Press Release Description

Ongoing Technological Development in the Robotic Software to Accelerate the Product Demand 

The collaborative robot is an intelligent robotic technology developed through an integration of advanced software, sensors, Machine learning, AI, and End of Arm Tooling (EOAT’s) technologies which is intended to operate in an un-caged environment, to work safely and closely with human interactions. The improved Human Machine Interface (HMI) advantages of the co-robots has significantly increased the adoption rate of the collaborative robots across different small and medium sized end-user verticals.

According to MarkNtel Advisors’ research report Global Collaborative Robots (COBOTS) Market Analysis, 2020, the Global Collaborative Robots market is anticipated to surge at a CAGR of 50% during the projected period 2020-25. The rising investments in the industrial and manufacturing sectors to automate the manufacturing and operational processes, increasing demand for robots to perform high payload capacity tasks, and the low price of the collaborative robots are the key factors contributing to the market growth.
With the advancement in technology, the role of the robots is not only confined to the industrial floor jobs, instead tasks such as human assistance, unmanned aerial vehicles, product delivery is being performed by the robots, and thus providing quick and higher Return on Investments(ROI) to the investors, which is expected to expand the market size of the global collaborative robots market during 2020-25.

Further, the significant initiatives by the collaborative robot manufacturers for enhanced user experience, and improved performance of the collaborative robots is expected to uplift the market in the forthcoming years. For instance, the two leading operators in the robotics and automation industry have undertook a collaboration agreement for the development of World’s only common collaborative robot interface in 2018. ABB and Kawasaki have released the most simplified human-robot interface with intuitive, smartphone-like navigation and icons especially for their dual-arm co-bots. The co-bots need to have deep understanding capabilities to imitate the human actions, Integration of smart technologies such as AI and deep machine learning in the co-bots holds immense potential for development in the robotic and autonomous environment, and hence it would augment the market in the future.

Automotive Industry to Maintain the Leading Position During 2020-25

The automotive industry held the leading position in the global collaborative robot’s industry during 2015-19. The industry is expected to maintain the market dominance through the forecast period 2020-25, as revealed by MarkNtel Advisors’ research report “Global Collaborative Robots (COBOTS) Market Analysis, 2020”. Factors like, growing investments and product expansions of the automotive industry, increasing demand for the cobots to handle high payload material and efficient material handling and product assembling at the manufacturing facility, has been augmenting the product demand in the industry.

However, with increasing emphasis on the automation and less human errors with time saving, the deployment of the collaborative robots is also increasing across other vertical such as, Food & Beverages, Healthcare & Pharmaceuticals, Aerospace & Defense, Metallurgy, Chemicals, Electronic & Electrical, Manufacturing, Automobiles, Others also.

High Payload Collaborative Robot to Emerge as the Fastest Growing Segment Through 2025

Collaborative robots with payload capacity of upto 5Kg accounted for the highest market share during 2015-19. The trend is expected to prolong in the future due to its easy adaptability, deployment, low cost, and the increasing demand for the light and moderate weight payload cobots in the small and medium manufacturing utilities. The collaborative robot market for the heavy payload capacity category is expected to increase in the future owing to its increasing deployment in the heavy parts assembly unit in the automobile industry. However, the heavy cost of high capacity cobots is hindering the segment growth.

According to MarkNtel Advisors, the key market players in the Global Collaborative Robots Markets includes ABB, AUBO Robotics, Bosch Rexroth AG, F&P Robotics, Comau, Denso Robotics, Fanuc, Kuka, Nachi Robotic, Precise Automation, and Others. 

The global collaborative robots market is highly competitive due to the presence of large number of local and multinational automation and robotic system developers in the market. the leading players in the industry are focusing towards product development, product portfolio expansion, sales capabilities, and market expansion, in order to maintain their market share holding.

ABB is a market leader in the global collaborative robots market. the company had significant amount of investments in past couple of years to expand its product portfolio and gain product specialization. For instance, the company took first mover advantage in the year 2015 with the launch of its YuMi, the world’s first truly collaborative robot. Thereafter, the company has launched a series of products in the market, including YuMi collaborative robot—IRB 14050, IRB 1100 robot and OmniCore controller for the harsh environments, lunched in 2018 and 2019 respectively.

“Global Collaborative Robots (COBOTS) Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decision, hotspots and opportunities available for Healthcare Data Integration Platforms providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings. 

Industry Segmentation:
1.    By Application (Material Handling, Parts Assembling, CNC Machine Tending, Testing & Inspection, Molding, Polishing, Assembling and Disassembling, Adhesion & Welding, Metals & Machining, Others)
2.    By Payload (Upto 5 Kg, 5 to 10 Kg, More than 10 Kg)
3.    By Industry (Food & Beverages, Healthcare & Pharmaceuticals, Aerospace & Defense, Metallurgy, Chemicals, Electronic & Electrical Manufacturing, Automobiles, Others)
4.    By Region (North America, Latin America, Europe, Middle East & Africa, Asia-Pacific)
5.    By Country (US, Canada, Mexico, Germany, Italy, France, UK, Denmark, Norway, Sweden, Austria, Netherlands, Spain, Russia, Poland, Czech Republic, Slovakia, Hungary, Romania, China, India, Japan, South Korea, Malaysia, Singapore, Sri Lanka, Australia, Saudi-Arabia, South Africa, Brazil)
6.    By Company (ABB, AUBO Robotics, Bosch Rexroth AG, F&P Robotics, Comau, Denso Robotics, Fanuc, Kuka, Nachi Robotic, Precise Automation, Others)

Key questions answered in the study: 
1.    What are the current and future trends of the Global Collaborative Robots industry? 
2.    How the industry has been evolving in terms of end-user demand and application areas?
3.    How the competition has been shaping across the countries followed by their comparative factorial indexing?
4.    What are the key growth drivers and challenges for the Global Collaborative Robots industry?
5.    What are the customer orientation, purchase behavior, and expectations from the Collaborative Robots suppliers across various regions? 

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