Collaborative Robots Market Size, Share, Analysis and Growth 2030

The collaborative robots market size is projected to reach US$ 8.81 billion by 2030 from US$ 1.15 billion in 2022. The market is expected to register a CAGR of 28.9% during 2022–2030. Advancement in robotics industry is likely to remain a key trend in the market.

Collaborative Robots Market Analysis

Growing adoption of collaborative robots in automotive industry and expanding manufacturing, logistics, and e-commerce industries are driving the market. The market is projected to expand at a significant pace during the forecast period, due to the significant government initiatives and support for the development and deployment of robotics. Moreover, the government initiatives to support robotics evolution and the growing focus on industrial automation are creating lucrative opportunities for the market.

Collaborative Robots Market Overview

A collaborative robot, also known as a cobot, is an industrial robot that is used to automate industrial processes. These robots are capable of safely working or operating alongside humans in a shared workspace. In most situations, a collaborative robot does repetitive, menial duties while a human worker handles more complicated and thought-intensive activities. The accuracy, uptime, and reproducibility of collaborative robots are intended to supplement the intelligence and problem-solving abilities of a human worker, further surging its adoption in heavy industries.

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Collaborative Robots Market: Strategic Insights

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Collaborative Robots Market Drivers and Opportunities

Growing Adoption of Collaborative Robots in Automotive Industry to Favor Market

The demand for passenger cars and commercial vehicles is increasing across the globe. Germany is one of the leading producers of automobiles in the world, and many major car manufacturing companies are located in the country, including Volkswagen, BMW AG, Audi, and others. According to the International Organization of Motor Vehicle Manufacturers (OICA) Germany produced over 3.4 million vehicles in 2022, including both passenger cars and commercial vehicles. Approximately 70 percent of most premium brands' vehicles globally are manufactured by German companies. Also, the country's Machinery and Equipment sector is leading in the European region. Moreover, materials processing represents an essential component of the country's industrial culture. The presence of these industries is expected to boost the demand for collaborative robots.

The Government Initiatives to Support Robotics Evolution

Numerous government initiatives supporting the robotics evolution in the country are fueling the growth of the collaborative robot’s market. According to the press release by the International Federation of Robotics 2023, in 2022, the government of Japan granted total funding of US$ 930.5 million under the "New Robot Strategy" program, benefitting the manufacturing sector with US$ 77.8 million, nursing & medical with US$ 55 million, infrastructure with US$ 643.2 million, and agriculture with funding of US$ 66.2 million. The funding aimed to advance air mobility and integrated technology pertaining to artificial intelligence and robots. Furthermore, the government also allocated US$ 440 million from 2020 to 2025 under the "Moonshot Research and Development Program" to develop robotics projects, accelerating the adoption of collaborative robots in Japan.

Collaborative Robots Market Report Segmentation Analysis

Key segments that contributed to the derivation of the collaborative robots market analysis are payload, application, type, and end-user industry.

• Based on payload, the collaborative robots market is divided into up to 5 Kgs, 5-10 Kgs, and above 10 Kgs. The above 10 Kgs segment held a larger market share in 2022.
• In terms of application, the market is divided into assembly, material handling, pick & place, quality testing, packaging, machine tending, welding, and others. The assembly segment held a larger market share in 2022.
• On the basis of type, the collaborative robots market is segmented into the robotic arm, grippers, welding guns, and others. The robotic arm segment held a larger market share in 2022.
• By end-user industry the market is divided into automotive, metal & machinery, electronics, pharmaceuticals, food & beverages, logistics, and others. The automotive segment held a larger market share in 2022.

Collaborative Robots Market Share Analysis by Geography

The geographic scope of the collaborative robots market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.

The market in Europe is projected to expand during the forecast period, due to the growing adoption of collaborative robots in Germany, France, Italy, the UK, Russia, Sweden, and others to automate industrial processes. The automotive sector of France contributes a major share in its GDP; many companies, including vehicle makers, equipment makers, engine manufacturers, concept designers and car body designers, are located in the country. The patents filed by this sector in the country is more than any other sector in France, which shows the high investment in R&D in the country's automotive sector. Furthermore, the government is constantly introducing new policies to help the country's automobile industry grow. Also, the government is helping the local automobile companies and attracting foreign companies to invest in the country's automobile sector. Furthermore, the country is also well-known for its aerospace industry, ruled by Airbus, one of the leading aircraft manufacturers globally. Additionally, expanding automotive and aerospace industries in Europe is driving the market.

Collaborative Robots Market Regional Insights

The regional trends and factors influencing the Collaborative Robots Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Collaborative Robots Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Collaborative Robots Market Report Scope

Market Players Density: Understanding Its Impact on Business Dynamics

The Collaborative Robots Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Collaborative Robots Market are:

1. Kuka AG
2. Yaskawa America Inc
3. Aubo (Beijing) Robotics Technology Co Ltd
4. Doosan Robotic Inc
5. Fanuc Corp
6. ABB Ltd

Disclaimer: The companies listed above are not ranked in any particular order.

Collaborative Robots Market News and Recent Developments

The collaborative robots market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the collaborative robots market are listed below:

• Techman Robot collaborated with NVIDIA’s Isaac Sim platform to develop digital twin that enhanced the efficiency of robot production line inspection. This collaboration aims to reduce robot programming time by 70% and cycle time by 20%, resulting in significant time and cost savings. (Source: Techman Robot Inc, Company Website, June 2023).
• Doosan Robotics, a global leader in collaborative robot manufacturing, introduced E-SERIES, an NSF-certified collaborative robot line designed exclusively for the food and beverage (F&B) market. It was established to assist in transforming the food and beverage industry by providing fast solutions to labor shortages and boosting work efficiencies. Its 5kg payload and approximately 3ft reach (900mm) gave enough capability to accomplish any meal duty. (Source: Doosan Robotic Inc, Company Website, April 2023).

Collaborative Robots Market Report Coverage and Deliverables

The “Collaborative Robots Market Size and Forecast (2020–2030)” report provides a detailed analysis of the market covering below areas:

• Collaborative robots market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Collaborative robots market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Collaborative robots market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the collaborative robots market
• Detailed company profiles