Collaborative Robots Market by Function (Hand Guiding, Power & Force Limiting, Safety-Rated Monitored Stop), Payload Capacity (Above 10kg, Between 5 & 10kg, Up to 5 Kg), Component, Industry, Application - Global Forecast 2024-2030

Collaborative Robots Market by Function (Hand Guiding, Power & Force Limiting, Safety-Rated Monitored Stop), Payload Capacity (Above 10kg, Between 5 & 10kg, Up to 5 Kg), Component, Industry, Application - Global Forecast 2024-2030

The Collaborative Robots Market size was estimated at USD 2.38 billion in 2023 and expected to reach USD 3.43 billion in 2024, at a CAGR 46.37% to reach USD 34.36 billion by 2030.

Collaborative robots, commonly known as cobots, are engineered to work alongside human beings, performing tasks that range from simple, repetitive activities to complex processes. Unlike conventional industrial robots that operate within confined spaces, cobots are built with safety features that allow them to sense and respond to their human counterparts. This enables a synergistic relationship where humans and robots can share workspace and tasks without the risk of injury. The applications for collaborative robots are widespread and diverse, including but not limited to assembly, packaging, quality inspection, material handling, machine tending, and laboratory work. The end-use industries for cobots are similarly varied, encompassing automotive, electronics, metals and machining, plastics and polymer, food and beverage, healthcare, and others. The scope of the market extends globally, with a significant presence in both mature and emerging industrial nations. Growth in the collaborative robot market is largely driven by the robot's ability to increase efficiency and reduce operational costs. Other factors include growing demand attributed to automation, higher throughput, and better accuracy, the increasing penchant of industries toward automation and mobile cobots, adoption among SMEs due to low price coupled with high RoI, and rising integration of AI and improvement in the Machine Interface (HMI) to imitate human behavior. However, the adoption of collaborative robots is hindered by capability limitations related to safety, faster cycle time and repeatability, capital-intensive collaborative robots, issues related to massive deployment, and the development of better decision-making to work safely with humans. On the other hand, recent opportunities in the cobot market include expansion into small and medium-sized enterprises (SMEs), which was previously an untouched segment due to financial constraints. Technological innovations in the next-generation cobots and increasing adoption in manufacturing and industrial settings present potential opportunities for the market to grow in the coming years.

Regional Insights

North America, particularly the United States and Canada, is undergoing a robust expansion in the collaborative robots market due to the adoption of advanced manufacturing practices and industrial automation across sectors such as automotive, electronics, and healthcare. With a high concentration of cobot manufacturers and technology embracement, the North American market is expected to maintain a leadership position. In South America, countries such as Brazil and Argentina are at the forefront of the adoption of cobots in the region, driven by the need to improve manufacturing efficiencies and reduce operational costs. The automotive sector shows considerable interest, while small and medium-sized enterprises gradually integrate cobots into their production lines. The EU's collaborative robot market is mature, with significant adoption across Germany, Sweden, and Denmark. The EU has active government policies facilitating innovation, including funding programs such as Horizon Europe. There is a strong emphasis on worker safety and ergonomic assistance, propelling the use of cobots. Furthermore, the presence of pioneering cobot companies and research institutions in Europe contributes significantly to the region's market growth. The Middle East and Africa (MEA) exhibit a slower uptake in collaborative robots as industries are in the early stages of automation. However, there is an emerging interest, particularly in the Gulf Cooperation Council (GCC) countries, due to a strategic shift towards non-oil industries and the adoption of smart manufacturing processes. The APAC region is anticipated to experience a high growth rate in the collaborative robots market globally. This surge is led by China, Japan, South Korea, and Taiwan, with a high concentration of manufacturing and electronics industries. The region benefits from the availability of advanced technological infrastructure, a growing economy, and supportive government policies. Increasing labor costs and the pursuit to enhance productivity also drive the acceptance of cobots across various industry verticals. India shows growth potential with its 'Make in India' initiative, which aims to elevate the manufacturing sector.

Market Insights

• Market Dynamics
  
  The market dynamics represent an ever-changing landscape of the Collaborative Robots Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
  • Market Drivers
    • Growing Demand Attributed to Automation, Higher Throughout and Better Accuracy
    • Increasing Penchant of Industries toward Automation and Mobile Cobots
    • Adoption Among SMEs due to Low Price Coupled with High RoI
    • Rising Integration of AI and Improvement in the Human–Machine Interface (HMI) to Imitate Human Behavior
    • Market Restraints
      • Capability Limitations Related to Safety, Faster Cycle Time and Repeatability
      • Capital Intensive Collaborative Robots
      • Market Opportunities
        • Technological Innovations in the Next-Generation Cobots
        • Increasing Adoption in Manufacturing and Industrial Settings
        • Market Challenges
          • Issues Related to Massive Deployment
          • Developing Better Decision Making to Work Safely with Human
          • Market Segmentation Analysis
            • Function: Increasing usage of power & force limiting function of collaborative robots
            • Component: Rising usage of hardware components in collaborative robots
            • Industry: Growing demand for collaborative robots from the automotive industry for assembling, welding, and painting.
            • Application: Expanding application of collaborative robots for packaging & palletizing
            • Market Disruption Analysis
            • Porter’s Five Forces Analysis
            • Value Chain & Critical Path Analysis
            • Pricing Analysis
            • Technology Analysis
            • Patent Analysis
            • Trade Analysis
            • Regulatory Framework Analysis
            FPNV Positioning Matrix
            
