[194 Pages Report] The Collaborative Robots Market size was estimated at USD 2.38 billion in 2023 and expected to reach USD 3.43 billion in 2024, at a CAGR 46.37% to reach USD 34.36 billion by 2030.
Collaborative robots, commonly known as cobots, are engineered to work alongside human beings, performing tasks that range from simple, repetitive activities to complex processes. Unlike conventional industrial robots that operate within confined spaces, cobots are built with safety features that allow them to sense and respond to their human counterparts. This enables a synergistic relationship where humans and robots can share workspace and tasks without the risk of injury. The applications for collaborative robots are widespread and diverse, including but not limited to assembly, packaging, quality inspection, material handling, machine tending, and laboratory work. The end-use industries for cobots are similarly varied, encompassing automotive, electronics, metals and machining, plastics and polymer, food and beverage, healthcare, and others. The scope of the market extends globally, with a significant presence in both mature and emerging industrial nations. Growth in the collaborative robot market is largely driven by the robot's ability to increase efficiency and reduce operational costs. Other factors include growing demand attributed to automation, higher throughput, and better accuracy, the increasing penchant of industries toward automation and mobile cobots, adoption among SMEs due to low price coupled with high RoI, and rising integration of AI and improvement in the Machine Interface (HMI) to imitate human behavior. However, the adoption of collaborative robots is hindered by capability limitations related to safety, faster cycle time and repeatability, capital-intensive collaborative robots, issues related to massive deployment, and the development of better decision-making to work safely with humans. On the other hand, recent opportunities in the cobot market include expansion into small and medium-sized enterprises (SMEs), which was previously an untouched segment due to financial constraints. Technological innovations in the next-generation cobots and increasing adoption in manufacturing and industrial settings present potential opportunities for the market to grow in the coming years.
North America, particularly the United States and Canada, is undergoing a robust expansion in the collaborative robots market due to the adoption of advanced manufacturing practices and industrial automation across sectors such as automotive, electronics, and healthcare. With a high concentration of cobot manufacturers and technology embracement, the North American market is expected to maintain a leadership position. In South America, countries such as Brazil and Argentina are at the forefront of the adoption of cobots in the region, driven by the need to improve manufacturing efficiencies and reduce operational costs. The automotive sector shows considerable interest, while small and medium-sized enterprises gradually integrate cobots into their production lines. The EU's collaborative robot market is mature, with significant adoption across Germany, Sweden, and Denmark. The EU has active government policies facilitating innovation, including funding programs such as Horizon Europe. There is a strong emphasis on worker safety and ergonomic assistance, propelling the use of cobots. Furthermore, the presence of pioneering cobot companies and research institutions in Europe contributes significantly to the region's market growth. The Middle East and Africa (MEA) exhibit a slower uptake in collaborative robots as industries are in the early stages of automation. However, there is an emerging interest, particularly in the Gulf Cooperation Council (GCC) countries, due to a strategic shift towards non-oil industries and the adoption of smart manufacturing processes. The APAC region is anticipated to experience a high growth rate in the collaborative robots market globally. This surge is led by China, Japan, South Korea, and Taiwan, with a high concentration of manufacturing and electronics industries. The region benefits from the availability of advanced technological infrastructure, a growing economy, and supportive government policies. Increasing labor costs and the pursuit to enhance productivity also drive the acceptance of cobots across various industry verticals. India shows growth potential with its 'Make in India' initiative, which aims to elevate the manufacturing sector.
Hand guiding is a function that allows users to directly interact with a cobot by guiding its movements with their hands. Cobots equipped with hand guiding are often used in environments where precision and flexibility are required. This function is ideal for short-run production tasks, setups, or when direct human intervention is necessary. It is generally employed in operations where teaching the robot through manual manipulation is preferred over complex programming. Power and force-limiting robots are designed to work alongside humans without causing injury in case of accidental contact. This feature is critical in industries where cobots and humans share workspace for tasks such as machine tending, packaging, and quality inspection. It is preferred in scenarios with close human-robot collaboration without physical barriers. Industries with a heightened focus on worker safety often opt for this type of cobot. The safety-rated monitored stop function allows cobots to execute an emergency stop when a human enters the predefined safety zone. It is particularly suitable for applications where the cobot operates at high speed or carries heavy loads within a designated workspace. Speed reduction is triggered when a human approaches the cobot's operation area, and the cobot will slow down to minimize the risk of accidents. Separation monitoring involves maintaining a safe distance between the cobot and human employees, halting the robot's operation if this distance is breached. It is favored in dynamic environments where workers frequently enter and exit the cobot's working area, ensuring high-throughput productivity without compromising safety.
