Collaborative Robots Market Set for 56.94% CAGR Explosive Growth to 2023 Led by Automotive Industry

PUNE, India, September 12, 2017 /PRNewswire/ --

Collaborative robots market is forecast to reach $4,284.4 million by 2023 from $176.7 million in 2016 at a CAGR of 56.94% during (2017-2023) driven by high ROI rates and low price of collaborative robots leading to growing attraction from SMEs, and increasing investments in automation by industries to support Industry 4.0 evolution Says a latest report available at ReportsnReports.com.

Browse 62 Market Data Tables and 39 Figures spread through 214 Pages and in-depth TOC on "Collaborative Robots Market Global Forecast to 2023" at http://www.reportsnreports.com/reports/650005-collaborative-robots-market-by-payload-up-to-5-kg-up-to-10-kg-above-10-kg-application-industry-and-geography-global-forecast-to-2022.html .

The APAC holds major share of collaborative robots market between 2017 and 2023. Europe held the largest share of the collaborative robots market in 2016 and is expected to be surpassed by the APAC region by 2023. This high growth of the market in APAC is expected to be led by the increasing demand for collaborative robots in China, Japan, South Korea, and India, especially for industries such as electronics, automotive, and metals and machining. These countries are home to a large number of SME's engaged in manufacturing processes across the said industries and are also making significant investments for automating their respective production processes, which adds to the growth of collaborative robots.

The report profiles the key players in the collaborative robots market with their respective market share analysis. The prominent players profiled in this report are ABB (Switzerland), KUKA AG (Germany), FANUC Corporation (Japan), Robert Bosch GmbH (Germany), Universal Robots A/S (Denmark), Rethink Robotics (US), MRK-Systeme GmbH (Germany), Precise Automation, Inc. (US), Energid Technologies Corporation (US), F&P Robotics AG (Switzerland), MABI AG (Switzerland), Techman Robot for Quanta Storage Inc. (Taiwan), Franka Emika GmbH (Germany), AUBO Robotics Inc. (US), YASKAWA Electric Corporation (Japan), Comau S.p.A (Italy), and KAWADA Robotics Corp. (Japan).

Make an Inquiry on Collaborative Robots Market by Payload Capacity (Up to 5 kg, Up to 10 kg, Above 10 kg), Industry (Automotive, Electronics, Metals & Machining, Plastics & Polymer, Food & Agriculture, Healthcare), Application, and Geography - Global Forecast to 2023 research report at http://www.reportsnreports.com/contacts/inquirybeforebuy.aspx?name=650005 .

The automotive, electronics, and metals and machining are the key industries (in terms of market share) in the global collaborative robots market. Automotive, electronics and metals & machining industries holds large share of market. Co-bots are used to perform many assembly tasks, which are extensively used in the automotive industry. These robots are further used to perform various other tasks across the automotive production line; pick and place, quality inspection, packaging and palletizing, machine tending, and material handling while deploying and redeploying co-bots in time and cost- effective manner without impacting the overall layout of the production line.

The co-bots with up to 5 kg payload capacity held the largest collaborative robots market share in 2016 and are further expected to lead the market (in terms of value and volume) between 2017 and 2023. The growth of the said market is mainly driven by the increase in demand for light as well as moderate payload capacity co-bots. This growth can be attributed to the high ease of deployment, high adaptability, affordability, and plug and play characteristics of co-bots, which are some of the essential parameters meeting the demands of a large pool of SMEs.

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In the process of determining and verifying, the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (28%), Tier 2 (52%) and Tier 3 (20%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-Level (38%), Director Level (41%), and Others (21%) from various key organizations operating in the collaborative robots market. The primary interviews were conducted worldwide covering regions such as North America (33%), Europe (40%), APAC (22%), and RoW (5%).

This research report categorizes the global collaborative robots market on the basis of payload capacity, application, industry, and geography. The report describes the collaborative robots market dynamics (drivers, restraints, challenges, and opportunities) and forecasts the same till 2023.

Another research titled Industrial Robotics Market Global Forecast to 2023 says, the industrial robotics market is expected to grow from $38.11 billion in 2016 to $71.72 billion by 2023, at a CAGR of 9.60% during the forecast period. Market for collaborative robots expected to grow at highest CAGR during forecast period. Market for SCARA robots to grow at a significant rate between 2017 and 2023. APAC held largest share of industrial robotics market in 2016. Companies such as ABB Ltd. (Switzerland), KUKA AG (Germany), Mitsubishi Electric Corp. (Japan), FANUC Corporation (Japan), Kawasaki Heavy Industries Ltd. (Japan), Yaskawa Electric Corporation (Japan), Seiko Epson Corporation (Japan), Stäubli International AG (Switzerland), NACHI-FUJIKOSHI CORP (Japan), DENSO CORPORATION (Japan), Comau SpA (Italy), DAIHEN Corporation (Japan), Omron Adept Technologies, Inc. (US), Universal Robots A/S (Denmark), CMA ROBOTICS SPA (Italy) have been profiled in this 170 pages research report available at http://www.reportsnreports.com/reports/166950-industrial-robotics-market-global-forecast-analysis-by-applications-functions-product-geography-2012-2017.html .

Explore more reports on Semiconductor and Electronics Market at http://www.reportsnreports.com/market-research/semiconductor-and-electronics/ .

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