market dynamics such as drivers, restraints opportunities, and challenges

Drivers:

  • The increasing return on investment and the declining cost of collaborative robot
  • Rapid technological advancement

Restraints:

  • Rising cybersecurity threats
  • Safety standards issues
  • Lack of a skilled workforce

The report also provides an in-depth analysis of key market trends:

  • The rising adoption of collaborative robots in the banking & financial sector is positively driving the global collaborative robot market. This sector uses cobots to perform simple and repetitive tasks such as cashier functions and providing guidance which is increasing the need of cobots rapidly. For instance, in May 2018, the partnership of Universal Robots with G+D (Giesecke+Devrient) a German bank cash management firm has enabled to introduce a holistic approach in note counting by reducing the pilferage in the cash management system with the use of cobots.
  • The rising use of machines in the agricultural sector to perform several activities such as forming a prototype soil compaction mapping system, preparing the ground for the crops, and many other is expected the demand for collaborative robots.

The report also provides an in-depth analysis of recent News Developments and Investments

  • In April 2020 – ABB Ltd, a Swedish–Swiss multinational corporation operating mainly in robotics has launched its Wizard Easy Programming software for its IRB 1100 industrial robot. This allows first-time users to introduce robotic automation into their production lines by easily installing cobots without programming expertise. Also, it helps reduce the barrier to entry.
  • In September 2019, Universal Robots, a Danish manufacturer of smaller flexible industrial collaborative robot arms launched UR16e which is a new collaborative robot model that is well suited for high-payload tasks, like heavy machine tending, heavy material handling, packaging & palletizing, and autonomous mobile robots (AMRs).

Collaborative Robot Market Company Profiles and Competitive Intelligence

The key players operating in the market are :

  • 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.
  • Comau S.p.A.

Frequently Asked Questions (FAQs)

Who are the key players in the Collaborative Robot industry?

A few key players in the Collaborative Robot Market industry 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. among many others.

What region has the largest share in Collaborative Robot Market?

In the base year 2020, the North American region accounted for the largest share in the Collaborative Robot Market.

What is the estimated market growth rate of Collaborative Robot Market industry?

The Collaborative Robot Market is estimated to grow at a compound annual growth rate (CAGR) of 41.8% during 2021-2027.

How big is the Global Collaborative Robot Market?

The Global Collaborative Robot Market was valued at USD 725.6 million in 2020, and it is expected to reach USD 11,684.8 million by 2027

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Table of Contents Collaborative Robot Market:

Section 1: Introduction

  • Engagement Objective
  • Scope of the Study: Segmentation 
  • Timeframe, Currency, and Limitations

Section 2: Research Methodology

  • 3P Research Approach
  • Market Sizing Approach
  • Data Sources
  • Primary Research Coverage

Section 3: Executive Summary

  • Global Collaborative Robot Market Summary
  • Market Snapshot
  • Country Snapshot

Section 4: Premium Insights

  • Key Trend Analysis
  • Major Investment Scenario
  • New Revenue Pockets
  • Pain Point Analysis
  • Price Trend Analysis
  • Strategies Adopted-Benchmarking Heat Map
  • Business Recommendations
    • Opportunity Mapping
  • PESTEL Analysis
  • Market Positioning Matrix

Section 5: Market Overview & Competitive Landscape

  • Competitive Landscape
  • Investment Scenario by Key Players
  • Key Player Overview
  • Product comparison
  • Competitive Benchmarking
  • Player Wise Geographic Presence
  • Player Wise Target Customer Segment
  • Recent News
    • Product Launches & upgrades
    • R&D / Innovation
    • Merger & Acquisition
    • JV & Partnership
    • Recognition and others

Section 6: Market Size and Share Analysis

  • Market Size & Historic Growth
  • Market Size by Player Category
  • Market Size by Payload
    • Up to 5kg
    • Up to 10kg
    • Above 10kg
  • Market Size by Component
    • Hardware
      • Sensors
      • Robotic Arms
      • Motors
      • Controllers
      • Others
    • Software
  • Market Size by Application
    • Assembling and Disassembling
    • Welding and Soldering
    • Dispensing
    • Processing
    • Inspection and Quality Testing
    • Others
  • Market Size by End-Use Vertical
    • Automotive
    • Electronics
    • Metals and Machining
    • Plastics and Polymers
    • Food & Beverages
    • Healthcare
    • Others

Section 7: Market Dynamics

  • DROC Impact Analysis
  • Market Drivers
  • Market Restraints
  • Market Opportunities

Section 8: Future Forecast & Impact of COVID-19

  • Key Drivers & Anticipated Revival Period
  • Key Trends Analysis
  • Impact on End-user Industry
  • Opportunity Analysis
  • Pre & Post COVID 19 Impact
  • End-Use Specific COVID-19 Impact
  • Key Factor Analysis

Section 9: Regional Market Size and Share Analysis

  • North America
    • Market Overview and Analysis
    • Key Country Analysis
      • US
      • Canada
  • Europe
    • Market Overview and Analysis
    • Key Country Analysis
      • Germany
      • UK
      • France
      • Italy
      • Spain
      • Rest of Europe
  • Asia Pacific
    • Market Overview and Analysis
    • Key Country Analysis
      • China
      • India
      • Japan
      • South Korea
      • Rest Of APAC
  • Latin America
    • Market Overview and Analysis
    • Key Country Analysis
      • Brazil
      • Argentina
      • Rest of LATAM
  • Middle East & Africa
    • Market Overview and Analysis
    • Key Country Analysis
      • GCC
      • Rest of MEA

Section 10: Company Profile

  • 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.

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