Mobile Collaborative Robots Market Competitive Landscape, Insights by Geography, and Growth Opportunity

The mushrooming demand for industrial automation solutions is fueling the requirement for mobile collaborative robots. The surging complexities of manufacturing processes, high labor costs, and labor shortage and the growing requirement for higher productivity are pushing up the demand for industrial automation across the world. Additionally, many companies in developing countries such as India and China are increasingly using automation solutions for solving the issue of labor shortage and improving their productivity.

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Besides, the ballooning use of mobile collaborative robots in the automotive industry, on account of their several advantages such as standardization in manufacturing process and high-quality output, is also driving their sales around the world. Moreover, these robots provide various other benefits such as handling several tasks like assembling, material handling, and welding, which further boosts their popularity among automobile manufacturers. Furthermore, the boom in the automobile industry, especially in China and India, is propelling the demand for these robots.

The market is also expected to advance at a CAGR of 26.3% from 2020 to 2030. Out of hardware, software, and services, the demand for mobile collaborative robots hardware was found to be the highest in 2019. This was due to the extensive use of these robots in the automobile industry and the fact that hardware is an integral component of mobile cobots. These robots can handle payloads having weights less than 10 kg, between 5 and 10 kg, and greater than 10 kg.

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Amongst these, the usage of these robots was the highest for handling loads having weights in the 5–10 kg range. These robots were extensively used for handling such loads in the electronics and automotive industries. Geographically, the sales of these robots were the highest in the Asia-Pacific (APAC) region in the years gone by and this trend is predicted to continue in the forthcoming years as well. This is ascribed to the soaring investments being made in automation, surging population, and burgeoning requirement for consumer electronics in regional countries such as India, South Korea, and China.

Additionally, the mushrooming sales of electric vehicles are also driving the growth of the mobile collaborative robots market in APAC. Japan and China are dominating the industry, on account of the implementation of supportive government policies regarding the adoption of electric vehicles, including the provision of subsidies. For example, the Chinese government announced in April 2020 that it aims to extend the state subsidies for purchasing new-energy vehicles till the end of 2022.

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This release was published on openPR.