This report describes and explains the collaborative robots market and covers 2017-2022, termed the historic period, and 2022-2027 termed the forecast period, along with further forecasts for the period 2027-2032. The report evaluates the market across each region and for the major economies within each region.
The global collaborative robots market reached a value of nearly $1.994 billion in 2022, having grown at a compound annual growth rate (CAGR) of 28.61% since 2017. The market is expected to grow from $1.994 billion in 2022 to $7.115 billion in 2027 at a rate of 28.97%. The market is then expected to grow at a CAGR of 31.13% from 2027 and reach $27.58 billion in 2032.
Growth in the historic period resulted from strong economic growth in emerging markets growth, rising labor costs, growth in the industrial sector and rise in demand for automation. Factors that negatively affected growth in the historic period were the coronavirus pandemic and high initial investment.
Going forward, growth in the automotive industry, rise in e-commerce and logistics and rising urbanization will drive the growth. Factors that could hinder the growth of the collaborative robots market in the future include the Russia-Ukraine war impact and the rising interest rates.
The collaborative robots market is segmented by component into hardware and software. The hardware market was the largest segment of the collaborative robots market segmented by component, accounting for 70.42% of the total in 2022. Going forward, the software segment is expected to be the fastest growing segment in the collaborative robots market segmented by component, at a CAGR of 29.68% during 2022-2027.
The collaborative robots market is segmented by payload capacity into up to 5kg, up to 10kg, and above 10kg. The up to 5kg market was the largest segment of the collaborative robots market segmented by payload capacity, accounting for 48.15% of the total in 2022. Going forward, the above 10kg segment is expected to be the fastest growing segment in the collaborative robots market segmented by payload capacity, at a CAGR of 30.40% during 2022-2027.
The collaborative robots market is segmented by application into assembly, pick and place, handling, packaging, quality testing, gluing and welding, and other applications. The assembly market was the largest segment of the collaborative robots market segmented by application, accounting for 37.00% of the total in 2022. Going forward, the assembly segment is expected to be the fastest growing segment in the collaborative robots market segmented by application, at a CAGR of 29.32% during 2022-2027.
The collaborative robots market is segmented by vertical into automotive, chemicals and pharmaceutical, electronics, food and beverage, metal, new energy, plastic and polymers, semiconductors, logistics, and other verticals. The electronics market was the largest segment of the collaborative robots market segmented by vertical, accounting for 18.19% of the total in 2022. Going forward, the logistics segment is expected to be the fastest growing segment in the collaborative robots market segmented by vertical, at a CAGR of 31.83% during 2022-2027.
Asia-Pacific was the largest region in the collaborative robots market, accounting for 42.45% of the total in 2022. It was followed by North America, and then the other regions. Going forward, the fastest-growing regions in the collaborative robots market will be the Middle East and Eastern Europe where growth will be at CAGRs of 36.11% and 34.68% respectively. These will be followed by Africa and South America where the markets are expected to grow at CAGRs of 34.46% and 33.22% respectively.
The global collaborative robots market is highly concentrated, with large players in the market. The top ten competitors in the market made up to 83.47% of the total market in 2021. Teradyne was the largest competitor with 16.16% share of the market, followed by Fanuc Corporation with 12.63%, KUKA AG with 11.74%, Denso Corporation with 7.72%, ABB Group with 7.19%, Mitsubishi Electric with 6.85%, Yaskawa Electric Corporation with 6.30%, Doosan with 5.85%, Kawasaki Heavy Industries with 5.35%, and Omron Corporation with 3.69%.
The top opportunities in the collaborative robots market segmented by component will arise in the hardware segment, which will gain $3,546.91 million of global annual sales by 2027. The top opportunities in the collaborative robots market segmented by payload capacity will arise in the up to 5 kg segment, which will gain $2,358.37 million of global annual sales by 2027. The top opportunities in the collaborative robots market segmented by application will arise in the assembly segment, which will gain $1,930.33 million of global annual sales by 2027. The top opportunities in the collaborative robots market segmented by vertical will arise in the electronic segment, which will gain $876.09 million of global annual sales by 2027. The collaborative robots market size will gain the most in China at $1,212.77 million.
Market-trend-based strategies for the collaborative robots market include integration of collaborative robots with advanced technologies, product innovations, focus on new product launches, strategic partnerships and collaborations, and rising investments.
Player-adopted strategies in the collaborative robots market include focus on enhancing business operations through business expansions, strengthening operational capabilities through upgrading range of products, and enhancing business capabilities and operations through the launch of new products.
