The Global Collaborative Robots Market is expected to reach USD 6.77 billion by 2025, according to a new report by Hexa Reports. The growing interest of Small and Medium-sized Enterprises (SMEs), owing to the low price of cobots, is projected to increase the deployment over the forecast period.
The application of cobots in industries such as automotive, furniture and equipment, metal and machining, plastic and polymers, and food and beverages is expected to drive the market growth over the projected period. The increasing focus of OEMs and consumers on safety of operations, such as gluing and welding, pick & place, and machine tending, is expected to propel cobots’ growth.
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Collaborative robots apply advanced technologies, which include collision detection, torques sensing, and elastic actuators, for completing tasks in an efficient manner. The material handling segment is expected to witness a significant growth over the forecast period owing to the rising investments in setting up new manufacturing facilities. The presence of existing manufacturing facilities, decreasing ergonomic hazards for workers, and increasing adoption of cobots for packaging is projected to fuel the market for handling application.
The rising industrial automation in emerging regions such as Asia Pacific and the growing trend of precision and rise in safety-rated manufacturing in developed regions, such as Europe and North America, would enhance the industry growth. Furthermore, regulations for mitigating the imminent collisions and the need for safety fences between human and robots are also important factors for growth. The automotive segment is expected to be the major revenue generating segment owing to the well-established automotive market in China and Japan and the growing demand of passenger cars over the forecast period.
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Further key findings from the report suggest:
Cobots are enormously deployed in small and medium-sized enterprises owing to the high adaptability and affordability
Cobots with above 10kg payload capacity are expected to grow significantly owing to their capability of handling higher payload capacity tasks
The material handling segment dominated the market share in 2015 and is expected to grow significantly over the projected period owing to the increasing adaptability and deployment in SMEs
The automotive segment dominated the cobots market and is expected to maintain the dominance over the next four years owing to the well-established automotive industry base in the emerging region
The Asia Pacific collaborative robots market is projected to witness a significant growth over the forecast period, owing to the growing demand in the handling application and automotive industries
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