Collaborative Robot Market is Estimated to Grow at 22.60% CAGR during the Forecast Period 2024–2032

Pune, India, October 16, 2018, MRFR Press Release/- Market Research Future published a half-cooked research report on collaborative robot market.

Collaborative Robot Market Highlights:

Robotic automation has revolutionized the manufacturing sector and is aiming to expand its reach to various other industries. Cobots are gradually becoming a trend in the robotics sector due to development in motion control technology. Cobots enabled with motion control systems are capable of carrying out industrial tasks with greater accuracy making them highly desirable among industrial sector. A major trend in the healthcare industry is the adoption of UR5 cobot, manufactured by Universal Robots, a Danish collaborative robot manufacturer. The UR5 cobot along with human supervision performs handling and sorting of blood samples at the Copenhagen University Hospital in Gentofte, Denmark. Cobots are deployed in hospitals to monitor patients vital statistics, send alerts to nurses, enter information into the patient electronic health records, undertaking simple tasks such as drawing blood, dispense medications, and move objects in the surroundings. Key market players in the collaborative robot market are investing in integrating artificial intelligence, and machine learning with cobots that drives the market growth.

Key Players:

The prominent players in the collaborative robot are FANUC Corporation (Japan), Rethink Robotics (US), MRK-Systeme GmbH (Germany), ABB (Switzerland), KUKA AG (US), Universal Robots A/S (Denmark), Precise Automation, Inc. (US), Energid Technologies Corporation (US), F&P Robotics AG (Switzerland), MABI AG (Switzerland), KAWADA Robotics Corporation (Japan), Universal Robots (Denmark), Techman Robot (Taiwan), YASKAWA Electric Corporation (Japan), and Robert Bosch GmbH (Germany).

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Collaborative Robot Market Research Report

Regional Analysis:

The global market for collaborative robot is estimated to grow at a significant rate during the forecast period from 2024 to 2032. The geographical analysis of collaborative robot market is studied for North America, Europe, Asia-Pacific, and the rest of the world. Among these Europe is accounted to hold the largest market share in the collaborative robot market due to increasing adoption of cobots in countries such as Germany, the UK, France and Spain. The market growth in Europe is also fueled by governments in the European countries supporting the adoption of factory automation solutions and Industry 4.0 drive. Key European market players such as ABB, Robert Bosch GmbH, KUKA AG and MRK-Systeme GmbH, investing strongly in research and development of safe cobots also triggers the market growth in this region. North America is expected to hold the second largest share in cobot market due to increasing demand of cobots in automotive, electronics & semiconductor, manufacturing, healthcare and aerospace industries in the US, Canada, and Mexico. Asia-Pacific collaborative market is expected to grow at a higher rate due to the presense of a large number of manufacturing, consumer electronics, and food & beverage companies in this region. Asia-Pacific region is also expected to witness growing demand for automation in countries such as China, Japan, Malaysia, Singapore, and India.