Meticulous Research®, a globally recognized leader in market research and consulting, has published a comprehensive new report titled, “Collaborative Robots Market by Type, Component (Hardware, Software), Payload, Application (Material Handling, Welding & Soldering, Assembling and Disassembling), and End-use Industry (Oil & Gas, Automotive, Food & Beverage, Others) - Global Forecast to 2031.” This report delivers critical insights and forecasts into the burgeoning collaborative robots sector, offering a detailed analysis of market trends, growth drivers, challenges, and competitive landscape.
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Market Overview
According to the latest findings from Meticulous Research®, the collaborative robots market is poised for significant expansion, projected to reach an impressive $2.9 billion by 2031. The market is expected to grow at a compound annual growth rate (CAGR) of 8.7% during the forecast period from 2024 to 2031. This robust growth trajectory reflects the increasing adoption and integration of collaborative robots across various industries, driven by technological advancements and evolving market needs.
Growth Drivers
Several key factors are propelling the growth of the collaborative robots market:
1. Advancements in Human-Machine Interfaces: Continuous improvements in human-machine interfaces (HMIs) are enhancing the usability and efficiency of collaborative robots. These advancements make it easier for operators to interact with robots, facilitating smoother integration into existing workflows and boosting productivity.
2. Government Initiatives and Industrial Automation: Governments worldwide are actively promoting industrial automation to enhance manufacturing efficiency and competitiveness. Supportive policies, grants, and subsidies are encouraging the adoption of automation technologies, including collaborative robots, across various sectors.
3. Affordability and Ease of Programming: The decreasing cost of collaborative robots and advancements in programming tools have made these technologies more accessible to a broader range of industries. User-friendly programming interfaces and reduced setup times contribute to faster deployment and return on investment.
4. Increased Demand in E-Commerce and Logistics: The rapid growth of e-commerce and logistics sectors has fueled the demand for collaborative robots. These robots play a crucial role in automating material handling, sorting, and packaging processes, addressing the challenges of high-volume order fulfillment and supply chain efficiency.
5. Declining Costs and Technological Advancements: The continuous reduction in the cost of collaborative robots, coupled with advancements in hardware and software, is making these technologies more attractive to businesses. Improved affordability and performance are driving broader adoption across diverse applications.
Challenges and Restraints
Despite the positive outlook, the collaborative robots market faces several challenges:
1. Lack of Proper Training and Skill Development: The effective deployment of collaborative robots requires skilled personnel who can operate and maintain these systems. The shortage of trained professionals poses a challenge to widespread adoption and optimal utilization of collaborative robots.
2. Limitations in Cycle Time and Repeatability: Some collaborative robots face limitations related to cycle time and repeatability, which can affect their performance in high-speed or precision-critical applications. Addressing these limitations is essential for meeting the demands of various industrial processes.
3. Dexterity and Safety Concerns: The need for fine dexterity in collaborative robots and addressing safety and security concerns are critical factors for market players. Ensuring that robots can handle delicate tasks while maintaining safety standards is essential for building trust and acceptance.
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Trends Shaping the Market
The collaborative robots market is witnessing several notable trends:
1. Integration of Artificial Intelligence (AI) and Industry 4.0: The incorporation of AI and Industry 4.0 technologies into collaborative robots is transforming their capabilities. AI-powered robots can adapt to changing conditions, optimize performance, and enhance decision-making, driving innovation in automation solutions.
2. Collaborative Robots with Vision Systems: The integration of advanced vision systems into collaborative robots is enabling more precise and versatile applications. Vision systems enhance robots' ability to perform tasks such as quality inspection, part identification, and assembly with greater accuracy.
3. Focus on Industry-Specific Applications: Collaborative robots are increasingly being tailored for specific industry applications. Customization and specialization are enhancing the effectiveness of robots in sectors such as automotive, healthcare, and food and beverage.
Market Segmentation
The report provides a detailed segmentation analysis of the collaborative robots market:
By Type:
The market is segmented into four main types of collaborative robots:
1. Power and Force Limiting Collaborative Robots: These robots are designed to operate safely alongside human workers by limiting the amount of force they exert. They are suitable for applications where close interaction with humans is required.
