Collaborative Robot Market To Expand At A CAGR Of 41.3% From 2021 To 2031

According to Transparency Market Research's latest research report on the global collaborative robot market for the historical period 2017-2019 and the forecast period 2021-2031, rise in adoption of mobile, collaborative logistics robots for warehousing and fulfillment processes, and surge in the demand for material handling robots to enhance efficiency and worker safety and deliver higher quality at a faster rate are expected to boost the global collaborative robot market during the forecast period

Rise in Adoption of Mobile, Collaborative Logistics Robots for Warehousing and Fulfillment Processes: Key Driver of Collaborative Robot Market

Collaborative robots are extensively used for pick & place activities in logistics. These robots are extensively deployed in large warehouses for accurate, consistent, and rapid movement of goods. Currently, Autonomous Mobile Robots (AMR) have gained traction in logistic applications.
According to the International Federation of Robotics (IFR) World Robotics 2018 Service Robots report, sales of these logistic collaborative robots increased by 66%, over 2017 and reached a total market value of US$ 3.9 Bn. Collaborative logistics robots used in warehousing and fulfilment processes can boost productivity, decrease wasteful motions, save money on manpower, and improve a facility's overall safety. This is especially true with AMRs, which can navigate dynamic environments, effectively locate and pick objects, transfer these objects to human workers more intelligently, and operate at a faster rate than manual picking and placing. All these factors are anticipated to propel the market.
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Surge in Demand for Material Handling Collaborative Robot Drives Market

Material-handling collaborative robots are becoming more capable, owing to recent technological breakthroughs. Not only can human employees collaborate with material handling cobots side by side, but emerging exoskeleton technologies also allow them to be worn by humans. Material handling cobots protect human workers from occupational injuries, while enhance their physical capabilities by offering efficiencies that boost production, reduce injury and liability, and save costs.
Material handling collaborative robots are widely utilized to automate the most physically demanding, hazardous, repetitive, and monotonous tasks on a production line. These robots are employed to increase production efficiencies and deliver higher quality at a faster rate. Collaborative robots, which can handle a wide range of payloads, are being used by an ever-increasing number of industries for various material handling requirements. These industries include automotive, biotechnology, electronics, food & beverage, medical, laboratories, pharmaceuticals, and semiconductors.
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Collaborative Robot Market: Key Developments

Key providers of collaborative robot, such as ABB Ltd., Mitsubishi Electric Corporation, Omron Corporation, Universal Robots AS, and Yaskawa America are focused on the design of cost-effective collaborative robot products to attract more customers. Other key developments in the global collaborative robot market have been highlighted below:
In February 2021, ABB Ltd. expanded its collaborative robot (cobot) portfolio with the introduction of new GoFa and SWIFTI cobot families, which offer higher payloads and speeds. These are advanced versions of YuMi and Single Arm YuMi in ABB's cobot line-up. These stronger, faster, and more capable cobots help companies to boost expansion in high-growth segments including electronics, healthcare, consumer goods, logistics and food & beverage, by catering to the rising demand for automation across multiple industries.
In August 2020, Mitsubishi Electric Corporation launched a series of collaborative robots, called MELFA ASSISTA, in India. They offer safety features such as collision detection and comply strictly with the international safety and robotic standards ISO 10218-1 and ISO/TS15066. After the successful global launch, the company introduced these collaborative robots in the market in India to take a lead in the manufacturing market in India.
In January 2019, Omron Corporation launched a user-friendly, plug-and-play programming interface, the new TM Series Collaborative Robot for automating repetitive tasks in the manufacturing field. These cobots can work seamlessly with humans to enhance productivity and ensure safety. These robots are used for automating repetitive tasks such as machine tending, loading and unloading, assembly, screw driving, gluing, testing or soldering.
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