Global Collaborative Robot Market to Surge Past USD 44.1 Billion by 2032 | Cobots as a Service (CaaS) Model is Making Buzz, Says Astute Analytica

The collaborative robot market is experiencing a growth explosion driven by the need for flexible automation, labor shortages, and safety concerns. Its rapid evolution is fueled by advancements in ease of use, adaptability, and the rise of rental models expanding access. This surge signals a manufacturing transformation, where humans and cobots collaborate for increased productivity and innovation.

New Delhi, Feb. 22, 2024 (GLOBE NEWSWIRE) -- The global collaborative robot market is projected to expand from US$ 1.9 billion in 2023 to a projected US$ 44.1 billion by 2032 at a CAGR of 42.5% during the forecast period 2024–2032.

Demand for collaborative robots is not only about amazing growth statistics but also a reflection of changes in the world of manufacturing.  First, elderly employees in developed states plus the need for mechanization to do simple and hazardous duties make cobots look highly attractive.  Moreover, their short-term ROI that sometimes goes below a year entrenches its wide use among many users. Astute Analytica’s study shows that more than one-third of cobot installations have payback periods shorter than 12 months, making them worth investing even in SMEs.

Technological advances underlie the cobot revolution. The advancements in sensors, AI, and intuitive software interfaces enable them to interact within semi-structured environments opening new applications. This conclusion was derived from research conducted by MIT technology review showing that almost sixty-four percent (64%) of manufacturers see adaptability to changing production needs as the highest advantage of cobots. But it’s more than just growth rates; it is about the qualitative change enabled by cobots.

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Modern manufacturing in the global collaborative robot market requires agility from COBOTS. Flexible production floors mean smaller batch sizes, customization needs and desires to avoid supply chain volatility are driving us towards “future proofing” our operations. Cobots solve this problem particularly well because unlike traditional lines they can be easily reprogrammed at low capital costs. As per IFR’s projection wherein COBOT sales would surge to potentially above seven hundred thousand units annually by 2025 Industry responses were also interesting: Major automation players are increasing their portfolios with COBOTs as they recognize a shift in market dynamics seen also through niche COBOT manufacturers emerging offering products targeted at core sectors such as hygienic ones used in food and beverage processing; robust yet cooperative types tailor-made for heavy industries or those super precise ones specifically designed for pharmaceuticals and electronics industries .This will increase competition between companies thus enabling consumers realize lower prices coupled with fast tracking innovations.

Key Findings in Collaborative Robot Market

Market Forecast (2032)US$ 44.1 Billion
Largest Region (2023)Europe (48%)
By Application  Material handling (34.5%)
By IndustryAutomotive (27.5%)
By Load Carrying Capacity 5-9 kg. (41.3%)
By ComponentHardware (75.6%)
Top Trends
  • Cobots as a Service (CaaS) models
  • AI-powered adaptability and decision-making
  • Expansion into non-traditional sectors
Top Drivers
  • Aging workforce and skills shortage
  • Demand for production flexibility and customization
  • Focus on workplace safety and ergonomics
Top Challenges
  • Evolving safety standards and regulations
  • Need for upskilling and workforce adaptation
  • Initial investment cost, especially for SMEs

Cobots as a Serv ice (CaaS) Model is Making Buzz in Collaborative Robot Market

The Cobots as a Service (CaaS) model is rapidly transforming the collaborative robot space, and its outlook is one of both opportunity and strategic evolution. By doing away with the traditional upfront cost barrier, CaaS opens cobot adoption to an extensive number of SMEs who had previously been reluctant due to capital constraints. This model has further emerged as a winner in terms of scalability. A significant aspect in today’s volatile market is that businesses can align their cobot deployment directly with changes in production requirements, according to McKinsey where 40% of manufacturers considered this flexibility critical in their cobot decisions.

