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    Collaborative Robots Market Report

    Collaborative Robots Market Report
    Report code - SR2411 Delivery - 2 Weeks
    Collaborative Robots Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth See more...

    Market Insights

    "The global collaborative robots market is expected to grow from USD 1.13 billion in 2022 to USD 11.68 billion by 2029 at a CAGR of 39.6% during the forecast period."

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    Collaborative robots, also known as cobots, are robotic systems designed to work alongside humans in a shared workspace. Unlike traditional industrial robots that operate in isolation, cobots are designed to be safe and flexible, allowing humans to work alongside them without the need for protective barriers or specialized training.

    Cobots can be programmed to perform a wide range of tasks, from simple repetitive tasks such as picking and placing to more complex tasks that require collaboration and coordination with humans. They are equipped with sensors and other technologies that enable them to perceive and respond to their surroundings, making them adaptable to a wide range of environments and applications.

    The adoption of collaborative robots in production processes is expected to be rapid among small and medium-sized enterprises, particularly in developed countries. Those SMEs that have already implemented collaborative robots are experiencing advantages such as improved competitiveness, increased production output, and higher product quality.

    The factors that promote the growth of the market drivers of collaborative robots include increasing adoption of automation across various industries, improved human-robot interaction systems, and increased investment in robot technology. Also, the use of the systems in the e-commerce and logistics sectors, as well as the need for high-quality production in the manufacturing industries, have also played a great role in the development of the market.

    The COVID-19 pandemic has led to a surge in the adoption of robots in the healthcare sector. During the pandemic, hospitals used automated robotic units to disinfect patient rooms and surgery suites. Robots were also utilized to enforce mask-wearing and social distancing rules, as well as to spray disinfectant. Some hospitals programmed robots with thermal cameras to conduct preliminary screenings of patients and contain the spread of COVID-19.

    Collaborative Robots Market Report Overview

    Market Size in 2029

    USD 11.68 billion

    Market Size in 2022

    USD 1.13 billion

    CAGR

    7.2%

    Base Year of Study

    2022

    Trend Period

    2017-2021

    Forecast Period

    2023-2029

    Segment Analysis

    Component Trends

    "The hardware segment accounted for the largest market share."

    The largest share of the hardware market for collaborative robots in 2022 was held by the robotic arm segment. This segment is also projected to have the highest compound annual growth rate (CAGR) during the forecast period. The robotic arm is one of the most expensive hardware components in a collaborative robot and designing it can be complex and time-consuming. It must be built in accordance with the ISO/TS 15066 standard and certified accordingly.

    Compared to traditional industrial robots, collaborative robots have a curved arm to ensure safety during human contact. The arm also needs to house drives, motors, and sensors while providing maximum resistance to dust and water, which can be a significant challenge. Consequently, due to its higher overall cost compared to other hardware components, the robotic arm is expected to dominate the collaborative robot market analysis in terms of value during the forecast period.

    Regional Trends

    "Asia Pacific accounted for the largest market share."

    By 2029, Asia Pacific is expected to hold the largest share of collaborative robots, both in terms of value and volume. The aging population in China and Japan has led to an increase in labor costs, driving the adoption of collaborative robots for automation in various industries.

    Additionally, the Asia Pacific region is home to several prominent players in the collaborative robot market space, including FANUC Corporation (Japan), Yaskawa Electric Corporation (Japan), Denso Corporation (Japan), and Techman Robot, Inc. (Thailand), which is expected to boost the market further in this region.

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    Key Players

    The major players operating in the global collaborative robots market are:

    • Universal Robots A/S (Denmark)
    • FANUC Corporation (Japan)
    • Techman Robot Inc (Taiwan)
    • KUKA AG (Germany)
    • ABB (Switzerland)
    • Doosan Robotics Inc. (South Korea)
    • Denso Corporation (Japan)
    • Yaskawa Electric Corporation (Japan)
    • AUBO (Beijing)
    • Rethink Robotics GmbH (US)
    • Robotics Technology Co., Ltd (China)
    • Omron Adept Technologies, Inc. (US)

    Note: The above list does not necessarily include all the top players in the market.

    Are you the leading player in this market? We would love to include your name. Write to us at sales@stratviewresearch.com

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.

    What deliverables will you get in this report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth analysis of the Collaborative Robots Market

    How lucrative is the future?

    Market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional and country level historical data and forecasts

    Which are the most attractive market segments?

    Market segment analysis and forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10% free customization

    Research Methodology

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s collaborative robots market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com

    Frequently Asked Questions (FAQ)

    Collaborative robots, also known as cobots, are robotic systems designed to work alongside humans in a shared workspace. Unlike traditional industrial robots that operate in isolation, cobots are designed to be safe and flexible, allowing humans to work alongside them without the need for protective barriers or specialized training.

    The major players operating in the global collaborative robots market are Universal Robots A/S (Denmark), FANUC Corporation (Japan), Techman Robot Inc (Taiwan), KUKA AG (Germany), ABB (Switzerland), Doosan Robotics Inc. (South Korea), Denso Corporation (Japan), Yaskawa Electric Corporation (Japan), AUBO (Beijing), Rethink Robotics GmbH (US), Robotics Technology Co., Ltd (China), Omron Adept Technologies, Inc. (US).

    The collaborative robots market size is estimated to grow from USD 1.13 billion in 2022 to USD 11.68 billion by 2029.

    The collaborative robots market is expected to grow at a CAGR of 39.6% during 2023-2029.

    By 2029, Asia Pacific is expected to hold the largest share of collaborative robots, both in terms of value and volume. The aging population in China and Japan has led to an increase in labor costs, driving the adoption of collaborative robots for automation in various industries.

    The largest share of the hardware market for collaborative robots in 2022 was held by the robotic arm segment. This segment is also projected to have the highest compound annual growth rate (CAGR) during the forecast period.

    Distributors, suppliers, manufacturers, logistics organizations, and government bodies.

    Automotive, Plastic and Polymer, Metal and Machining, Logistics, and Warehousing.