In 2021, the global collaborative robot market was valued at US$894.60 million. The market is projected to reach US$3.21 billion by 2026. A collaborative robot is a machine that works in conjunction with humans, such as by serving as a guide or assistant during a task or activity. In contrast to autonomous robots, which function mostly independently and without supervision, collaborative robots are designed and built to respond to human commands and actions. In order to ensure safe behavior, cobots are typically made to be lightweight and fitted with sensors.
Automation helps in increasing productivity, improving quality and reducing errors. Rising demand for automation has rapidly increased the adoption of robots in various industries. The growing demand for automation in industries and smart factories would drive the market growth. The collaborative robot market is expected to grow at a CAGR of 27.10% over the forecast period 2022 to 2026.
By Payload Capacity: The report identifies three segments on the basis of payload capacity: Up to 5 kg, 6-10 kg and 11 kg and above. In 2021, the up to 5 kg segment lead the market with a share of 42% of the market. Demand for small and low weight collabotative robot has increased in small scale industries. The collaborative robots of up to 5 kg payload capacity are suitable for limited production and can easily collaborate with humans. Moreover, the market is expected to grow at the highest CAGR, due to technological advancements in collaborative robots such as artificial intelligenece, machine learning, deeplearning, IoT, etc. The advanced collaboarative robots are capable of self adaptable learning. Rising preference of new consumers, low cost, minimal space requirement, and a low number of sensors the operation and control of up to 5kg payload are factors that are anticipated to boost the market growth.
By End User: The report includes bifurcation of the market into five segments on the basis of end user: Automotive, Food & Beverage, electronics, Plastic & Polymer and Others. The automative segement dominated the market by occupying almost one fourth share of the market in 2021. The automotive industry is one of the major end customers in the collaborative robot market. Vehicle manufacturing and many other industries greatly benefitted from the use of collaborative robots. The automotive industry began utilizing collaborative robots primarily on the assembly line once they were fully commercialized.
By Application: On the basis of application, the market is divded into eight segments: Material handling, Assembly, Pick & Place, Testing, Welding, Sorting, Positioning and Others. The material handling segment dominated the market in 2021 with a share of 32%. Collaborative robots for material handling automate the physically hard, hazardous, monotonous, and tedious tasks on a production line. By enhancing human capabilities, material handling cobots increase manufacturing efficiencies to manufacture goods of higher quality more quickly. All these factors benefited the growth of material handling segment.
By Region: In the report, the global collaborative robot market is divided into five regions: Asia Pacific, North America, Europe, Middle East & Africa and Latin America. Asia Pacific dominated the market by occupying almost half of the market in 2021. The factor driving the collaboratibve robot market in Asia Pacific is the presence of various global and domestic players especially in China. The growth in the region was primarily driven by the growing automation market in China. Furthermore, aging population and rising labor cost in several countries in the Asia Pacific region would drive the market growth in the coming years.
Growth drivers: The market has been growing over the past few years, due to factors such as rise of smart factories, growing electronics industry, working force moving toward tertiary industry, rising labor wage in manufacturing, growth in the automotive industry, rise in use of cobots by SMEs, etc. The number of smart factories has been growing quickly, since they cut costs and production process time. Robots and automation tools are everywhere in these smart factories. In the production process of smart factories, collaborative robots are crucial. Intelligent automation made possible by collaborative robots enables for the creation of safer, more effective workplaces where interaction between machines and people ensures that each of their individual qualities and skills are fully utilized.
Challenges: However, the market has been confronted with some challenges specifically, cyber security issues, speed issue, etc. Cyber security has become a serious issue to collaborative robot users. Since robots may acquire and keep a tremendous amount of personal information, therefore the risk of data breaches is increased. Robots may be the target of cyber or hacking assaults. A collaborative robot could manufacture components incorrectly if a hacker takes control of it. The manufacturer would be at risk of not being able to use whatever it is now developing in the future, which would result in huge losses. Further, more speed issue of collaborative robot would restrain the growth of the market.
Trends: The market is projected to grow at a fast pace during the forecast period, due to various latest trends such as advancements in robotics, 5G network exposure, end of arm tooling (EOAT), etc. New technologies are introduced to the collaborative robots so that cobots can perform difficult tasks. Artificial intelligence software combined with vision and other sensory technology allows robots to perform challenging tasks. Due new advancements adoption of collaborative robot is growing in the automotive sector. Moreover, 5G network brings up new opportunities for high-tech warehouses and industrial plants, where collaborative robots coexist with other cutting-edge technologies. The market would see a notable factors due to these factors.
