The collaborative robots market size has the potential to grow by USD 6.83 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by application (material handling, assembly, inspection and testing, welding, and painting and dispensing), end-user (automotive industry, electronics and semiconductor industry, metal industry, rubber and plastics industry, and F&B industry), and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including ABB Ltd., FANUC Corp., Festo SE & Co. KG, Hans Laser Technology Industry Group Co. Ltd., Kawasaki Heavy Industries Ltd., Midea Group Co. Ltd., Robert Bosch GmbH, Staubli International AG, Teradyne Inc., and Yaskawa Electric Corp.
Market Overview

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Market Competitive Analysis

The collaborative robots market is fragmented. because of the presence of a large number of automation and robotics vendors. Large international vendors dominate the market in terms of quality, durability, reliability, and technological innovations. However, regional vendors are striving to remain competitive in the market by providing customized solutions for the manufacturing industry. ABB Ltd., FANUC Corp., and Festo SE & Co. KG are some of the major market participants. Although the increased adoption rate in the SME sector will offer immense growth opportunities, the threat to new sales due to the rise in rental services will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this collaborative robots market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this collaborative robots market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.