Collaborative Robot Market Size 2022, Top Companies Analysis, Share, Trends, Business Model and Forecast by 2027

The latest research study "Collaborative Robot Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" by IMARC Group, finds that the global collaborative robot market size reached US$ 1.31 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 11.82 Billion by 2027, exhibiting a CAGR of 41.20% during 2022-2027.

COVID-19 Impact on Market: (Positive Impact)

As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

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Industry Definition and Application:

A collaborative robot, alternatively known as a cobot, is a robot that is capable of learning various tasks to facilitate direct human-robot interaction in a shared space. It relies on cognitive computing, machine vision, and touch and mobile technologies. Collaborative robot models remain aware of their surroundings through demonstration and reinforcement learning. They consume less energy in comparison to their larger autonomous counterparts and utilize collision detection technologies to avoid injuring human coworkers. Collaborative robot variants also minimize errors, increase productivity, and offer enhanced operating results. Consequently, they find extensive applications across several sectors, including electronics, automotive, manufacturing, food and beverage (F&B), etc.

Global Collaborative Robot Market Trends and Drivers:

The emerging trend of industrial automation, especially across developing countries, and the rising demand for high payload capacity robot models are among the key factors driving the collaborative robot market. In addition to this, the integration of torque and force sensing technologies in these robot variants is also positively influencing the global market. Moreover, the rising usage of cobots in the manufacturing process, such as on the assembly lines and welding, is acting as another significant growth-inducing factor.

Besides this, the increasing need for user-friendly robots that do not require a highly skilled workforce to carry out operations is further augmenting the market growth. Additionally, the growing requirement for cobot applications in the packaging sector to enhance production rates and in the logistics industry to handle complicated work processes is anticipated to propel the collaborative robot market in the coming years.

Global Collaborative Robot Market 2022-2027 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these top key players include:

ABB Ltd., AUBO (Beijing) Robotics Technology Co. Ltd., DENSO WAVE Incorporated (Denso Corporation), Doosan Robotics Inc. (Doosan Group), Fanuc Corporation, Kawasaki Heavy Industries Ltd., KUKA AG (Midea Group), Omron Corporation, Precise Automation Inc. (Brooks Automation Inc), Rethink Robotics GmbH, TechMan Robot Inc. (Quanta Storage Inc.), Universal Robots (Teradyne Inc) and Yaskawa Electric Corporation.

Ask Analyst for Customization and Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/collaborative-robot-market

The report has segmented the market on the basis of region, component, payload, application and end use industry.

Breakup by Component:
• Hardware
• Software

Breakup by Payload:
• Upto 5 Kg
• 5-10 Kg
• Above 10 Kg

Breakup by Application:
• Material Handling
• Pick and Place
• Assembly
• Palletizing and De-Palletizing
• Others

Breakup by End Use Industry:
• Automotive
• Electronics
• Manufacturing
• Food and Beverage
• Chemicals and Pharmaceutical
• Others

Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.

Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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This release was published on openPR.