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

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.