The global collaborative robots (cobots) market is projected to be worth USD 18 billion by 2030, growing at a CAGR of 34.4%, claims Roots Analysis

News provided by

17 Sep, 2020, 16:30 GMT

Over the years, various industry stakeholders have actively invested in the development and implementation of automation technologies for manufacturing operations, in order to minimize expenditure on labor, reduce manual errors and optimize their existing processes

LONDON, Sept. 17, 2020 /PRNewswire/ -- Roots Analysis has announced the addition of "Global Collaborative Robots (Cobots) Market, 2020-2030" report to its list of offerings.

Collaborative robots or cobots allow companies to automate their processes, are easy to program and deploy, can increase productivity manifolds, and offer high returns on investment. It is worth noting that, according to the International Federation of Robotics (IFR), over time, the cost of cobots has decreased owing to growing demand for such machines across various industries, including automobiles, electronics / electrical goods, food and beverages, as well as life sciences / pharmaceuticals.

To order this 245+ page report, which features 80+ figures and 100+ tables, please visit this link

Key Market Insights

More than 250 cobots are currently available in the market / yet to be launched

Over 70% of the aforementioned cobots are designed to have six degrees of freedom. Further, 50% cobots have payload capacity below 6 Kg. It is worth mentioning that, usually, low payload cobots are preferred by small companies, as such models are cheaper and take up less space.

20% marketed cobots are capable of performing multiple operations across various industries

Around 121 cobots are being used to perform packaging operations, followed by those designed for executing operations related to picking and placing (116) and small part assembly (87). In terms of end-users, about 65% of the approved cobots are installed in life sciences / pharmaceutical industry.

Currently, around 80 players are actively involved in the development of cobots

Majority of the initiatives in this domain are driven by start-ups / small firms. Further, more than 45% companies engaged in this domain are mid-sized and large firms.

Nearly 60% of the cobot manufacturers are based in developed regions

Within Europe, most of the manufacturers are distributed across Germany, France, Switzerland and Denmark, whereas in Asia-Pacific, majority of the manufacturers are headquartered in China. Further, a significant number of such players (25%) are headquartered in North America, with 16 players based in the US.

By 2030, Europe and Asia-Pacific are anticipated to capture over 65% of the market opportunity

The market in European regions is anticipated to grow at a relatively faster rate. In terms of end-users, by 2030, cobots intended for use in automotive industry are likely to represent the largest share of the market, followed by those employed in the electrical industry.

To request a sample copy / brochure of this report, please visit this link

Key Questions Answered

What are the key benefits and current limitations associated with the use of cobots?
Who are the leading players engaged in the manufacturing of cobots?
What are the most popular industrial applications of cobots?
What is the likely cost saving opportunity associated with the use of cobots?
How can end users prepare their workforce for interaction with cobots?
What impact is the recent COVID-19 pandemic likely to have on the global cobots market?
What opportunities are available for cobots manufacturers in emerging markets?
How is the current and future opportunity likely to be distributed across key market segments?
What are the anticipated future trends within the cobots market?

The USD 18 billion (by 2030) financial opportunity within the global cobots market has been analyzed across the following segments:

Payload Capacity

Below 6 Kg
Between 6 and 10 Kg
Above 10 Kg

Industrial Operation

Small Part Assembly
Case Packing
Material Handling
Palletizing / Depalletizing
Picking and Placing
Welding
Other Operations

End-User (Industry)

Automotive Industry
Food Processing Industry
Electrical / Electronic Industry
Plastic and Rubber Industry
Life Sciences / Pharmaceutical Industry
Metal Industry
Others

Key Geographical Regions

North America
Europe
Asia-Pacific and the Rest of the World

The report features inputs from eminent industry stakeholders, according to whom, there is a significant increase in the adoption of cobots. Further, the market for global cobots is expected to grow at faster pace, as compared to market for industrial robots. The report includes detailed transcripts of the discussions held with industry experts:

Mineko Ogata (Owner, ROBOMOV)
David Sands (Chief Executive Officer, ST Robotics)
Barry Philips (Chief Marketing Officer, Fetch Robotics)
Brian Carlisle (President, Precise Automation)
Nilabdhi Samantray (Associate Vice President, Head of Data Science and Artificial Intelligence, Sector Leader (Mines and Minerals), CSM Technologies)
John Kehoe (Managing Director, Tekpak Automation)
Andreas Czezatke (Global Project Leader, SMC Austria)
Nelija Miseikiene (Sales and Marketing Specialist, F&P Robotics)
Michael Murray (Sales Specialist, Productive Robotics)
Aadya Avinash (Assistant Marketing Manager, Universal Robots)

The research includes profiles of prominent players engaged in this domain (listed below); each profile features an overview of the developer, details related to their product portfolio, recent developments and an informed future outlook.