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PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1108425

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PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1108425

Global collaborative robots market; by component ; by payload capacity ; by application ; by industry ; by region ; Trend Analysis, Competitive Market Share & Forecast, 2018-2028

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Global Collaborative Robots Market to Reach worth USD 3,998.1 Million by 2028

The global collaborative robots market's growth is attributable to the high adoption rate of collaborative robots for varied applications in the manufacturing sector as they provide high returns on investment, increasing need for automation, increment in funding for research and development…

A recent study by the strategic consulting and market research firm; BlueWeave Consulting revealed that the global collaborative robots market was worth USD 762.0 million in 2021 and is anticipated to reach USD 3,998.1 million by 2028 at a CAGR of 26.9%. This can be attributed to the growing affordability, easier use, and less complexity of the collaborative robots for training purposes. Eight out of ten workplaces claim that they are likely to increase their deployment of collaborative robots over the next decade, with the pandemic acting as a catalyst for accelerating their investment in automation. For instance, ABB recently announced an expansion of its collaborative robot (cobot) portfolio with the new GoFa and SWIFTI cobot families, which offer higher speeds and payloads, to complement YuMi and Single Arm YuMi in ABB's cobot line. These faster, stronger, and more capable cobots are likely to be adopted across various sectors such as electronics, healthcare, logistics and food and beverage, and consumer goods, satisfying the growing demand for automation across numerous industries.

Collaborative robots enable SMEs and large-scale industries to stay competitive in the market as they leverage the latest sensors, plug-and-play technologies, etc. For instance- Tomenson Machine Works deployed cobots for its pin stamping application prim for various benefits like enhancing profitability, quality, and work satisfaction.

High Cost-Benefit Ratio And Rising Productivity Due To Adoption Of Collaborative Robots To Fuel The Market Growth Rate

Besides providing a high cost-benefit ratio, collaborative robots serve other benefits like no human supervision is required for maintenance tasks that substantially enhance their productivity, thus escalating the profitability of the organizations. The average cost of traditional industrial robot is in the range of USD 50,000-80,000. Whereas the cost of a cobot ranges from USD 25,000 to USD 50,000. Thus, the traditional robot systems prove to be quite costly for small-scale industries that have low volume production. In contrast, a standalone collaborative robot's cost ranges anywhere between USD 30,000 to USD 35,000, and with the addition of the end effectors, it reaches up to USD 40,000 to USD 45,000. It is making them more affordable for small-scale industries.

Moreover, in the case of other machines, workers have to stand by them for long durations during their maintenance, which impedes their productivity. Moreover, alongside being deployed by the manufacturing sectors, the cobots are being widely adopted by various other sectors such as the financial sector like banking or NBFCs to perform monotonous cashier functions. These factors are expected to propel the growth of the global collaborative robots market during the forecast period 2022-2028.

Higher Preference For Low Payload Capacity Traditional Industrial Robots In Heavy Duty Industries To Impede Market Growth

Traditional industrial robots are equipped in a better way to handle larger and heavier materials and objects like those used in heavy-duty industries, including automotive, metals, and machinery manufacturing, due to their greater payload capacities in comparison with cobots. The heavy-duty industries prefer to deploy traditional industrial robots to automate their manufacturing operations. Moreover, cobots are engineered to be less powerful when compared to traditional robots to operate safely in the work environment, making them less suited for heavy-duty applications.

Conversely, conventional industrial robots are heavy-duty robots with higher payloads that can handle repetitive, dangerous, and very heavy applications. The average speed of collaborative robots at about 1 m/s is lower compared to their conventional counterparts for the same payload capacity. Consequently, due to the low payload capacity, conventional industrial robots are preferred over collaborative robots in the case of heavy-duty industries. This is likely to hinder their market growth during the forecast period 2022-2028.

Material Handling Sub Segment dominated the global collaborative robots market in 2021.

