Dublin, June 27, 2023 (GLOBE NEWSWIRE) -- The "Collaborative Robot Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028" report has been added to ResearchAndMarkets.com's offering.
The global Collaborative robot market is anticipated to develop rapidly in the forecast period 2024-2028.
The main factors propelling the market for Collaborative robot markets are the development of various applications for the assembly and production of electronic goods, new automotive processes, and various modeling operations used in small and medium-sized manufacturing companies.
Cobots, also called Collaborative robot markets, can handle a wide range of tasks to assist people/workforce. Moreover, built-in sensors, passive compliance, and overcurrent detection are some of the safety features that Collaborative robot markets possess, thereby driving the growth of the market.
Increase in applications for manufacturing across the world
Cobots, or Collaborative robot markets (a new robotics paradigm), developed in which robots and humans work together on the same projects, bringing in significant advancement in robotics with enormous potential for many industries, including manufacturing.
Several large-scale and small-scale manufacturing units have made automation a key component of their cost-cutting and production-efficiency strategies. The use of Collaborative robot markets is growing as more and more businesses are shifting toward automation. Collaborative robot markets are used in various manufacturing units, such as automotive, furniture & equipment, and metals & machining, for assembly, pick & place, machine tending, quality testing, material handling, packaging & palletizing, gluing & welding, and other applications.
Collaborative robot market adoption is increasing because of the rapidly changing human-machine interface (HMI), which is made possible by introducing touch screens, larger screens, higher resolution, remote monitoring capabilities using advanced processors, and IIOT.
Like the ABB YuMi, Cobots work alongside an assembly worker at a shared desk. Automatic tool changers enable quicker and more complex operations, absolute precision, and continuous fastener or bonding material supply, which further ensures consistent product quality.
Faster ROI and Low-Cost Deployment
Collaborative robot markets have been scientifically proven to be more cost-effective than their industrial counterparts, primarily due to their ability to automate more tasks per robot. Moreover, the ease of creating a Collaborative robot market reduces the time and resources required for integration, lowering the automation investment.
Collaborative robot markets include safety features and do not require fences or other industrial safety equipment, thus, reducing costs while shortening integration time. When compared to industrial robots, the low cost of deploying a Collaborative robot market makes it far more accessible to a broader customer base.
High training requisite for the workforce
Over the last decade, manufacturers have found it more challenging to hire employees to complete their factories' specialized tasks. The presence of automation adds another layer to the dilemma, as the robots require operations' programming. This provides additional opportunities for existing employees to be trained and expand their skill set.
A company specializing in automation can help with the initial installation and setup. With proper training and experience, staff can learn new skills and adapt to manage robots over time. Therefore, the requirement for a highly skilled team and workforce can hamper the market growth of Collaborative robot markets.
Covid impact on cobots
Almost every industry, including automotive, electronics, metals & machining, plastics & polymers, food & beverages, healthcare, furniture & equipment, and others, has been significantly impacted by COVID-19. During the COVID-19 pandemic, factors such as a lack of cash flow and a cash shortage limited the growth of industries.
Almost every industry in the world has been affected by the coronavirus (COVID-19) pandemic, including machinery, industrial automation, and robotics. Most nations implemented a lockdown to combat the COVID-19 pandemic and have now gradually eased it. As a result, the manufacturing industry has been significantly impacted. For example, factories in China, Italy, and India, among other countries, had to close temporarily, which affected the market for collaborative robots.
Market Dynamics
Drivers
- Increasing Competition within the Collaborative robot marketspace
- Faster ROI and low-cost deployment
- Increased ease of programming
Challenges
- High standards and regulations
- Lack of trained staff for operating robots
Market Trends & Developments
- Increase in automation in the various verticals across the globe
- Positive impact on Collaborative robot markets due to covid-19
- Adoption of Robot-as-a-service model
- Development of various innovations and technologies such as embedded vision, A.I., and ML, and many such
- Increase in applications for manufacturing across the world
Voice of Customers
- Brand Awareness
- Factors Considered while Selecting Supplier
- Key Satisfaction Level
- Major Challenges Faced
- Types of Security Breaches can occur
- Key attacks on robots
- Impacts on human by Robot
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Global Collaborative robot market.
- Universal Robots A/S
- Rethink Robotics
- ASEA Brown Boveri (ABB)
- KUKA AG
- FANUC Corporation
- Robert Bosch GmbH
- Precise Automation, Inc.
- MRK-Systeme GmbH
- F&P Robotics AG
- Energid Technologies Corporation
Report Scope:
Global Collaborative robot market, By Payload Capacity:
- Up to 5 Kg
- Between 5 and 10 Kg
- Above 10g
Global Collaborative robot market, By Application:
- Assembly
- Pick & Place
- Machine Tending
- Quality Testing
- Material Handling
- Packaging & Palletizing
- Gluing & Welding
- Others
Global Collaborative robot market, By Industry:
- Automotive
- Electronics
- Metals & Machining
- Plastics & Polymers
- Food & Beverages
- Healthcare
- Furniture & Equipment
- Others
Global Collaborative robot market, By Region:
- North America
- United States
- Mexico
- Asia-Pacific
- India
- Japan
- South Korea
- Australia
- Singapore
- Malaysia
- China
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Poland
- Denmark
- South America
- Brazil
- Argentina
- Colombia
- Peru
- Chile
- Middle East
- South Arabia
- South Africa
- UAE
- Iraq
- Turkey
For more information about this report visit https://www.researchandmarkets.com/r/pmxo2m
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