A Collaborative Robot (cobot) is a robot which is designed to support humans in a certain work by acting as a guide or assistant. Collaborative robots are built to follow human instructions or to react to human behaviors and activities in some way. Easy programming, faster setup, quicker payback in the robot industry, improved robot-human interaction and efficiency, safer work environment, increased return on investment, suitable for small-scale and mid-scale production and safely manages the complicated and dangerous tasks are some of the few of the benefits of the robot. Rising trend for automation of present manufacturing process to increase the productivity coupled with rising penetration of robots in all manufacturing industries are the key drivers for the collaborative robot market growth. Additionally, the key purpose of the robots is process optimization and process intensification. Thus, achieving the maximum yield with minimum expenses coupled with minimum errors is a favorable driving factor for the growth of the market in the coming years. Moreover, high returns on initial investment by using robots and cost of the collaborative robots is lesser compared with traditional robots and accomplish the tasks with more procession and precision, which is projected to foster the market size in the upcoming years. Moreover, the rising demand for collaborative robots from small & medium scale enterprises owing to its low cost and easy of handling is also further projected to propel the market growth. Further, surging demand for high payload potential cobots for heavier operations in the manufacturing industries is anticipated to create enough investment opportunities for the market growth. In addition, the rising trend for cobots along with autonomous mobile robots (AMR) and automatic guided vehicle (AGV) to create more flexible, easier for installation, affordable, more collaborative and other advantages is expected to accelerated the market growth in the coming years. On the other hand, the increased preference to low payload capacity conventional industrial robots over cobots in heavy-duty industries will impede the market growth.

Moreover, the outbreak of the COVID-19 pandemic across the world has boosted the growth for deployment of robots for automation in the medical sector. The industry which has witnessed majorly high focus on robotics is the healthcare industry thus, creating opportunity for the market growth.

The global Collaborative Robot Market is segregated on the basis of Payload Capacity as Up to 5kg, Up to 10kg and above 10kg. Based on Application the global Collaborative Robot Market is segmented in Assembly, Pick & Place, Handling, Packaging, Quality Testing, Machine Tending, Gluing & Welding and Others. Based on Industry the global Collaborative Robot Market is segmented in Automotive, Food & Beverage, Furniture & Equipment, Plastic & Polymers, Metal & Machinery, Electronics and Pharmaceutical.

The global Collaborative Robot Market report provides geographic analysis covering regions, such as Europe, North America, Asia Pacific, and Rest of The World. The Collaborative Robot Market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.

Competitive Analysis

Universal Robots AS, Fanuc Corp., TechMan Robot Inc., Rethink Robotics GmbH, AUBO Robotics USA and others are among the major players in the global Collaborative Robot Market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.

• In February 2021, ABB (Switzerland) extended its collaborative robot (cobot) portfolio with the new GoFa and SWIFTI cobot families, providing higher payloads and speeds, to supplement YuMi and Single Arm YuMi in ABB’s cobot line-up. These robust, faster and more capable cobots will propel the company’s expansion in high-growth segments along with healthcare, electronics, consumer goods, logistics and food and beverage, amongst others, meeting the rising demand for automation across various industries.
• In March 2020, Techman Robot (Taiwan), a worldwide leader of the collaborative robot inaugurated its first office in Europe, dedicated to offering instant services, training courses, and also as an inventory hub. The new office is situated in the Netherlands, which enables Techman Robot to respond effectively to the growing requirements of their partners and customers in Europe, and also helps more local businesses which are interested in implementing robotic solutions.

The global Collaborative Robot Market has been segmented as below:

Collaborative Robot Market, By Payload Capacity

• Up to 5kg
• Up to 10kg
• above 10kg

Collaborative Robot Market, By Application

• Assembly
• Pick & Place
• Handling
• Packaging
• Quality Testing
• Machine Tending
• Gluing & Welding
• Others

Collaborative Robot Market, By Industry

• Automotive
• Food & Beverage
• Furniture & Equipment
• Plastic & Polymers
• Metal & Machinery
• Electronics
• Pharmaceutical

Collaborative Robot Market, By Region

• Europe
• North America
• Asia Pacific
• Rest of The World

Collaborative Robot Market, By Company

• Universal Robots AS
• Fanuc Corp.
• TechMan Robot Inc.
• Rethink Robotics GmbH
• AUBO Robotics USA
• ABB Ltd.
• Kawasaki Heavy Industries Ltd.
• Precise Automation Inc.
• Siasun Robot & Automation co. Ltd.
• Staubli International AG
• Omron Corporation
• Festo Group
• Epson Robots(Seiko Epson)
• KUKA AG
• DENSO Robotics
• Energid Technologies Corporation
• F&P Robotics AG

The report covers the below scope:

• Global Collaborative Robot Market sizes from 2020 to 2026, along with CAGR for 2020-2026
• Market size comparison for 2019 vs 2026, with actual data for 2019, estimates for 2019 and forecast from 2020 to 2026
• Global Collaborative Robot Market trends, covering comprehensive range of consumer trends & manufacturer trends
• Value chain analysis covering participants from raw material suppliers to the downstream buyer in the global Collaborative Robot Market
• Major market opportunities and challenges in forecast timeframe to be focused
• Competitive landscape with analysis on competition pattern, portfolio comparisons, development trends and strategic management
• Comprehensive company profiles of the key industry players

The years considered for the study are as follows:

• Base year - 2019
• Estimated year - 2019
• Projected year - 2020
• Forecast period - 2021 to 2026

Report Scope:

The global Collaborative Robot Market report scope includes detailed study covering underlying factors influencing the industry trends. The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global Collaborative Robot Market share. Major industry players with significant revenue share include Universal Robots AS, Fanuc Corp., TechMan Robot Inc., Rethink Robotics GmbH, AUBO Robotics USA and others.

Why to Buy this Report:

• Gain detailed insights on the Collaborative Robot industry trends
• Find complete analysis on the market status
• Identify the Collaborative Robot Market opportunities and growth segments
• Analyse competitive dynamics by evaluating business segments & product portfolios
• Facilitate strategy planning and industry dynamics to enhance decision making

Target Audience:

• The report targeted towards the existing players in the industry is as follows:
• Market Manufacturers/Service Providers
• Market Wholesale/Traders
•  Investment and Financial Institutions

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