Based on application, the global collaborative robots market is segmented into the following categories: assembly, pick & place, material handling, packaging, quality testing, machine tending, gluing & welding, and others. The material handling sub-segment had the largest market size due to increasing demand from various industries such as automotive, electric and electrical, mining, medical, and others.

Moreover, material handling is a critical function in such industries because some pieces are delicate and need smooth motion. In these circumstances, robots are used to reduce accident rates and manage staff safety. Other applications such as welding, parts assembly, pick and place also observe a tremendous absorption of collaborative robots. According to the American Welding Society, there was a shortage of 290,000 welding professionals in the manufacturing industry in 2020. Thus, most companies have turned to collaborative robots to harness long-term advantages. It has been reported that 29% of robotic applications were welders. Though installing a robotic setup is quite cost-prohibitive, the advantages that the companies can enjoy is likely to compensate for their investments.

Impact of COVID-19 on the Collaborative Robots Market

The catastrophic COVID 19 pandemic had severe repercussions across several sectors. As the world is still battling against the rapid spread of the COVID-19 pandemic, robotics and automation have been sectors that have seen remarkable progress in their growth rate owing to large-scale adoption of automation across various industries like manufacturing and financial, medical, etc. Robots play a critical role in industrial automation, as they manage multiple core operations in industries. They take up complex, mundane, and repetitive tasks accurately, even in hazardous environments. Due to this quality, they are deployed in manufacturing units across most industries. According to a study by UiPath, over 88% of organizations believe that automation will accelerate human achievement and be effective when it complements humans.

North America Dominates The Global Collaborative Robots Market While Asia-Pacific To Witness The Highest Growth During The Forecast Period.

Amidst the segmentation based on region, North America accounted for the largest market share due to extensive R&D activities and heavy adoption of collaborative robots across various industries, especially manufacturing. Moreover, there has been an increment in investments by the national science foundation (NSF), an independent agency of the U.S. government, to aid novel technologies like robotics. This has been a major contributor to the development of the collaborative robot market in the region.

Moreover, there has been high adoption of robotic surgery in the United States. Robotic surgery has been the most adopted medical device in the last two decades, leading to building a brand image and thus providing a competitive advantage to the region. For instance- In November 2021, Smith & Nephew LLC declared to launch CORI, the handheld robotic system for total as well as partial knee arthroplasties. CORI was designed to allow the surgeons to plan, measure and perform a knee surgery that is customized to each patient's individual anatomy.

The manufacturing industries in the U.S. are currently under the trend to automate their production processes to strengthen the U.S. industries in domestic and international markets. On the other hand, the highest CAGR is anticipated to be exhibited by the Asia-Pacific on account of the rising demand for automation in these regions. Also, there has been substantial investment by the Chinese government to develop technologically advanced robots resulting in a high growth rate of the market in the region.

Competitive Landscape

The Collaborative Robots market is a fragmented market with numerous players serving the market. The key players dominating the global Collaborative Robots market are Neura Robotics, F&P Robotics, FrankaEmica, MABI Robotic, Rethink Robotics, K2 Kinetics, Staubli International AG, AUBO Robotics, Yaskawa America Inc.-Motoman Robotics Div., ABB, Bosch Rexroth AG, Fanuc Corporation, Rethink Robotics GmbH, Universal Robots, Ocean Engineering International Inc., Dooshan Robotics Inc., Kuka AG and other prominent players. The key marketing strategies adopted by the players are extensive investments in research and development, portfolio expansions, new and advanced product launches, geographical expansions collaborations, partnerships, and acquisitions to expand their customer reach.

Don't miss the business opportunity of the global Collaborative Robots market. Consult our analysts to gain crucial insights and facilitate your business growth.

The report's in-depth analysis provides information about growth potential, upcoming trends, and the global collaborative robots market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the global collaborative robots market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.