The hardware segment encompasses the physical components of collaborative robots, such as robotic arms, end effectors, sensors, drives, and controllers. Preferred hardware selection is predicated on the application's demand for precision, load capacity, reach, and robustness. Companies seek durable, reliable, and compliant hardware for safety and operational efficiency. Companies offer a range of end effectors that include grippers and tool changers tailored for precise manipulation and adaptive handling. Sensor technology is vital for the interactive nature of cobots. Accurate and responsive drives are crucial; providers offer high-quality drives that ensure the smooth operation of cobots. Efficient controllers optimize cobot movements for complex tasks. Software has a pivotal role in the operation of collaborative robots, offering user interface, programming capabilities, motion control, and integration with other systems. Software preference depends on the user's requirement for ease of programming, integration capacity with other factory systems, and the ability to upgrade and scale operations. While hardware and software are essential for cobot functionality, software increasingly drives value creation due to advancements in technologies, including machine learning and artificial intelligence. However, it would only be actionable with the physical capabilities provided by the hardware.
The automotive sector is a pioneer in adopting collaborative robots, mainly for repetitive tasks, including assembly, machine tending, welding, and painting. These cobots work alongside humans to improve production efficiency and reduce strain on workers. Need-based preferences in this sector prioritize precision, consistency, and the ability to switch between tasks easily without significant downtime. The electronics industry employs cobots for intricate assembly tasks, testing, and handling delicate components. Speed, precision, and static and dust control are critical for manufacturers. Cobots with small footprints are also preferred due to limited space. In the food and beverage sector, cobots are increasingly found in packaging, palletizing, and quality inspection. Hygiene and the ability to work in cold and moisture-rich environments are necessary for cobots in this industry. They also help companies to comply with stringent food safety regulations. Cobots in the furniture and equipment field assist in a variety of tasks, such as CNC machine tending, sanding, and assembly. They need to be flexible enough to handle various sizes and shapes. Adaptability and ease of programming are preferred to cater to small batch runs and customization trends. In healthcare, cobots assist in laboratories, pharmacies, and even surgical procedures, offering precision and assistance without fatigue. They must meet high sterilization standards and often require a delicate touch to handle sensitive instruments and specimens. Cobots in metals and machining are used for tasks such as welding, material removal, and assembly. They need to be robust and handle the heavy payload, emphasizing safety, as they often work close to operators. The performance in harsh environments and the integration with existing machinery are also crucial. The plastics and polymers industry uses cobots primarily for pick-and-place, injection molding processes, and quality control. These cobots need to withstand high temperatures and aggressive chemicals. Fast cycle times and repeatability are also valued for high-volume production.
Collaborative robots are increasingly employed in assembly applications where precision, repetition, and reliability are paramount. This segment includes the automotive, electronics, and consumer goods industries, where cobots work alongside humans to perform tasks such as screw driving, inserting components, and assembling complex items. Gluing and welding operations require precision and consistency to ensure strong bonds and joints. Cobots are sought after for their steady hands in applications such as coating, sealing, and joining different materials. Industries such as automotive, aerospace, and manufacturing of large structures often employ cobots. In machine tending, cobots load and unload machines such as CNC machines, injection molding machines, and presses. This application segment requires cobots to be highly compatible with various machinery and capable of operating with precision and safety. Industries favoring cobots for machine tending include metalworking, plastics, and foundries due to the reduction of idle times and enhancement of production rates. Material handling involves the movement, protection, storage, and control of materials throughout manufacturing. Cobots are equipped to handle materials of various sizes and weights, improving efficiency and workplace safety. They are popular in logistics, warehousing, and distribution centers. Packaging and palletizing demand high endurance and speed, especially in industries such as food & beverage, pharmaceuticals, and consumer goods. Cobots are instrumental for these applications because they can work long hours without fatigue and ensure product safety. Pick and place tasks are repetitive yet require flexibility and speed. Industries with high throughput, such as electronics, food processing, and pharmaceuticals, adopt cobots for these tasks to improve productivity and reduce human error. Ensuring high-quality standards, cobots are utilized for precision tasks such as inspection, testing, and measurement. Cobots' consistency and ability to integrate with sensors and cameras make them ideal for industries, including automotive, aerospace, and semiconductors.
The market dynamics represent an ever-changing landscape of the Collaborative Robots Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
The market disruption analysis delves into the core elements associated with market-influencing changes, including breakthrough technological advancements that introduce novel features, integration capabilities, regulatory shifts that could drive or restrain market growth, and the emergence of innovative market players challenging traditional paradigms. This analysis facilitates a competitive advantage by preparing players in the Collaborative Robots Market to pre-emptively adapt to these market-influencing changes, enhances risk management by early identification of threats, informs calculated investment decisions, and drives innovation toward areas with the highest demand in the Collaborative Robots Market.
