The global collaborative robots market is expected to grow at a rapid CAGR of 25.1% over the forecast period. Valued at USD 2.2 billion in 2023, the market is projected to soar to USD 20.5 billion by 2033, driven by advancements in robots designed to collaborate with humans in areas like smart parts assembly and electronics production. A recent market research report from Future Market Insights, covering industry analysis from 2014 to 2021 and forecasting through 2029, highlights key insights into the collaborative robots market.
The report indicates that the market will see significant growth through 2029, fueled by factors such as the increasing adoption of automation across various industries, the reduction of labor costs, and the demand for high-precision tasks, alongside rising regional interest in collaborative robots.
East Asia Driving Significant Growth in Collaborative Robots Market
The East Asia region is set to accelerate the growth of the collaborative robots market, largely due to the increasing rate of automation across various industries. South Korea leads the world in the ratio of robots per 10,000 people, while China has seen the highest growth in this metric. Both countries’ focus on collaborative robots, fueled by significant technological innovations, is propelling the market forward. Japan, holding a major market share within East Asia, also contributes to the region’s growing opportunities in the coming years.
Affordability and Versatility of Collaborative Robots Boost Market Expansion
The global collaborative robots market is segmented by payload capacity, applications, end-use industries, and regions, including North America, Latin America, Europe, South Asia, East Asia, Oceania, and the Middle East and Africa.
- Payload capacity: Collaborative robots with payloads up to 5kg are expected to dominate future growth, as they are widely utilized for various tasks. Robots with a 5-10kg payload capacity follow closely behind in market growth.
- Applications: Material handling is predicted to be the largest application segment, used across numerous industries. General assembly also holds a significant share in the market’s expansion.
- Industries: The electronics and semiconductor sectors are anticipated to capture a significant share of the collaborative robots market, benefiting from the precision and speed offered by these robots.
Leading Vendors in the Collaborative Robots Market
The report highlights key players dominating the global collaborative robots market, including Universal Robots A/S, AUBO Robotics, Denso Wave Incorporated, Fanuc Corporation, Stäubli International AG, Robert Bosch GmbH, KUKA AG, Precise Automation, Inc., ABB Group, Yaskawa Electric Corporation, and K2 Kinetics. These companies hold substantial market shares and are engaging in strategic partnerships, collaborations, mergers, and acquisitions. For example, ABB Group partnered with Kawasaki Heavy Industries Ltd. to share expertise and jointly pursue technical innovations and market awareness initiatives.
Top Market Players of the Collaborative Robots Market
- Universal Robots A/S
- AUBO Robotics
- Fanuc Corporation
- Stäubli International AG
- Robert Bosch GmbH
- KUKA AG
- Precise Automation Inc.
- Denso Wave Incorporated
- ABB Group
- Yaskawa Electric Corporation
- K2 Kinetics
Collaborative Robots Market Key Segment:
By Payload Capacity:
- Up to 5kg
- 5-10kg
- Above 10kg
By Application:
- Welding
- Material Handling
- Quality Testing/Inspection
- General Assembly
- Painting/Spraying
- Others (Surgery, Cleaners, Institutional)
By End Use:
- Automotive & Transportation
- Electronics & Semiconductors
- Food & Beverage
- Chemical & Pharmaceutical
- Logistics
- Healthcare
- Others (Plastic, Metal & Machinery, Furniture & Equipment
By Region:
- North America
- Latin America
- Asia Pacific
- Middle East & Africa (MEA)
- Europe
Access Report Details for More In-Depth Information!
Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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