The Collaborative Robots Market (2018-2022) to Register a CAGR of 62.5% - Leading Players are ABB, FANUC, Midea Group, Rethink Robotics, Teradyne, and Yaskawa Electric - ResearchAndMarkets.com

The global collaborative robots market is forecast to grow at a CAGR of 62.49% during the period 2018-2022. The automation industry is focusing on the development of plug-and-play grippers for use in collaborative robots that can be set-up and programmed easily with minimal technical knowledge. Gripper manufacturers are also incorporating more technologies into their products to improve finger speed, force and precision. Thus, the technological advances in grippers will be a major trend that will drive the growth of the collaborative robots market during the forecast period. According to the report, one of the major drivers for this market is the increased adoption rate of collaborative robots in small and medium sized enterprises in developed nations. By deploying cobots on factory floors, SMEs can cut their labor costs and gain a competitive edge in the global market. The demand for applications such as pick-and-place, machine tending, material handling, assembly line, welding, inspection, and packaging in SMEs will also drive the demand for collaborative robots. Further, the report states that one of the major factors hindering the growth of this market is the regulatory hurdles faced by collaborative robot manufacturers. Institutes and agencies of various countries and regions have specified force and torque limitations to enhance the safety of humans. Collaborative companies need to adhere to these international rules and regulations to ensure the sales of their products anywhere in the world. Key Vendors