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[Research Report] The collaborative robots market size is expected to grow from US$ 1.15 billion in 2022 to US$ 8.81 billion by 2030; it is estimated to record a CAGR of 28.9% from 2022 to 2030.
Analyst Perspective:
With the growing capabilities of collaborative robots owing to machine learning algorithms and other technologies such as neuromorphic chips, the robots would be able to complete the tasks performed by humans, driving its adoption and fostering the collaborative robots market growth. These robots will then be able to access a plethora of databases and recognize machines, people, and parts, further enabling them to derive critical insights and act upon them. Such robots are anticipated to fuel the collaborative robots market growth in the coming years.
Market Overview:
Collaborative robots are a fragment of service robots used in material handling, manufacturing, and labs. The demand for robots is increasing in factories, particularly in the manufacturing sector, where humans and robots are working in collaboration; this is resulting in the collaborative robots market growth. The advent of collaborative robots has enabled a trustworthy working environment where humans can safely work alongside robots. A few of the key factors driving the collaborative robots market include government support for the development and deployment of robotics and rapid expansion in the manufacturing industry. Governments of several nations worldwide are taking initiatives to support and promote the development and adoption of robotics in their respective countries. Such initiatives and measures taken by governments are expected to propel the market growth for industrial robotics globally, thereby bolstering the demand for collaborative robots and driving the collaborative robots market.
Payload | Application | Type | End-User Industry |
Up to 5 Kgs | Assembly | Robotic Arm | Automotive |
5-10 Kgs | Material Handling | Grippers | Metal & Machinery |
Above 10 Kgs | Pick & Place | Welding Guns | Electronics |
Quality Testing | Others | Pharmaceuticals | |
Packaging | Food & beverages | ||
Machine Tending | Logistics | ||
Welding | Others | ||
Others |
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Collaborative Robots Market: Strategic Insights
Market Size Value in US$ 1.15 billion in 2022 Market Size Value by US$ 8.81 billion by 2030 Growth rate CAGR of 28.9% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Collaborative Robots Market: Strategic Insights
Market Size Value in | US$ 1.15 billion in 2022 |
Market Size Value by | US$ 8.81 billion by 2030 |
Growth rate | CAGR of 28.9% from 2022 to 2030 |
Forecast Period | 2022-2030 |
Base Year | 2022 |
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Speak to AnalystMarket Driver:
Government Support for the Development and Deployment of Robotics
Governments of several nations worldwide are taking initiatives to support and promote the development and adoption of robotics in their respective countries. For instance, the government of Singapore, under its Industry Transformation Program, announced several measures to facilitate innovation, automation, and expansion of the companies. The Indian government has taken various measures to boost smart manufacturing in the country, including the Production Linked Incentive (PLI) scheme. A major government initiative to promote manufacturing in India, i.e., the PLI scheme, was launched in 2020 and covered 14 sectors, including automotive, pharmaceuticals, textiles, food processing, and white goods. Further, the Chinese government has taken several measures for the deployment of collaborative robots in the country’s manufacturing sector. This includes “Made in China 2025” plan for the development of high-tech industries. In addition, the government announced a five-year “Robotics Industry Development Plan” for the expansion of the country’s industrial robotics sector. The government is also offering considerable subsidies and tax breaks for industrial automation.
Moreover, in Germany, the government’s strategy “Industry 4.0,” includes the development and deployment of industrial robots. The government announced to offer non-refundable cash grants of ~US$ 78 million each year to support research institutes, companies, and academics during 2016–2020 for human-technology interaction research. Currently, ~300 study programs related to automation and robotics have been made available by the government. In addition, the South Korean government announced a US$ 2.7 million investment plan, “Second Basic Plan for Intelligent Robot Development (2014–2018).” After the end of the Second Basic Plan, it formulated and carried out the “Third Intelligent Robot Basic Plan (2019–2023).” Such initiatives and measures taken by governments worldwide are expected to propel the market growth for industrial robotics globally, thereby bolstering the demand for collaborative robots across the globe.
