Collaborative Robots Market Grow At CAGR of ~26% During Forecast Period of 2019-2029

A new market research study by Future Market Insights on the collaborative robots market contains global industry analysis 2014–2018 and opportunity assessment 2019–2029. The report investigates the collaborative robots market and provides critical insights for the forecast period of 2019-2029. As per the findings of the report, the global collaborative robots market is anticipated to experience substantial growth over the forecast period due to multiple driving factors such as, growing adoption of automation in end-use industry and reduction in labor cost coupled with high precision work and high regional demand for collaborative robots.

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1. The global collaborative robots market size in 2018 was valued at ~US 650
2. The collaborative robots market is anticipated to grow at a CAGR of ~26% during the forecast period of 2019-2029.
3. The payload capacity up to 5kg segment of collaborative robots is expected to remain as the most preferred product type segment in the collaborative robots market.
o The growth of this particular segment can be primarily attributed to the global growth of the collaborative robots market.
4. East Asia is likely to account for more than half of the revenue shares in the collaborative robots industry by the end of 2029.
o East Asia will continue to be a significant market for collaborative robots manufacturers and distributors, owing to the increasing production and demand for collaborative robots in the automated industry.
5. The electronic and semiconductor segment is likely to continue as the prominent end-use industry, which creates significant growth opportunities for collaborative robots market players.
o The electronic industry has witnessed significant growth over the recent past. The increased demand for high precision work, accuracy, and easy programing offered by built-in sensitivity of collaborative robots, is expected to propel the demand for collaborative robots.
o Noteworthy application potential of collaborative robots such as assembly/disassembly, material handling, inspection and testing, stamping, etching and dispensing, are creating an upswing in the collaborative robots market.

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Affordable Price and Multitude of Applications of Collaborative Robots Contributing to the Market Growth:
The global collaborative robots market has been segmented based on the different types of payload capacities, their multiple applications, end use industry and regions such as North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East and Africa.
• Collaborative robots with payload capacity up to 5kg is projected to have the dominant share of growth in the upcoming years. Lightweight collaborative robots with payload capacity up to 5kg are being widely used for a range of applications. The segmental growth is followed by 5-10kg payload capacity collaborative robots.
• On the basis of application, material handling is expected to hold a majority share of the global collaborative robots market which is implemented in a number of end-use industry. General assembly is another segment which is projected to have a fair share in the market growth.
• Electronics and Semiconductors industry is projected to have significant share in the global collaborative robots market. Demand for high speed and precision work fulfilled by collaborative robots is benefitting the industry on a large scale.
Collaborative Robots Market: Vendor Insights

The report highlights some of the prominent market players, who have established themselves as leaders in the global collaborative robots market. Few examples of key players in the market are Universal Robots A/S, AUBO Robotics, Denso Wave Incorporated, Fanuc Corporation, Stäubli International AG, Robert Bosch GmbH, KUKA AG, Precise Automation, Inc., ABB Group, Yaskawa Electric Corporation and K2 Kinetics among others.

The global collaborative robots market is significantly dominated by some players holding prominent shares of the market. These players are indulging into strategic alliances, collaborations, mergers and acquisitions. For instance, ABB Group announced a collaboration with Kawasaki Heavy Industries Ltd. to share knowledge and are working on joint technical and awareness opportunities.

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The East Asia Market Creating Significant Growth Opportunities
East Asia region is projected to boost the growth of collaborative robots market, owing to the significant rate of automation across industries. South Korea is the leading country in robots per 10,000-person ratio, whereas China has currently registered the highest growth rate in the same ratio. Inclination of these countries towards collaborative robots fueled with significant innovations in the technology is magnifying the market. Japan holds a major share of the market in the East Asia region. To that end, East Asia is expected to generate substantial growth opportunities in the forecast years.

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