USD 815.40 million
Collaborative Robots Market Size, Share, Growth Analysis, By Component(Hardware, Software), By Payload(Up to 5 kg, 5-10 kg, 10-25 kg, More than 25 kg), By Application(Hardware, software), By Application(Handling (Pick-And-Place, Material Handling, Packaging & Palletizing, Machine Tending)), By End-User(Automotive, Electronics & Semiconductors, Metals & Machining, Plastics & Polymers), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25A2297 |
Region:
Global |
Published Date: July, 2024
Pages:
157
|Tables:
132
|Figures:
77
Collaborative Robots Market Insights
Global Collaborative Robots Market size was valued at USD 815.40 million in 2022 and is poised to grow from USD 914.88 million in 2023 to USD 2297.77 million by 2031, growing at a CAGR of 12.20% during the forecast period (2024-2031).
Robots designed specifically for working together with humans are known as collaborative robots. Growing acceptance of robots in different industry verticals and rising emphasis on promoting worker safety are projected to bolster the demand for collaborative robots over the coming years. The highly affordable nature of collaborative robots is also promoting their adoption across multiple industry verticals. Growing demand for automation and advancements in robotic technologies are also expected to favor the global collaborative robots market growth in the future. On the contrary, complexity in integration, resistance to change, and imposition of strict safety mandates for collaborative robots are expected to slow down the global collaborative robot demand outlook in the long run.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
5 kg
Fastest Growth
more than 25 kg
Growth Rate
12.20% CAGR
Global Collaborative Robots Market ($ Bn)
Country Share for Europe Region (%)
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Collaborative Robots Market Segmental Analysis
Global collaborative robots market is segmented by payload, component, application, end-user, and region. Based on payload, the market is segmented into up to 5 kg, 5-10 kg, 10-25 kg, and more than 25 kg. Based on component, the market is segmented into hardware and software. Based on application, the market is segmented into handling (pick-and-place, material handling, packaging & palletizing, machine tending), assembling & dissembling (nut fastening, and screwdriving), welding & soldering, pick & place, positioning, processing (grinding, milling, and cutting) and others. Based on end-user, the market is segmented into automotive, electronics & semiconductors, metals & machining, plastics & polymers, food & beverages, healthcare, logistics, and others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Application
The use of collaborative robots for handling applications is projected to account for a major chunk of the global market share. Material handling processes are quite repetitive and require a lot of care and precision, which is why the use of collaborative robots is in this application segment is high. From food and beverages to automotive, almost all industry verticals require material handling at some point thereby further cementing the dominance of this segment.
On the other hand, the demand for collaborative robots for assembling and disassembling applications is expected to increase at a rapid CAGR over the coming years. Growing use of customized parts and components in the assembly processes is projected to boost sales of collaborative robots via this segment. Automotive and electronics manufacturing industries are projected to be vital for this segment’s growth going forward.
Analysis by Component
Like all robots, hardware plays a vital role in determining the functionality and features of a collaborative robot. This is why the hardware segment accounts for a prominent share of the global market. Growing demand for advanced hardware components such as sensors, controllers, and actuators to improve the functionality of collaborative robots will also help this segment maintain its high market share. Use of advanced semiconductor technologies will be crucial in determining the growth of this segment.
Meanwhile, the growing demand for better human-machine interaction and user experience is slated to help software segment emerge as the fastest-growing one. Software that is capable of integrating multiple advanced technologies to improve the capabilities of collaborative robots will be highly sought-after in the future.
Global Collaborative Robots Market By Component
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Collaborative Robots Market Regional Insights
The Asia Pacific region is expected to emerge as the fastest-expanding market for collaborative robot companies in the world. Presence of a massive manufacturing industry and growing adoption of automation set the tone for collaborative robots market growth in this region. Expertise and advancements in robotics in countries such as China and Japan are also helping this region boost global collaborative robot demand outlook. The shrinking worker population and surging labor costs are also playing a vital role in boosting collaborative robot adoption in the Asia Pacific region.
Europe is projected to emerge as the leader in the global collaborative robots market landscape over the coming years. Proactive adoption of Industry 4.0 trends and government support to promote automation are key factors that help this region account for a dominant stance. Germany is estimated to be the most opportune market for collaborative robot providers owing to the presence of a very active automotive manufacturing industry. Moreover, the growing establishment of smart factories in this region will also help this region’s dominance going forward.