People all throughout the world have been impacted financially and psychologically by the COVID-19 pandemic. Lockdowns and severe restrictions on air and land transport were implemented by Governments everywhere. Many governments were unable to control the virus despite the stringent limitations, leading to a high fatality rate in their respective nations. Till the end of 2019, the collaborative robot market growth trend was positive. However, the COVID-19 outbreak further restricted market expansion and investment in collaborative robots, which was expected to increase in 2020 but the market could not perform well due to the pandemic. This may also be explained by the fact that the largest original equipment manufacturer for collaborative robot was particularly heavily struck by the pandemic, which only exacerbated the issues for suppliers and manufacturers of collaborative robots at the time.
In spite of COVID-19's effects and uncertainties, merger and acquisition (M&A) activity in the robotics industry persisted in the first half of 2021. Due to the intense competition and businesses' desire to diversify their portfolios, a number of deals took place during that period. Moreover, the technological developments brought after COVID-19 outbreak is expected to assist the market growth further.
The key players of the global collaborative robot market are:
Automation helps in increasing productivity, improving quality and reducing errors. Rising demand for automation has rapidly increased the adoption of robots in various industries. The growing demand for automation in industries and smart factories would drive the market growth. The collaborative robot market is expected to grow at a CAGR of 27.10% over the forecast period 2022 to 2026.
Market Segmentation Analysis:
By Payload Capacity: The report identifies three segments on the basis of payload capacity: Up to 5 kg, 6-10 kg and 11 kg and above. In 2021, the up to 5 kg segment lead the market with a share of 42% of the market. Demand for small and low weight collabotative robot has increased in small scale industries. The collaborative robots of up to 5 kg payload capacity are suitable for limited production and can easily collaborate with humans. Moreover, the market is expected to grow at the highest CAGR, due to technological advancements in collaborative robots such as artificial intelligenece, machine learning, deeplearning, IoT, etc. The advanced collaboarative robots are capable of self adaptable learning. Rising preference of new consumers, low cost, minimal space requirement, and a low number of sensors the operation and control of up to 5kg payload are factors that are anticipated to boost the market growth.
By End User: The report includes bifurcation of the market into five segments on the basis of end user: Automotive, Food & Beverage, electronics, Plastic & Polymer and Others. The automative segement dominated the market by occupying almost one fourth share of the market in 2021. The automotive industry is one of the major end customers in the collaborative robot market. Vehicle manufacturing and many other industries greatly benefitted from the use of collaborative robots. The automotive industry began utilizing collaborative robots primarily on the assembly line once they were fully commercialized.
By Application: On the basis of application, the market is divded into eight segments: Material handling, Assembly, Pick & Place, Testing, Welding, Sorting, Positioning and Others. The material handling segment dominated the market in 2021 with a share of 32%. Collaborative robots for material handling automate the physically hard, hazardous, monotonous, and tedious tasks on a production line. By enhancing human capabilities, material handling cobots increase manufacturing efficiencies to manufacture goods of higher quality more quickly. All these factors benefited the growth of material handling segment.
By Region: In the report, the global collaborative robot market is divided into five regions: Asia Pacific, North America, Europe, Middle East & Africa and Latin America. Asia Pacific dominated the market by occupying almost half of the market in 2021. The factor driving the collaboratibve robot market in Asia Pacific is the presence of various global and domestic players especially in China. The growth in the region was primarily driven by the growing automation market in China. Furthermore, aging population and rising labor cost in several countries in the Asia Pacific region would drive the market growth in the coming years.
Global Collaborative Robot Market Dynamics:
Growth drivers: The market has been growing over the past few years, due to factors such as rise of smart factories, growing electronics industry, working force moving toward tertiary industry, rising labor wage in manufacturing, growth in the automotive industry, rise in use of cobots by SMEs, etc. The number of smart factories has been growing quickly, since they cut costs and production process time. Robots and automation tools are everywhere in these smart factories. In the production process of smart factories, collaborative robots are crucial. Intelligent automation made possible by collaborative robots enables for the creation of safer, more effective workplaces where interaction between machines and people ensures that each of their individual qualities and skills are fully utilized.
Challenges: However, the market has been confronted with some challenges specifically, cyber security issues, speed issue, etc. Cyber security has become a serious issue to collaborative robot users. Since robots may acquire and keep a tremendous amount of personal information, therefore the risk of data breaches is increased. Robots may be the target of cyber or hacking assaults. A collaborative robot could manufacture components incorrectly if a hacker takes control of it. The manufacturer would be at risk of not being able to use whatever it is now developing in the future, which would result in huge losses. Further, more speed issue of collaborative robot would restrain the growth of the market.