2. Safety Monitored Stop Collaborative Robots: These robots feature safety monitoring systems that automatically stop operations if a human enters their work envelope. They are commonly used in environments where safety is a primary concern.
3. Speed and Separation Collaborative Robots: Speed and separation collaborative robots are expected to lead the market in 2024. They are equipped with advanced vision systems and safety sensors that maintain a minimum separation distance between the robot and human operators, ensuring safe and efficient operation.
4. Hand Guiding Collaborative Robots: These robots can be manually guided by operators to perform specific tasks. They are particularly useful in applications where flexibility and adaptability are required.
Top 10 Companies Operating in Collaborative Robots Market: https://meticulousblog.org/top-10-companies-in-collaborative-robot-market/
By Component:
The collaborative robots market is segmented into hardware and software components:
1. Hardware: The hardware segment includes robotic arms, end-of-arm tooling (EOAT) devices, drives, controllers, and sensors. In 2024, the hardware segment is expected to capture over 62% of the market share. Advances in hardware components, such as improved EOAT, vision systems, and controllers, are enhancing the accuracy, efficiency, and payload capacity of collaborative robots.
2. Software: The software segment encompasses the programming and control systems used to operate collaborative robots. Software solutions play a crucial role in simplifying robot programming, enabling advanced functionalities, and facilitating integration with other systems.
By Payload:
The market is segmented based on the payload capacity of collaborative robots:
1. Up to 5 Kg Payload: These robots are designed for light-duty applications and are commonly used in tasks such as material handling and assembly.
2. 5 Kg to 10 Kg Payload: The 5 Kg to 10 Kg payload segment is expected to lead the market in 2024. Robots in this category are equipped with built-in force-torque sensors to ensure worker safety and are suitable for medium-duty applications requiring flexibility.
3. More than 10 Kg Payload: Robots with payload capacities exceeding 10 Kg are used for heavy-duty applications, where higher lifting capabilities are required.
By Application:
The collaborative robots market is segmented based on various applications:
1. Material Handling: The material handling segment is anticipated to hold the largest market share in 2024. Collaborative robots excel in tasks such as loading, unloading, sorting, and packaging, contributing to increased production efficiency and operational speed.
2. Welding & Soldering: Collaborative robots are increasingly being used in welding and soldering applications due to their precision and consistency.
3. Assembling and Disassembling: Robots in this segment are used for tasks such as assembling components and disassembling products, offering high accuracy and efficiency.
4. Machine Tending: Collaborative robots are employed in machine tending applications to load and unload parts from machines, improving productivity and reducing labor costs.
5. Dispensing: Robots used for dispensing applications ensure precise and consistent application of materials such as adhesives and coatings.
6. Processing and Inspection: Collaborative robots are utilized for processing and inspection tasks, including quality control and part verification.
7. Other Applications: This category includes various specialized applications where collaborative robots are used to perform unique tasks.
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By End-use Industry:
The market is segmented by end-use industries:
1. Automotive and Transportation: The automotive and transportation sector is expected to lead the market with over 22% share in 2024. Collaborative robots are used for tasks such as assembly, painting, and quality inspection in the automotive industry, offering cost-effectiveness, efficiency, and enhanced safety.
2. Electrical & Electronics: Collaborative robots are employed in the electronics industry for tasks such as assembly, testing, and packaging.
3. Metal & Machinery: Collaborative robots are used in metalworking and machinery applications for tasks such as machining, welding, and material handling.
4. Plastic & Chemicals: Robots in this sector are used for applications such as molding, dispensing, and handling of plastic and chemical products.
5. Oil & Gas: Collaborative robots are used in the oil and gas industry for maintenance, inspection, and handling of equipment and materials.
6. Food & Beverage: The food and beverage industry utilizes collaborative robots for tasks such as packaging, sorting, and processing of food products.
