Collaborative Robots Market Size Worth $11.04 Billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, Aug. 9, 2022 /PRNewswire/ -- The global collaborative robots market size is anticipated to reach USD 11.04 billion by 2030, exhibiting a CAGR of 31.5% over the forecast period, according to a new report published by Grand View Research, Inc. The growth can be attributed to the growing inclination of industries toward collaborative robots or cobots to automate manufacturing processes.

Key Industry Insights & Findings from the report:

• The mounting adoption of collaborative robots in several industrial applications as they serve as assisting devices for humans and enhance the overall efficiency and quality of the manufacturing processes.
• The market is expected to witness strong growth in the coming years with the increasing adoption of cobots across small and medium enterprises as they are cost-effective and provide a higher return on investment.
• Europe captured a sizeable revenue share of more than 30.0% in 2021 across the industry owing to the increased product application in electronics, logistics, and inspection verticals.
• Key market players include ABB Group, EPSON Robots, DENSO Robotics, Energid Technologies Corporation, Fanuc Corporation, F&P Robotics AG, MRK-Systeme GmbH, and KUKA AG

Read 171-page market research report, "Collaborative Robots Market Size, Share & Trends Analysis Report By Payload Capacity, By Application (Assembly, Handling, Packaging, Quality Testing), By Vertical, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Collaborative Robots Market Growth & Trends

Over the past few years, the growing interest in robot technology across various industries has positively impacted the market. Unlike conventional industrial robots, cobots are developed to operate at par with their human counterparts. They are mobile and can be easily moved from one area of a manufacturing facility to another. Moreover, they can be programmed with ease, are more cost-effective than their fixed counterparts, and can be used in a wide range of low-speed, repetitive applications.

The increasing need for highly efficient and user-friendly robots that do not require highly skilled experts for deployment and functioning has created a significant demand for software platforms. These platforms allow the integration of robots, motion control, and the generation of an interface that enables the programming of such robots. For instance, in May 2020, Mitsubishi Electric Corporation launched a cobot named MELFA ASSISTA equipped with RT VisualBox, the company's engineering software. This software allows the intuitive creation of operating sequences by connecting block diagrams in a chain of events, including linking with other devices, such as cameras and hands of the robot.

The increasing demand from industrial customers, researchers, and engineers is further strengthening the outlook of the collaborative robots industry. These robots are being deployed across various industries and have been highly influential in addressing the challenges faced by the logistics sector, such as complex work processes, and managing several tasks in different combinations and in compact spaces.

Collaborative Robots Market Segmentation

Grand View Research has segmented the global collaborative robots market based on payload capacity, application, vertical, and region:

Collaborative Robots Market - Payload Capacity Outlook (Revenue, USD Billion, 2018 - 2030)

• Upto 5kg
• Upto 10kg
• Above 10kg

Collaborative Robots Market - Application Outlook (Revenue, USD Billion, 2018 - 2030)

• Assembly
• Pick & Place
• Handling
• Packaging
• Quality Testing
• Machine Tending
• Gluing & Welding
• Others

Collaborative Robots Market - Vertical Outlook (Revenue, USD Billion, 2018 - 2030)

• Automotive
• Food & Beverage
• Furniture & Equipment
• Plastic & Polymers
• Metal & Machinery
• Electronics
• Pharma
• Others

Collaborative Robots Market -    Regional Scope (Revenue, USD Billion, 2018 - 2030)

• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• U.K.
• France
• Asia Pacific
• China
• India
• Japan
• Latin America
• Brazil
• Middle East & Africa

List of Key Players in the Collaborative Robots Market

• ABB Group
• DENSO Robotics
• Epson Robots
• Energid Technologies Corporation
• F&P Robotics AG
• Fanuc Corporation
• KUKA AG
• MRK-Systeme GmbH
• Precise Automation, Inc
• Rethink Robotics, Inc
• Robert Bosch GmbH
• Universal Robots A/S
• Yaskawa Electric Corporation
• MABI Robotic AG
• Techman Robot Inc.
• Franks Emika Gmbh
• AUBO Robotics
• Comau S.p.A.

Check out more related studies published by Grand View Research:

• Interactive Whiteboard Market - The global interactive whiteboard market size is estimated to reach USD 2.8 billion by 2027, growing at a CAGR of 7.6% from 2020 to 2027, according to a study conducted by Grand View Research, Inc. Surging need for standalone systems for collaborative meetings and digital learning methods is expected to boost the demand for interactive whiteboards across the globe. Rising popularity of digital learning and increasing technological advancements are also responsible for driving the demand market for interactive whiteboard over the forecast period.
• Interactive Tables Market - The global interactive tables market size is expected to reach USD 1.5 billion by 2027, registering a CAGR of 7.2% over the forecast period, according to a new study by Grand View Research, Inc. Implementation of multi-touch technology in the education sector is expected to drive the market over the forecast period. Growing demand for digital classrooms that allow numerous students to work together for cooperative learning is expected to boost market growth.
• Interactive Display Market - The global interactive display market size is expected to reach USD 66.6 billion by 2027, registering a CAGR of 9.3% from 2020 to 2027, according to a new study by Grand View Research, Inc. Increasing adoption of interactive video walls in the education sector is expected to drive the market over the forecast period. In addition, the market growth can be attributed to escalating demand for digital teaching space that enhances the learning experience among teachers and students. Moreover, these video walls allow students to work together for collective learning.

Browse through Grand View Research's Display Technologies Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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