Global Collaborative Robots Market Report, published by Variant Market Research, forecast that the global market is expected to reach $1.3 Billion by 2024 from $0.1 Billion in 2016, growing at a CAGR of 33.2% from 2016 to 2024. By geography, Asia Pacific and Europe expected to grow at a CAGR of 34.9% and 33.0%, respectively, during the forecast period.
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Growing use of robots in automotive, lack of skilled labors, surge in demand from plastic industry, and increasing labor cost are the major factors supporting the growth of the market. Additionally, adoption of robots in various industrial sectors and high technological advancements would boost the growth of the market. However, slow rate of cycle time in making new functionalities, and economical decline in major countries would restraint the growth of the market. Additionally, non-industrial sector would provide several growth opportunities for the global collaborative robots market in the coming years.
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The global collaborative robots market is segregated by payload, application, industry, and geography. By payload, it is categorized into 5kg, 6-10kg and above 10kg. Moreover, applications segment comprise assembly, quality testing, handling, packaging, machine tending, welding, and others. The industry, segment includes plastic & polymers, automotive, food & beverage, metal & machining, aerospace, and others.
By geography, the market is segregated into North America, Europe, Asia-Pacific and Rest of the World (RoW). North America covers U.S., Canada, and Mexico wherein Europe covers U.K., Germany, France, and Rest of Europe. The countries in the Asia-Pacific include China, India, Japan and Rest of Asia-Pacific. South America, Middle East, and Africa are the country wise analysis done under Rest of the World (RoW).
By payload, 6-10 kg and up to 5kg accounted the major share in the market with 47.0% and 37.8% respectively, in the year 2016. Moreover, by applications, assembly, handling, and packaging accounted 18.7%, 21.2%, and 15.5% respectively, in 2016. In the same year, aerospace had a market share of 25.0% followed by automotive with 22.2%.
Asia-Pacific is the fastest growing region in the global advanced combat helmet market and is anticipated to continue this trend owing to rapid urbanization and industrialization. In the year 2016, Europe accounts the largest share of the market with 34.3% followed by North America with 30.9%.
The major key players operating in the Global Collaborative Robots Market are
• Robert Bosch GmbH
• ABB Ltd.
• Kawasaki Heavy Industries, Ltd.
• F&P Robotics AG.
• Universal Robots A/S
• KUKA AG
• FANUC Corporation
• Energid Technologies Corporation
• Precise Automation Inc.
• Rethink Robotics
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