The global collaborative robots market size was valued at USD 649.1 million in 2018 and is projected to expand at the CAGR of 44.5%, from 2019 to 2025. The collaborative robot or cobot is intended to interact with humans in a shared workspace, physically. The growing adoption in the Small and Medium Enterprises (SMEs) and investments in automation of manufacturing processes are the key factor driving growth. Emergence of robots working along with humans in areas like smart parts assembly and electronics product assembly further fuels the demand.
Increasing demand for performing tasks requiring higher payload capacity is expected to contribute to the rising demand. The ability of cobots to work effectively with employees in an uncaged environment has led to an increased installation in the industry. The co-robots are designed with advanced sensors, software, and End of Arm Tooling (EOATs) that help prevent employee injuries.
Technological developments have led to the advancements across the robotic industry on a notable scale. Initially, these machines were expensive and came with limited or restricted functionalities such as a fixed axis or fixed rotation angles. However, with the advancements in technology, modern-day robots can perform amazing tasks efficiently and at a cheaper price. Moreover, they render a quick Return on Investments (ROI) owing to the optimization of overall expenditures and enhancement of the production rate.
Also, the deployment of robots in industrial practices has resulted in a decreased number of injuries and accidents occurring at workplaces. Also, it has elevated the quality of products and increased profits for a variety of businesses. The statistics and surveys validate the experience of the companies and enterprises adopting collaborative robots have realized huge financial reimbursements.
Industrial robots are witnessing a heavy demand across different industry verticals owing to their advantages and attractive ROI gained from the deployment of industrial robots. The cobots are anticipated to exhibit the fastest growth across the automotive, electronics, packaging and assembling, logistics, and machine tooling applications.
For instance, the retailer and giants of e-commerce such as Amazon are already adopting robotic technologies. These e-retailers, where logistics plays a prominent role in the entire supply chain, are actively embracing robotics to assist their laborers in warehouses. On account of the growing interest of the logistic sector in collaborative robots, the equipment manufacturers are designing robots within the logistic systems itself, in turn, reducing the technology expenditures and improving robotic capabilities to serve the exact client requirements.
Based on payload capacity, the collaborative robots market is segmented into up to 5kg, up to 10kg, and above 10kg. In 2018, cobots with up to 5kg payload capacity segment accounted for the largest market share, attributed to the flexibility, lightweight, and the capacity of the machine to optimize low-weight collaborative processes such as placing, picking, and testing.
Cobots above 10kg payload capacity is expected to witness significant growth, owing to their capability of handling bigger tasks requiring precision, reliability, and collaborating heavier-weight processes. The robots are anticipated to witness an exponential CAGR of 46.2% over the forecast period.
The application segment has been further categorized into assembly, pick and place, handling, packaging, quality testing, machine tending, gluing and welding, and others. In 2018, assembly application segment accounted for the largest market share owing to the ability to combine both repetitive and easy work along with more complex assembly processes.
Whereas, the rising adoption and applications of pick and place collaborative robot is expected to drive the segment growth over the forecast period. The co-robots are used in pick and place applications across verticals to reduce shrinkage and to increase accuracy while handling inventory. Pick and place robots are lightweight, small in size, and can be deployed in limited space.
Based on vertical, the market has been segmented into automotive, food and beverage, furniture and equipment, plastic and polymers, metal and machinery, electronics, pharmaceuticals, and others. The automotive industry accounted for a market share of 24% in 2018 and is expected to lead over the forecast period. The key factors such as reducing the cost of production downtime and reduction in the floor space are anticipated to boost the growth over the projected period.
Growing shift toward automation to save time and cost is a key factor spurring the adoption of robotic materials handling equipment in the automotive industry. The market is expected to remain innovation-led with the introduction of new metals and chemicals that provide cost-efficiency and weight reduction, and low-manufacturing overheads in automobile manufacture. The market is experiencing the emergence of several disruptors and technology integrators who are expected to offer high competition to the existing automobile manufacturers.