7. Aerospace & Defense: Collaborative robots are employed in aerospace and defense applications for tasks such as assembly, inspection, and maintenance.
8. Biotechnology and Healthcare: Collaborative robots are used in biotechnology and healthcare for applications such as laboratory automation, medical device assembly, and patient handling.
9. Other End-use Industries: This category includes various other industries where collaborative robots are used for specialized applications.
By Geography:
The global market is segmented into several geographic regions:
1. Asia-Pacific: Asia-Pacific is expected to dominate the collaborative robots market, accounting for over 54% of the market share in 2024. The region’s extensive manufacturing base, coupled with increasing demand for automation in sectors such as automotive, electronics, and food and beverage, contributes to its leading position. Additionally, the declining cost of collaborative robots and a shortage of skilled labor are driving growth in this region.
2. Europe: Europe is a significant market for collaborative robots, with strong demand driven by advancements in automation technology and a diverse industrial base.
3. North America: North America, particularly the United States, is a key market for collaborative robots, with high adoption rates in industries such as automotive, electronics, and healthcare.
4. Latin America: The Latin American market is experiencing growth in the adoption of collaborative robots, driven by increasing industrial automation and technological advancements.
5. Middle East & Africa: The Middle East and Africa region is witnessing gradual growth in the collaborative robots market, with increasing investments in industrial automation and infrastructure development.
Competitive Landscape
The report profiles leading players in the collaborative robots market, providing insights into their strategies, product offerings, and market positions:
1. Universal Robots A/S (Denmark): A pioneer in the collaborative robots market, Universal Robots is known for its innovative solutions and strong market presence.
2. Rethink Robots GmbH (Germany): Rethink Robots is recognized for its advanced collaborative robot technologies and focus on enhancing automation capabilities.
3. ABB Ltd (Switzerland): ABB is a global leader in robotics and automation, offering a wide range of collaborative robots and solutions for various industries.
4. Fanuc Corporation (Japan): Fanuc is renowned for its high-performance collaborative robots and automation solutions, serving diverse industrial applications.
5. KUKA AG (Germany): KUKA is a major player in the robotics industry, providing collaborative robots with advanced capabilities for various applications.
6. Yaskawa Electric Corporation (Japan): Yaskawa offers a range of collaborative robots and automation solutions, focusing on innovation and technological advancements.
7. Kawasaki Heavy Industries, Ltd. (Japan): Kawasaki is known for its high-quality collaborative robots and expertise in industrial automation.
8. Robert Bosch Manufacturing Solutions GmbH (Germany): Bosch provides collaborative robots and automation solutions, emphasizing efficiency and performance.
9. Stäubli International AG (Switzerland): Stäubli is a leading provider of collaborative robots, known for its precision and reliability in automation applications.
10. F&P Robotics AG (Switzerland): F&P Robotics offers advanced collaborative robots with a focus on flexibility and adaptability.
11. Techman Robot Inc. (Taiwan): Techman Robot is recognized for its collaborative robots with integrated vision systems and advanced functionalities.
12. Precise Automation Inc. (Taiwan): Precise Automation provides collaborative robots with high precision and performance capabilities.
13. Doosan Robotics Inc. (South Korea): Doosan Robotics offers a range of collaborative robots with a focus on versatility and ease of use.
14. MABI Robotic AG (Switzerland): MABI Robotic specializes in collaborative robots for various industrial applications, emphasizing quality and innovation.
15. Energid Technologies Corporation (U.S.): Energid Technologies is known for its advanced robotics solutions and software for collaborative robots.
16. AUBO Robotics USA (U.S.): AUBO Robotics offers collaborative robots with a focus on flexibility and ease of integration.
Conclusion
The collaborative robots market is set for significant growth, driven by technological advancements, increasing adoption across various industries, and supportive government initiatives. While challenges remain, including the need for skilled labor and addressing safety concerns, the market presents ample opportunities for innovation and expansion. The detailed analysis provided in Meticulous Research®’s report offers valuable insights for industry stakeholders, guiding strategic decisions and fostering growth in the collaborative robots sector.
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