Collaborative Robot Market
The global collaborative robot or cobot market is growing at a significant rate. The growing
industrial automation, where the assistance of robots with the human brain dramatically
improves job performance with maximum productivity and minimal error, is the key reason
for the high growth of cobots.
On the basis of the Payload Capacity, Due to its various applications in SMEs due to their
ease of deployment, high affordability, and other main features, the up to 5 kg segment
captures the highest market share in 2019 and is expected to rise at the fastest pace..
On the basis of Component, in 2019, the hardware segment accounted for the largest share of
the collaborative robot industry, as it comprises a large number of components such as
robotic arms, controls, sensors, motors, drives, and so on.
On the basis of the Application, since cobot integration reduces assembly time, improves
accuracy and performance, and reduces the risk of running large machines manually, the
assembly application segment accounted for the largest share of the collaborative robot
market in 2019.
On the basis of the End-User, With numerous applications of cobots, the automotive segment
is expected to account for the highest market share this year and rise at the fastest pace.
To boost affordability, the leading market players in the cobot ecosystem are focusing on
The government and private sector are both investing heavily in factory automation, and
factors such as improving product quality and system performance will have an impact on
collaborative robot adoption in the near future.
Geographically, APAC has surpassed Europe as the largest and fastest growing collaborative
robot market in the last two years. In China, Japan, India, and other South-East Asian
countries, the industrial revolution has increased robotics incorporation in a variety of
ABB Ltd., Universal Robots, Rethink Robotics, Kuka AG, and Fanuc Corporation are some
of the major