GMI Research, Expects the Revenue for Collaborative Robots Market to Touch USD 33969 million in 2026

New analysis from GMI Research, expects the revenue for the Collaborative Robots market is projected to touch USD 33,969 million in 2026, growing at a compound annual growth rate (CAGR) of 52.6% during the forecast period 2019-2026. The primary factor propelling the demand of the Global Collaborative Robots market includes the rising emphasis towards automation by the manufacturing companies across the globe.

The growing demand for compact, lightweight and dexterous robots followed by the lower average selling price and higher rate of investment returns of the collaborative robots, will attract a large number of consumers towards the adoption of collaborative robots over the coming years. Various small and medium businesses are mainly focusing on the adoption of collaborative robots for different applications in the automation industry. The collaborative robots are relatively economical than conventional industrial robots. They are easy to use, safe to work with human workers, and increases the total production units in an efficient and effective manner.

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Based on the Payload capacity, the collaborative robots with up to 5kg payload capacity are expected to grow at a higher CAGR during the forecast period due to the increasing usage of these robots for lightweight applications such as component testing, polishing, small part assembling, grinding, placing, and picking up of parts in the manufacturing industries.

Based on the Application, the assembly application is anticipated to lead the market during the forecast period owing to the increasing usage of these robots in the assembling process driven by its high flexibility, easy programming, and safe to work with human workforce properties. These robots work closely to the heavy machinery and helps in assembling various parts including plastics, woods, metals, and other materials. Moreover, the collaborative robots can be reprogrammed quickly and easily deployed to different machines owing their small size and light weight feature.

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Based on the Industry, the Automotive sector is anticipated to lead the market during the forecast period owing to the growing adoption of collaborative robots for automating the manufacturing process of vehicles. These robots are being used for variety of applications including picking and dropping of equipment, assembling, inspection, and painting of different parts of the vehicles.

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Based on the region, Asia Pacific is anticipated to lead the market during the forecast period owing to the growing demand for collaborative robots across numerous industries, including healthcare, electronics, automotive, food & agriculture, and furniture. The increasing demand for user-friendly robots and the rising emphasis on reducing capital investment will encourage the end-users to opt for collaborative robots across the Asian countries. In addition to this, the increasing adoption of these robots among the small and medium size enterprises to enhance overall productivity will have a positive impact of the growing demand of the market in this region.

The Global Collaborative Robots Market has been segmented on the basis of payload capacity, industry, application, component, and key regions. Based on the payload capacity, the market is segmented into Upto 5 kg, Between 5 to 10 kg and Above 10 kg. Based on the Application, the market is segmented into Pick and Place, Assembly, Machine Tending, Quality Inspection, Handling, Packaging and Palletizing, Gluing and Welding, and Others. Based on the Industry, the market is segmented into Automotive, Food & Agriculture, Furniture & Equipment, Plastics & Polymer, Metals & Machining, Electronics, Healthcare, and Others. Based on the Component, the market is segmented into Hardware and Software.

Various notable players operating in the market include Universal Robots A/S, Rethink Robotics, ABB, Kuka AG, Fanuc Corporation, Teradyne Inc., Robert Bosch GmbH, Precise Automation Inc., Yaskawa Electric Corporation, MABI AG., among others.

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GMI Research leverages its industry expertise and experience to identify the industry trends, big opportunities and potential growth areas across industries. Our Syndicated reports provide actionable insights and covers industry trends, market drivers & restraints, macroeconomic factors, market estimates & forecasts, competitive landscape etc. which helps our clients to strengthen its market position by deploying specific strategies and actions that will lead to higher growth.

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