Global Collaborative Robots Market By Region
- Largest
- Fastest
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Collaborative Robots Market Dynamics
Drivers
Emphasis on Worker Safety
- Use of collaborative robots can help worker safety which has become highly important for all organizations around the world. Growing number of companies investing in improving worker safety and implementation of new worker safety mandates are predicted to help promote sales of collaborative robots over the coming years.
Advancements in Robotics
- Robotics technology is advancing rapidly and is now more capable of being collaborative than ever before. Moreover, integration of other advanced technologies such as artificial intelligence and IoT is helping to improve the collaborative capabilities of robotics technologies.
Restraints
Resistance to Change
- Concerns of workforce displacement through the deployment of robotics are empowering a resistance to the adoption of robots. With more and more tasks being automated and workers being laid off, the resistance to robot adoption is only expected to get stronger and impede collaborative robot demand.
Stringent Safety Mandates
- As the name suggests, collaborative robots work alongside humans. This is why these robots are subject to some of the most stringent safety mandates there are for robots. Ensuring compliance with all of these norms is a challenge that slows down the global collaborative robots market growth potential.
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Collaborative Robots Market Competitive Landscape
Renowned collaborative robot manufacturers are focusing on launching new initiatives to help start-ups innovate and advance market growth prospects. Collaborative robot providers target the improvement of safety and efficiency features of their products to stand out from the competition. New companies entering the market should focus on raising new capital to maximize their business scope and stay competitive. Integration of advanced technologies and partnerships are also expected to be popular strategies for collaborative robots companies going forward.
Top Player’s Company Profiles
- ABB Group
- DENSO Robotics
- Fanuc Corporation
- Universal Robots A/S (Denmark)
- Kawasaki Heavy Industries, Ltd. (US)
- AUBO (BEIJING) ROBOTICS TECHNOLOGY CO., LTD (China)
- KUKA AG (Germany)
- Denso Corporation (South Korea)
- YASKAWA ELECTRIC CORPORATION (Japan)
- Rethink Robotics GmBH (Germany)
- Siasun. Robot & Automation Co., Ltd. (China)
- Franka Emika GmbH (Germany)
- Comau S.p.A. (Italy)
- Hanwa Corporation (South Korea)
- Stäubli International AG (Switzerland)
- Bosch Rexroth AG (Germany)
- Productive Robotics, LLC (US)
- NEURA Robotics GmbH (Germany)
- ElephantRobotics (China)
- Elite Robots (China)
Recent Developments
- A new explosion-proof paint cobot was launched by FANUC in May 2024. This is a world-first offering by FANUC and is specifically made for industrial painting and coating applications. CRX-10iA/L Paint cobot’s launch marks an explosive entry of FANUC in the paints and coatings industry.
- In September 2023, this Switzerland-based organization announced the launch of new variants of its collaborative robots. GoFa 12 and GoFa 10 were the new variants capable of handling payloads of 12 and 10 kg respectively.
Collaborative Robots Key Market Trends
- Better User Interfaces: Collaborative robot companies should focus on improving their user interfaces to promote better human-machine collaboration capabilities. User interfaces should also be simplified to help untrained and less-skilled operators understand collaborative robots better. This is the key to unlocking the full potential of collaborative robots market growth.
Collaborative Robots Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, growing use of robotics for automation and increasing emphasis on worker safety are projected to uplift sales of collaborative robots going forward. Contrastingly, resistance to change, issues in compliance with safety mandates, and high costs of advanced collaborative robots are projected to impede market development potential. Rising acceptance of robotics for automation in countries such as Japan and China is helping Asia Pacific emerge as the fastest-expanding market in the world for collaborative robot companies. Development of better user interfaces in collaborative robots to improve human-machine collaboration capabilities are projected to create a multitude of new opportunities for collaborative robot companies in the long run.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 815.40 million |
| Market size value in 2031 | USD 2297.77 million |
| Growth Rate | 12.20% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Collaborative Robots Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Collaborative Robots Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Collaborative Robots Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Collaborative Robots Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Collaborative Robots Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Collaborative Robots Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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