Global Collaborative Robots Market Is Anticipated To Grow At A CAGR Of ~26% Between 2019-2029

A new market research study by Future Market Insights on the collaborative robots market contains global industry analysis 2014–2018 and opportunity assessment 2019–2029. The report investigates the collaborative robots market and provides critical insights for the forecast period of 2019-2029. As per the findings of the report, the global collaborative robots market is anticipated to experience substantial growth over the forecast period due to multiple driving factors such as, growing adoption of automation in end-use industry and reduction in labor cost coupled with high precision work and high regional demand for collaborative robots.

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1. The global collaborative robots market size in 2018 was valued at ~US 650
2. The collaborative robots market is anticipated to grow at a CAGR of ~26% during the forecast period of 2019-2029.
3. The payload capacity up to 5kg segment of collaborative robots is expected to remain as the most preferred product type segment in the collaborative robots market.
   • The growth of this particular segment can be primarily attributed to the global growth of the collaborative robots market.
4. East Asia is likely to account for more than half of the revenue shares in the collaborative robots industry by the end of 2029.
   • East Asia will continue to be a significant market for collaborative robots manufacturers and distributors, owing to the increasing production and demand for collaborative robots in the automated industry.
5. The electronic and semiconductor segment is likely to continue as the prominent end-use industry, which creates significant growth opportunities for collaborative robots market players.
   • The electronic industry has witnessed significant growth over the recent past. The increased demand for high precision work, accuracy, and easy programing offered by built-in sensitivity of collaborative robots, is expected to propel the demand for collaborative robots.
   • Noteworthy application potential of collaborative robots such as assembly/disassembly, material handling, inspection and testing, stamping, etching and dispensing, are creating an upswing in the collaborative robots market.

Market Structure Analysis

• The global collaborative robots market is a moderately competitive market. Approximately ~40% share of the market is held by tier-1 players.
• Expansion of the business through mergers, acquisitions, collaborations, and alliances are the strategies followed by key players in the collaborative robots market. Key market players focus on strategies such as adoption of new technologies to develop innovative products, and further enlargement of sales and distribution channels.
• Noteworthy investments in the research and development for novel and sturdy products is projected to boost the growth prospects of the collaborative robots market.
  • Major players in the collaborative robots market are Universal Robots A/S, AUBO Robotics, Fanuc Corporation, Stäubli International AG, Robert Bosch GmbH, KUKA AG, Precise Automation, Inc., Denso Wave Incorporated, ABB Group, Yaskawa Electric Corporation, and K2 Kinetics.
• Global and local market players are benefiting from a significant marketing network of distributors. Local and international offices deliver sales and aftersales services to their customers to retain their customers’ base across tier 1 and tier 2 cities.

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Key Segment

By Payload Capacity

• Up to 5kg
• 5-10kg
• Above 10kg

By Application

• Welding
• Material Handling
• Quality Testing/Inspection
• General Assembly
• Painting/Spraying
• Others (Surgery, Cleaners, Institutional)

By End Use

• Automotive & Transportation
• Electronics & Semiconductors
• Food & Beverage
• Chemical & Pharmaceutical
• Logistics
• Healthcare
• Others (Plastic, Metal & Machinery, Furniture & Equipment

By Region

• Americas
• EMEA
• South Asia & Pacific
• East Asia

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Competitive Analysis:

The report highlights some of the prominent market players, who have established themselves as leaders in the global collaborative robots market. Few examples of key players in the market are Universal Robots A/S, AUBO Robotics, Denso Wave Incorporated, Fanuc Corporation, Stäubli International AG, Robert Bosch GmbH, KUKA AG, Precise Automation, Inc., ABB Group, Yaskawa Electric Corporation and K2 Kinetics among others. The global collaborative robots market is significantly dominated by some players holding prominent shares of the market. These players are indulging into strategic alliances, collaborations, mergers and acquisitions. For instance, ABB Group announced a collaboration with Kawasaki Heavy Industries Ltd. to share knowledge and are working on joint technical and awareness opportunities.