The porter's five forces analysis offers a simple and powerful tool for understanding, identifying, and analyzing the position, situation, and power of the businesses in the Collaborative Robots Market. This model is helpful for companies to understand the strength of their current competitive position and the position they are considering repositioning into. With a clear understanding of where power lies, businesses can take advantage of a situation of strength, improve weaknesses, and avoid taking wrong steps. The tool identifies whether new products, services, or companies have the potential to be profitable. In addition, it can be very informative when used to understand the balance of power in exceptional use cases.
The value chain of the Collaborative Robots Market encompasses all intermediate value addition activities, including raw materials used, product inception, and final delivery, aiding in identifying competitive advantages and improvement areas. Critical path analysis of the <> market identifies task sequences crucial for timely project completion, aiding resource allocation and bottleneck identification. Value chain and critical path analysis methods optimize efficiency, improve quality, enhance competitiveness, and increase profitability. Value chain analysis targets production inefficiencies, and critical path analysis ensures project timeliness. These analyses facilitate businesses in making informed decisions, responding to market demands swiftly, and achieving sustainable growth by optimizing operations and maximizing resource utilization.
The pricing analysis comprehensively evaluates how a product or service is priced within the Collaborative Robots Market. This evaluation encompasses various factors that impact the price of a product, including production costs, competition, demand, customer value perception, and changing margins. An essential aspect of this analysis is understanding price elasticity, which measures how sensitive the market for a product is to its price change. It provides insight into competitive pricing strategies, enabling businesses to position their products advantageously in the Collaborative Robots Market.
The technology analysis involves evaluating the current and emerging technologies relevant to a specific industry or market. This analysis includes breakthrough trends across the value chain that directly define the future course of long-term profitability and overall advancement in the Collaborative Robots Market.
The patent analysis involves evaluating patent filing trends, assessing patent ownership, analyzing the legal status and compliance, and collecting competitive intelligence from patents within the Collaborative Robots Market and its parent industry. Analyzing the ownership of patents, assessing their legal status, and interpreting the patents to gather insights into competitors' technology strategies assist businesses in strategizing and optimizing product positioning and investment decisions.
The trade analysis of the Collaborative Robots Market explores the complex interplay of import and export activities, emphasizing the critical role played by key trading nations. This analysis identifies geographical discrepancies in trade flows, offering a deep insight into regional disparities to identify geographic areas suitable for market expansion. A detailed analysis of the regulatory landscape focuses on tariffs, taxes, and customs procedures that significantly determine international trade flows. This analysis is crucial for understanding the overarching legal framework that businesses must navigate.
The regulatory framework analysis for the Collaborative Robots Market is essential for ensuring legal compliance, managing risks, shaping business strategies, fostering innovation, protecting consumers, accessing markets, maintaining reputation, and managing stakeholder relations. Regulatory frameworks shape business strategies and expansion initiatives, guiding informed decision-making processes. Furthermore, this analysis uncovers avenues for innovation within existing regulations or by advocating for regulatory changes to foster innovation.
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Collaborative Robots Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Collaborative Robots Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Universal Robots continues its innovation journey by launching new 30 kg collaborative robot
Universal Robots has announced plans to expand its leading product portfolio with UR30, a new 30 kg payload cobot. UR30 combines a compact form with a high-performance lift capacity, ensuring precision handling of significant loads, making it ideal for several applications, including machine tending, material handling, and high torque screw driving. [Published On: 2023-11-29]
Agile Robots acquires Franka Emika
Agile Robots AG has acquired Franka Emika GmbH, the developer of the Panda collaborative robot (cobot) arm. This merger is envisioned as a stepping stone towards cultivating a Bavarian tech powerhouse with international reach, exemplifying a commitment to advancing Industry 5.0. [Published On: 2023-11-13]
South Korea's Doosan Robotics opens books for USD 318 million IPO
Doosan Robotics Inc. has embarked on an Initial Public Offering (IPO) that might garner up to USD 318.3 million. The insightful move involved issuing 16.2 million shares, with a price range set between USD 15.60 and 19.32 won per share. [Published On: 2023-08-28]
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Collaborative Robots Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
The report delves into recent significant developments in the Collaborative Robots Market, highlighting leading vendors and their innovative profiles. These include ABB Ltd., Aubo (Beijing) Robotics Technology Co., Ltd, AutoGuide Mobile Robots, Comau S.p.A., Demaurex SA, DENSO WAVE INCORPORATED., Doosan Robotics Inc., Edgewater Automation, LLC, Elephant Robotics, Epson America, Inc., F&P Robotics AG, Fanuc Corporation, Franka Emika GMBH by Agile Robots AG, Hanwha Corporation, JAKA Robotics Co., Ltd., Kassow Robots ApS, Kawada Robotics Corporation, Kawasaki Heavy Industries, Ltd., Kuka AG, Locus Robotics Corporation, MABI Robotic AG, MRK-Systeme GmbH, Neura Robotics GmbH, ONExia Inc., Productive Robotics, LLC, PROMATION INC., Rethink Robotics GmbH by HAHN Group, Robert Bosch GmbH, Shenzhen Yuejiang Technology Co., Ltd., Stäubli International AG, Suzhou Elite Robot Co., Ltd., Techman Robot Inc., Telefonaktiebolaget LM Ericsson, Universal Robots A/S, and Yaskawa Electric Corporation.
