In terms of value, the global collaborative robot market was valued at $580.8 million in 2018 and is expected to reach $9,137.9 million in 2024 at a CAGR 58.79% during the forecast period 2019-2024.

Read Report Summary: https://bisresearch.com/industry-report/collaborative-robot-market.html

The overall ecosystem of the collaborative robot market comprises robot manufacturers, software providers, and component suppliers. The collaborative robot market has dominance in the developed regions such as Europe and North America, and is gradually gaining popularity in regions such as the Asia-Pacific and Middle East and Africa.

The collaborative robot market is currently witnessing a high growth rate owing to growing need for improved productivity, speed, and efficiency, continuous decrease in size of the available workforce, and overcoming the safety concerns for laborers working around robots in shared workplaces. Furthermore, the rise in awareness regarding collaborative robots is propelling the overall demand, especially in the developing economies.

However, lack of comprehensive regulatory and compliance standards for cobots are some of the factors that are restraining the market growth. Although the rise in the growth of new digital industrial technologies such as industry 4.0and opportunity for collaborative robots in new industrial applications are some of the factors creating viable opportunities for players operating in the collaborative robot market.

The collaborative robot market is one of the most highly competitive markets, with leading players competing intensely to gain a larger share in this business. The competitive landscape of the collaborative robot market shows companies adopting both organic strategies, including business expansions and product launches, and inorganic strategies, including partnerships/agreements/collaborations and acquisitions to gain a major share of the industry.

Get the Sample Report at: https://bisresearch.com/requestsample?id=740&type=download

Some of the key players in the global collaborative market include Aubo Robotics (The U.S.), Yaskawa Motoman (U.S.), Bosch Rexroth AG (Germany), Comau SPA (Italy), Denso Robotics, Inc (Japan), Nachi Robotics System, Inc (Japan), Precise Automation, Inc. (the U.S.), Productive Robotics, Inc. (the U.S.), Seiko Epson Corporation (Japan), and Techman Robot (Taiwan).

About BIS Research:

BIS Research is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.

With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies.

Our in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.

As a leading market intelligence provider, BIS Research stands out of the crowd by complementing the data with valuable insights and actionable inputs for the client's success.

Contact:

Bhavya Banga

Email: [email protected]

BIS Research Inc.

39111 PASEO PADRE PKWY STE 313,

FREMONT CA 94538-1686

Visit our Blog @ https://blog.bisresearch.com/

Connect with us on LinkedIn @ https://www.linkedin.com/company/bis-research

Connect with us on Twitter@ https://twitter.com/BISResearch