The global collaborative robot market is anticipated to reach $27.38 Billion by 2032, growing from $1.43 Billion in 2022 at a CAGR of 36.3% from 2023 to 2032. Collaborative robot, often referred to as a cobot, is a type of robot designed to work collaboratively with humans in a shared workspace. Unlike traditional industrial robots that are typically isolated in restricted areas for safety reasons, cobots are specifically designed to operate safely in close proximity to human operators without the need for physical barriers. Collaborative robots are typically more lightweight and flexible compared to traditional industrial robots. They are often designed to be easily programmable by non-experts, allowing operators to quickly teach the cobots new tasks or change their functionalities. This user-friendly interface makes cobots accessible and adaptable for various industries and applications.
The technological advancements, particularly in robotics are expected to drive the collaborative robot market growth. Improvements in sensors, artificial intelligence, machine learning, and vision systems have improved the skills of collaborative robots, making them more versatile and adaptable to various applications. Moreover, collaborative robots are equipped with advanced sensors that allow them to perceive their surroundings accurately. These sensors Include force/torque sensors, proximity sensors, and vision systems. The integration of high-quality sensors allows collaborative robots to interact safely with humans and their environment, making them suitable for collaborative workspaces. With AI algorithms, robots can analyze and interpret data from their sensors in real time. This enables them to make intelligent decisions, adapt to dynamic environments, and perform complex tasks. AI also facilitates human-robot interaction, as robots can understand human gestures, speech, and commands, improving their collaborative nature. Machine learning algorithms enable collaborative robots to acquire new abilities and improve their overall performance over time. By continuously analyzing data, robots can optimize their actions, research from their experiences, and become more efficient in their tasks. This capability enhances the versatility of collaborative robots, allowing them to handle a wider range of applications and adapt to evolving requirements.
Collaborative robots typically have lower payload capacities and slower operating speeds compared to traditional robots. These limitations can restrict their use in certain industrial applications that require heavy lifting or high-speed operations. Moreover, collaborative robots are designed to work safely together with humans without causing harm. They have built-in safety features such as force sensing, power and speed limitations, and collision detection. These safety measures often result in lower payload capacities compared to traditional robots, which are typically designed for heavy-duty tasks. Collaborative robots are more suitable for tasks that involve lighter objects or components. This factor is projected to act as a major restraining factor for the market revenue growth in the upcoming years.
The healthcare industry has been Incorporating automation and robotics to enhance efficiency, improve patient outcomes, and address the challenges posed by an aging population and Increased demand for healthcare services. Cobots can assist in patient care activities such as medication dispensing and routine check-ups. They can help limit the workload on healthcare professionals and ensure timely and accurate care for patients. Cobots can also provide real-time data and alerts, enabling healthcare providers to intervene when necessary. In surgical settings, cobots can assist surgeons by providing precise movements and improving surgical outcomes. They can support procedures that require delicate maneuvers or repetitive tasks, reducing the risk of human error and enhancing the overall accuracy and safety of surgeries. The use of cobots in the healthcare sector offers significant potential for enhancing patient care, improving efficiency, and addressing workforce challenges. As technology continues to advance and cobots become more capable and affordable, their adoption in the healthcare sector is expected to Increase, contributing to a more sustainable and patient-centric healthcare system.
The COVID-19 pandemic has had both positive and negative effects on the collaborative robot market. The pandemic highlighted the need for automation and social distancing in manufacturing and logistics, leading to an Increase in demand for cobots. Industries such as healthcare, e-commerce, food processing, and pharmaceuticals witnessed a surge in demand for cobots as they offer flexible and safe solutions for tasks that require human-robot collaboration. The pandemic caused disruptions in global supply chains, Including the production and distribution of cobots. Restrictions on manufacturing activities, temporary closures of factories, and logistical challenges led to delays in the delivery of cobots to customers, which affected the growth of the market during the pandemic. With the Increased focus on safety and hygiene in the post-pandemic world, cobots are expected to play a vital role. Cobots can perform repetitive and everyday tasks, reducing the need for human intervention and minimizing the risk of exposure to infectious diseases. This aspect is expected to further drive the adoption of cobots in various industries in the post-pandemic period.