This research report categorizes the Collaborative Robots Market to forecast the revenues and analyze trends in each of the following sub-markets:
- Function
- Hand Guiding
- Power & Force Limiting
- Safety-Rated Monitored Stop
- Speed Reduction & Separation Monitoring
- Payload Capacity
- Above 10kg
- Between 5 & 10kg
- Up to 5 Kg
- Component
- Hardware
- Controller
- Drive
- End Effector
- Sensor
- Software
- Hardware
- Industry
- Automotive
- Electronics
- Food & Beverages
- Furniture & Equipment
- Healthcare
- Metals & Machining
- Plastics & Polymers
- Application
- Assembly
- Gluing & Welding
- Machine Tending
- Material Handling
- Packaging & Palletizing
- Pick & Place
- Quality Testing
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
- Americas
- Market Penetration: This section thoroughly overviews the current market landscape, incorporating detailed data from key industry players.
- Market Development: The report examines potential growth prospects in emerging markets and assesses expansion opportunities in mature segments.
- Market Diversification: This includes detailed information on recent product launches, untapped geographic regions, recent industry developments, and strategic investments.
- Competitive Assessment & Intelligence: An in-depth analysis of the competitive landscape is conducted, covering market share, strategic approaches, product range, certifications, regulatory approvals, patent analysis, technology developments, and advancements in the manufacturing capabilities of leading market players.
- Product Development & Innovation: This section offers insights into upcoming technologies, research and development efforts, and notable advancements in product innovation.
- What is the current market size and projected growth?
- Which products, segments, applications, and regions offer promising investment opportunities?
- What are the prevailing technology trends and regulatory frameworks?
- What is the market share and positioning of the leading vendors?
- What revenue sources and strategic opportunities do vendors in the market consider when deciding to enter or exit?
- Preface
- Research Methodology
- Executive Summary
- Market Overview
- Market Insights
- Collaborative Robots Market, by Function
- Collaborative Robots Market, by Payload Capacity
- Collaborative Robots Market, by Component
- Collaborative Robots Market, by Industry
- Collaborative Robots Market, by Application
- Americas Collaborative Robots Market
- Asia-Pacific Collaborative Robots Market
- Europe, Middle East & Africa Collaborative Robots Market
- Competitive Landscape
- Competitive Portfolio
- List of Figures [Total: 26]
- List of Tables [Total: 574]
- List of Companies Mentioned [Total: 35]
First, it is important to understand that Mobile Cobots are task-specific robots that can offer significant advantages over conventional manufacturing robots. In particular, they can be quickly deployed on different manufacturing floors and share workspaces with operators, reducing the burden created by the need for safety barriers required with traditional robots. With an increasing penchant for industrial automation, Mobile Cobots are emerging as a viable solution for small to medium-sized manufacturing companies with limited floor space and need a cost-effective and flexible automation solution.
Secondly, Cobots feature easy programming and a wide range of application capabilities, especially when compared to traditional robots. They also have a user-friendly interface that allows non-technical personnel to quickly program them for specific tasks. This feature allows businesses to reduce installation and programming expenses, which results in higher returns on investments. Additionally, Cobots perform tasks across a wide range of anchors, including palletizing, assembly, product sorting and inspection, dispensing, and packaging.
Thirdly, Cobots are known for their high degree of variability and flexibility, which is a game-changer for the future of manufacturing. These robots enable manufacturing companies to adapt their production lines quickly. They can easily work with smaller batches, resulting in faster turnover times, greater customization, and rapid adjustment to changing customer demands.
Fourthly, Cobots make the most of cutting-edge technologies such as machine learning, predictive maintenance, and data analytics, making them more efficient and progressively intelligent manufacturing operations. They collect data and relay performance metrics, suggesting potential algorithms, thereby optimizing entire supply chains. This means manufacturers get real-time visual feedback that enables them to adjust their production speed, the number of products they make, and much more.
Collaborative Robots are changing the face of the future of manufacturing. Mobile Cobots present an innovative solution that is cost-effective, flexible, user-friendly, and can easily work with smaller batches, resulting in faster turnaround times and greater customizability. Cobots are a valuable addition to manufacturing floors, helping businesses to move away from labor-intensive operations and towards automated processes. These robots are evolving rapidly, with cutting-edge technologies like machine learning and predictive maintenance, making them progressively intelligent in manufacturing operations. Collaborative Robots will continue to provide businesses with cost-effective, efficient, and flexible solutions, making them one of the hottest trends in the future of manufacturing today.
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