About Us

Blue Weave Consulting provides all-inclusive Market Intelligence (MI) Solutions to businesses regarding various products and services online & offline. We offer comprehensive market research reports by analyzing qualitative and quantitative data to boost your business solution's performance. BWC has built its reputation from scratch by delivering quality inputs and nourishing long-lasting relationships with its clients. We are a promising digital MI solutions company providing agile assistance to make your business endeavors successful.

Product Code: BWC22198

Table of Contents

1. Research Framework

  • 1.1. Research Objective
  • 1.2. Product Overview
  • 1.3. Market Segmentation

2. Research Methodology

  • 2.1. Qualitative Research
    • 2.1.1. Primary & Secondary Research
  • 2.2. Quantitative Research
  • 2.3. Market Breakdown & Data Triangulation
    • 2.3.1. Secondary Research
    • 2.3.2. Primary Research
  • 2.4. Breakdown of Primary Research Respondents, By Region
  • 2.5. Assumption & Limitation

3. Executive Summary

4. Global Collaborative Robots Market Insights

  • 4.1. Industry Value Chain Analysis
  • 4.2. DROC Analysis
    • 4.2.1. Growth Drivers
    • 4.2.2. Restraints
    • 4.2.3. Opportunities
    • 4.2.4. Challenges
  • 4.3. Technological Landscape/Recent Development
  • 4.4. Regulatory Framework
  • 4.5. Porter's Five Forces Analysis
    • 4.5.1. Bargaining Power of Suppliers
    • 4.5.2. Bargaining Power of Buyers
    • 4.5.3. Threat of New Entrants
    • 4.5.4. Threat of Substitutes
    • 4.5.5. Intensity of Rivalry

5. Global Collaborative Robots Market Overview

  • 5.1. Market Size & Forecast by Value, 2018-2028
    • 5.1.1. By Value (USD Million)
  • 5.2. Market Share & Forecast
    • 5.2.1. By Component
      • 5.2.1.1. Hardware
      • 5.2.1.2. Software
    • 5.2.2. By Payload Capacity
      • 5.2.2.1. Up to 5kg
      • 5.2.2.2. 6-10kg
      • 5.2.2.3. 11 kg and above
    • 5.2.3. By Application
      • 5.2.3.1. Assembly
      • 5.2.3.2. Pick & Place
      • 5.2.3.3. Handling
      • 5.2.3.4. Packaging
      • 5.2.3.5. Others (Quality Testing, Machine Tending, Gluing & Welding)
    • 5.2.4. By Industry
      • 5.2.4.1. Automotive
      • 5.2.4.2. Food & Beverage
      • 5.2.4.3. Furniture & Equipment
      • 5.2.4.4. Plastic & Polymers
      • 5.2.4.5. Others (Metal & Machinery, Electronics, Pharma)
    • 5.2.5. By Region
      • 5.2.5.1. North America
      • 5.2.5.2. Europe
      • 5.2.5.3. Asia-Pacific
      • 5.2.5.4. Latin America
      • 5.2.5.5. Middle-East and Africa

6. North America Collaborative Robots Market

  • 6.1. Market Size & Forecast by Value, 2018-2028
    • 6.1.1. By Value (USD Million)
    • 6.1.2. Market Share & Forecast
    • 6.1.3. By Component
    • 6.1.4. By Payload Capacity
    • 6.1.5. By Application
    • 6.1.6. By Industry
    • 6.1.7. By Country
      • 6.1.7.1. United States
      • 6.1.7.2. Canada

7. Europe Collaborative Robots Market

  • 7.1. Market Size & Forecast by Value, 2018-2028
    • 7.1.1. By Value (USD Million)
  • 7.2. Market Share & Forecast
    • 7.2.1. By Component
    • 7.2.2. By Payload Capacity
    • 7.2.3. By Application
    • 7.2.4. By Industry
    • 7.2.5. By Country
      • 7.2.5.1. Germany
      • 7.2.5.2. United Kingdom
      • 7.2.5.3. Italy
      • 7.2.5.4. France
      • 7.2.5.5. Spain
      • 7.2.5.6. Rest of Europe

