Collaborative Robots Market Size, COVID19 Impact Analysis, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI2662
Collaborative Robots Market outlook will be strong with the disruption ushered by the industry 4.0 revolution and advancements in the shape of smart automation capabilities. Collaborative robots (Cobots) have become more productive, smarter, more flexible and have addressed some of the most compelling challenges in robotic automation.
Cobots enable companies to keep control of their automated processes. They complement information transparency and facilitate decentralized decisions. Unlike industrial robots, cobots are designed to work alongside human employees. These machines evolve with software updates and can support XaaS business models. Attributes such as small footprint, user-friendliness, versatility and affordability make collaborative robots apt for deployment in processes that were not previously automated. According to the International Federation of Robotics’ World Robotics Report 2020, around 2.7 million robots were working in factories globally.
Collaborative robots market share from above 10 kg payload robots segment will be pronounced over 2021-2027 with rising demand for operating heavier tasks, such as pick and place, palletizing and assembling. From gluing, mounting to sorting and packaging, high payload cobots are used to streamline tasks such as screwdriving, machine tending and injection molding.
ABB rolled out a higher payload GoFa CRB 15000 in February 2021 to propel flexibility and productivity. The cobot will help businesses automate processes involving longer reaches and loads up to 5kg to help workers with ergonomically challenging and repetitive tasks. This will provide an effective solution for a slew of applications, such as machine tending, material handling, packaging, component assembly, inspection and laboratory automation.
Material handling applications are witnessing a viable uptake of cobots as tasks are often repetitive that can lead to strain or injury. Industries are using cobots to reduce workplace injuries and streamline tasks involving heavy-duty CNC machines. Cobots are automating pick and place activities and boosting cost savings. Collaborative robots market revenue will surge with the increasing application in overcoming challenges across material handling.
Robots are now being used in fulfillment centers of e-commerce enterprises and assembly lines of automotive majors, driving collaborative robots industry size. E-commerce packaging, including labor challenges, mixed pallet loads, and a range of secondary packaging formats are streamlined. E-commerce giants such as Amazon have adopted collaborative robots at their fulfillment centers.
Asia Pacific collaborative robots industry outlook will be bullish through 2027 as more and more manufacturers continue to provide cobots. The presence of large-scale manufacturing industries in China, Japan, South Korea, Taiwan and Australia are fueling the development of cobots. Gradual expansion in automotive production in China and India will create tremendous opportunities for the use of robotic technology.
Key manufacturers in the global collaborative robots market are Universal Robots, ABB Ltd., Omron, Robert Bosch GmbH, Fanuc Corporation, Rethink Robotics and KUKA AG, among others. Bullish demand from automotive, electronics, food and beverage industries are encouraging these companies to strengthen cobots production.
Impact of COVID-19 on collaborative robots market outlook
The coronavirus pandemic has changed the assessment of investments in automation among organizations. The faster payback period associated with cobots has become appealing not only to large manufacturers but even small and medium-sized enterprises. According to the survey conducted by the U.S. National Association of Manufacturers in March 2020, around 53% of manufacturers expected a change in operations. Manufacturers in the medical sector are re-configuring their lines to expedite medical supplies such as gloves, ventilators, production masks and hand sanitizers.
In the light of the pandemic and economic disruptions ushered by the outbreak, collaborative robots market players are expected to reinforce their foothold. Post-coronavirus recovery will further stimulate the adoption of collaborative robots as contact-free trends will foster automated system deployment.
What Information does this report contain?
Customize this Report
Our Market Research Reports Include:
- Market snapshot
- Market Segmentation
- Value Chain Analysis
- Growth Dynamics
- Potential Market Opportunities
- Regulatory Overview
- Technology Evolution
- Innovation & Sustainability