Collaborative Robots Market To Hit Value .04 Billion By 2030 |Grand View Research, Inc.Posted by Mrudula Anil Karmarkar on August 14th, 2023 San Francisco, 14 August 2023: The ReportCollaborative Robots MarketSize, Share & Trends Analysis Report By Payload Capacity, By Application (Assembly, Handling, Packaging, Quality Testing), By Vertical, By Region, And Segment Forecasts, 2023 - 2030 The global collaborative robots market size is anticipated to reach USD 11.04 billion by 2030, exhibiting a CAGR of 32.0% over the forecast period, according to a new report published by Grand View Research, Inc. The growth can be credited to the growing inclination of industries toward collaborative robots or cobots to automate manufacturing processes. Over the past few years, the growing interest in robot technology across various industries has positively impacted the collaborative robots industry. Unlike conventional industrial robots, cobots are developed to operate at par with their human counterparts. They are mobile and can be easily moved from one area of a manufacturing facility to another. Moreover, they can be programmed with ease, are more cost-effective than their fixed counterparts, and can be used in a wide range of low-speed, repetitive applications. The increasing need for highly efficient and user-friendly robots that do not require highly skilled experts for deployment and functioning has created a significant demand for software platforms. These platforms allow the integration of robots, motion control, and the generation of an interface that enables the programming of such robots. For instance, Mitsubishi Electric Corporation has launched a cobot named MELFA ASSISTA equipped with RT VisualBox, the company’s engineering software. This software allows the intuitive creation of operating sequences by connecting block diagrams in a chain of events, including linking with other devices, such as cameras and the hands of the robot. The increasing demand from industrial customers, researchers, and engineers further strengthens the outlook of the collaborative robots industry. These robots are being deployed across various industries and have been highly influential in addressing the challenges faced by the logistics sector, such as complex work processes, and managing several tasks in different combinations and compact spaces. The growth can be ascribed to the increasing adoption of collaborative robots, or cobots, in Small and Medium Enterprises (SMEs). These companies are increasingly investing in cobots to interact with humans in a shared workspace and automate manufacturing processes. The growth is further proliferated by technological advancements in the industry. Request sample report of Collaborative Robots Market@https://www.grandviewresearch.com/industry-analysis/collaborative-robots-market/request/rs1 Collaborative Robots Market Report Highlights
The integration of artificial intelligence and machine learning technologies in industrial robots is positively influencing the business space. Besides, the advent of 5G technology is also expected to stimulate the adoption of cobots in the manufacturing sector. The release of an industrial grade 5G wireless network by Nokia Corporation to meet the requirements of Industry 4.0 is a prominent example of such developments. The low-latency connectivity offered by 5G wireless solutions will help OEMs enhance robotic automation and increase the productivity, quality, and efficiency of the manufacturing processes. Collaborative Robots Market Report Scope
List of Key Players in the Collaborative Robots Market
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