Global Collaborative Robots Market Research Report Insights, Opportunity Analysis, Market Shares and Forecast 2017 - 2023

The global collaborative robots market is expected to expand with a CAGR of above 60% during the forecast period 2016-2023
Collaborative robots are the robots which can function like human beings and are programmed according to perform specific tasks. The collaborative robots market is expected to account for market revenue share worth $7 billion by the end of 2025. Increasing demand for robots is the key factor driving the growth of global collaborative market. According to World Robotics Report 2016 published by International Federation of Robotics, in 2015, there was an increment of 15% in the sales revenue of collaborative robot sales. The main factor responsible for this growth in 2015 was the robotics industry which witnessed growth of 33% in 2015 as compared to 2014. However, there was a moderate increase in the total sales of collaborative robot sales in the automotive industry in 2015. However, China had emerged as the largest automotive market with a market share of 27% in 2015. However, there will be increase in the demand for service robots by the end of 2018 due to the extensive adoption of collaborative robots in order to perform tasks such as providing assistance during any medical surgery, moving objects in the warehouse, milking cows etc. Therefore, collaborative robots are being used for both personal and domestic purposes. However, industrial robots had accounted for global market revenue share worth, $46 billion in 2016. Moreover, the industrial robot market is expected to continue its dominance during the forecast period. However, there has been decrease in the demand from China. Therefore, increasing robotics market is the key factor fueling the growth of global collaborative robots market.
High payload carrying collaborative robots
There is a great demand for collaborative robots with high payload capacity. According to Robotic Industries Association, maximum payload robots named the M Series consist of a compact profile design along with high wrist and long reach torque. It also has a powerful payload capacity of up to 1,500 kg. Moreover, these maximum payload robots have a unique robot line design which gives the power to manipulate and lift heavy loads flexibly and with high accuracy. These robots achieve one of the highest available wrist torques in the industry. This high wrist torque provides the ability to significantly offset heavy payloads from the tool mounting flange. Furthermore, maximum payload robots of the Kawasaki R series robots can lift payload up to 80 kg. Moreover, the R Series robots have set the benchmark for the medium and small duty industrial robots. The R series robots have a compact size with good operating speed due to which it is being extensively used in large number of applications, such as assembling, dispensing, inspection, material handling, machine tending, welding and material removal. Moreover, Comau which is an Italian robot company had developed a collaborative robot, or a robot which is capable to safely lift heavy payload up to 110 kg and can work efficiently in factory and manufacturing conditions.
Technological advancement in robotics- Growth promoter
According to International Journal of Scientific & Engineering Research, robots used to be just a medium for fun and were more toys for tinkerers and scientists. But now the robots are beginning to be seen in many social places. Technological advancement is going on in order to enhance the operability of the existing robotics technology. A new technology named as Swarm robotics comprises of multiple robot systems. These multiple robot systems further comprises of large numbers of relatively simple physical robots. These technologically advanced robots would be used for civil constructions. Caterpillar Corporation is planning the development of remote controlled machines. It is expected that completely autonomous heavy robots would be successfully developed by the end of 2021. Moreover, some of the remote-controlled cranes were demonstrated to prove that a collaborative robot is capable to perform a herding task. Furthermore, the IBM keyboard manufacturing factory is a factory which is 100% automated. Furthermore, collaborative robots such as HOSPI are being widely used as nurses in hospitals etc. However, scientists have expressed huge concern regarding the deployment of autonomous decision making robots as they can negative impacts on certain areas such as security surveillance and robot cists warn. Moreover, some of the technological challenges are still unsolved which may give rise to ethical issues related to robot and human interaction. Therefore, the technological advancements in robotics would significantly contribute to the growth of global collaborative robots market.
Email: sales@occamsresearch.com

Occams business research is a global provider of consulting and information services combining data refining, expert analysis and client focused reports. We are a dedicated team of industry experts working together towards delivering high quality service and support to your business challenges which would help you in better strategic decision making and enhancing your global presence.

S NO 91 A, Versova Trishul CHS LTD, VERSOVA, Mumbai, Maharashtra, India.

This release was published on openPR.