Collaborative Robots Market Size, Share, Trends & Industry Reports 2030

[Redding, California - Feb 14, 2024] - Meticulous Research®, a renowned global market research company, has released a cutting-edge research report titled, 'Collaborative Robots Market by Type, Component (Hardware, Software), Payload, Application (Material Handling, Welding & Soldering, Assembling and Disassembling), and End-use Industry (Oil & Gas, Automotive, Food & Beverage) - Global Forecast to 2030.'

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In this latest publication, Meticulous Research® forecasts that the Collaborative Robots Market is set to achieve a valuation of $2.7 billion by 2030, exhibiting a robust CAGR of 8.1% during the forecast period. The market's growth is underpinned by advancements in human-machine interface, sophisticated components enhancing human safety, and the increased affordability and ease of programming. Additionally, the expansion of collaborative robots into non-manufacturing applications and the declining prices of these robots are anticipated to unlock new growth opportunities throughout the forecast period.

Nevertheless, the market faces challenges such as a shortage of proper training and skills, limitations in achieving faster cycle times and repeatability, and the demand for fine dexterity in collaborative robots. Players in the market must also contend with the complexities of risk assessment associated with collaborative robots. On a positive note, key trends in the collaborative robots market include advancements in artificial intelligence, industry 4.0, and the integration of collaborative robots with vision systems.

The collaborative robots market is meticulously segmented based on type, component, payload, application, and end-use industry. The study extensively assesses industry competitors and provides a comprehensive analysis at the regional and country levels.

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Segment Highlights:

Type: The collaborative robots market is categorized into power and force limiting collaborative robots, safety monitored stop collaborative robots, speed and separation collaborative robots, and hand guiding collaborative robots. In 2023, the speed and separation collaborative robots segment is anticipated to hold the largest market share.

Component: The market segments into hardware and software, with the hardware segment expected to dominate in 2023. This dominance is attributed to the rising demand for collaborative robots across various applications and advancements in hardware components such as EOAT, tool changers, vision systems, motors, controllers, and power supply.

Payload: Segments include up to 5 KG payload, 5 KG to 10 KG payload, and more than 10 KG payload. The 5 KG to 10 KG payload segment is projected to command the largest market share in 2023.

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Application: The material handling segment is expected to be the largest in 2023, driven by factors such as increased production efficiency, high speed and accuracy, low maintenance costs, and the compact design of robots.

End-use Industry: The automotive and transportation segment is forecasted to account for the largest share in 2023, attributed to collaborative robots offering cost-effectiveness, higher efficiency, safety, speed, and precision in the automotive industry.

Geography: Asia-Pacific is poised to lead the Collaborative Robots Market in 2023, followed by Europe, North America, Latin America, and the Middle East & Africa. The Asia-Pacific region is expected to maintain its dominance throughout the forecast period due to the presence of large-scale manufacturing industries, particularly in the automotive, electronics, and metal and machinery sectors.

Top 10 Companies Operating in Collaborative Robots Market: https://meticulousblog.org/top-10-companies-in-collaborative-robot-market/

Key Players:

Leading the charge in the collaborative robots market are key players such as Universal Robots A/S (Denmark), Rethink Robots GmbH (Germany), ABB Ltd (Switzerland), Fanuc Corporation (Japan), KUKA AG (Germany), Yaskawa Electric Corporation (Japan), Kawasaki Heavy Industries, Ltd. (Japan), Robert Bosch Manufacturing Solutions GmbH (Germany), Stäubli International AG (Switzerland), F&P Robotics AG (Switzerland), Techman Robot Inc. (Taiwan), Precise Automation Inc. (Taiwan), Doosan Robotics Inc. (South Korea), MABI Robotic AG (Switzerland), Energid Technologies Corporation (U.S.), AUBO Robotics USA (U.S.), and TechMan Robot Inc. (Taiwan).

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