Global Collaborative Robots Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Payload Capacity (Between 0 – 5 Kg, Between 5 – 10 Kg, More Than 10 Kg), By Component (Hardware (Sensor, Control System, Actuator, Others), Software, Services), By Application (Packaging, Assembly, Inspection, Machine Tending, Welding, Others), By End-User Industry (Automotive, Electronics And Semiconductor, Healthcare, Food And Beverage, Others), And By Geography - Forecasts From 2022 To 2027

The global collaborative robots market is projected to grow at a CAGR of 34.09% to reach US$6,087.813 million by 2027, from US$781.206 million in 2020.

Collaboration robots are robots that work in tandem with a human in the workplace. Some of the key elements driving demand for these robots are increased efficiency and production. In addition, booming expenditure on research and development to start-of-the-art products at competitive prices will further add to the growing demand for collaborative robots. However, the high expenditure involved with the security of the worker and the booming adoption of autonomous industrial robots is some of the factors restraining the market growth. North America and Europe maintained a sizable market share, while the Asia Pacific region would rise rapidly throughout the projection period.

The increased usage of collaborative robots, or cobots, in Small and Medium Enterprises can be attributed to the expansion.

These businesses are investing more in cobots to interact with people in a shared office and to automate production processes. Technological improvements and the use of Artificial Intelligence (AI) and Machine Learning (ML) technology in industrial robots have accelerated growth. The use of robots in industrial operations has also lowered the number of workplace accidents. Furthermore, they greatly increase product quality, which is increasing demand across numerous firms and industries. The growing use of cobots in semiconductors, automobiles, logistics, machine tooling, packing, and assembly applications is projected to change the market picture for collaborative robots in the near future. Furthermore, the market for collaborative robots is also getting more inexpensive, easier to operate, and less complex for training reasons. This will largely provide enterprises with more alternatives, boosting the push and demand for these robots. Because collaborative robots employ the latest sensors, connector technologies, and autonomous robot coding from CAD data, the ability to process of all sizes and levels remains competitive.

The automotive segment provides considerable growth to the market

The automotive sector has been witnessing significant growth in the number of units being produced. Cobots (collaborative robots) can easily achieve lower direct unit production costs with higher efficiency than traditional robotic systems, depending on the assembly process. The kinds of cobots used in the automotive industry are the ones that can be applied to auto part manufacturing (assembling major vehicle parts), as well as finished vehicle assembly. For instance, in 2021, according to the OICA, China was the leading market for motor vehicle production, with over 26 million cars and commercial vehicles being produced. Thus, utilizing these robots can reduce production cycles and increase production output. Collaborated robotics used for automotive applications has been experiencing a massive upsurge in recent times due to the proliferation of automotive plants in eminent Asian nations, like China, India, and Vietnam, and the growing demand for automotive robotics from automakers in North America. Various key automakers, like BMW, Mercedes Benz, and Ford, have been deploying cobots in their production floors to carry out several functions such as welding, car painting, and assembly line activities. In April 2021, Universal Robots, a Danish manufacturer of smaller flexible industrial collaborative robot arms, reached out to Malaysian automotive manufacturers to explore new opportunities to use robotic solutions, such as collaborative robots in automotive manufacturing facilities. This came up after the Malaysian Automotive, Robotics, and IoT Institute (MARii) stated that it was expecting the automotive industry, including Mobility as a Service (MaaS), to contribute about 10% of the gross domestic product The automotive industry has invested billions in the development of edge computing technology. According to Ericsson’s estimations, the total number of connected vehicles across the globe is expected to grow to around 700 million by 2025 and the data volume transmitted between the vehicles and the cloud may be around 100 petabytes per month. Thus, cobots have emerged as a fundamental game changer on the automotive factory floor.

Market Key Developments

• In March 2021, Comau S.p.A. introduced Racer-5, a low-cost cobot designed for packing and warehousing. This modern cobot operates at an industrial speed of up to 6 m/s and has a payload capacity of 5kg, allowing for smooth operations.
• In February 2021, the launch of the SWIFTI and GoFa cobot ranges by ABB Group increased its collaborative robot portfolio, enabling better speeds and payloads. This new range, which is quicker, stronger, and more powerful, complements ABB's cobot lineup of YuMi and Single Arm YuMi. It is intended to help high-growth industries such as consumer goods, electronics, medical, logistics, and food & beverage.
• In October 2021, OMRON Corporation signed a capital investment deal with Techman Robot, Inc, a well-known collaborative robot brand that operates on factory floors. OMRON will own around 10% of Techman.
• In June 2022, DOBOT announced the release of its new CR3L Collaborative Robot, which has a reach of 1700 mm, an 11.5% increase over the previous generation of its DOBOT CR Series. The CR3L's robotic body allows it to operate in confined places, making it ideal for applications needing extended-reach robots. In addition to the DOBOT CR3L robotic arm, the DOBOT CR Collaborative Robot Series has six distinct models with payloads ranging from 3kg to 16kg. The cobots work in a 6-axis mode, giving them a great deal of versatility.

Global Collaborative Robots Market Scope:

Segmentation

• By Payload Capacity
  • Between 0 – 5 Kg
  • Between 5 – 10 Kg
  • More than 10 Kg
• By Component
  • Hardware
    • Sensor
    • Control System
    • Actuator
    • Others
  • Software
  • Services
• By Application
  • Packaging
  • Assembly
  • Inspection
  • Machine Tending
  • Welding
  • Others
• By End-User Industry
  • Automotive
  • Electronics and Semiconductor
  • Healthcare
  • Food and Beverage
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • Thailand
    • Taiwan
    • India
    • Others