8. Asia Pacific Collaborative Robots Market

  • 8.1. Market Size & Forecast by Value, 2018-2028
    • 8.1.1. By Value (USD Million)
  • 8.2. Market Share & Forecast
    • 8.2.1. By Component
    • 8.2.2. By Payload Capacity
    • 8.2.3. By Application
    • 8.2.4. By Industry
    • 8.2.5. By Country
      • 8.2.5.1. China
      • 8.2.5.2. India
      • 8.2.5.3. Japan
      • 8.2.5.4. South Korea
      • 8.2.5.5. Rest of Asia Pacific

9. Latin America Collaborative Robots Market

  • 9.1. Market Size & Forecast by Value, 2018-2028
    • 9.1.1. By Value (USD Million)
  • 9.2. Market Share & Forecast
    • 9.2.1. By Component
    • 9.2.2. By Payload Capacity
    • 9.2.3. By Application
    • 9.2.4. By Industry
    • 9.2.5. By Country
      • 9.2.5.1. Brazil
      • 9.2.5.2. Mexico
      • 9.2.5.3. Rest of Latin America

10. Middle East & Africa Collaborative Robots Market

  • 10.1. Market Size & Forecast by Value, 2018-2028
    • 10.1.1. By Value (USD Million)
  • 10.2. Market Share & Forecast
    • 10.2.1. By Component
    • 10.2.2. By Payload Capacity
    • 10.2.3. By Application
    • 10.2.4. By Industry
    • 10.2.5. By Country
      • 10.2.5.1. Saudi Arabia
      • 10.2.5.2. UAE
      • 10.2.5.3. South Africa
      • 10.2.5.4. Rest of Middle East & Africa

11. Competitive Landscape

    • 11.1.1. List of Key Players and Their Offerings
    • 11.1.2. Market Share Analysis, 2021
    • 11.1.3. Competitive Benchmarking, By Operating Parameters

12. Key Strategic Development (Merger, Acquisition, Partnership.)

13. Impact of COVID-19 on Collaborative Robots Market Industry

14. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **

  • 14.1. Neura Robotics
  • 14.2. F&P Robotics
  • 14.3. FrankaEmica
  • 14.4. MABI Robotic
  • 14.5. Rethink Robotics
  • 14.6. K2 Kinetics
  • 14.7. Staubli International AG
  • 14.8. AUBO Robotics
  • 14.9. Yaskawa America Inc.-Motoman Robotics Div.
  • 14.10. ABB
  • 14.11. Bosch Rexroth AG
  • 14.12. Fanuc Corporation
  • 14.13. Rethink Robotics GmbH
  • 14.14. Universal Robots
  • 14.15. Ocean Engineering International Inc.
  • 14.16. Dooshan Robotics Inc.
  • 14.17. Kuka AG
  • 14.18. Other Prominent Players