The key players profiled in this report Include Universal Robots A/S, ABB, Fanuc Corporation, Denso Corporation, Techman Robot Inc., Omron Adept Technologies Inc., Doosan Robotics, Epson Robors, Robert Bosch GmbH, and F&P Robotics AG.
The technological advancements, particularly in robotics are expected to drive the collaborative robot market growth. Improvements in sensors, artificial intelligence, machine learning, and vision systems have improved the skills of collaborative robots, making them more versatile and adaptable to various applications. Moreover, collaborative robots are equipped with advanced sensors that allow them to perceive their surroundings accurately. These sensors Include force/torque sensors, proximity sensors, and vision systems. The integration of high-quality sensors allows collaborative robots to interact safely with humans and their environment, making them suitable for collaborative workspaces. With AI algorithms, robots can analyze and interpret data from their sensors in real time. This enables them to make intelligent decisions, adapt to dynamic environments, and perform complex tasks. AI also facilitates human-robot interaction, as robots can understand human gestures, speech, and commands, improving their collaborative nature. Machine learning algorithms enable collaborative robots to acquire new abilities and improve their overall performance over time. By continuously analyzing data, robots can optimize their actions, research from their experiences, and become more efficient in their tasks. This capability enhances the versatility of collaborative robots, allowing them to handle a wider range of applications and adapt to evolving requirements.
Collaborative robots typically have lower payload capacities and slower operating speeds compared to traditional robots. These limitations can restrict their use in certain industrial applications that require heavy lifting or high-speed operations. Moreover, collaborative robots are designed to work safely together with humans without causing harm. They have built-in safety features such as force sensing, power and speed limitations, and collision detection. These safety measures often result in lower payload capacities compared to traditional robots, which are typically designed for heavy-duty tasks. Collaborative robots are more suitable for tasks that involve lighter objects or components. This factor is projected to act as a major restraining factor for the market revenue growth in the upcoming years.
The healthcare industry has been Incorporating automation and robotics to enhance efficiency, improve patient outcomes, and address the challenges posed by an aging population and Increased demand for healthcare services. Cobots can assist in patient care activities such as medication dispensing and routine check-ups. They can help limit the workload on healthcare professionals and ensure timely and accurate care for patients. Cobots can also provide real-time data and alerts, enabling healthcare providers to intervene when necessary. In surgical settings, cobots can assist surgeons by providing precise movements and improving surgical outcomes. They can support procedures that require delicate maneuvers or repetitive tasks, reducing the risk of human error and enhancing the overall accuracy and safety of surgeries. The use of cobots in the healthcare sector offers significant potential for enhancing patient care, improving efficiency, and addressing workforce challenges. As technology continues to advance and cobots become more capable and affordable, their adoption in the healthcare sector is expected to Increase, contributing to a more sustainable and patient-centric healthcare system.
The COVID-19 pandemic has had both positive and negative effects on the collaborative robot market. The pandemic highlighted the need for automation and social distancing in manufacturing and logistics, leading to an Increase in demand for cobots. Industries such as healthcare, e-commerce, food processing, and pharmaceuticals witnessed a surge in demand for cobots as they offer flexible and safe solutions for tasks that require human-robot collaboration. The pandemic caused disruptions in global supply chains, Including the production and distribution of cobots. Restrictions on manufacturing activities, temporary closures of factories, and logistical challenges led to delays in the delivery of cobots to customers, which affected the growth of the market during the pandemic. With the Increased focus on safety and hygiene in the post-pandemic world, cobots are expected to play a vital role. Cobots can perform repetitive and everyday tasks, reducing the need for human intervention and minimizing the risk of exposure to infectious diseases. This aspect is expected to further drive the adoption of cobots in various industries in the post-pandemic period.
