Global Collaborative Robot (Cobot) Market: Focus on Industry, Application, Type, Payload, Component, and Region - Analysis and Forecast, 2023-2033

Introduction of Collaborative Robot (Cobot)

Collaborative robot (Cobot) are designed to work alongside humans in shared workspaces, with increased safety features and ease of use. Cobots, unlike standard industrial robots, are lightweight, versatile, and outfitted with sensors and force-limited joints to ensure safe human interaction. These robots are increasingly used in a variety of industries, including electronics and automotive, for jobs ranging from material handling to sophisticated assembly, increasing productivity and decreasing physical strain on people. Cobots' progress continues as they include artificial intelligence and machine learning to enhance their skills and autonomy in changing industrial situations.

Market Introduction

The concept of collaborative robot (Cobots) first evolved in the late 1990s, when Northwestern University professors invented the phrase. The early development of cobots was motivated by the desire for safer robot-human interaction in the manufacturing industry. Initial models were crude and focused mostly on improving human capabilities through direct physical assistance in shared chores. These first-generation cobots lacked the sophisticated sensor technology and AI capabilities seen today, but they paved the way for future advancements by demonstrating the ability of robots to collaborate with human operators without the need for safety cages or extensive physical barriers.

In today's industrial scenario, Cobots are a rapidly rising segment that is transforming traditional manufacturing processes. Today's cobots are outfitted with powerful sensors, AI, and machine learning algorithms, allowing them to learn from and adapt to their human counterparts. Cobots' versatility has allowed them to be used in industries other than manufacturing, such as logistics, healthcare, and services. They are increasingly recognized as a critical tool for firms seeking to increase productivity, improve workplace safety, and alleviate labor shortages. Cobots are altering how jobs are completed by automating repetitive and physically demanding operations. They also play an important role in enabling a more flexible, efficient, and sustainable industrial ecosystem.

Industrial Impact

Collaborative robot (Cobot) have had a transformational industrial influence, particularly in areas that value flexibility and efficiency. In the automotive industry, for example, Cobots have transformed manufacturing lines that were formerly dominated by larger, less flexible robots or manual labor. Cobot integration has resulted in more versatile production workflows that can swiftly adapt to new models or bespoke manufacturing procedures. This versatility has resulted in much lower downtime and higher production rates. Cobots also provide a safer work environment by taking over repetitive, hard duties from human workers, lowering the risk of injury and increasing overall workplace ergonomics.

Furthermore, in the electronics industry, where precision and repeatability are critical, Cobots have revolutionized operations like circuit board assembly and component placement. This precision has resulted in greater product quality and lower defect rates, hence impacting product reliability. Cobots' compact size and ease of programming make them perfect for cleanroom situations in electronics manufacturing, where space is limited, and contamination must be kept to a minimum. Cobots democratize access to automation technology and reshape competitive dynamics in the industry by allowing small and medium-sized firms (SMEs) to automate previously cost-prohibitive operations. Their capacity to collaborate closely with humans has not only increased operational efficiencies, but has also fueled innovation in workflow design, propelling industries toward more integrated and smarter manufacturing solutions.

Market Segmentation:

Segmentation 1: by Industry

• Automotive
• Electrical, Electronics, and Semiconductor
• Plastic and Polymer
• Pharma and Chemistry
• Food and Beverage
• Aerospace and Defense
• Metal and Machining
• Others

Automotive to Dominate the Global Collaborative Robot (Cobot) Market (by Industry)

The collaborative robot (Cobot) market is led by the automotive segment, with a 14.04% share in 2022. This is because of its strong integration of cobots in all stages of production, from assembly to inspection and packing, automotive companies use cobots because of their precision, adaptability, and ability to securely interact with human workers, streamlining production lines and lowering operational costs.

Segmentation 2: by Application

• Material Handling
• Assembly
• Molding Operations
• CNC Machine Tending
• Test and Inspection
• Packaging and Palletizing
• Polishing
• Screw Driving
• Gluing, Dispensing, and Welding
• Others

Material Handling to Dominate the Global Collaborative Robot (Cobot) Market (by Application)

The collaborative robot (Cobot) market is led by the material handling segment, with a 20.73% share in 2022. This is because of their versatility and effectiveness, cobots are ideal for operations including packaging, palletizing, assembly, and part feeding. Cobots are especially well-suited for these activities because of their ability to interact securely with human workers, adapt to a variety of payloads, and conduct repeated operations with great precision and dependability. This appropriateness is increased by the simplicity with which cobots may be reprogrammed and redeployed for various duties, making them an affordable choice for small and medium-sized businesses wishing to improve operational efficiency.

Segmentation 3: by Type

• Static Cobot
• Mobile Cobot

Static Cobot Segment to Witness the Highest Growth between 2023 and 2033

The static cobot segment dominated the global collaborative robot (Cobot) market (by type) in 2022, with a 67.0% share due to its broad application and critical significance in stationary jobs across a variety of production contexts. Static cobots are widely employed for processes such as machine tending, welding, and assembly that need precision and consistency within defined operational zones. Their ability to be readily incorporated into existing production lines without requiring major workspace redesign or additional safety equipment makes them especially appealing to small and medium-sized businesses wishing to implement robotics with minimal interruption.

