Market Research Report
Industrial Cobot Market by Application, and End User : Global Opportunity Analysis and Industry Forecast, 2019-2026
|Published by||Allied Market Research||Product code||938371|
|Published||Content info||240 Pages
Delivery time: 2-3 business days
|Industrial Cobot Market by Application, and End User : Global Opportunity Analysis and Industry Forecast, 2019-2026|
|Published: March 5, 2020||Content info: 240 Pages||
The global industrial cobot market size was $0.65 billion in 2018 and is estimated to reach $12.48 billion by 2026, growing at CAGR of 44.8% from 2019 to 2026.The collaborative robot are used to interact with humans in a shared workspace. The rise in adoption in the small and medium enterprises (SMEs) and investments in automation of manufacturing processes are the key factors driving the market growth. Emergence of robots working along with humans in areas like smart parts assembly and electronics product assembly further fuels the demand.
The industrial cobots are expected to be used in alternative application areas in the growing markets. Electronics is a key area for penetration of industrial cobots and is witnessing growth at an increasing rate. The deployment of cobots in the industrial practices, has resulted in decreased number of injuries and accidents occurring at workplaces. In addition, it has elevated the quality of products and increased profits for a variety of businesses, which in turn helps the company to meet the customer demand. For instance, in June 2018, ABB and Kawasaki collaborated to release the world's first common cobot operated at Automatica in Munich, Germany. The 2 leading players in the field of industrial automation and robotics partnered to create simplified human-cobot interface with spontaneous, smartphone-like navigation and icons especially for their dual-arm co-bots.
The growth of the industrial cobot market is driven by rise in demand for automation, availability of affordable and energy-efficient industrial cobots, and surge in investment in R&D activities. However, high installation cost limits the growth of the market. Furthermore, rise in robot installation in various industry verticals across the globe offers lucrative opportunities for the industrial cobot market growth.
The industrial cobot market is segmented on the basis of application, end user, and region. On the basis of application, the market is categorized into material handling, machine tending, test/Inspection, value added processing, and transport. End users covered in the study include automotive, electronics, food & beverages, manufacturing, healthcare, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the industrial cobot market report include ABB Ltd, The Fanuc Corporation, Kawasaki Heavy Industries Ltd., Nachi Fujikoshi Corporation, Yaskawa Electric Corporation, KUKA AG, Seiko Epson Corporation, Staubli International AG, Universal Robots A/S, and Teradyne. These key players have adopted strategies, such as product launches, business expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations, to enhance their industrial cobot market share.
By End User
Market size and forecast, by application