The key players profiled in this report Include Universal Robots A/S, ABB, Fanuc Corporation, Denso Corporation, Techman Robot Inc., Omron Adept Technologies Inc., Doosan Robotics, Epson Robors, Robert Bosch GmbH, and F&P Robotics AG.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the collaborative robot market analysis from 2022 to 2032 to identify the prevailing collaborative robot market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the collaborative robot market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report Includes the analysis of the regional as well as global collaborative robot market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Component
- Hardware
- Software
By Application
- Handling
- Assembling and Disassembling
- Welding and Soldering
- Dispensing
- Processing
- Others
By End-User
- Healthcare
- Others
- Automotive
- Electronics
- Metals and Machining
- Plastics and Polymers
- Furniture and Equipment
By Payload Capacity
- Up to 5Kg
- Up to 10Kg
- Above 10Kg
By Europe
- Germany
- France
- Italy
- Spain
- UK
- Rest of Europe
- Rest of Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
By North America
- Canada
- Mexico
- U.S.
By LAMEA
- Brazil
- UAE
- Saudi Arabia
- South Africa
- Rest of LAMEA
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: COLLABORATIVE ROBOT MARKET, BY COMPONENT
CHAPTER 5: COLLABORATIVE ROBOT MARKET, BY APPLICATION
CHAPTER 6: COLLABORATIVE ROBOT MARKET, BY END-USER
CHAPTER 7: COLLABORATIVE ROBOT MARKET, BY PAYLOAD CAPACITY
CHAPTER 8: COLLABORATIVE ROBOT MARKET, BY REGION
CHAPTER 9: COMPETITIVE LANDSCAPE
CHAPTER 10: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to a new report, titled, 'Collaborative Robot Market,' The collaborative robot market was valued at $1.4 billion in 2022, and is estimated to reach $27.4 billion by 2032, growing at a CAGR of 36.3% from 2023 to 2032. A collaborative robot (cobot) is a type of robot designed to work together with humans in a collaborative and interactive manner. Collaborative robots are equipped with various sensors and advanced technologies to ensure safe collaboration with humans. The applications of collaborative robots span across various industries, which include manufacturing, healthcare, logistics, and agriculture. They can be used for duties such as assembly, pick-and-place operations, machine tending, quality control, packaging, and repetitive tasks that can benefit from automation while still requiring human oversight or intervention.The emphasis on worker safety and compliance with stringent safety standards has driven the adoption of collaborative robots in various industries. Collaborative robots are engineered to prioritize worker safety. They are equipped with sensors and technologies that can detect the presence of people nearby, ensuring that they can slow down or stop their movements to prevent accidents or collisions. Force and torque sensors allow cobots to sense external forces, enabling them to quickly respond to any sudden contact with human beings and avoid causing harm. Moreover, regular industrial robots often require safety barriers to protect human workers from potential hazards. Collaborative robots, on the contrary, are designed to operate without the need for extensive safety barriers. Their advanced safety features, such as built-in collision detection and force issue capabilities, allow them to operate safely in shared workspaces with humans. The emphasis on worker security and compliance with safety standards has been a significant driver behind the adoption of collaborative robots.
However, some regulatory and legal considerations can pose restraints on the collaborative robot (cobot) market. Moreover, cobots need to comply with safety standards to ensure the well-being of human workers who interact with them. As cobots become more prevalent, regulators may introduce or update safety standards to address emerging concerns. Adhering to these standards can be challenging for companies, as it may require modifications to existing cobot designs or implementing additional safety measures. Furthermore, companies utilizing cobots must conduct thorough risk assessments to identify potential hazards and implement appropriate safeguards. This process can be time-consuming and resource-intensive, particularly in industries with complex work environments. Adhering to regulatory requirements for risk assessments may slow down the deployment of cobots and add extra costs for companies. All these are major factors projected to hamper the market revenue growth in the upcoming years.
