Cobots is a short form for collaborative robots which are planned to aid human beings for specific tasks, which are highly compound in nature and require high accuracy. These robots work in a close collaboration with humans. The robots can detect any unusual activity in their surroundings and can collaborate with humans without physical separation. Smarter, flexibility, smaller, and user-friendly are some qualities which make cobots more useful than industrial robots. Collaborative robots use advanced technologies, which include torques sensing, collision detection, and elastic actuators, for finishing tasks in an efficient manner.

The major factors driving the growth of this market are rise in the investment done in automation sector by the industries, and high ROI and low price of collaborative robots attracting small & medium enterprises. The major market restraint is the high initial investment in the solutions and hard training program for the employees to interact with these robots which need significant time and capital expenditure and leads to lesser adoption by the enterprises. Lack of awareness and lack, skilled labor and lack of capabilities related to faster cycle time and repeatability are the major factors that may hinder the market growth in the near future. Huge investments done by many industries for robot installations in many countries and rising demand for high payload capacity of cobots. Are the major growth opportunity factors in this market.

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Cobots market can be bifurcated on the basis of application, as converted cobots, new-build cobots and redeployed cobots. Based on End-user the market has been categorized into shallow water, deepwater, and ultra-deepwater. Geographically, the Cobots market has been bifurcated into five regions North America, Europe, Asia Pacific, Middle East & Africa and Latin America. The Cobots market size and forecast period for each region has been estimated from 2017 to 2023. Additionally the CAGR (%) for the forecasted period 2017 to 2023. The study also includes market estimates for major countries/regions such as the U.S, the U.K., Germany, France, Japan, China, India, GCC, North Africa, South Africa and Brazil. The detailed analysis by application, end-user and regions supports in evaluating the present scenario, growth prospects and the future scenario for the Cobots market over the forecast period. Thus, the report delivers in-depth segment analysis of the market and classifies it into various industries, thereby providing valuable perceptions.

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The oil and gas exploration companies are concentrating on exploration of oil and gas, from onshore to offshore to drive the Middle East and Africa market for Cobots in the future years. The major companies that are involved in Cobots are ABB, Bionic Robotics, KUKA, Omron Adept Technologies, Blue Ocean Robotics, FANUC America Corporation Copyright, Robotnik and Rethink Robotics.    

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