A Mobile Cobots Market Forecasts to 2028 – Global Analysis By Component (Hardware, Software and Services), Capacity (1 to 3 kg, 3 to 5 kg, 5 to 10 kg and Above 10 Kg)

Mobile Cobots Market Forecasts to 2028 – Global Analysis By Component (Hardware, Software and Services), Capacity (1 to 3 kg, 3 to 5 kg, 5 to 10 kg and Above 10 Kg), Application (Assembly, Material Handling, Machine Tending, Process, Quality Inspections and Others Applications), End User and By Geography

According to Stratistics MRC, the Mobile Cobots Market is accounted for $1.25 billion in 2022 and is expected to reach $4.26 billion by 2028 growing at a CAGR of 22.7% during the forecast period. Mobile Cobots are created by combining mobile robots with collaborative mobile manipulators or end effectors. Companies benefit from the combination of collaborative and mobile robots because it allows them to quickly and cost-effectively modify their production lines to new specifications and changing business needs.

According to Oxford Economics, in August 2020, around 34% of the manufacturers have prioritized investing in Artificial Intelligence (AI), 33% in IoT, and 14% in robotic process automation (RPA). The investment into these automation techniques can help the industries to increase the efficiency of the finance function by 38% and maximize the efficiency of the IT function by 45%.

Market Dynamics:

Driver:

Becoming commercialized

Due to the growing acceptance of collaborative cobots across numerous industries to boost productivity and protect worker safety, mobile cobots are becoming more and more commercialised. For robotics businesses in the market for mobile cobots, flexibility in addressing a variety of business and production unit requirements is a major client appeal. The market for mobile cobots is seeing revenue development due to the end effectors' rising appeal as a result of their adaptability in various applications. This is expected to drive the mobile cobots market during the forecast period.

Restraint:

Cobots are not a good choice when it comes to higher loads

Costs are associated with flexibility. Although certain types are capable of carrying up to 35kg, cobots normally manage payloads of 3 to 10 kg. On the other hand, depending on the application, some six-axis robots have a handling capacity of up to 2 tonnes. Cobots are not designed for heavy-duty applications, that much is clear. This factor is expected to affect mobile cobots market growth to a certain extent.

Opportunity:

Industry 5.0 is expected to open lucrative

Humans are being reintroduced into the automation loop in Industry 5.0. As a result, people and robots can collaborate more intimately and productively. The development of Industry 5.0 has been accelerated by the introduction of faster, smaller, and more flexible cobots. It offers sophisticated safety features that allow humans to play a significant role in a wider variety of production processes. The current interaction between automated systems and workers in production facilities is likely to change as Industry 5.0 becomes more prevalent. The cobots also provide numerous industries with improved performance and profitability.

Threat:

Cobot speed is limited

Cobot cannot operate at fast speeds because safety is its primary concern, especially when additional safety precautions are applied, as was indicated above. A typical cobot moves at 250mm per second, which is four times slower than an industrial robot's normal speed. The cobot slow down to ensure user safety when they engage with it, which increases cycle time. Therefore, it is generally not advised to use cobots for applications that require fast speed.

Covid-19 Impact:

The COVID-19 pandemic has proven the crucial role that telecommunications infrastructure plays in keeping businesses, governments, and society linked and running, maybe more than any other event in human history. The social distance regulations and stay-at-home restrictions have had a significant negative impact on some enterprises, but it was necessary for industries like electronics, medical supplies, and FNB to allow remote working. The result represents the culmination of various initiatives throughout the COVID-19 epidemic. In order to speed up the production of medical supplies including masks, hand sanitizers, gloves, ventilators, etc., many firms have reconfigured their production lines.

The hardware is expected to be the largest during the forecast period

Based on the component, the market is classified into Hardware, Software and Services. The hardware segment is projected to control the global mobile cobots market and most liable explanation for the majority of the share during the forecast period. The hardware segment has been further divided into collaborative arm, AMR, vision systems, and other accessories. Due to the adaptability and flexibility of the end effectors, a wide range of jobs can be completed, maximizing return on investment.

The 3 to 5 kg segment is expected to have the highest CAGR during the forecast period

Based on the weight capacity, the market is classified into 1 to 3 kg, 3 to 5 kg, 5 to 10 kg and Above 10 Kg. The 3 to 5 kg segment is anticipated to witness the fastest CAGR growth during the forecast period, as the primary factor boosting the global mobile cobots market is decline in costs of collaborative robots over the last few years. Several mobile cobot manufacturers are currently concentrating on research and development operations in order to create cutting-edge mobile cobot applications in order to meet the global demand. Cobots are becoming more and more popular across a variety of industries and manufacturing businesses.

Region with highest share:

The Europe region market is estimated to witness a highest share of the global mobile cobots market during the forecast period, owing to significant investment in autonomous and mobile robotics research & development has increased the possibility for profit for regional market participants. Increasing interest along with investments by well-known industry players and incomplete collaborative efforts are accountable for regional growth.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period. Many businesses have switched to mobile cobots as a result of the region’s escalating labour costs. The region is anticipated to keep its status as the greatest industrial hub in the anticipated timeframe, leading to an increase in demand for mobile cobots in the years to come. The advancements made by Industry 4.0 and the growing adoption of small payload mobile cobots will drive abundant profitable avenues in the coming years.

Key players in the market

Some of the key players in the Mobile Cobots market include ABB, Addverb Technologies Private Limited, KUKA AG, Yasakawa Electric Corporation, Wyzo, Universal Robots, TECHMAN ROBOT INC, Stäubli International AG, SICK, Robotnik, Doosan Robotics Inc., Aubo Robotics, Rethink Robotics, OMRON Corporation, Mobile Industrial Robots A/S., HTE Technologies, Fanuc Corporation, Aethon Inc.

Key Developments:

In August 2022, KUKA AG received record orders in the first half-year for despite a difficult economic situation. Strong demand for automation worldwide, orders received reach highest level in KUKA’s history in first half-year, orders in China nearly doubled.

In June 2022, Universal Robots, the Denmark-based manufacturer of collaborative robots (cobots), announced that it is estimated to add a new 20 kg cobot to its product range.

In April 2021, Doosan Robotics Inc. announced the release of the Doosan ROS 2 package, compatible with the latest ROS 2 Foxy Fitzroy. Releasing the package in early 2021, Doosan Robotics positions itself as the first to operate collaborative robots driven by the newest version of ROS 2.

Components Covered:
• Hardware
• Software
• Services

Capacities Covered:
• 1 to 3 kg
• 3 to 5 kg
• 5 to 10 kg
• Above 10 Kg

Applications Covered:
• Assembly
• Material Handling
• Machine Tending
• Process (Material Removal/gluing/dispensing/welding/finishing)
• Quality Inspections
• Others Applications

End Users Covered:
• Automotive
• Aerospace and Defense
• Retail
• Food and Beverage
• Healthcare
• Electronics & Semiconductor
• Others End Users


Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements