Collaborative Robots Market: Notable Developments & Geographical Outlook
According to the report’s findings, the global collaborative robots market is expected to grow significantly over the forecast period due to multiple driving factors such as increasing automation in end-use industries, labour cost reductions coupled with high precision work, and high regional demand for collaborative robots.
According to FMI, East Asia will dominate the global market,
accounting for more than 64.2 percent of collaborative robot sales by 2022.
Future Market Insights has released a new market research study on the
collaborative robots market that includes a global industry analysis from 2014
to 2021 as well as an opportunity assessment from 2022 to 2029. The report
investigates the collaborative robots market and provides critical insights for
the 2022-2029 forecast period.
Estimated to exhibit an impressive CAGR of ~26% during
the period 2022-2029, the growing automotive and electronic &
semiconductors industry, incessant technological advancements, and enhanced
range of applications of collaborative robots will remain instrumental to the
market growth, according to the FMI analyst.
The East Asia Market Creating Significant Growth Opportunities
East Asia region is projected to boost the growth of the
collaborative robots market, owing to the significant rate of automation across
industries. South Korea is the leading country in robots per 10,000-person
ratio, whereas China has currently registered the highest growth rate in the
same ratio. The inclination of these countries toward collaborative robots
fueled by significant innovations in technology is magnifying the market. Japan
holds a major share of the market in the East Asia region. To that end, East
Asia is expected to generate substantial growth opportunities in the forecast
years.
Affordable Price and Multitude of Applications of
Collaborative Robots Contributing to the Market Growth
The global collaborative robots market has been segmented
based on the different types of payload capacities, their multiple
applications, end-use industry and regions such as North America, Latin
America, Europe, South Asia, East Asia, Oceania, and the Middle East and
Africa.
- Collaborative
robots with payload capacity up to 5kg are projected to have the dominant
share of growth in the upcoming years. Lightweight collaborative robots
with payload capacity up to 5kg are being widely used for a range of applications.
The segmental growth is followed by 5-10kg payload capacity collaborative
robots.
- Based
on application, material handling is expected to hold a majority share of
the global collaborative robots market which is implemented in several
end-use industries. The general assembly is another segment that is
projected to have a fair share in the market growth.
- The
electronics and Semiconductors industry is projected to have a significant
share in the global collaborative robots market. Demand for high speed and
precision work fulfilled by collaborative robots is benefitting the
industry on a large scale.
Collaborative Robots Market: Vendor Insights
The report highlights some of the prominent market players,
who have established themselves as leaders in the global collaborative robots
market. A few examples of key players in the market are Universal Robots A/S,
AUBO Robotics, Denso Wave Incorporated, Fanuc Corporation, Stäubli
International AG, Robert Bosch GmbH, KUKA AG, Precise Automation, Inc., ABB
Group, Yaskawa Electric Corporation and K2 Kinetics among others. The global
collaborative robots market is significantly dominated by some players holding
prominent shares of the market. These players are indulging in strategic
alliances, collaborations, mergers and acquisitions. For instance, ABB Group
announced a collaboration with Kawasaki Heavy Industries Ltd. to share
knowledge and are working on joint technical and awareness opportunities.
Access Full report: https://www.futuremarketinsights.com/reports/collaborative-robot-market
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