Emerging Trends to Drive Collaborative Robots Market Growth at 30% CAGR Through 2029

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Collaborative Robots Market Size Growth Forecast: What to Expect by 2025?
The market size for collaborative robots has seen a significant increase lately. The market, which was worth $3.28 billion in 2024, is predicted to reach $4.18 billion in 2025, representing a compound annual growth rate (CAGR) of 27.2%. The previous growth can be credited to various factors including robust economic advancement in developing markets, increasing labor expenses, expansion of the industrial sector, and a heightened demand for automation.

How Will the Collaborative Robots Market Size Evolve and Grow by 2029?
We anticipate a significant expansion in the size of the collaborative robots market in the upcoming years. By 2029, it's projected to reach a value of $11.95 billion, with a compound annual growth rate (CAGR) of 30.0%. This substantial growth during the forecast period can be credited to the automative sector, a surge in e-commerce and logistics, as well as increasing urbanization. Notable trends during this period encompass the incorporation of advanced technologies with collaborative robots, product innovations, emphasis on launching new products, strategic alliances, and collaborations, coupled with escalating investments.

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What Drivers Are Propelling the Growth of Collaborative Robots Market Forward?
The expansion of the collaborative robots market is anticipated to be driven by the escalation in labor costs. Labor costs essentially consist of the total expenditure a corporation has to bear for an employee's wages, benefits, and any connected payroll taxes and benefits. Labor costs are regarded as a substantial component by finance and accounting experts while calculating a company's direct and indirect labor costs. An upswing in labor costs can promote greater use of collaborative robots as they can reduce labor costs and address the increasing labor shortages. For example, Eurostat, a Luxembourg-based statistical department of the European Union, reported a rise of 4.7% in hourly labor costs in the euro area, and a 5.2% rise in the EU in the second quarter of 2024, as compared to the same period in the year before. Thus, escalating labor costs form a key driver for the collaborative robots market.

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What Are the Key Trends Driving Collaborative Robots Market Growth?
In the collaborative robot market, a growing trend is centered on product innovations. To solidify their positioning in the market, major companies have focused their efforts on creating new technological solutions. In June 2022, for example, Dobot, a robotics company from China, released the CRL collaborative robot. Notably, the robot's remarkable reach of 1700 mm is excellent for assignments needing extended reach in confined spaces. It demonstrates outstanding performance in tasks such as inspecting small components, sorting, and managing loading and unloading, especially in the consumer electronics and semiconductor sectors. With different payload capacities from 3 kg to 16 kg, the Cr3L, as part of the Dobot Cr series, caters to a breadth of industrial applications. These spans from automotive and food processing to garment manufacturing and chemical sectors.

What Are the Key Segments in the Collaborative Robots Market?
The collaborative robotsmarket 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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Who Are the Key Players Shaping the Collaborative Robots Market's Competitive Landscape?
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

What Geographic Markets Are Powering Growth in 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.

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