The ongoing advancements in robotic technologies, such as artificial intelligence (AI), machine learning (ML), computer vision, and sensor technologies, are driving the improvement of more advanced and capable cobots. These technological improvements enhance the skills of cobots and enable them to perform a wider range of tasks with increased precision and efficiency. Furthermore, technologies like AI, ML, and computer vision have enabled cobots to become more intelligent and adaptable. They can learn from their environment, make autonomous decisions, and perform complex tasks with precision. The integration of advanced sensors and vision systems enables cobots to perceive their surroundings accurately. They can detect and respond to changes in the environment, ensuring safe and efficient operation. With improved precision and accuracy, cobots can perform repetitive tasks with minimal errors, reducing waste, and improving production efficiency. These factors are anticipated to boost market expansion in the upcoming years.
The collaborative robot market share is segmented on the basis of component, application, end user, payload capacity, and region. By component, it is classified into hardware and software. By application, it is classified into handling, assembling & disassembling, welding & soldering, dispensing, processing, and others. By end user, it is classified into automotive, electronics, metals & machining, plastics & polymers, furniture & equipment, healthcare, and others. By payload capacity, it is classified into up to 5kg, up to 10kg, and above 10kg. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the collaborative robot market report include Universal Robots A/S, ABB, Fanuc Corporation, Denso Corporation, Techman Robot Inc., Omron Adept Technologies Inc., Doosan Robotics, Epson Robors, Robert Bosch GmbH, and F&P Robotics AG.
The report offers a comprehensive analysis of the global collaborative robot market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards the growth of the market. The report also highlights the present scenario and upcoming trends & developments that are contributing toward the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with the Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and emergence of substitutes in the market.
Impact of COVID-19 on the Global Collaborative Robot Industry
The COVID-19 pandemic has had a significant impact on various industries, including the collaborative robot market. The pandemic highlighted the need for automation and contactless operations in healthcare and other essential industries. Collaborative robots have been used for tasks such as disinfection, patient care, and laboratory testing. The demand for cobots in these sectors has seen a surge due to their ability to reduce human contact and minimize the risk of virus transmission.The collaborative robot market, like many other industries, experienced disruptions in the supply chain during the pandemic. Factory shutdowns, travel restrictions, and reduced manufacturing capacities affected the production and distribution of cobots. These challenges resulted in delays and increased lead times for collaborative robot deployments.
The pandemic prompted companies to reevaluate their operations and seek ways to enhance productivity while ensuring the safety of their employees. Automation, including the use of collaborative robots, gained more attention as a solution. Businesses started to invest in cobots to streamline processes, increase efficiency, and reduce reliance on human labor, especially in scenarios where social distancing and limited workforce capacity were necessary. Social distancing norms, closed borders, and production constraints, due to the pandemic, across various countries such as China, India, and the U.S. have affected the global market.
Key Findings of the Study
- Based on component, the hardware sub-segment emerged as the global leader in 2022 and the software sub-segment is anticipated to be the fastest growing during the forecast period.
- Based on application, the assembling & disassembling sub-segment emerged as the global leader in 2022 and the welding & soldering sub-segment is predicted to show the fastest growth in the upcoming years.
- Based on end user, the automotive sub-segment emerged as the global leader in 2022 and the electronics sub-segment is predicted to show the fastest growth in the upcoming years.
- Based on payload capacity, the up to 5kg sub-segment emerged as the global leader in 2022 and is predicted to show the fastest growth in the upcoming years.
- Based on region, the Europe market registered the highest market share in 2022 and is projected to maintain its position during the forecast period.
Companies Mentioned
- ABB
- Denso Corporation.
- Doosan Robotics
- EPSON Robots
- FANUC Corporation
- F&P Robotics AG
- Omron Adept Technologies Inc
- Robert Bosch GmbH.
- techman Robot Inc
- Universal Robots A/S
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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