Press release
Collaborative Robots Market Growth Driven by Rising Labor Costs and Projected to Reach $12.31 Billion by 2029
Collaborative Robots Market Size
What Is The Projected Market Size Of The Global Collaborative Robots Market And Its Growth Rate?
• The collaborative robots market has experienced a dramatic growth in recent years, growing from $3.28 billion in 2024 to $4.23 billion in 2025 at a compound annual growth rate (CAGR) of 28.9%.
• The growth is largely due to strong economic growth in emerging markets, increasing labor costs, development in the industrial sector, and a rise in demand for automation.
• The trend is projected to continue, with the market anticipated to escalate to $12.31 billion by 2029 at a CAGR of 30.6%.
• The strong growth in the forecast period is expected to be driven by the automotive industry, an increase in e-commerce and logistics, and rising urbanization.
What Is Driving The Growth In The Collaborative Robots Market?
The escalating labor costs are expected to be a major propelling factor for the collaborative robots market. These costs encompass each employee's salary, benefits, and any associated payroll taxes and benefits, considered by accounting and finance experts as significant variables when determining a company's expenses. An upsurge in labor costs prompts the adoption of collaborative robots, which serve to lower these costs and address labor shortage issues. For instance, Eurostat reported a significant increase in labor costs in the second quarter of 2024, with a 4.7% increase in the euro area and a 5.2% rise in the EU in comparison to the same quarter of the previous year, supporting the growth of the collaborative robots market.
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Who Are the Key Players Driving Collaborative Robots Market Growth?
The key players in the collaborative robots market include-
• Teradyne
• Fanuc Corporation
• KUKA AG
• Denso Corporation
• ABB Group
• Mitsubishi Electric
• Yaskawa Electric Corporation
• Doosan
• Kawasaki Heavy Industries
• Omron Corporation, HASCO
• AUBO
• Jaka Robotics
• United Robotics Group GmbH
• Melior Motion GmbH, Kassow Robots ApS
What Are The Key Trends In The Collaborative Robots Market?
Key trends in the collaborative robots market include:
• The integration of collaborative robots with advanced technologies
• Product innovations
• Focus on new product launches
• Strategic partnerships and collaborations
• Rising investments in the market
What Are The Segments Of The Global Collaborative Robots Market?
The collaborative robots market is segmented as follows:
• By Component: Hardware, Software
• By Payload Capacity: Up To 5kg, Up To 10kg, Above 10kg
• By Application: Assembly, Pick And Place, Handling, Packaging, Quality Testing, Gluing And Welding, Other Applications
• By Vertical: Automotive, Food And Beverage, Furniture, Plastic And Polymers, Metal And Machinery, Electronics, Pharmaceuticals, Other Verticals.
Which Region Leads The Collaborative Robots Market?
Asia-Pacific was the largest region in the collaborative robots market in 2024. The other regions covered in the report include Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Collaborative Robots Global Market Report?
- Market Size Analysis: Analyze the Collaborative Robots Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Collaborative Robots Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Collaborative Robots Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Collaborative Robots Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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