Global Collaborative Robot Market 2018-2025: Market to Grow at a Staggering CAGR of 50.3% - Focus on Automotive, Electronics, Metals & Machining, Plastics & Polymers, Food & Beverages & Healthcare
DUBLIN, Nov. 5, 2018 /PRNewswire/ --
The "Collaborative Robot Market by Payload Capacity (Up to 5 Kg, 5-10 Kg, Above 10 Kg), Industry (Automotive, Electronics, Metals & Machining, Plastics & Polymers, Food & Beverages, Healthcare), Application, and Geography - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
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The overall collaborative robot market is estimated to grow from USD 710 million in 2018 to USD 12,303 million by 2025, at a compounded annual growth rate (CAGR) of 50.31% during the forecast period.
A significant adoption rate of co-bots by small- and mid-sized enterprises (SMEs) across the world because of their recognizable benefits; improved human-machine interface (HMI) and capability of AI to imitate human behavior; and one-stop solution for the safe working environment are driving the growth of the collaborative robot market.
Collaborative robots with up to 5 kg payload capacity to account for largest size of collaborative robot market during forecast period
Co-bots with up to 5 kg payload capacity held the largest market size in 2017, and a similar trend is expected to continue from 2018 to 2025. The growth of the market is mainly driven by the increasing demand for light, as well as moderate payload capacity of co-bots owing to their ease of deployment, high adaptability, affordability, and plug-and-play characteristics, which are a few essential parameters that meet the demands of a large pool of SMEs.
The automotive industry accounted for the largest share of the collaborative robot market in 2017. Co-bots are used to perform diversified assembly tasks across the automotive industry. These robots are also used to perform other crucial tasks in the automotive production line such as pick and place, quality inspection, packaging and palletizing, machine tending, and material handling while offering a safe working environment.
The market for assembly is expected to grow at the highest rate during the forecast period. Collaborative robots find their applications in the manufacturing industry as these robots allow the new user to grasp the basics of working easily. Collaborative robots are known for reducing the time of assembly due to their accuracy, speed, reach, and any material handling capacity. Benefits offered by collaborative robots include greater precision than that of special-purpose instruments. They can be easily deployed and sometimes need only reprogramming to resume working on another assembly line. Automotive, food & beverages, and furniture and equipment industries have a high demand for co-bots for assembly applications.
Asia Pacific is expected to account for largest market size during forecast period
In 2017, Europe accounted for the largest market share, closely followed by APAC and North America. The growth of the European market was driven by the strong government support to promote the use of factory automation solutions, thus supporting the adoption of Industry 4.0. However, the market in APAC is expected to surpass the European market by 2025. This growth can be attributed to the increasing demand for collaborative robots in China, Japan, and South Korea, especially for industries such as electronics, automotive, and metals and machining.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Human-Robot Collaborative Operational Environment (Qualitative)
7 Components of Collaborative Robots (Qualitative)
8 Collaborative Robot Market, By Payload Capacity
9 Collaborative Robot Market, By Application
10 Collaborative Robot Market, By Industry
11 Geographic Analysis
12 Competitive Landscape
13 Company Profiles
-- ABB
-- Aubo Robotics Inc.
-- Comau S.P.A
-- Energid Technologies Corporation
-- F&P Robotics AG
-- Fanuc Corporation
-- Franka Emika GmbH
-- Kawada Robotics Corp.
-- Kuka AG
-- Mabi Ag
-- Mrk-Systeme GmbH
-- Precise Automation, Inc.
-- Rethink Robotics
-- Robert Bosch GmbH
-- Techman Robot for Quanta Storage Inc.
-- Universal Robots A/S
-- Yaskawa Electric Corporation
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SOURCE Research and Markets
