Global Collaborative Robots Market to Reach $12.31 Billion by 2029, Growing at 30.6% CAGR

What industry-specific factors are fueling the growth of the collaborative robots market?
The collaborative robots market is set to grow due to increasing labor costs. Labor costs comprise of the total amount expended by a business to cover each employee's remuneration, benefits, along with any related payroll taxes and benefits. These costs are a significant element in the calculation of a company's direct and indirect labor expenses, according to accounting and finance professionals. As labor costs rise, it promotes the utilization of collaborative robots, which could mitigate these costs and address the issue of labor shortages. Eurostat, the Luxembourg-based statistical office of the European Union, reported that in the 2024 second quarter, hourly labor costs rose by 4.7% in the euro area and 5.2% in the EU, compared to the equivalent quarter the year before. Consequently, escalating labor costs are contributing to the growth of the collaborative robots market.

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What Is the projected market size and growth rate for the collaborative robots market?
There has been a considerable expansion in the size of the collaborative robots market in the last few years. The market, which stood at $3.28 billion in 2024 is forecasted to reach $4.23 billion in 2025, reflecting a compound annual growth rate (CAGR) of 28.9%. The market's growth during the historic period was fueled by factors like robust economic growth in emerging markets, increasing labor costs, expansion of the industrial sector, and a surge in the demand for automation.

The market for collaborative robots is projected to experience significant expansion in the coming years. By 2029, its valuation is forecasted to reach $12.31 billion, representing a compound annual growth rate (CAGR) of 30.6%. This growth trajectory during the forecast period is primarily driven by factors such as the automotive industry's expansion, the surge in e-commerce and logistics, and increasing urbanization. The period will also see key trends like the integration of these robots with advanced technologies, innovative product developments, emphasis on launching new products, strategic alliances and partnerships, and an upswing in investments.

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What new trends are reshaping the collaborative robots market and its opportunities?
Innovations in products are becoming a significant trend in the collaborative robot market as leading businesses in the field concentrate on creating novel technological solutions to broaden their market presence. For instance, Dobot, a robotic company based in China, in June 2022, debuted their CRL collaborative robot designed with an exceptional reach of 1700 mm, making it ideal for tasks that require access to confined spaces. The robot particularly shines in functions involving the loading and unloading, sorting, and examination of smaller components, specifically within the consumer electronics and semiconductor sectors. The Cr3L, a member of the Dobot Cr series, is available in numerous models with varying payload capacities from 3 kg to 16 kg. This allows it to cater to a host of industrial applications, which include automotive, food processing, garment production, and the chemical industry.

What major market segments define the scope and growth of the collaborative robots market?
The collaborative robots market covered in this report is segmented -

1) By Component: Hardware, Software
2) By Payload Capacity: Up To 5kg, Up To 10kg, Above 10kg
3) By Application: Assembly, Pick And Place, Handling, Packaging, Quality Testing, Gluing And Welding, Other Applications
4) By Vertical: Automotive, Food And Beverage, Furniture, Plastic And Polymers, Metal And Machinery, Electronics, Pharmaceuticals, Other Verticals

Subsegments:
1) By Hardware: Robot Arms, End Effectors, Sensors, Controllers, Safety Systems
2) By Software: Robot Programming Software, Monitoring And Analytics Software, Integration Software, User Interfaces

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Which region dominates the collaborative robots market?
Asia-Pacific was the largest region in the collaborative robots market in 2024. The regions covered in the collaborative robots market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Which key market leaders are driving the collaborative robots industry growth?
Major companies operating 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, Schaeffler Technologies AG & Co. KG, Universal Robots, OnRobot, Kinova, CodeNinja, Apollo Solutions Dev, ViaObjects, VR4, Consensus group, ITPS ONE, Optimusrobo FZCO, Unique World Robotics, Seed Robotics, Neo Robotics, GLITZ Robotics, Cobots, Zipline, TIRA ROBOTS, Ryonic Robotics, Arone

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What Is Covered In The Collaborative Robots Global Market Report?

•Market Size Forecast: Examine the collaborative robots market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the collaborative robots market for a structured understanding.
•Key Players Overview: Analyze major players in the collaborative robots market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the collaborative robots market.
•Segment Contributions: Evaluate how different segments drive overall growth in the collaborative robots market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the collaborative robots market.
•Industry Challenges: Identify potential risks and obstacles affecting the collaborative robots market.
•Competitive Landscape: Review strategic developments in the collaborative robots market, including expansions, agreements, and new product launches.

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