The global collaborative robots market is projected to grow at a CAGR of 42.85% to reach US$4,640.319 million by 2024, from US$546.150 million in 2018.
Collaboration robots are robots that work in tandem with a human at a workplace. Increasing efficiency and improvement in productivity are some of the major factors driving the demand for these robots. In addition, booming expenditure on research and development so as to start-of-the-art products at competitive prices will further add to the growing demand for the collaborative robot. However, the high expenditure involved with the security of the worker and booming adoption of autonomous industrial robots is some of the factors restraining the market growth. North America and Europe held a significant market share and the Asia Pacific region will witness impressive growth during the forecast period.
This research study examines the current market trends related to demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases, and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top-down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the global collaborative robots value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining a faster and efficient understanding of the global collaborative robots market.
Major industry players profiled as part of the report are Universal Robots, ABB, FANUC Corporation, KUKA AG, Energid Technologies Corporation, HAHN Robotics, Robert Bosch Manufacturing Solutions GmbH, and Precise Automation, Inc. among others.
| Report Metric | Details |
| Market size value in 2018 | US$546.150 million |
| Market size value in 2024 | US$4,640.319 million |
| Growth Rate | CAGR of 42.85% from 2018 to 2024 |
| Base year | 2018 |
| Forecast period | 2019–2024 |
| Forecast Unit (Value) | USD Million |
| Segments covered | Payload Capacity, Component, Application, End-User Industry, And Geography |
| Regions covered | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| Companies covered | Universal Robots, ABB, FANUC Corporation, KUKA AG, Energid Technologies Corporation, HAHN Robotics, Robert Bosch Manufacturing Solutions GmbH, Precise Automation, Inc., F & P Robotics AG, Yaskawa Electric Corporation |
| Customization scope | Free report customization with purchase |
Segmentation
The global collaborative robots market has been analyzed through the following segments:
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
Others
South America
Brazil
Argentina
Others
Europe
Germany
France
United Kingdom
Spain
Others
Middle East and Africa
Saudi Arabia
Israel
Others
Asia Pacific
China
Japan
South Korea
India
Others
Frequently Asked Questions (FAQs)
Q1. What will be the collaborative robots market size by 2024?
A1. The global collaborative robots market is projected to reach a market size of US$4,640.319 million by 2024.
Q2. What is the size of the global collaborative robots market?
A2. Collaborative Robots Market was valued at US$546.150 million in 2018.
Q3. What are the growth prospects for the collaborative robots market?
A3. The collaborative robots market is projected to grow at a CAGR of 42.85% during the forecast period.
Q4. What factors are anticipated to drive the collaborative robots market growth?
A4. Increasing efficiency and improvement in productivity are some of the major factors driving the demand for these robots.
Q5. Which region holds the largest market share in the collaborative robots market?
A5. North America and Europe held a significant market share and the Asia Pacific region will witness impressive growth during the forecast period.
Universal Robots
ABB
FANUC Corporation
KUKA AG
Energid Technologies Corporation
HAHN Robotics
Robert Bosch Manufacturing Solutions GmbH
Precise Automation, Inc.
F & P Robotics AG
Yaskawa Electric Corporation
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