Collaborative Robot (Cobot) Market by Component, Payload (Up to 5 Kg, 5-10 Kg, and Above 10 Kg), Application (Handling, Processing), Industry (Automotive, Electronics, Healthcare, Furniture & Equipment) and Geography - Global Forecast to 2028
The global collaborative robot (cobot) market is projected to grow from USD 1.1 Billion in 2022 to USD 9.2 Billion by 2028, at a CAGR of 41.5% during the forecast period from 2022 to 2028. The growth of this market is driven by factors such as high return on investment as compared to the traditional industrial robotic system, collaborative robots to benefit businesses of all sizes, increased ease of programming of collaborative robots, and increasing demand in the e-commerce and logistics industries due to contingency of COVID-19.
US accounted for largest market share of the collaborative market in North America in 2021
The US accounted for ~73%, in terms of value, of the collaborative market in North America in 2021. The country is expected to hold the largest share throughout the forecast period as well. The US has the largest manufacturing sector in North America. Growing industrial automation across Mexico and the widening rift between skilled workforce and wages are compelling organizations to adopt cost-efficient automation tools, which will further strengthen the demand for collaborative robots. They are being used in large industries like automotive and smaller industries like furniture & equipment. The growing use of collaborative robots has also given rise to emerging collaborative robot manufacturers such as Productive Robotics, Inc. (US) and Rethink Robotics GmbH (US).
Breakdown of primary participants:
By Company Type: Tier 1 = 40%, Tier 2 = 30%, and Tier 3 = 30%
By Designation: C-level Executives = 40%, Directors = 40%, and Others = 20%
By Region: North America = 40%, Europe = 30%, Asia Pacific = 20%, and Rest of the World = 10%
The key players in the collaborative robot (cobot) market include Universal Robots A/S (Denmark), FANUC Corporation (Japan), ABB (Switzerland), Techman Robot Inc (Taiwan), KUKA AG (Germany), Doosan Robotics Inc. (South Korea), Denso Corporation (Japan), Yaskawa Electric Corporation (Japan), AUBO (Beijing) Robotics Technology Co., Ltd (China), and Rethink Robotics GmbH (US). Other players include Omron Adept Technologies, Inc. (US), Franka Emika GmbH (Germany), Comau S.p.A. (Italy), F&P Robotics AG (Switzerland), Stäubli International AG (Switzerland), Bosch Rexroth AG (Germany), Productive Robotics, LLC (US), Wyzo (Switzerland), Neura Robotics GmbH (Germany), Elephant Robotics (China), Elite Robot (China), Kassow Robots (Denmark), Siasun Robot & Automation Co. Ltd. (China), MIP Robotics (France), and Hanwha Corporation (South Korea).
This report has segmented the collaborative robot (cobot) market based on type, component, payload, application, industry, and geography. The report discusses the drivers, restraints, opportunities, and challenges pertaining to the market. It gives a detailed view of the market across 4 main regions—North America, Europe, Asia Pacific, and RoW. Value chain analysis has been included in the report, along with the key players and their competitive analysis in the collaborative robots ecosystem.
Key Benefits to Buy Report:
This report includes statistics for the collaborative robot (cobot) market based on type, component, payload, application, industry, and geography, along with their respective market sizes.
Value chain analysis and key industry trends have been provided for the market.
Major drivers, restraints, opportunities, and challenges for the collaborative robot (cobot) market have been provided in detail in this report.
This report would help stakeholders to understand their competitors better and gain more insights to enhance their position in the market. The competitive landscape section includes the competitor ecosystem and the recent development strategies adopted by the key players in the market, such as product launches/developments, contracts/collaborations/agreements/acquisitions.