The global collaborative robot market is projected to grow from USD 981 million in 2020 to USD 8 million by 2027; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 42% % during 2021-2027. The collaborative robot or cobot is intended to interact with humans in a shared workspace, physically. The growing adoption in the Small and Medium Enterprises (SMEs) and investments in automation of manufacturing processes are the key factor driving growth. Emergence of robots working along with humans in areas like smart parts assembly and electronics product assembly further fuels the demand.
Increasing demand for performing tasks requiring higher payload capacity is expected to contribute to the rising demand. The ability of cobots to work effectively with employees in an uncaged environment has led to an increased installation in the industry. The co-robots are designed with advanced sensors, software, and End of Arm Tooling (EOATs) that help prevent employee injuries.
Technological developments have led to the advancements across the robotic industry on a notable scale. Initially, these machines were expensive and came with limited or restricted functionalities such as a fixed axis or fixed rotation angles. However, with the advancements in technology, modern-day robots can perform amazing tasks efficiently and at a cheaper price. Moreover, they render a quick Return on Investments (ROI) owing to the optimization of overall expenditures and enhancement of the production rate.
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By Market Players:
Upto 5kg Cobot
5~10 kg Cobot
Above 10kg Cobot
Metal and Machining
Plastic and Polymers
Food and Beverages
United Arab Emirates
Rest of the World
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The Collaborative Robot market in APAC is expected to hold a major market share during the forecast period as countries in APAC such as China, Japan, India, and South Korea have some of the largest manufacturing facilities wherein automation of manufacturing processes has been taken as the highest priority. Also, strong competition among consumer electronics companies in APAC is likely to boost the adoption of machine vision systems in the region. The growing awareness about and demand for high-quality and zero-defect products has fuelled the need for Collaborative Robot in inspection-related applications in the manufacturing fields.
However, the outbreak of COVID-19 has significantly affected the manufacturing sector of APAC. As the neighbouring countries are linked to one another through trade relations and supply chain the entire region is affected with the outbreak of COVID-19 which will have a significant impact on the said market in this region for the forecast period.
TABLE OF CONTENTS
Chapter 1. Executive Summary
Chapter 2. Research Methodology
Chapter 3. Market Outlook
Chapter 4. COVID-19 Impact on Collaborative Robot Market
Chapter 5. Global Collaborative Robot Market Overview, By Application, 2015 – 2027(USD Million)
Chapter 6. Global Collaborative Robot Market Overview, By Distribution Channel, 2015 – 2027(USD Million)
Chapter 7. Global Collaborative Robot Market Overview, By Geography, 2015 – 2027(USD Million)
Chapter 8. North America Collaborative Robot Market Overview, By Countries, 2015 – 2027(USD Million)
Chapter 9. Europe Collaborative Robot Market Overview, By Countries, 2015 – 2027(USD Million)
Chapter 10. Asia Pacific Collaborative Robot Market Overview, By Countries, 2015 – 2027 (USD Million)
Chapter 11. Middle East & Africa Collaborative Robot Market Overview, By Countries, 2015 – 2027 (USD Million)
Chapter 12. South America Collaborative Robot Market Overview, By Countries, 2015 – 2027 (USD Million)
Chapter 13. Competitive Landscape
Chapter 14. Key Vendor Analysis
Chapter 15. Collaborative Robot Market Cost Analysis
Chapter 16. Sourcing Strategy and Downstream Buyers
Chapter 17. Marketing Strategy Analysis, Distributors/Traders
Chapter 18. Market Effect Factors Analysis
Chapter 19. Future Outlook of the Market
Reasons to Buy the Report:
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- Envision the restrictions and restrains that are likely to hamper the market.
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