Europe is a key revenue-generating region and accounted for a significant market share of around 37% in 2018. The regional growth is attributed to the enormous application of cobots in different verticals such as electronics, logistics, and inspection. Also, the regional growth of the cobot technology can be attributed to various advantages such as increased collaboration and efficient manufacturing optimization solutions offered by automation at workplace.
Growing focus on quality and precision of cobots in Asia Pacific has necessitated the implementation of maximum standards, by increasing the deployment of cobots in the region. The ability of the technology to produce better quality products, increased efficiency, reduced wastage, and standardize products is expected to extensively increase the adoption of collaborative robots over the projected period. Furthermore, with a greater emphasis on automation, adoption of artificial intelligence, and all the other requisite technological evolutions, the market has a significant potential to grow rapidly over the forecast period.
The key players offering exclusive products and supplies include ABB Group; DENSO Robotics; EPSON Robots; Energid Technologies Corporation; F&P Robotics AG; Fanuc Corporation; KUKA AG; MRK-Systeme GmbH; Precise Automation, Inc.; Rethink Robotics, Inc.; Robert Bosch GmbH; Universal Robots A/S; Yaskawa Electric Corporation; MABI AG; Techman Robot by Quanta Storage, Inc.; Franka Emika GmbH; AUBO Robotics Inc.; and Comau S.p.A.
To gain a competitive edge in the market, players have entered into partnerships for the expansion of their product portfolio. For instance, in 2018, KUKA AG through its subsidiary KUKA Robotics Korea Co. Ltd. entered into a strategic partnership with the Hyundai Robotics-a robotics division of Hyundai Heavy Industries Holdings. The partnership has assisted the latter in extending its product portfolio in Korean geographies.
Attribute |
Details |
Base year for estimation |
2018 |
Actual estimates/Historical data |
2014 - 2017 |
Forecast period |
2019 - 2025 |
Market representation |
Revenue in USD Million & CAGR from 2019 to 2025 |
Regional scope |
North America, Europe, Asia-Pacific, South America, and MEA |
Country scope |
U.S., Canada, Mexico, U.K., Germany, France, China, Japan, India, and Brazil |
Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
15% free customization scope (equivalent to 5 analyst working days) |
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization. |
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2014 to 2025. For this study, Grand View Research has segmented the global collaborative robots market report based on payload capacity, application, vertical, and region:
Payload Capacity Outlook (Revenue, USD Million, 2014 - 2025)
Up to 5kg
Up to 10kg
Above 10kg
Application Outlook (Revenue, USD Million, 2014 - 2025)
Assembly
Pick & Place
Handling
Packaging
Quality Testing
Machine Tending
Gluing & Welding
Others
Vertical Outlook (Revenue, USD Million, 2014 - 2025)
Automotive
Food & Beverage
Furniture & Equipment
Plastic & Polymers
Metal & Machinery
Electronics
Pharma
Others
Regional Outlook (Revenue, USD Million, 2014 - 2025)
North America
The U.S.
Canada
Mexico
Europe
Germany
The U.K.
France
Asia Pacific
China
Japan
India
South America
Brazil
Middle East and Africa
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The ongoing COVID-19 outbreak has adversely affected the display industry with manufacturing operations temporarily suspended across major manufacturing hubs, leading to a substantial slowdown in the production. Major manufacturers including Samsung, LG Display, and Xiaomi among others have suspended their manufacturing operations in China, India, South Korea, and European countries. In addition to having an impact on the production, the ongoing pandemic has taken a toll on the consumer demand for display integrated devices, likely exacerbated by the lockdown imposed across major countries. Uncertainty regarding the possible length of lockdown makes it difficult to anticipate how and when a resurgence in the display industry will occur. On the flip side, increased demand for displays in medical equipment including ventilators and respirators is expected to keep the demand for displays afloat in the coming months. The report will account for Covid19 as a key market contributor.