            The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Collaborative Robots Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
            
            Market Share Analysis
            
            The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Collaborative Robots Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
            
            Recent Developments
            • Universal Robots continues its innovation journey by launching new 30 kg collaborative robot
              
              Universal Robots has announced plans to expand its leading product portfolio with UR30, a new 30 kg payload cobot. UR30 combines a compact form with a high-performance lift capacity, ensuring precision handling of significant loads, making it ideal for several applications, including machine tending, material handling, and high torque screw driving.
              
              Agile Robots acquires Franka Emika
              
              Agile Robots AG has acquired Franka Emika GmbH, the developer of the Panda collaborative robot (cobot) arm. This merger is envisioned as a stepping stone towards cultivating a Bavarian tech powerhouse with international reach, exemplifying a commitment to advancing Industry 5.0.
              
              South Korea's Doosan Robotics opens books for USD 318 million IPO
              
              Doosan Robotics Inc. has embarked on an Initial Public Offering (IPO) that might garner up to USD 318.3 million. The insightful move involved issuing 16.2 million shares, with a price range set between USD 15.60 and 19.32 won per share.
            Strategy Analysis & Recommendation
            
            The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Collaborative Robots Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
            
            Key Company Profiles
            
            The report delves into recent significant developments in the Collaborative Robots Market, highlighting leading vendors and their innovative profiles. These include ABB Ltd., Aubo (Beijing) Robotics Technology Co., Ltd, AutoGuide Mobile Robots, Comau S.p.A., Demaurex SA, DENSO WAVE INCORPORATED., Doosan Robotics Inc., Edgewater Automation, LLC, Elephant Robotics, Epson America, Inc., F&P Robotics AG, Fanuc Corporation, Franka Emika GMBH by Agile Robots AG, Hanwha Corporation, JAKA Robotics Co., Ltd., Kassow Robots ApS, Kawada Robotics Corporation, Kawasaki Heavy Industries, Ltd., Kuka AG, Locus Robotics Corporation, MABI Robotic AG, MRK-Systeme GmbH, Neura Robotics GmbH, ONExia Inc., Productive Robotics, LLC, PROMATION INC., Rethink Robotics GmbH by HAHN Group, Robert Bosch GmbH, Shenzhen Yuejiang Technology Co., Ltd., Stäubli International AG, Suzhou Elite Robot Co., Ltd., Techman Robot Inc., Telefonaktiebolaget LM Ericsson, Universal Robots A/S, and Yaskawa Electric Corporation.
            
            Market Segmentation & Coverage
            
            This research report categorizes the Collaborative Robots Market to forecast the revenues and analyze trends in each of the following sub-markets:
            • Function
              • Hand Guiding
              • Power & Force Limiting
              • Safety-Rated Monitored Stop
              • Speed Reduction & Separation Monitoring
              • Payload Capacity
                • Above 10kg
                • Between 5 & 10kg
                • Up to 5 Kg
                • Component
                  • Hardware
                    • Controller
                    • Drive
                    • End Effector
                    • Sensor
                    • Software
                    • Industry
                      • Automotive
                      • Electronics
                      • Food & Beverages
                      • Furniture & Equipment
                      • Healthcare
                      • Metals & Machining
                      • Plastics & Polymers
                      • Application
                        • Assembly
                        • Gluing & Welding
                        • Machine Tending
                        • Material Handling
                        • Packaging & Palletizing
                        • Pick & Place
                        • Quality Testing
                        • Region
                          • Americas
                            • Argentina
                            • Brazil
                            • Canada
                            • Mexico
                            • United States
                              • California
                              • Florida
                              • Illinois
                              • New York
                              • Ohio
                              • Pennsylvania
                              • Texas
                              • Asia-Pacific
                                • Australia
                                • China
                                • India
                                • Indonesia
                                • Japan
                                • Malaysia
                                • Philippines
                                • Singapore
                                • South Korea
                                • Taiwan
                                • Thailand
                                • Vietnam
                                • Europe, Middle East & Africa
                                  • Denmark
                                  • Egypt
                                  • Finland
                                  • France
                                  • Germany
                                  • Israel
                                  • Italy
                                  • Netherlands
                                  • Nigeria
                                  • Norway
                                  • Poland
                                  • Qatar
                                  • Russia
                                  • Saudi Arabia
                                  • South Africa
                                  • Spain
                                  • Sweden
                                  • Switzerland
                                  • Turkey
                                  • United Arab Emirates
                                  • United Kingdom
                                  
                                  
                                  Please Note: PDF & Excel + Online Access - 1 Year