Segmentation 4: by Payload

• Less than 5Kg
• 5Kg-9Kg
• 10Kg-20Kg
• Above 20Kg

Less than 5Kg Segment to Witness the Highest Growth between 2023 and 2033

The less than 5Kg segment dominated the global collaborative robot (Cobot) market (by payload) in 2022, with a 34.0% share due to the reason that these lightweight cobots are versatile and easily accessible. Their compact size and low mass make them ideal for precise and delicate activities like component assembly in electronics or sophisticated pick-and-place procedures, which are common in many modern production environments. These lightweight cobots are also easier to incorporate into existing industrial setups, take up less space, and provide safer interaction with human workers due to their lower inertia and force limits.

Segmentation 5: by Component

• Hardware
• Software

Hardware Segment to Witness the Highest Growth between 2023 and 2033

The hardware segment dominated the global collaborative robot (Cobot) market (by component) in 2022, with a 33% share. This is due to the significant initial expenditure necessary for physical robotic devices and their associated components. Hardware is the foundation of cobot functioning, and it includes advanced sensors, actuators, control units, and the robotic arms themselves, all of which are required for precise and efficient operation. As companies increasingly use cobots for a variety of applications, the need for these advanced hardware systems rises, propelling market growth.

Segmentation 6: by Region

• North America - U.S. and Canada
• Europe - U.K., Germany, France, and Rest-of-Europe
• Asia-Pacific - China, India, Japan, and Rest-of-Asia-Pacific
• Rest-of-the-World - South America and Middle East and Africa

Asia-Pacific was the highest-growing market among all the regions, registering a CAGR of 13.36%. Europe is anticipated to gain traction in terms of collaborative robot (Cobot) adoption owing to the growth of adoption of Cobots in the automotive industry and with the biggest automotive companies residing in the European region, the usage of collaborative robot (Cobot) will drive the market forward.

In Europe, Germany is anticipated to show the highest growth in the collaborative robot (Cobot) market among other countries in the region, growing at a CAGR of 13.36%. The growth of Germany in the collaborative robot (Cobot) market is mainly due to the fact that it benefits from extensive government support, automotive giants who are investing in Cobots heavily, and innovative companies and start-ups.

Recent Developments in the Global Collaborative Robot (Cobot) Market

• In January 2022, Stellantis N.V. is a Dutch multinational vehicle manufacturer that emerged from merging PSA and Fiat Chrysler Automobiles. The company installed 11 collaborative robot arms from Universal Robots (UR) at its Mirafiori factory in Turin, Italy, to automate a number of complicated assembly line activities and quality controls for the new Fiat 500 electric vehicle.
• In December 2023, ABB Robotics and XtalPi have formed a strategic cooperation to manufacture a line of automated laboratory workstations in China. The new automated laboratories will increase the efficiency of R&D operations in biopharmaceuticals, chemical engineering and chemistry, and new energy materials.
• In October 2023, Aerobotix Inc. revealed a new mobile robot for the aerospace and defense industries. Aerobotix and partner Compass Technology Group (CTG) stated they constructed the first collaborative mobile robot for the U.S. Air Force repair facilities. The self-navigating Adaptive Radome Diagnostic System (ARDS), developed by the Air Force's Small Business Innovation Research (SBIR) program, uses microwave signals to non-destructively examine aircraft radomes and discover flaws like delamination or water infiltration.

Demand - Drivers and Limitations

Market Demand Drivers: Increasing Demand for Automation Across Industries

The increased demand for automation across industries is propelling the market for collaborative robot (Cobots), which are altering manufacturing landscapes with better precision, flexibility, and safety. Cobots excel in completing duties with high accuracy and consistency, which is crucial in industries like electronics and pharmaceuticals, where sensitive components must be handled carefully to reduce errors and improve product quality.

Market Restraints: High Initial Investment and Operational Expenditures

The integration of collaborative robotics (Cobots) into commercial operations presents significant financial challenges due to considerable initial investments and ongoing operational costs. Cobots' high initial costs are attributed in part to novel technology such as advanced sensors, artificial intelligence, and powerful control systems. This financial barrier is particularly difficult for small and medium-sized enterprises (SMEs).

Market Opportunities: Increasing Adoption Among Small and Medium-Sized Enterprises (SMEs)

Small and medium-sized organizations (SMEs) are increasingly adopting collaborative robot (Cobot), leading to significant economic opportunities in the industry. Cobots provide SMEs with a cost-effective and customizable automation option, which is especially tempting considering their lower startup and recurring costs than traditional robots. This affordability and versatility enable SMEs to implement automation technologies that can scale with business growth, expanding the potential market for Cobot manufacturers.

