Pune, Nov. 29, 2019 (GLOBE NEWSWIRE) -- The global Collaborative Robots Market is likely to derive growth from recent technological advancements in manufacturing of the products. According to a report published by Fortune Business Insights, titled “Collaborative Robots Market Size, Share & Industry Analysis, By Payload Capacity (Up to 5 Kg, 6-10 Kg, 11 Kg and Above), By Application (Welding, Material Handling, Quality Testing, Painting/Spraying, Assembling, Others), By Industry (Automotive, Electronics & Semi-Conductors, Food & Beverages, Retail, Metal & Machining, Rubber & Plastic, Others) and Regional Forecast, 2019-2026,” the market size was USD 1.57 billion in 2018 and is projected to reach USD 23.59 billion by 2026, exhibiting a CAGR of 40.7% during the forecast period.
Collaborative robots are gaining rapid popularity among users across numerous industries. The demand for these products is likely to increase further in the coming years. Concepts such as artificial intelligence (AI) and the internet of things (IoT) have enabled rapid advancements in these products. Integration of latest concepts have allowed better operational efficacies and an overall increase in the precision and accuracy involved with these devices. Automation has played a major role towards the advancements that these devices have made in recent years. The use of embedded systems has created several growth opportunities for the companies operating in this market. Collaborative robots (cobots) are used to assist humans for handling heavy loads and perform repetitive tasks at workplaces. They are used for manufacturing purposes such as assembly and material handling of large equipment.
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https://www.fortunebusinessinsights.com/industry-reports/collaborative-robots-market-101692
The report offers detailed insights into the Collaborative Robots Market. It highlights key aspects of the market and focuses on leading elements of the market. Moreover, it discusses the competitive landscape of the market. Through a combination of primary and secondary research approaches, forecast values of the market have been evaluated and presented in this report, specifically for the period of 2019-2026.
High Investment and Automated Concepts Have Ignited Several Product Innovations
The potential held by collaborative robots has attracted several investors in recent years. Increased investments have subsequently led to several product innovations. Recent product innovations, with regard to operational time, precision, and efficiency will aid the growth of the market in the coming years. The report highlights a few of the leading products of recent years and discusses their impact on the market. In September 2019, Universal Robots announced the launch of a new robotic model aimed at handling heavy payloads. The company introduced the UR16e, a system that can handle almost 16 kg of payloads and subsequently serve large-scale industrial purposes. Universal’s latest model will help the company generate substantial Collaborative Robots Market revenue in the coming years. Additionally, this model will have a direct impact on the growth of the market.
Asia Pacific Projected to Hold a Dominant Market Share; Trends of Customized Machinery to Aid Growth
The report segment the Collaborative Robots Market on the basis of regional demographics into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among these, Asia Pacific is projected to hold the highest cobots market share in the coming years. The increasing demand for customized machinery have offered a wider potential for the companies operating in several countries across this region. As of 2018, the market in Asia Pacific was worth USD 780.1 Mn and this value is likely to increase further in the coming years, driven by the increasing number of cobots manufacturers in China. Besides Asia Pacific, Europe and North America will witness considerable growth due to the presence of several renowned companies.
List of leading companies that are operating in the global Collaborative Robots Market are:
- Universal Robots
- Rethink Robotics GmbH
- Denso Wave Incorporated
- Fanuc Corporation
- Bosch Rexroth AG
- ABB
- Yaskawa America, Inc.- Motoman Robotics Div.
- AUBO Robotics
- Stäubli International AG.
- K2 Kinetics
Key Industry Developments:
September, 2019: OnRobot A/S announced the launch of a new interface to accelerate the operations of existing products. The ‘OnRobot A/S’ is a unified electrical and mechanical system interface for its end-of-arm tooling.
February, 2017: Universal Robots A/S offered online training modules with a view to spreading knowledge on automated concepts and initiate maximum user-engagement.
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Table of Content:
- Introduction
- Definition, By Segment
- Research Approach
- Sources
- Executive Summary
- Market Dynamics
- Drivers, Restraints and Opportunities
- Emerging Trends
- Key Insights
- Macro and Micro Economic Indicators
- Consolidated SWOT Analysis of Key Players
- Porter’s Five Forces Analysis
- Policies and Regulations
- Global Collaborative Robots Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Sizing Estimations and Forecasts – By Payload Capacity (Value)
- Upto 5 Kg
- 6-10 Kg
- 11 Kg and Above
- Market Sizing Estimations and Forecasts – By Application (Value)
- Welding
- Material Handling
- Quality Testing
- Painting/Spraying
- Assembling
- Others (Packaging, etc.)
- Market Sizing Estimations and Forecasts – By Industry (Value)
- Automotive
- Electronics & Semi-Conductors
- Food & Beverages
- Retail
- Metals & Machining
- Rubber & Plastic
- Others (Aerospace, Agriculture, etc.)
- Market Analysis, Insights and Forecast – By Geography (Value)
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
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