Collaborative Robots Market Share

The study on the global collaborative robots market 2020 by Market Research Future has been conducted with the bird’s eye view of the current proceeding within the collaborative robots industry. The report also considers the impact of the novel COVID-19 pandemic on the collaborative robots market. It offers a clear assessment of the projected market fluctuations during the forecast period (2018-2023) at a pace of 54.22% CAGR while anticipating a valuation of USD 3538.46 million in the same years.

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Top Impacting Factors 

Collaborative robots market is closely related to the market of robots that are proposed to work along with humans and physically interact with humans. Collaborative robots, as compared to traditional industrial robots, are designed to function with limited human guidance or autonomously. Supportive advanced proximity, pressure & other sensors ensure the safety of accompanying humans. Further, they work in a closed-loop feedback control system to continuously monitor the presence of humans around them. All these factors have impacted the market to a great extent and are ready to be an essential market during and post COVID 19 disease outbreak.

Collaborative robots are majorly being employed in industries such as electronics, automotive, aerospace, furniture & equipment, packaging, metals & machining and more due to pandemic caused by Coronavirus. This virus has led to contact-less activities. Such a scenario has encouraged usage of advanced robots to avoid contact with products. In this sudden environment, rising demand for robotics in industries has acted as a significant driver for the global collaborative robot market. Also, the growing demand for automation in industries worldwide is escalating the demand for robotics for future trends.

As per MRFR’s study, new industrial robots are probable to be installed in factories globally. Cobots and another name for collaborative robots cater to grand opportunities for the growth of small to medium-sized companies owing to its short integration time, low investment & ease of use. Thus, all these benefits influence its adoption in various industries and are thrusting the market massively.

To add in this, the collaborative robots market is primarily driven by surged efficiency through the deployment of cobots. In the case of point, a BMW factory revealed that cooperative process that involves efficiently collaborating humans & robots might reduce human idle by a high percentage. 

Leading Segments

Collaborative robots market study aims at various segments such as payload, type, components, application, and vertical.

In terms of payload segment, the market includes up to 5kg, 5kg to 10 kg, and above 10 kg.

In terms of type segment, the market includes speed & separation, power & force limiting, safety monitored stop, and hand guiding.

In terms of component segment, the market includes drives, controllers, end effectors, sensors, and others.

In terms of application segment, the market includes handling, welding and glueing, pick and place, assembling, packaging and palettization, machine testing, quality testing, and others.

In terms of vertical segment, the market includes electronics & semiconductor, automotive,  metals & mining, manufacturing, healthcare, food & beverages, aerospace and others.

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