Market Overview of Global Collaborative Robots:
The global collaborative robots market was worth USD 1.01 billion in 2021. The market is predicted to grow at a compound annual rate of growth (CAGR of 31.5 percent) between 2022 and 2030. The growth is due to the rising use of cobots or collaborative robots, in Small and Medium Enterprises. Cobots are employed by these businesses to communicate with each other and to automatize manufacturing processes. Technology advancements, such as the incorporation of Artificial Intelligence and Machine Learning (ML) and other technologies used in industrial robots have further accelerated this development.
Global Collaborative Robots Market Driving Factors:
Cobots' Utilization to Boost Market Development offers a significant return on investment
Cobots offer a higher return on investment than traditional industrial robots. They offer a high return on investment and appeal to small and medium-sized enterprises. There is also the possibility of the growth of robot installations in many countries. It's more expensive to implement collaborative robots that add additional machinery over standard robots.
Global Collaborative Robots Market Restraining factors:
Growth in the market is hindered by the high cost of production and a shortage of skilled workers
The forecast period is expected to see an impressive increase in global market growth. There are, however, some elements that may affect growth. This includes the initial high costs for procurement, integration, and programming, as well as maintenance. This can hinder growth. This is also caused due to a shortage of skilled workers in underdeveloped and emerging regions. The growth of global markets can be hindered by strict regulations from the government.
Global Collaborative Robots Key Market Trends:
Every day, the number of cars produced in the automotive industry is increasing. A proper maintenance program is crucial to reduce production times and improve output. Cobots have a lower cost of production per unit than conventional robotic systems. Cobots can also achieve higher throughput, based on the assembly procedure as opposed to conventional robotic systems. They are utilized in the manufacturing of automobiles. They can be utilized to assemble major components of the vehicle and complete the vehicle.
Global Collaborative Robots Market Latest New Developments:
OMRON Industrial Automation Europe signed a distribution agreement in the month of March 2021, with OnRobot, which is a Danish manufacturer of collaborative robot applications. This arrangement will allow OMRON to provide OnRobot products that are fully integrated into the OMRON robot, to all customers in Europe and the Middle East and Africa.
Mobile Industrial Robots, Universal Robots, and Universal Robots announced the expansion into a new cobot center in Odense and Denmark in February 2020. The project was made possible through the financial assistance of Teradyne (their parent company in the U.S.). This hub will attract new employees and will help boost the growth of the company.
Global Collaborative Robots Market: Principal Companies:
The Global collaborative robots market also includes ABB Group and DENSO Robotics, MRK Systeme GmbH, Energid Technologies Corporation, EPSON Robots, Fanuc Corporation, F& P Robotics AG, KUKA AG, and Other Key Players
Segmentation of the Global Collaborative Robots Market:
The global Collaborative Robot Market (Cobot) is divided into Payload as well as Industry and Application. Based on payload it is possible to be broken down into three segments: 5-10kg, More Than 10kg and Up to 5kg. The segment that is up to 5 kilograms is likely to drive the market's growth. Payload cobots that have lower payloads are smaller, and consequently more affordable than high-payload robots. They are therefore preferred by people who are first-time users.
FAQ:
- Which segment of the market had the largest share of robots that collaborated?
- What are the main drivers for the market for collaborative robots?
- What is the size of the market for collaborative robots in 2021?
- List the most important areas of business for Collaborative Robots.
- Name the major players in the Collaborative Robots market.
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