The latest research study “Collaborative Robot Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global collaborative robot market size reached US$ 1.31 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 11.82 Billion by 2027, exhibiting a CAGR of 41.20% during 2022-2027.

A collaborative robot, alternatively known as a cobot, is a robot that is capable of learning various tasks to facilitate direct human-robot interaction in a shared space. It relies on cognitive computing, machine vision, and touch and mobile technologies. Collaborative robot models remain aware of their surroundings through demonstration and reinforcement learning. They consume less energy in comparison to their larger autonomous counterparts and utilize collision detection technologies to avoid injuring human coworkers. Collaborative robot variants also minimize errors, increase productivity, and offer enhanced operating results. Consequently, they find extensive applications across several sectors, including electronics, automotive, manufacturing, food and beverage (F&B), etc.

Covid-19 Impact:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report. The industry is segmented by size and region. The report provides an analysis of the key trends in each sub-segment of the market, along with forecasts at the global and regional level from 2022-2027. The report also includes competitive landscape of major key players in the industry along with emerging trends in the market.

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Global Collaborative Robot Market Trends and Drivers: 

The emerging trend of industrial automation, especially across developing countries, and the rising demand for high payload capacity robot models are among the key factors driving the collaborative robot market. In addition to this, the integration of torque and force sensing technologies in these robot variants is also positively influencing the global market.

Moreover, the rising usage of cobots in the manufacturing process, such as on the assembly lines and welding, is acting as another significant growth-inducing factor. Besides this, the increasing need for user-friendly robots that do not require a highly skilled workforce to carry out operations is further augmenting the market growth. Additionally, the growing requirement for cobot applications in the packaging sector to enhance production rates and in the logistics industry to handle complicated work processes is anticipated to propel the collaborative robot market in the coming years.

Report Segmentation:

The report has been segmented the market into following categories:

Breakup by Component:

• Hardware
• Software

Breakup by Payload:

• Upto 5 Kg
• 5-10 Kg
• Above 10 Kg

Breakup by Application:

• Material Handling
• Pick and Place
• Assembly
• Palletizing and De-Palletizing
• Others

Breakup by End Use Industry:

• Automotive
• Electronics
• Manufacturing
• Food and Beverage
• Chemicals and Pharmaceutical
• Others

Breakup by Region:

• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

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List of Major Key Players:

The major players in the market are ABB Ltd.(NYSE: ABB), AUBO (Beijing) Robotics Technology Co. Ltd., DENSO WAVE Incorporated (Denso Corporation), Doosan Robotics Inc. (Doosan Group), Fanuc Corporation (OTCMKTS: FANUY), Kawasaki Heavy Industries Ltd., KUKA AG (Midea Group), Omron Corporation, Precise Automation Inc. (Brooks Automation Inc), Rethink Robotics GmbH, TechMan Robot Inc. (Quanta Storage Inc.), Universal Robots (Teradyne Inc) and Yaskawa Electric Corporation.

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