Global Collaborative Robots Market Size Analysis Report - Market Share, Forecast Trends and Outlook (2024-2032)

Global Collaborative Robots Market Outlook

The global market size for collaborative robots reached a value of more than USD 969.09 million in 2023. The global collaborative robots market is expected to grow at a CAGR of 16.50% between 2024 and 2032, reaching a value of USD 3830.87 million by 2032.

Key Trends in the Market

Collaborative robot also commonly known as cobot is a kind of robot that is made with the purpose of supporting robot actions in direct interaction with humans. A cobot can assist alongside humans in various applications to help humans complete tasks easily. Mainly unsafe, repetitive, or monotonous tasks are assigned to collaborative robots so that humans can focus on other important tasks.

• Easy programmability and handling of the cobots have increased the demand in various sectors for collaborative robots, ultimately contributing to the growth of the market.

• The competitiveness in the production of collaborative robots has increased the improvements in the quality of the products which has also increased the productivity and demand of cobots, bolstering the market.

• Cobots are less capable of handling larger and heavier materials especially the ones used in metals, automotive, and machinery manufacturing heavy duty industries which traditional robots are capable of. Development of cobots with greater handling capacities is a key trend in the collaborative robots market.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Market Analysis

Based on payload capacity, the market can be divided into less than 5 kg, 5 to 10 kg, and more than 10 kg among other capacities. On the basis of application, the collaborative robots market is divided into material handling, assembly, pick and place, testing, welding, sorting, and positioning, among others. By end use, the market is categorised into automotive, food and beverages, furniture and equipment, plastic and polymers, metal and machinery, electronics, pharma, and retail, among others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. 

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global collaborative robots market covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.  

• Universal Robots A/S

• FANUC Corporation

• Techman Robot Inc.

• Rethink Robotics GmbH

• Festo OY

• ABB Ltd.

• Yaskawa Electric Corporation

• KUKA AG

• OMRON CORPORATION

• Kawasaki Heavy Industries Ltd.

• Others

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Market Share by Payload Capacity

Collaborative robots with a capacity of 5-10 kg observed substantial growth in the collaborative robots market owing to adequate handling capacity of materials and also longer reach for palletising and machine tending. With the 5-10 kg capacity, the cobots are reasonably sized, increasing their safety for operations in close proximity to people. 

Moreover, special grippers are not required for collaborative robots to operate in the automotive and other industries. They pick up and assemble loads such as transmissions and small engine components alongside human workers. Thus, because of the adaption by people, flexibility and safety along with repeatability, the 5-10 kg capacity of cobots are expected to maintain their growth in the forecast period as well. 

Market Share by Region

Asia Pacific is expected to have a leading share in the collaborative robots market owing to the strong presence of the manufacturing sector in the region. The manufacturers are preferring collaborative robots instead of complete robotics due to low costs of labour in the Asia Pacific, saving on costs for advanced robots. Electronic and automotive industries in the Asia Pacific have significant utilisation of collaborative robots as they enable high precision activities for large-scale manufacturing. 

In the past, North America has held a sizable market share for collaborative robots because of early adoption of advanced technologies, and applications in fields such as robot-assisted surgery. With high costs of labour in countries such as the United States, cobots offer savings and increased precision in tasks, particularly for end-users not ready to invest in complete robotisation. 

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Competitive Landscape

Universal Robots A/S was established in 2005 and is headquartered in Odense, Denmark. It is an automation company which specialises in manufacturing of small, flexible, industrial collaborative robot arms.

FANUC Corporation founded in 1972 is based out of Yamanashi in Japan. It is a machine industry company which is known to provide automation services and products including computer numerical control wireless and robotics systems. 

Techman Robot Inc. was founded in 2015 and has its headquarter in Taoyun, Taiwan. It is an independent company which operates under Quanta computers and is most known for cobots with built-in vision systems, such as the TM robot series. 

Other market players include Rethink Robotics GmbH, Festo OY, ABB Ltd., Yaskawa Electric Corporation, KUKA AG, OMRON CORPORATION, and Kawasaki Heavy Industries Ltd., among others.

Key Highlights of the Report