PUBLISHER: Verified Market Research | PRODUCT CODE: 1624557
PUBLISHER: Verified Market Research | PRODUCT CODE: 1624557
Collaborative Robots Market size was valued at USD 1.53 Billion in 2021 and is projected to reach USD 36.01 Billion by 2030, growing at a CAGR of 42.25% from 2023 to 2030. The demand for high-payload-capacity co-bots is growing, Industries are increasing their investments in the automation sector, the high return on investment and low cost of collaborative robots are attracting small and medium businesses and the potential for robot installation in many nations is growing. The Global Collaborative Robots Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Global Collaborative Robots Market Definition
A Collaborative Robot (cobot) is a robot that is designed to assist humans in a certain task by acting as a guide or assistant. Collaborative robots are configured to follow human instructions or to respond to human behaviors and activities in some way. Easy programming, quick setup, faster payback in the robot industry, better robot-human interaction and efficiency, increased return on investment, safer work environment, suitable for small-scale and mid-scale production, and safely handles of complex and dangerous tasks are just a few of the advantages of the robot.
The International Federation of Robotics (IFR), a global industry organization of robot manufacturers and national robot associations, distinguishes between two categories of robots Industrial robots used in automation and Domestic and professional service robots Because they are designed to work alongside people, service robots could be dubbed cobots. Industrial robots have historically worked in isolation from humans, separated by fences or other barriers, but cobots eliminate this barrier.
Information robots in public spaces (an example of a service robot), logistics robots that transport materials within a building, and industrial robots that help automate unergonomic tasks such as assisting people in moving heavy parts, machine feeding or assembly operations are all examples of cobot applications.
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Global Collaborative Robots Market Overview
Collaborative robots (cobots), unlike typical industrial robots, deliver a quick return on investment (as little as 6 months in many circumstances), which benefits both SMEs and major corporations. One of the main reasons for its adoption is this. Emerging enterprises that offer low-cost cobots, as well as their rising affordability, are causing a surge in adoption across a variety of industries.
Low-payload cobots are less expensive and take up less space than higher-payload robots. As a result, they are favored by first-time users. COBOTTA, a cobot from DENSO (Japan), for example, has an intrinsically safe design due to its low weight and so does not require as many sensors as higher payload cobots, keeping it more inexpensive. The demand for high-payload-capacity co-bots is growing, industries are increasing their investments in the automation sector.
The high return on investment and low cost of collaborative robots are attracting small and medium businesses, and the potential for robot installation in many nations is growing. For teaching purposes, collaborative robots are also becoming more economical, easier to use, and less sophisticated. This will largely provide enterprises with a variety of possibilities, increasing the drive and demand for these robots. Because collaborative robots use the latest sensors and plug-and-play technology, they enable industries of all sizes and scales to stay competitive.
The Global Collaborative Robots Market is Segmented on the basis of Industry, Application, and Geography.
Based on Industry, the market is bifurcated into Automotive, Electronics, Metals and machining, Plastics and polymers, Food & beverages, Furniture and equipment, Healthcare, and Others. For most purposes, the electronics sector requires low payload cobots (up to 5 kg), which are less expensive to procure. Low-payload cobots are also smaller and easier to integrate into the manufacturing floor. Most collaborative robots currently have a 0.1 mm or less accuracy, making them perfect for handling and assembling fragile circuit boards and PCBs alongside human employees.
Based on Application, the market is bifurcated into Handling, Assembling and disassembling, Welding and soldering, Dispensing, Processing, and Others. Human workers now undertake some of the most basic and repetitive duties in the world, such as pick and place and palletizing. When working in industries such as food and beverage and healthcare, human workers are not only prone to errors and damage, but they are also at risk of contamination.