Collaborative Robots Market (Payload Capacity - Between 5 and 10 Kg, Up to 5 Kg, and Above 10 Kg; Application - Pick and Place, Assembly, Packaging and Palletizing, Handling, Machine Tending, Quality Testing, Gluing, and Welding): Global Industry Analysis, Trends, Size, Share and Forecasts to 2028

A recent report published by Infinium Global Research on the collaborative robots market provides an in-depth analysis of segments and sub-segments in the global as well as regional collaborative robots market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional collaborative robots market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global collaborative robots market. According to the report, the global collaborative robots market is projected to grow at a CAGR of nearly 40% over the forecast period of 2022-2028. 

Market Insight

The Global collaborative robots Market was valued at over about USD 2000 Million in 2022 and is expected to reach about over USD 15,000 Million in 2028, with a CAGR of nearly 40% during the forecast period. Collaborative robots are a form of robotic automation that is built to work safely alongside human workers in a shared, collaborative workspace. In most applications, a collaborative robot is responsible for repetitive, menial tasks. While a human worker completes more complex and thought-intensive tasks. The accuracy, uptime, and repeatability of collaborative robots are designed to complement the intelligence and problem-solving skills of a human worker. Collective robot designs differ greatly from their industrial robot counterparts. With their features rounded edges, force limitations, and light weights, collaborative robots are first and foremost designed for safety. Most Collaborative robots are equipped with a series of sensors to avoid collisions with human workers, as well as safety protocols to shut down if any form of unplanned contact occurs. Many industries realize that the profit to be gained from this technology is very helpful for their expansion the market for collaborative robots is expected to have exponential growth. 

Collaborative robots provide a high return on investment as compared to traditional industrial robots. Along with the potential growth of robot installation in many nations, considerable returns on investment are appealing to small and medium businesses. Collaborative robots have a high return on investment as compared to traditional industrial robots as they only require a controller, an indicator, and a vision system. These cobots are easy to operate, less expensive, and less complicated as well. This also offers the companies a variety of alternatives, increasing their cobots enables industries of all sizes and scales to stay competitive. They also utilize the latest sensors, plug- and play technologies, also wan automated robot programming. The high costs which are required for procurement, integration, programming, accessories, maintenance, and many others, can restrain or hamper the growth of the market. The stringent government regulations also negatively affect the growth of the market. During the pandemic situation, automated robotic units were used to disinfect patients’ rooms and surgery suits as well. In many hospitals, these robots are also used for spraying disinfects. These robots are also designed in such a way that, they are also able to measure skin temperature, breathing rate, pulse rate, and many other things. This utilization of collaborative robots creates a growth opportunity for the market. 

Asia Pacific is expected to grow the most significant share of the market due to the rising demand for customized machinery and cars in the area. There is an increasing number of small and medium enterprises and expanding industrial output also makes the region dominated. Along with this China is also expected to register significant growth due to the rise in the manufacturing industry. North America is anticipated to proliferate with increasing manufacturing sectors. Also, the government's participation supports SMEs in the emergence of smart factories with industry 4.0. Europe is expected to dominate the market worldwide. A large amount of money is invested in research and development which drives the industry forward. 

Segment Covered

The report on the global collaborative robots market covers segments such as payload capacity, and application. On the basis of payload capacity, the sub-markets include between 5 and 10 kg, up to 5 kg, and above 10 kg. On the basis of application, the sub-markets include pick and place, assembly, packaging and palletizing, handling, machine tending, quality testing, and gluing and welding. 

Companies Profiled:

The report provides profiles of the companies in the market such as ABB, Techman Robot, FANUC, KUKA AG, Robert Bosch GmbH, Universal Robots A/S., Rethink Robotics, YASKAWA Electric Corporation, F & P Robotics AG, and Precise Automation, Inc.. 

Report Highlights:

The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the collaborative robots market. Moreover, the study highlights current market trends and provides forecasts from 2022-2028. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players.