Collaborative robots, commonly referred to as robots, are advanced robots supposed to direct human-robot interaction inside proximity or shared space. Thanks to the characteristic, these robots are significantly gaining traction for several business packages which include assembly/ disassembly, fabric handling, inspection, and others across diverse industries. Also, increasing adoption in the small and medium establishments (SMEs) and surging investments in automation of assembly and production tactics is anticipated to assist the collaborative robots income to upward thrust through 6.4x through 2029.
Sales in the global collaborative robots market registered stellar growth over the last assessment period at 50.4% CAGR between 2014 and 2021. However, recession in the manufacturing sector due to the implementation of lockdown amid the COVID-19 outbreak across the globe has resulted in declining sales compared to the past forecast period. As per FMI, the sales of collaborative robots are expected to rise at 26% CAGR from 2022 to 2029.
Because the fourth commercial revolution ‘industry 4.0’ is ready to take the complete manufacturing and delivery chain by way of hurricane, industrial gamers are increasingly adopting efforts to increase their productivity, decline production time, and improve aid utilization thru the mixing of advanced technology. A growing fee of hard work even in conventional low-price service (LCC) international locations including China and India is further encouraging manufacturing businesses to undertake advanced automatic technology, mainly across automobile and electronics sectors.
As collaborative robots enhance the pace of manufacturing and decline repetitive hard work fees, they’re an increasing number of gaining popularity in programs which include welding, painting, quality testing, and material coping with amongst others, which is in flip, propelling the call for within the marketplace. In addition to this, growing studies and improvement (R&D) sports for developing novel multi-feature robots for diverse packages throughout several industries is envisioned to desire the increase within the international collaborative robots marketplace over the forthcoming years.
Key Players:
- Universal Robots A/S
- AUBO Robotics
- Fanuc Corporation
- Stäubli International AG
- Robert Bosch GmbH
- KUKA AG
- Precise Automation, Inc.
- Denso Wave Incorporated
- ABB Group
- Yaskawa Electric Corporation
- K2 Kinetics
- Others
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