How can this Report add value to an Organization?

Product/Innovation Strategy: The product segment helps the reader understand the different types of industries where collaborative robot (Cobot) can be deployed. Moreover, the study provides the reader with a detailed understanding of the collaborative robot (Cobot) market by application on the basis of industry (automotive, electrical, electronics, and semiconductor, plastic and polymer, pharma and chemistry, food and beverage, aerospace and defense, metal and machining and others) and on the basis of application (material Handling, assembly, molding operations, CNC machine tending, test and inspection, packaging and palletizing, polishing, screw driving, gluing, dispensing, and welding, and others), and product on the basis of type (static cobot and mobile cobot), by Payload (less than 5Kg, 5Kg-9Kg, 10Kg-20Kg, and above 20Kg), by Component (Hardware and Software).

Growth/Marketing Strategy: The collaborative robot (Cobot) market has seen major development by key players operating in the market, such as business expansion, partnership, collaboration, and joint venture. The favored strategy for the companies has been partnerships and contracts to strengthen their position in the collaborative robot (Cobot) market. For instance, In May 2023, MG Tech Group unveiled its new high duty cobot palletizer at its most recent trade event, featuring an HC30 Yaskawa cobot and a Rockwell Automation system. The cobot palletizer is aimed at a variety of markets. Manufacturers can afford a machine that can accomplish up to 6 cycles per minute while also being simple to install and maintain. It also has a smaller footprint, saving up to 15% more room than a ""standard"" robotic palletizer because there is no shell around the unit.

Competitive Strategy: Key players in the collaborative robot (Cobot) market analyzed and profiled in the study involve major companies offering collaborative robot (Cobot) services designed for various applications. Moreover, a detailed competitive benchmarking of the players operating in the collaborative robot (Cobot) market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.

Methodology: The research methodology design adopted for this specific study includes a mix of data collected from primary and secondary data sources. Both primary resources (key players, market leaders, and in-house experts) and secondary research (a host of paid and unpaid databases), along with analytical tools, are employed to build the predictive and forecast models.

Data and validation have been taken into consideration from both primary sources as well as secondary sources.

Key Considerations and Assumptions in Market Engineering and Validation

• Detailed secondary research has been done to ensure maximum coverage of manufacturers/suppliers operational in a country.
• Exact revenue information, up to a certain extent, will be extracted for each company from secondary sources and databases. Revenues specific to product/service/technology will then be estimated for each market player based on fact-based proxy indicators as well as primary inputs.
• Based on the classification, the average selling price (ASP) is calculated using the weighted average method.
• The currency conversion rate has been taken from the historical exchange rate of Oanda and/or other relevant websites.
• Any economic downturn in the future has not been taken into consideration for the market estimation and forecast.
• The base currency considered for the market analysis is US$. Currencies other than the US$ have been converted to the US$ for all statistical calculations, considering the average conversion rate for that particular year.
• The term "product" in this document may refer to "solution" as and where relevant.
• The term "manufacturers/suppliers" may refer to "systems providers" or "technology providers" as and where relevant.

Primary Research

The primary sources involve experts from various industries, including robotics industry, cobots manufacturers, and other technology providers, among others. Respondents such as CEOs, vice presidents, marketing directors, and technology and innovation directors have been interviewed to obtain and verify both qualitative and quantitative aspects of this research study.

Secondary Research

This study involves the usage of extensive secondary research, company websites, directories, and annual reports. It also makes use of databases, such as Spacenews, Businessweek, and others, to collect effective and useful information for a market-oriented, technical, commercial, and extensive study of the global market. In addition to the data sources, the study has been undertaken with the help of other data sources and websites, such as www.nasa.gov.

Secondary research was done to obtain critical information about the industry's value chain, the market's monetary chain, revenue models, the total pool of key players, and the current and potential use cases and applications.

Key Market Players and Competition Synopsis

The companies that are profiled have been selected based on thorough secondary research, which includes analyzing company coverage, product portfolio, market penetration, and insights gathered from primary experts.

The collaborative robot (Cobot) market comprises key players who have established themselves thoroughly and have the proper understanding of the market, accompanied by start-ups who are looking forward to establishing themselves in this highly competitive market. In 2022, the collaborative robot (Cobot) market was dominated by established players, accounting for 68% of the market share, whereas start-ups managed to capture 32% of the market. With the increasing adoption of collaborative robot (Cobot) across various industries, more players will enter the global collaborative robot (Cobot) market with each passing year.

Some prominent names established in this market are:

• ABB
• AUBO (Beijing) Robotics Technology Co., Ltd.
• Bosch Rexroth AG
• Comau S.p.A.
• DENSO International America, Inc
• FANUC CORPORATION
• HAHN Group Gmbh
• KUKA AG
• Nachi Robotic Systems, Inc.,
• Robotiq
• Productive Robotics, Inc.
• Seiko Epson Corporation
• TECHMAN ROBOT INC.
• Universal Robots A/S
• Yaskawa Motoman