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Global Collaborative Robots (Cobots or Co-robots) Market Generates Huge Revenue Till 2024– Study By Key Players (Cisco, Akros Silicon)

01-15-2020 11:56 AM CET | Media & Telecommunications

Press release from: Kenneth Research

The global collaborative robots (Cobots or Co-robots) market was valued at USD 145.3 Million in 2016 and is expected to grow immensely over the forecast period. The force-limited joint is the unique feature of cobots which has been designed to identify forces due to impact and respond quickly.

The robots offers advanced industrial automation solutions to end-user industries and are considered as the one-stop solution for safe working environment. The Cobots are designed with advanced software and sensors which has further reduced the injuries of the employees.
The cobots with low price and high return on investment are further expected to fuel the market growth over the forecast period.

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The market is projected grow significantly owing to the substantial traction due to reduced total cost of ownership and benefits associated with co-bots from small and medium size enterprises. The significant growth of cobots is encouraged by three key markets which include electronic manufacturers’ service companies and electronics manufacturers, manufacturers seeking optimized agile production methodologies and SME’s.

The collaborative robots market is segmented based on payload capacity, industry, application and region. The payload capacity segment include upto 5kg, upto 10kg, and above 10kg, whereas the application segment is segregated into assembly, pick & place, handling, packaging, quality testing, machine tending, gluing & welding and others.
The industry using the technology includes automotive, food & beverage, furniture & equipment, plastic & polymers, metal & machinery, electronics, and pharmaceutical.

Cobots with payload capacity of above 10kg is anticipated to grow significantly during forecast period
The cobots above 10kg payload capacity are estimated to witness significant growth owing to their capability of handling immense tasks with high precision and reliability.

Furthermore, assemble and pick & place application segment are projected to grow significantly owing to their high flexibility for performing application-specific tasks with easy programming and changing end grippers.
The assembly application growth is attributed to the growing demand in major industries which include electronics, automotive, and furniture & equipment.
Global Collaborative Robots Market Revenue, By Payload Capacity, 2014– 2025 (USD Billion)

The automotive industry is estimated to acquire major market share in the application segment in 2016 owing to the huge application in assisting employees in the production line and assembly line for enhancing the operational efficiency and productivity of the process. The growth is attributed by the increased efficiency in deployment of cobots for enhanced productivity.

Although, several industries are deploying the cobots at a significant rate, however rapidly changing robotics industry, lack of skilled force and compliance with stringent regulations are few factors are projected to hinder the growth over the forecast period.
Europe is accounted for major share in 2016
Europe collaborative robots market is projected to acquire the major share of over 40% followed by North America and Asia Pacific.

The industry growth is driven by strong government funding for factory automation solutions and collectively or independently developed robot-human collaboration for increasing efficiency and reliability which is further driving the market over the forecast period.

Few key players include Cisco, Akros Silicon, Inc., Flexcomm Technology, Microsemi Corporation and Maxim Integrated.

Other players include ON Semiconductor, Shenzhen Quanma Industry Co. Ltd., Silicon Laboratories, STMicroelectronics, VISIX.Geographic Segmentation: This report split global market into North America, Europe, Asia Pacific, the Middle East and Africa and Latin America, with revenue (Billion USD), market share and growth rate of Thermoform Packaging Market for these regions, from 2015 to 2025 (forecast)

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Contact Us

Kenneth Research
Email: Sales@kennethresearch.com
Phone: +1 313 462 0609

About Kenneth Research:

Kenneth Research provides market research reports to different individuals, industries, associations and organizations with an aim of helping them to take prominent decisions. Our research library comprises of more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both macro level as well as micro level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides significant analysis on various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keep a track on the international and domestic market for any economic changes impacting the products’ demand, growth and opportunities for new and existing players.

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