Segmental Analysis:
Based on payload, the collaborative robots market is segmented into:
- Others Up to 5 Kg
- 5–10 Kg
- Above 10 Kg
The Above 10 Kg segment held the largest collaborative robots market share in 2022. The robots capable of bearing the heaviest payload, i.e., more than 10 kg are large industrial arm collaborative robots that are designed for tasks where precision and reliability are of prime importance to the user which leads to segment’s growth in collaborative robots market. Applications such as packaging, palletizing, assembling & picking are preferred for these types of collaborative robots. These robots are deployed for heavy loading and unloading activities across industries such as automotive and heavy metal & machinery. In a recent development, Fanuc Robotics launched the CR-35iA with a 35 kg payload that is a human-friendly robot. The growing potential of cobots in the heavy-duty manufacturing arena is one of the major driving factors for companies investing in new products which further drives the collaborative robots market growth.
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Regional Analysis:
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In 2022, Europe held the largest revenue global collaborative robots market share. In Europe, the robust automobile sector, the presence of major premium car manufacturers, and a rise in electric vehicle manufacturing are a few factors anticipated to drive the collaborative robots market size during the forecast period.
According to ACEA, 21% of the cars across the world are manufactured in the EU by companies such as BMW, Volkswagen, Audi, and Aston Martin. Germany is the largest contributor in the automotive market share of the region, accounting for over 29% share. The country comprises major car manufacturers such as VW, BMW, Opel, Daimler AG, and Audi. On average, Germany produces over 6 million passengers as well as commercial vehicles every year.
Key Player Analysis:
Kuka AG, Yaskawa America Inc, Aubo (Beijing) Robotics Technology Co Ltd, Doosan Robotics Inc, Fanuc Corp, ABB Ltd, Rethink Robotics GmbH, Universal Robots AS, Techman Robot Inc, and Kawasaki Heavy Industries Ltd are among the key collaborative robots market players operating in the report. Among these players, Kuka AG, Fanuc Corp, ABB Ltd, Kawasaki Heavy Industries Ltd, and Yaskawa America Inc are the top five collaborative robots market players owing to a diversified product portfolio.
Recent Developments:
Inorganic and organic strategies such as mergers and acquisitions are highly adopted by companies in the collaborative robots market. A few recent key market developments are listed below:
- In March 2022, KUKA Assembly & Test GmbH and Wiksfors Technology AB announced a strategic alliance to work together in the modular home construction sector. Its goal is to make it easier for the "next-generation factories" to build off-site and assemble large housing-related parts.
- In January 2022, Yaskawa's HC-series line was enhanced by the six-axis HC10DTP and HC20DTP collaborative robots. A plug-and-play approach for simple robot system deployment is made possible by an ISO standard tool flange and electrical connections, as well as hand-guided programming, which enables users to direct instruct points without a pendant.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Payload, Application, Type, and End-User Industry
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The Global Collaborative Robots Market was estimated to be US$ 1.15 billion in 2022 and is expected to grow at a CAGR of 28.9% during the forecast period 2022 - 2030.
Government support for the development and deployment of robotics and rapid expansion in manufacturing industry are the major factors that propel the Global Collaborative Robots Market.
Advancement in Robotics Industry are impacting the Global Collaborative Robots, which is anticipated to play a significant role in the Global Collaborative Robots Market in the coming years.
The key players holding majority shares in the Global Collaborative Robots Market are Kuka AG, Yaskawa America Inc, Aubo (Beijing) Robotics Technology Co Ltd, Doosan Robotics Inc, Fanuc Corp,.
The incremental growth expected to be recorded for the Global Collaborative Robots Market during the forecast period is US$ 7.65 billion.
The Global Collaborative Robots Market is expected to reach US 8.81 billion by 2030.
The List of Companies - Collaborative Robots Market
- Kuka AG
- Yaskawa America Inc
- Aubo (Beijing) Robotics Technology Co Ltd
- Doosan Robotics Inc
- Fanuc Corp
- ABB Ltd
- Rethink Robotics GmbH
- Universal Robots AS
- Techman Robot Inc
- Kawasaki Heavy Industries Ltd
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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