15. Key Strategic Recommendations

Product Code: BWC22198

List of Figures

  • Figure 1 Global Collaborative Robots Segmentation
  • Figure 2 Global Collaborative Robots Market Value Chain Analysis
  • Figure 3 Company Market Share Analysis, 2021
  • Figure 4 Global Collaborative Robots Market Size, By Value (USD Million), 2018-2028
  • Figure 5 Global Collaborative Robots Market Share, By Component, By Value, 2018-2028
  • Figure 6 Global Collaborative Robots Market Share, By Payload Capacity, By Value, 2018-2021
  • Figure 7 Global Collaborative Robots Market Share, By Application, By Value, 2018-2021
  • Figure 8 Global Collaborative Robots Market Share, By Industry, By Value, 2018-2021
  • Figure 9 Global Collaborative Robots Market Share, By Region, By Value, 2018-2028
  • Figure 10 North America Collaborative Robots Market Size, By Value (USD Million), 2018-2028
  • Figure 11 North America Collaborative Robots Market Share, By Component, By Value, 2018-2028
  • Figure 12 North America Collaborative Robots Market Share, By Payload Capacity, By Value, 2018-2028
  • Figure 13 North America Collaborative Robots Market Share, By Application, By Value, 2018-2028
  • Figure 14 North America Collaborative Robots Market Share, By Industry, By Value, 2018-2028
  • Figure 15 North America Collaborative Robots Market Share, By Country, By Value, 2018-2028
  • Figure 16 Europe Collaborative Robots Market Size, By Value (USD Million), 2018-2028
  • Figure 17 Europe Collaborative Robots Market Share, By Component, By Value, 2018-2028
  • Figure 18 Europe Collaborative Robots Market Share, By Payload Capacity, By Value, 2018-2028
  • Figure 19 Europe Collaborative Robots Market Share, By Application, By Value, 2018-2028
  • Figure 20 Europe Collaborative Robots Market Share, By Industry, By Value, 2018-2028
  • Figure 21 Europe Collaborative Robots Market Share, By Country, By Value, 2018-2028
  • Figure 22 The Asia-Pacific Collaborative Robots Market Size, By Value (USD Million), 2018-2028
  • Figure 23 The Asia-Pacific Collaborative Robots Market Share, By Component, By Value, 2018-2028
  • Figure 24 The Asia-Pacific Collaborative Robots Market Share, By Payload Capacity, By Value, 2018-2028
  • Figure 25 The Asia-Pacific Collaborative Robots Market Share, By Application, By Value, 2018-2028
  • Figure 26 The Asia-Pacific Collaborative Robots Market Share, By Industry, By Value, 2018-2028
  • Figure 27 The Asia-Pacific Collaborative Robots Market Share, By Country, By Value, 2018-2028
  • Figure 28 Latin America Collaborative Robots Market Size, By Value (USD Million), 2018-2028
  • Figure 29 Latin America Collaborative Robots Market Share, By Component, By Value, 2018-2028
  • Figure 30 Latin America Collaborative Robots Market Share, By Payload Capacity, By Value, 2018-2028
  • Figure 31 Latin America Collaborative Robots Market Share, By Application, By Value, 2018-2028
  • Figure 32 Latin America Collaborative Robots Market Share, By Industry, By Value, 2018-2028
  • Figure 33 Latin America Collaborative Robots Market Share, By Country, By Value, 2018-2028
  • Figure 34 The Middle East & Africa Collaborative Robots Market Size, By Value (USD Million), 2018-2021
  • Figure 35 The Middle East & Africa Collaborative Robots Market Share, By Component, By Value, 2018-2028
  • Figure 36 The Middle East & Africa Collaborative Robots Market Share, By Payload Capacity, By Value, 2018-2028
  • Figure 37 The Middle East & Africa Collaborative Robots Market Share, By Application, By Value, 2018-2028
  • Figure 38 The Middle East & Africa Collaborative Robots Market Share, By Industry, By Value, 2018-2028
  • Figure 39 The Middle East & Africa Collaborative Robots Market Share, By Country, By Value, 2018-2028

