Global Collaborative Robots Market: Boosted by Rise in Demand of Robots in Various Sectors

SAN FRANCISCO, Nov. 28, 2017 According to the latest report published by Variant Market Research, the global collaborative robots market is estimated to reach $1.3 Billion by 2024 from $0.1 Billion in 2016, growing at a CAGR of 33.2% from 2016 to 2024.

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Rising labor cost & lack of skilled labors to drive the global market

The global collaborative robots market is driven by factors such as adoption of robots in various sectors, increase in use of robots in automotive, plastic industry & electronic assembly, and lack of skilled labors, rising labor cost will uplift the growth of the market. Economic slowdown in major countries and slow rate of cycle time in making new addition of new functionalities may hamper the market growth. Furthermore, opportunities from non-industrial sector would provide an opportunity for market players of collaborative robots market.

Market Segmentations

The global collaborative robots market is classified into application, payload, industry, and geography. Payload segment includes 5kg, 6-10kg and above 10kg. Packaging, assembly, quality testing, handling, machine tending, welding and other applications are covered under the application sub segment. Industry comprises plastic & polymers, automotive, aerospace, food & beverage, metal & machining and other industries. North America (U.S., Mexico, and Canada), Europe (France, Germany, UK, Italy, and Rest of Europe), Asia-Pacific (Japan, China, India, and Rest of Asia-Pacific) and RoW (Middle East, South America, and Africa) are the key geographical regions included in the global collaborative robots market.

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6-10 kg, by payload, is estimated to dominated the global market in 2016

6-10 kg held for the highest market share in 2016, and expected to continue its dominance over the forecast period, 2016 – 2024, due to increasing demand for moderate payload capacity collaborative robots owing to their high adaptability, comfort of deployment, and affordability.
Handling, by application, is estimated to dominated the global market in 2016
Handling held for the highest market share in 2016, and expected to continue its dominance over the forecast period, 2016 – 2024, due to the increasing flexibility and deployment in SMEs.

Aerospace, by industry, is estimated to dominated the global market in 2016

Aerospace held for the largest market share in 2016, and expected to continue its dominance over the forecast period, due to adoption of robots in the manufacture of aerospace products, used for important function in the fabrication of aircraft engines such as to perform drilling, painting and other tasks on airframes.

Asia-Pacific is estimated to witness fastest CAGR from 2016 to 2024

Asia-Pacific is predicted to grow at a fastest CAGR over the forecast period 2016 to 2024. The growth is attributed to rapid growth of industrialization and urbanization.

Competitive Landscape

The key market players of the market are Kawasaki Heavy Industries, Ltd., Precise Automation Inc., Robert Bosch GmbH, Energid Technologies Corporation, Universal Robots A/S, ABB Ltd., F&P Robotics AG., Rethink Robotics, KUKA AG, and FANUC Corporation.

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Scope of Collaborative Robots Market

Payload Segments

• up to 5kg
• 6-10kg
• above 10kg

Application Segments

• Packaging
• Assembly
• Handling
• Quality Testing
• Machine Tending
• Welding
• Others

Industry Segments

• Automotive
• Plastic & Polymers
• Food & Beverage
• Aerospace
• Metal & Machining
• Others

Geography Segments

• North America
o US
o Canada
o Rest of North America

• Europe
o U.K.
o Germany
o France
o Italy
o Others

• Asia-Pacific
o India
o China
o Japan
o Others

• RoW
o Brazil
o Rest of RoW

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About Variant Market Research

Variant Market Research offers syndicated and customized reports to fulfil clients' objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise is data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.

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