Collaborative Robots Market Report and Forecast 2024-2032

According to the report, the global collaborative robots market is projected to grow at a CAGR of 40.8% between 2024 and 2032 reaching a value of approximate USD 32.44 billion by 2032. Aided by easy handling and programmability of the cobots and strong presence of manufacturing sector, the market is expected to grow significantly by 2032.

Collaborative robots are a branch of robotics that focuses on developing machines capable of working harmoniously alongside humans without the requirement of physical separation or cages. They are designed with built-in safety features, making them highly suitable for a range of industries, from manufacturing and automotive to electronics and healthcare. With attributes like flexibility, affordability, and ease of programming, cobots have emerged as a viable tool for businesses looking to enhance productivity while ensuring the safety of their human workforce.

A significant factor spurring the global collaborative robots market demand is the ongoing shift towards automation in diverse industries. As businesses grapple with challenges like labour shortages, rising labour costs, and the need to improve precision and efficiency, cobots offer a compelling solution. Unlike their traditional robot counterparts, cobots are specifically designed to work in tandem with humans, ensuring flexibility and adaptability in various tasks, from simple pick-and-place operations to complex assembly tasks.

The rise in SMEs (Small and Medium-sized Enterprises) across developing economies also plays a pivotal role in the collaborative robots market expansion. Previously, automation and robotic solutions were primarily the domain of large-scale industries due to high costs. However, with the advent of affordable collaborative robots, SMEs are now actively integrating cobots into their operations, levelling the playing field and enhancing their competitiveness.

The healthcare sector offers another avenue for collaborative robots market growth. With the ongoing technological advancements, cobots are being deployed in medical settings for tasks such as rehabilitation, surgery assistance, and patient care. Their precision, combined with safety features, makes them apt for environments that demand utmost care and accuracy.

Additionally, the electronics and semiconductor sectors have shown a keen interest in collaborative robots. With miniaturisation trends and the growing demand for precision, cobots are being used for intricate tasks such as PCB (Printed Circuit Board) assembly, soldering, and inspection.

Safety remains a paramount concern in any industrial setting. Collaborative robots, with their inherent safety features like force-limited joints and real-time accident detection, ensure that they stop or slow down upon human contact, preventing potential injuries. This focus on safety, coupled with the adaptability of cobots, further propels their integration into varied industrial processes.

Innovations and R&D in the field of AI (Artificial Intelligence) and machine learning are expected to unlock new potential for the global collaborative robots market outlook. As these robots become smarter, their capability to understand and adapt to their surroundings will improve, making them even more valuable assets in dynamic industrial environments.

Market Segmentation

The market can be divided based on payload capacity, application, end use, and region.

Market Breakup by Payload Capacity

• Less than 5 Kg
• 5 to 10 Kg
• More than 10 Kg
• Others

Market Breakup by Application

• Material Handling
• Assembly
• Pick and Place
• Testing
• Welding
• Sorting
• Positioning
• Others

Market Breakup by End Use

• Automotive
• Food and Beverages
• Furniture and Equipment
• Plastic and Polymers
• Metal and Machinery
• Electronics
• Pharma
• Retail
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global collaborative robots market. Some of the major players explored in the report are as follows:

• Universal Robots A/S
• FANUC Corporation
• Techman Robot Inc.
• Rethink Robotics GmbH
• Festo OY
• ABB Ltd.
• Yaskawa Electric Corporation
• KUKA AG
• OMRON CORPORATION
• Kawasaki Heavy Industries Ltd.
• Others