FMI states in its recent study on the global collaborative robots market that it is going to experience rapid growth by the end of the forecast period. This is possible due to several factors. Rapid industrial automation in the end-use industry in addition to the reduction in labor cost has made this possible. Plus, the market is in high demand for precision work and collaborative robots.
The automotive and electronic & semiconductors industry is growing at a rapid rate, all thanks to technological advancements and the wide range of applications for collaborative robots. And this is why the collaborative robots market is expected to achieve a CAGR of over 26% by the end of 2029.
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Collaborative Robots Market – Important Highlights
- The global collaborative robots market has been categorized into 4 different segments. These are payload capacities for different robots, the versatility of application, specific industrial usage, and major regions such as North America, Europe, Asia, Oceania, Middle East, and Africa.
- Owning to the significant growth of automation in industries in the East Asia region, the collaborative robots market will see a boost in growth from this region.
- Japan already has the major share in this market, along with South Korea who registered the greatest number of robots being used per person, followed by China.
Collaborative Robots Market – Drivers
- Collaborative robots comprising payload capacities from 5Kg to 10Kg are in the highest demand and are expected to have a dominant share in the market. Such robots are being used for several operations that include light to medium lifting, transporting, and packaging.
- Application-based collaborative robots, especially that of material handling and general assembly is also going to be in the highest demand. Almost every other end-use industry requires two types of collaborative robots. Thus, holding a major share in this market again.
- Now that there is some significant demand in the collaborative robots market, electronics and semiconductors industries are expected to supply most of the materials.
Collaborative Robots Market – Restraints
- Though there are very few restraints to the growth of the collaborative robots market, the COVID-19 situation might create some troubles with the production of robots and their supply.
- Some other restraints can be traced down to the monopoly of industries in a few regions. Adequate supply and demand might get disturbed and the prices of robots cannot be regulated. Affordability would come as an issue too.
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COVID-19 Impact on the Collaborative Robots Market
The COVID-19 pandemic has put a halt in the operations of a wide number of industries across the globe. This has resulted in huge losses, both in terms of revenue, production, and supply. The collaborative robots industry has faced the same issues. Since industries everywhere were having minimal operations, the demand for robots came down. And on the other side, since the production of robots was reduced to a minimum, the existing demand couldn’t be fulfilled, the market got disrupted poorly.
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Table Of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Taxonomy/Coverage
2.2. Market Definition / Scope/ Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
4. Key Success Factors
4.1. Installed Base Analysis
4.2. Technological Innovations
5. Global Collaborative Robots Market Volume Analysis
5.1. Historical Market Volume Analysis
5.2. Current and Future Market Volume Projections
5.3. Y-o-Y Growth Trend Analysis
6. Pricing Analysis
6.1. Regional Pricing Analysis By Payload Capacity
6.2. Pricing Break-up
6.3. Global Average Pricing Analysis Benchmark