The 2019 Collaborative Robot industry record is a complete report that provides important statistical survey records for new market contributors and installed players. The ease of payments, along with the high level of security, is stoking the popularity of sales through e-commerce.
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Global Collaborative Robot Market is expected to rise from its initial estimated value of USD 730 million in 2018 to an estimated value of USD 18,461.1 million by 2026, registering a CAGR of 49.75% in the forecast period of 2019-2026. Few of the major competitors currently working in the collaborative robot market are Universal Robots, Rethink Robotics, ABB, KUKA AG, Kawasaki Heavy Industries Ltd., FANUC CORPORATION, Robert Bosch GmbH, MRK-Systeme GmbH, Precise Automation LLC, Energid Technologies Corporation, F&P Robotics AG, MABI AG, Quanta Storage Inc., Franka Emika GmbH, Smokey Robotics / AUBO Robotics, YASKAWA ELECTRIC CORPORATION, Comau, KAWADA Robotics Corporation, Teradyne Inc., and Midea Group.
This rise in market value can be attributed to the increasing advancements in the market and investments carried out in the market. Segmentation on global collaborative robot market are
- By Components
- End Effector
- By Payload Capacity
- 0-5 KG
- 5-10 KG
- Above 10 KG
- By Application
- Pick & Place
- Machine Tending
- Quality Testing
- Material Handling
- Packaging & Palletizing
- Gluing & Welding
- Lab Analysis
- Painting & Polishing
- Screw Driving
- Injection Molding
- Analysis & Testing
- Press Tending
- Specimen Processing
- By Industry
- Metals & Machining
- Plastics & Polymers
- Food & Beverages
- Furniture & Equipment
- Scientific Research
- Third Party Logistics
- Consumer Goods
- Die Cast & Foundry
- By Geography
- North America
- South America
- Middle East and Africa
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Collaborative robots are a new and innovative kind of robots that are present in a common workplace along with the humans to physically work in combination with them and interact with them as much as any human would even asking for help of any form from them. The collaborative robots are present to relieve the workload and support the human beings in any way possible.
Global collaborative robot market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of collaborative robot market for global, Europe, North America, Asia Pacific and South America.
- Increasing investments in the industry inducing advancements in the market is expected to drive the market growth
- Increased return on investments over a longer period of business operations with the usage of these robots is also expected to drive the market growth
- High installation cost acts as a restraining factor for the market growth as the cost of business operations are increased
- Lack of ability for faster operational cycle and repetition of operations is also expected to restrain the market growth
The pervasive use of the Internet and the rampant use of social networking platforms have also spurred overall growth in the collaborative robot market. The Asia-Pacific region is expected to grow quickly over the planned period the growth of the collaborative robot market was also driven by the presence of leaders. Profiles of the company were included in this report. Not only that, but also the steadily increasing number of online banking firms continues to drive market growth. The region of North America has a humorous share of the collaborative robot market, mainly because different smart devices, such as tablets, laptops and smartphones, are widely used. In countries like India and China, companies have used software content tools to improve their user experience through a wide range of e-commerce platforms.
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Recent Developments in the Market:
- In June 2018, ABB and Kawasaki co-designed a first of its kind collaborative interface for collaborative robots. The interface was presented at automatica in Munich, Germany.
- In May 2018, FANUC CORPORATION announced the expansion of three production factories to expand the production capacity of its collaborative robots and meet the exceeding demands.
Major Points from Table of Content of collaborative robot Market:
- Research Methodology
- Executive Summary
- Key Inferences
- Market Overview
- Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
- Market Segmentation
- Competitive Landscape
- Key Players
- Future of the Market
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involved
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