CaaS fundamentally alters the user-technology relationship. Providers offer clients access to up-to-the-minute cobots inclusive of software bundles and maintenance such that they do not have to bear obsolete technology. Consequently, ROI-focused discussions are being led by what outcomes a cobot delivers rather than whether it belongs to an individual or organization as this enables wider understanding among industries about the collaborative tools available.

CaaS’ data aggregation unearths huge potential in the collaborative robot market. Service providers get insights on application successes, pitfalls and efficiencies across industry using aggregated usage patterns. Such data-driven evolution will further enhance the technology: Hirebotics offers transparently priced rentals; Formant focuses on cloud-based management while Ready Robotics stresses on short-term deployment flexibility. European companies like Fala and HowToRobot have services tailor-made for regional needs.

Crucially, CaaS disrupts not ownership but design itself. The entire cobot market will benefit from greater emphasis on reliability and ease-of-redeployment. Nonetheless, hybrid models will remain while intuitive interfaces alongside availability of programming expertise outside CaaS model will determine how far it goes ultimately. Now CaaS could extend collaboration automation into logistics operations even at small scale where upfront costs were once insurmountable hurdle.CaaS’s future lies in appreciating that its true potential lies in democratizing not just the robot but also its outcomes and expertise.

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Cobots with Load Carrying Capacity of 5-9Kg Contribute More than 41.3% Revenue to Global Collaborative Robot Market

Collaborative robots with a 5-9 kg payload capacity are favored due to their optimal blend of versatility, real estate and cost-effectiveness across multiple applications. This “sweet spot” stimulates demand. They are first strong enough to perform tasks that were the preserve of smaller cobots like heavy part handling and machine tending. Additionally, they have smaller footprints compared to high-payload models which makes it easier for them to be integrated into existing production lines without major overhauls. Finally, they represent an entry point for SMEs and new entrants in collaboration automation because they are less expensive. This affordability vs. capability ratio is a key driver.

Automotive is one sector where this payload class excels at mid-weight component assembly, packaging and machine tending across the global collaborative robot market. In electronics manufacturing, their ability for precision and repeatability tasks such as PCB handling or display assembly make them invaluable tools. Also, logistics and warehousing sectors exploit their capability to palletize mixed items with different weights. These industries will continue being major adopters of such designs according to research by Interact Analysis among others contributing to the segment’s 43% revenue share.

Major players in this space include industry giants like Universal Robots (UR5e, UR10e models) and Fanuc (CRX series), known for reliability and ease of use. Doosan Robotics also has a similarly versatile line with Aubo Robotics being an example of emerging cost-effective solutions providers in this space . The importance of these vendors is not only technical specifications but also intuitive software programs, adaptable gripper solutions along with safety features which are indispensable in collaborative workspaces once again proving that these players understand this market segment very well.They will determine who actually emerges as market leaders over the next few years by continuously meeting these changing requirements.

The Engine of Cobot Innovation: Why Automotive is the Sector to Watch

The automotive industry's dominance in collaborative robot market with revenue share of 27.5% isn't just about buying the most; it's about driving the technology forward.

  • The Harsh Reality of Labor:  The automotive workforce is experiencing a squeeze. In the US alone, the Bureau of Labor Statistics projects a need for over 200,000 new automotive manufacturing workers by 2030.  Cobots ease this pressure. They take on physically taxing tasks (think underbody sealant application) and allow existing workers in the collaborative robot market to focus on problem-solving and oversight, improving both productivity and retention.
  • Agility is the New Currency:  Today's automotive market isn't about one model running for years; it's about flexibility. Astute Analytica forecasts a 70% increase in 'high-mix' vehicle production by 2030.  Cobots, with their ease of reprogramming, handle this variability far better than hard-tooled lines. An automotive plant using cobots for welding can rapidly shift to a different model without costly retooling downtime.
  • Safety Drives the Bottom Line:  According to the Occupational Safety and Health Administration (OSHA), a single major workplace injury can cost a company up to $150,000. Cobots reduce this risk in crucial automotive tasks like overhead work or heavy material handling. This isn't just about worker well-being, it directly improves profitability.
  • Quality is Non-Negotiable:  Automotive consumers demand it, regulations enforce it. Cobots offer repeatable precision that surpasses human capabilities. A study by the Fraunhofer Institute found that cobots can reduce automotive part defects by over 20% in the collaborative robot market. This translates to fewer warranty claims, improved brand perception, and a real competitive advantage.
  • Customization Isn't a Luxury: Customers expect choice. Cobots adeptly handle the production complexities this brings. Think of a cobot assembling dashboard components – it seamlessly shifts between different configurations based on the vehicle order, a task difficult to achieve with traditional automation.