To take advantage of the opportunities, the analyst recommends the collaborative robots companies to focus on cobots with advanced technologies, focus on product innovations, focus on new product launches, expand in emerging markets, continue to focus on developed markets, focus on strategic partnerships and collaborations, provide competitively priced offerings, participate in trade shows and events, focus on B2B promotions, focus on the automotive sector, continue to focus on fast-growing applications, and target fast-growing end-use verticals.
The global collaborative robots market reached a value of nearly $1.994 billion in 2022, having grown at a compound annual growth rate (CAGR) of 28.61% since 2017. The market is expected to grow from $1.994 billion in 2022 to $7.115 billion in 2027 at a rate of 28.97%. The market is then expected to grow at a CAGR of 31.13% from 2027 and reach $27.58 billion in 2032.
Growth in the historic period resulted from strong economic growth in emerging markets growth, rising labor costs, growth in the industrial sector and rise in demand for automation. Factors that negatively affected growth in the historic period were the coronavirus pandemic and high initial investment.
Going forward, growth in the automotive industry, rise in e-commerce and logistics and rising urbanization will drive the growth. Factors that could hinder the growth of the collaborative robots market in the future include the Russia-Ukraine war impact and the rising interest rates.
The collaborative robots market is segmented by component into hardware and software. The hardware market was the largest segment of the collaborative robots market segmented by component, accounting for 70.42% of the total in 2022. Going forward, the software segment is expected to be the fastest growing segment in the collaborative robots market segmented by component, at a CAGR of 29.68% during 2022-2027.
The collaborative robots market is segmented by payload capacity into up to 5kg, up to 10kg, and above 10kg. The up to 5kg market was the largest segment of the collaborative robots market segmented by payload capacity, accounting for 48.15% of the total in 2022. Going forward, the above 10kg segment is expected to be the fastest growing segment in the collaborative robots market segmented by payload capacity, at a CAGR of 30.40% during 2022-2027.
The collaborative robots market is segmented by application into assembly, pick and place, handling, packaging, quality testing, gluing and welding, and other applications. The assembly market was the largest segment of the collaborative robots market segmented by application, accounting for 37.00% of the total in 2022. Going forward, the assembly segment is expected to be the fastest growing segment in the collaborative robots market segmented by application, at a CAGR of 29.32% during 2022-2027.
The collaborative robots market is segmented by vertical into automotive, chemicals and pharmaceutical, electronics, food and beverage, metal, new energy, plastic and polymers, semiconductors, logistics, and other verticals. The electronics market was the largest segment of the collaborative robots market segmented by vertical, accounting for 18.19% of the total in 2022. Going forward, the logistics segment is expected to be the fastest growing segment in the collaborative robots market segmented by vertical, at a CAGR of 31.83% during 2022-2027.
Asia-Pacific was the largest region in the collaborative robots market, accounting for 42.45% of the total in 2022. It was followed by North America, and then the other regions. Going forward, the fastest-growing regions in the collaborative robots market will be the Middle East and Eastern Europe where growth will be at CAGRs of 36.11% and 34.68% respectively. These will be followed by Africa and South America where the markets are expected to grow at CAGRs of 34.46% and 33.22% respectively.
The global collaborative robots market is highly concentrated, with large players in the market. The top ten competitors in the market made up to 83.47% of the total market in 2021. Teradyne was the largest competitor with 16.16% share of the market, followed by Fanuc Corporation with 12.63%, KUKA AG with 11.74%, Denso Corporation with 7.72%, ABB Group with 7.19%, Mitsubishi Electric with 6.85%, Yaskawa Electric Corporation with 6.30%, Doosan with 5.85%, Kawasaki Heavy Industries with 5.35%, and Omron Corporation with 3.69%.
The top opportunities in the collaborative robots market segmented by component will arise in the hardware segment, which will gain $3,546.91 million of global annual sales by 2027. The top opportunities in the collaborative robots market segmented by payload capacity will arise in the up to 5 kg segment, which will gain $2,358.37 million of global annual sales by 2027. The top opportunities in the collaborative robots market segmented by application will arise in the assembly segment, which will gain $1,930.33 million of global annual sales by 2027. The top opportunities in the collaborative robots market segmented by vertical will arise in the electronic segment, which will gain $876.09 million of global annual sales by 2027. The collaborative robots market size will gain the most in China at $1,212.77 million.
Market-trend-based strategies for the collaborative robots market include integration of collaborative robots with advanced technologies, product innovations, focus on new product launches, strategic partnerships and collaborations, and rising investments.
