Published: August 2020
Over the years, various industry stakeholders have actively invested in the development and implementation of automation technologies for manufacturing operations, in order to minimize expenditure on labor, reduce manual errors and optimize their existing processes.
Roots Analysis has announced the addition of “Global Collaborative Robots (Cobots) Market, 2020-2030” report to its list of offerings.
Collaborative robots or cobots allow companies to automate their processes, are easy to program and deploy, can increase productivity manifolds, and offer high returns on investment. It is worth noting that, according to the International Federation of Robotics (IFR), over time, the cost of cobots has decreased owing to growing demand for such machines across various industries, including automobiles, electronics / electrical goods, food and beverages, as well as life sciences / pharmaceuticals.
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More than 250 cobots are currently available in the market / yet to be launched
More than 70% of the aforementioned cobots are designed to have six degrees of freedom. Further, 50% cobots have payload capacity below 6 Kg. It is worth mentioning that, usually, low payload cobots are preferred by small companies, as such models are cheaper and take up less space.
20% marketed cobots are capable of performing multiple operations across various industries
Around 121 cobots are being used to perform packaging operations, followed by those designed for executing operations related to picking and placing (116) and small part assembly (87). In terms of end-users, about 65% of the approved cobots are installed in life sciences / pharmaceutical industry.
Currently, around 80 players are actively involved in the development of cobots
It is worth noting that majority of the initiatives in this domain are driven by start-ups / small firms. Further, more than 45% companies engaged in this domain are mid-sized and large firms.
Nearly 60% of the cobot manufacturers are based in developed regions
Within Europe, most of the manufacturers are distributed across Germany, France, Switzerland and Denmark, whereas in Asia-Pacific, majority of the manufacturers are headquartered in China. Further, a significant number of such players (25%) are headquartered in North America, with 16 players based in the US.
By 2030, Europe and Asia-Pacific are anticipated to capture over 65% of the market opportunity
The market in European regions is anticipated to grow at a relatively faster rate. In terms of end-users, by 2030, cobots intended for use in automotive industry are likely to represent the largest share of the market, followed by those employed in the electrical industry.
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The USD 18 billion (by 2030) financial opportunity within the global cobots market has been analyzed across the following segments:
The report features inputs from eminent industry stakeholders, according to whom, there is a significant increase in the adoption of cobots. Further, the market for global cobots is expected to grow at faster pace, as compared to market for industrial robots. The report includes detailed transcripts of the discussions held with industry experts:
The research includes profiles of prominent players engaged in this domain (listed below); each profile features an overview of the developer, details related to their product portfolio, recent developments and an informed future outlook.
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