List of Tables

  • Table 1 Global Collaborative Robots Market Size, By Component, By Value, 2018-2028
  • Table 2 Global Collaborative Robots Market Size, By Payload Capacity, By Value, 2018-2021
  • Table 3 Global Collaborative Robots Market Size, By Application, By Value, 2018-2021
  • Table 4 Global Collaborative Robots Market Size, By Industry, By Value, 2018-2021
  • Table 5 Global Collaborative Robots Market Size, By Region, By Value, 2018-2028
  • Table 6 North America Collaborative Robots Market Size, By Component, By Value, 2018-2028
  • Table 7 North America Collaborative Robots Market Size, By Payload Capacity, By Value, 2018-2028
  • Table 8 North America Collaborative Robots Market Size, By Application, By Value, 2018-2028
  • Table 9 North America Collaborative Robots Market Size, By Industry, By Value, 2018-2028
  • Table 10 North America Collaborative Robots Market Size, By Country, By Value, 2018-2028
  • Table 11 Europe Collaborative Robots Market Size, By Component, By Value, 2018-2028
  • Table 12 Europe Collaborative Robots Market Size, By Payload Capacity, By Value, 2018-2021
  • Table 13 Europe Collaborative Robots Market Size, By Application, By Value, 2018-2021
  • Table 14 Europe Collaborative Robots Market Size, By Industry, By Value, 2018-2021
  • Table 15 Europe Collaborative Robots Market Size, By Country, By Value, 2018-2028
  • Table 16 The Asia-Pacific Collaborative Robots Market Size, By Component, By Value, 2018-2028
  • Table 17 The Asia-Pacific Collaborative Robots Market Size, By Payload Capacity, By Value, 2018-2028
  • Table 18 The Asia-Pacific Collaborative Robots Market Size, By Application, By Value, 2018-2028
  • Table 19 The Asia-Pacific Collaborative Robots Market Size, By Industry, By Value, 2018-2028
  • Table 20 The Asia-Pacific Collaborative Robots Market Size, By Country, By Value, 2018-2028
  • Table 21 Latin America Collaborative Robots Market Size, By Component, By Value, 2018-2028
  • Table 22 Latin America Collaborative Robots Market Size, By Payload Capacity, By Value, 2018-2028
  • Table 23 Latin America Collaborative Robots Market Size, By Application, By Value, 2018-2028
  • Table 24 Latin America Collaborative Robots Market Size, By Industry, By Value, 2018-2028
  • Table 25 Latin America Collaborative Robots Market Size, By Country, By Value, 2018-2028
  • Table 26 The Middle East & Africa Collaborative Robots Market Size, By Component, By Value, 2018-2028
  • Table 27 The Middle East & Africa Collaborative Robots Market Size, By Payload Capacity, By Value, 2018-2028
  • Table 28 The Middle East & Africa Collaborative Robots Market Size, By Application, By Value, 2018-2028
  • Table 29 The Middle East & Africa Collaborative Robots Market Size, By Industry, By Value, 2018-2028
  • Table 30 The Middle East & Africa Collaborative Robots Market Size, By Country, By Value, 2018-2028
  • Table 31 Neura Robotics Company Overview
  • Table 32 Neura Robotics Financial Overview
  • Table 33 F&P Robotics Company Overview
  • Table 34 F&P Robotics Financial Overview
  • Table 35 MABI Robotic Company Overview
  • Table 36 MABI Robotic Financial Overview
  • Table 37 Rethink Robotics Company Overview
  • Table 38 Rethink Robotics Financial Overview
  • Table 39 Staubli International AG Company Overview
  • Table 40 Staubli International AG Financial Overview
  • Table 41 Yaskawa America Inc.-Motoman Robotics Div. Company Overview
  • Table 42 Yaskawa America Inc.-Motoman Robotics Div. Financial Overview
  • Table 43 ABB Company Overview
  • Table 44 ABB Financial Overview
  • Table 45 Bosch Rexroth AG Company Overview
  • Table 46 Bosch Rexroth AG Financial Overview
  • Table 47 Fanuc Corporation Company Overview
  • Table 48 Fanuc Corporation Financial Overview
  • Table 49 Rethink Robotics GmbH Company Overview
  • Table 50 Rethink Robotics GmbH Financial Overview
  • Table 51 Universal Robots Company Overview
  • Table 52 Universal Robots Financial Overview
  • Table 53 Ocean Engineering International Inc. Company Overview
  • Table 54 Ocean Engineering International Inc. Financial Overview
  • Table 55 Dooshan Robotics Inc. Company Overview
  • Table 56 Dooshan Robotics Inc. Financial Overview
  • Table 57 Kuka AG Company Overview
  • Table 58 Kuka AG Financial Overview
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