Player-adopted strategies in the collaborative robots market include focus on enhancing business operations through business expansions, strengthening operational capabilities through upgrading range of products, and enhancing business capabilities and operations through the launch of new products.
To take advantage of the opportunities, the analyst recommends the collaborative robots companies to focus on cobots with advanced technologies, focus on product innovations, focus on new product launches, expand in emerging markets, continue to focus on developed markets, focus on strategic partnerships and collaborations, provide competitively priced offerings, participate in trade shows and events, focus on B2B promotions, focus on the automotive sector, continue to focus on fast-growing applications, and target fast-growing end-use verticals.
Table of Contents
1. Executive Summary2. Table Of Contents3. List Of Figures4. List Of Tables5. Report Structure18. Competitive Landscape And Company Profiles
6. Introduction And Market Characteristics
7. Major Market Trends
8. Global Market Size and Growth
9. Global Collaborative Robots Market Segmentation
10. Collaborative Robots Market, Regional and Country Analysis
11. Asia-Pacific Market
12. Western Europe Market
13. Eastern Europe Market
14. North America Market
15. South America Market
16. Middle East Market
17. Africa Market
19. Company Profiles
20. Key Mergers And Acquisitions
21. Opportunities And Strategies
22. Collaborative Robots Market, Conclusions And Recommendations
23. Appendix
Executive Summary
Collaborative Robots Global Market Opportunities And Strategies To 2032 provides the strategists; marketers and senior management with the critical information they need to assess the global collaborative robots market as it emerges from the COVID-19 shut down.Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 12 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis
Description:
Where is the largest and fastest growing market for collaborative robots? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The collaborative robots market global report answers all these questions and many more.The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider collaborative robots market; and compares it with other markets.
The report covers the following chapters:
- Introduction and Market Characteristics - Brief introduction to the segmentations covered in the market, definitions, and explanations about the collaborative robots market.
- Key Trends - Highlights the major trends shaping the global collaborative robots market. This section also highlights likely future developments in the market.
- Global Market Size and Growth - Global historic (2017-2022) and forecast (2022 - 2027, 2032F) market values, and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional Analysis - Historic (2017-2022) and forecast (2022 - 2027, 2032F) market values and growth and market share comparison by region.
- Market Segmentation - Contains the market values (2017-2032) (2022 - 2027, 2032F) and analysis for each segment by component, by payload capacity, by application and by vertical in the market.
- Regional Market Size and Growth - Regional market size (2022), historic (2017-2022) and forecast (2022 - 2027, 2032F) market values, and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape - Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Key Mergers and Acquisitions - Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
- Market Opportunities And Strategies - Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations - This section includes recommendations for collaborative robots providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix - This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Scope:
Markets Covered:
1) By Component: Hardware; Software2) By Payload Capacity: Up To 5kg; Up To 10kg; Above 10kg
3) By Application: Assembly; Pick And Place; Handling; Packaging; Quality Testing; Gluing And Welding; Other Applications
4) By Vertical: Automotive; Chemicals And Pharmaceutical; Electronics; Food And Beverage; Metal; New Energy; Plastic And Polymers; Semiconductors; Logistics; Other Verticals
Companies Mentioned: Teradyne; Fanuc Corporation; KUKA AG; Denso Corporation; ABB Group.
Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Brazil; France; Germany; UK; Russia
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; collaborative robots indicators comparison.
Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Companies Mentioned
- Teradyne
- Fanuc Corporation
- KUKA AG
- Denso Corporation
- ABB Group.
- Mitsubishi Electric
- Yaskawa Electric Corporation
- Doosan
- Kawasaki Heavy Industries
- Omron Corporation
- HASCO
- AUBO
- Jaka Robotics
- United Robotics Group GmbH
- Melior Motion GmbH
- Kassow Robots ApS
- Schaeffler Technologies AG & Co. KG
- Universal Robots
- OnRobot
- Kinova
- CodeNinja
- Apollo Solutions Dev
- ViaObjects
- VR4
- Consensus group
- ITPS ONE
- Optimusrobo FZCO
- Unique World Robotics
- Seed Robotics
- Neo Robotics
- GLITZ Robotics
- Cobots
- Zipline
- TIRA ROBOTS
- Ryonic Robotics
- Arone
Methodology
LOADING...
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 319 |
| Published | October 2023 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 1.99 Billion |
| Forecasted Market Value ( USD | $ 27.58 Billion |
| Compound Annual Growth Rate | 30.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 36 |
