Collaborative Robot Market to Penetrate Untapped Regions 2024

Posted by Vikas Bahurupi on November 20th, 2018

This report offers strategic analysis of the global collaborative robot market, and the market growth forecast for the period 2016 to 2024. The scope of the report contains competitive analysis of various market segments based on the payloads, application and industries of the collaborative robot market across different geographic segments. 

Collaborative robots are designed to help human beings as a guide in specific tasks. In general robots are designed and programmed to operate autonomously wherein collaborative robots operate simultaneously with humans. Lightweight of the collaborative robots is one of the important factor due to which growth of collaborative robotic market is likely to increase. Collaborative robots are the type of industrial robots that are grabbing more demand due to their collaborative nature with human and allows human to work side by side with these robots safely. Collaborative robots are light in weight, easy to assemble and can work side by side with human without hampering the safety of the human. These robots are flexible in nature that allows to handle repetitive and short run tasks along with ergonomically difficult tasks. Due to the nature of these robots, they are used in home labs, offices, farms, hospitals, warehouses, thereby allowing the robots to help in carrying out the job in a better way. 

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With the increasing numbers of manufacturing sectors the demand of robotics is escalating. Since collaborative robots are the lightweight and flexible robots that work side by side with human safely, increases the demand of collaborative robots in manufacturing industries especially SME (Small Manufacturing Enterprise). This robotic technology is likely to optimize to support responsive production methodologies. Operators can swiftly program robotic movements based on logical process steps and using intuitive tools, with no programming experience.

The collaborative robot market is bifurcated based on payload into up to 5 Kg, 6 – 10 Kg and above 10 Kg. Among these segments 6 – 10 Kg accounted for the highest revenue share during the forecast period. They are used in operating heavier tasks that weigh up 10 Kg like palletizing, packaging, pick and place and assembling. This type of robots helps in saving time on production lines where distance is a factor. Moreover, on the basis of application, the collaborative robot market is segmented into packaging, material handling, quality testing, assembling, machine tending, welding and others. Material handling segment accounted for the highest market share in the global collaborative robot market. These robots helps in controlling and storing of materials in distribution centers, warehouses and also used for disposal. On the basis of industries the market is bifurcated into automotive, food and beverage, aerospace, plastic and polymers, metals and machining and others.

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To support in strategic decision making, the report also embraces competitive profiling of leading players in the industry, their market share in different regions of North America, Europe, Asia Pacific, Middle East & Africa and Latin America. Asia Pacific held the highest market of collaborative robot globally. Presence of numerous number of industries and need for automation is driving the demand of Collaborative Robot market in Asia Pacific region. Additionally, several business strategies adopted by key players has also been deliberated in the report. The market attractiveness analysis is included in the report provide understanding into industry competition and market dynamics.

The report also provides breakdown and review of several factors affecting the market growth, which are appropriately defined as market drivers, restraints, and opportunities. These causes regulate innumerable existing trends and their effect on market growth. In all, the report includes a complete analysis of the global collaborative robot market, and provides an estimation of progress for the period 2015 to 2024, considering the various factors affecting the market. 

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Vikas Bahurupi

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Vikas Bahurupi
Joined: March 7th, 2018
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