Trends: The market is projected to grow at a fast pace during the forecast period, due to various latest trends such as advancements in robotics, 5G network exposure, end of arm tooling (EOAT), etc. New technologies are introduced to the collaborative robots so that cobots can perform difficult tasks. Artificial intelligence software combined with vision and other sensory technology allows robots to perform challenging tasks. Due new advancements adoption of collaborative robot is growing in the automotive sector. Moreover, 5G network brings up new opportunities for high-tech warehouses and industrial plants, where collaborative robots coexist with other cutting-edge technologies. The market would see a notable factors due to these factors.
Impact Analysis of COVID-19 and Way Forward:
People all throughout the world have been impacted financially and psychologically by the COVID-19 pandemic. Lockdowns and severe restrictions on air and land transport were implemented by Governments everywhere. Many governments were unable to control the virus despite the stringent limitations, leading to a high fatality rate in their respective nations. Till the end of 2019, the collaborative robot market growth trend was positive. However, the COVID-19 outbreak further restricted market expansion and investment in collaborative robots, which was expected to increase in 2020 but the market could not perform well due to the pandemic. This may also be explained by the fact that the largest original equipment manufacturer for collaborative robot was particularly heavily struck by the pandemic, which only exacerbated the issues for suppliers and manufacturers of collaborative robots at the time.
In spite of COVID-19's effects and uncertainties, merger and acquisition (M&A) activity in the robotics industry persisted in the first half of 2021. Due to the intense competition and businesses' desire to diversify their portfolios, a number of deals took place during that period. Moreover, the technological developments brought after COVID-19 outbreak is expected to assist the market growth further.
Competitive Landscape:
The key players of the global collaborative robot market are:
- Teradyne Inc. (Universal Robot)
- Fanuc Corporation
- ABB Group
- KUKA Group
- Yaskawa Electric Corporation
- Kawasaki Heavy Industries
- Mitsubishi Electric Corporation
- Denso Corporation (DENSO Robotics)
- Omron Corporation
- Quanta Storage Inc. (Techman Robotics)
- HAHN Group (Rethink Robotics)
- Doosan Group
- AUBO Robotics
- F&P Robotics AG
Table of Contents
1. Executive Summary
2. Introduction
3. Global Market Analysis
4. Regional Market Analysis
5. Impact of COVID-19
6. Market Dynamics
7. Competitive Landscape
8. Company Profiles
List of Figures
Executive Summary
The report titled “Global Collaborative Robot Market: Analysis By Payload Capacity, By End User, By Application, By Region Size and Trends with Impact of COVID-19 and Forecast up to 2026”, provides an in depth analysis of the global collaborative robot market by value, by volume, by payload capacity, by end user, by application, by region, etc. The report also provides the detailed regional analysis of the global collaborative robot market, including the following regions : Asia Pacific (China, Japan, Korea Republic, India and Rest of Asia-Pacific), North America (The US, Canada, & Mexico), Europe (Germany, Italy, France, Spain, UK and Rest of Europe), Middle East & Africa and Latin America.
Scope of the Report:
The report titled “Global Collaborative Robot Market: Analysis By Payload Capacity, By End User, By Application, By Region Size and Trends with Impact of COVID-19 and Forecast up to 2026”, includes:- An in-depth analysis of the global collaborative robot market by payload capacity, by end user, by application, by region, etc.
- The regional analysis of the collaborative robot market, including the following regions:
- Asia Pacific (China, Japan, Korea Republic, India and Rest of Asia-Pacific)
- North America (The US, Canada, & Mexico)
- Europe (Germany, Italy, France, Spain, UK and Rest of Europe)
- Middle East & Africa
- Latin America
- Comprehensive information about emerging markets. This report analyses the market for various segments across geographies.
- Provides an analysis of the COVID-19 impact on the global collaborative robot market.
- Assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall collaborative robot market has also been forecasted for the period 2022-2026, taking into consideration the previous growth patterns, the growth drivers, and the current and future trends.
- Evaluation of the potential role of collaborative robot to improve the market status.
- Identification of new technological developments, R&D activities, and product launches occuring in the collaborative robot market.
- In-depth profiling of the key players, including the assessment of the business overview, market strategies, regional and business segments of the leading players in the market.
- The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
- The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
Companies Mentioned
- Teradyne Inc. (Universal Robot)
- Fanuc Corporation
- ABB Group
- KUKA Group
- Yaskawa Electric Corporation
- Kawasaki Heavy Industries
- Mitsubishi Electric Corporation
- Denso Corporation (DENSO Robotics)
- Omron Corporation
- Quanta Storage Inc. (Techman Robotics)
- HAHN Group (Rethink Robotics)
- Doosan Group
- AUBO Robotics
- F&P Robotics AG