The automotive industry doesn't just adopt the cobots of today, its needs shape the cobots of tomorrow. Competitors who understand this will not just follow the trends this sector sets, but seek to anticipate them, driving the next wave of truly collaborative, adaptable, and intelligent robots that will benefit manufacturers across the board.

Europe is an Established Collaborative Robot Market with Revenue Share of 48%

Europe leads the world in collaborative robot adoption. It’s a mix of reasons: Europe has a large number of small enterprises, which account for almost 70% of all European installations of cobots due to an aging workforce and high labor costs necessitating flexible automation solutions. Government facilitation on industry 4.0 programs, akin to Germany’s “Industry 4.0,” further expedites investment. Moreover, acceptance is higher due to cultural differences in Europe as compared to the USA that sees cobots as tools for upskilling rather than job replacement only. Notably among these countries are Germany, Denmark and Italy whose carmakers such as BMW have deployed co-bots to undertake precision tasks while Danish firm OnRobot has created flexible grippers suitable for European factories.

Mostly it means integrating cobots into data-driven strategies (over 60% of investments tied to digitalization efforts), emphasis on niche applications backed by its ‘Mittelstand’ firms, and a greater importance attached to dependability over cheaper initial cost. Europe’s innovation potential can be seen in construction exoskeletons, healthcare assistive robots and soft fruit harvesting cobots done by companies different from traditional manufacturing players. The growth in RaaS models across the global collaborative robot market decreases barriers to entry for SMEs. However, the challenge is still with skills deficiency; hence industry-government collaboration in apprenticeship programs.

To address this region manufacturers must go beyond just providing the basic requirements or core system components. Just as critical as the cobot itself are associations with vision system providers and software integrators. In France an example was given where total cost ownership was highlighted alongside safety standards regulations that revolved around textile manufacturing through using cobots for adjustable packaging materials. Most importantly though, manufacturers need to spearhead upskilling schemes that will earn trust within the European market.

Global Collaborative Robot Market Key Players

  • ABB
  • AUBO Robotics Inc.
  • ComauS.p.A.
  • DENSO Robotics
  • EPSON Robots
  • F&P Robotics AG
  • Fanuc Corporation
  • FrankaEmika GmbH
  • Precise Automation, Inc.
  • Rethink Robotics, Inc.
  • Universal Robots A/S
  • Yaskawa Electric Corporation
  • Other Prominent Players

Key Segmentation:

By Component

  • Hardware
    • Robotic Arm
    • End Of Arm Tool (EOAT)
      • Welding Guns
      • Grippers
      • Others
    • Robotic Screwdrivers
    • Sanding and deburring tools
    • Sensors
    • Batteries
    • Motors
    • Controllers
    • Others
  • Software

By Load Carrying Capacity

  • Less Than 5Kg
  • 5-9 Kg
  • 10-20 Kg
  • Greater Than 20 KG

By Application

  • Material Handling
  • Assembling & Disassembling
  • Welding & Soldering
  • Palletizing and De-palletizing
  • Dispensing
  • Positioning
  • Testing
  • Sorting
  • Others

By Industry

  • Electronics
  • Automotive
  • Manufacturing
  • Logistics
  • Food and Beverage
  • Chemicals
  • Pharmaceutical
  • Others

By Region

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa (MEA)
  • South America

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About Astute Analytica

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