DUBLIN--(BUSINESS WIRE)--The "Collaborative Robot Market - Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The Collaborative Robot Market was valued at USD 593.5 million in 2019 and is expected to reach a value of USD 1.95 billion by 2025 registering a CAGR of 23.07% in the forecast period 2020 - 2025. Collaborative robots, or cobots, are used in direct collaboration with humans to accomplish various tasks. Moreover, this may include tasks that neither the robot nor a human could accomplish on their own. The declining cost and the high return on investment offered by the robots are expected to create a positive impact on the market.
The collaborative robots are used for various tasks which include safely work alongside human workers and to detect possible collisions and stop immediately, detection of a human when entered into the robot's work envelope and operators can program these cobots to learn new paths and positions by guiding it with a hand-operated device.
The collaborative robots are used for assembling, machine tending and quality control purposes. Additionally, some of them are equipped with various sensors, controllers, teach pendants and tracking software is embedded in the robot controller so the user can track the production.
In November 2019, Invertek Drives has incorporated two cobots into the testing phase of its production line. The company believes that the cobots can handle the inspection and testing of constantly changing devices, all within a single production line.
The recent outbreak of coronavirus has made front line medical workers across the globe use technology including robots, telemedicine to help contain the pandemic that has brought the world to a standstill. Also, robots are reaping the benefits of this opportunity and are scaling up deployments of robots to disinfect hospitals.
Force-Limited Cobots are expected to hold major share
The force-limited robot uses a certain type of collaboration that can be accomplished with robots and a force limited robot is a robot that are generally designed to work along with humans. They are manufactured with force-torque sensors that helps in the detection of impacts and abnormal forces and the sensors cause the robot to stop when overloaded.
Asia -Pacific to Witness a Significant Growth Rate
Asia-Pacific is expected to record the highest growth rate over the forecast period, owing to the significant transition from industrial to collaborative robots throughout the region especially in countries such as China, Japan and South Korea.
China is dominating the regional adoption rate of collaborative robotics, owing to the massive deployment of collaborative robots in the country's manufacturing sectors that are used across various applications and Japan comes next in terms of collaborative robots that has potential for diverse applications which involve human interactions.
Moreover, China is home for various cobot manufacturers include Aubo Robotics, Elephant Robotics, Han's Robot, HIT Robot Group, Jaka Robot, Rokae and Siasus and various startups which include Elibot, Jaka and Yteam.
- ABB Ltd
- Universal Robots A/S (Teradyne Inc.)
- Robert Bosch GmbH
- Comau S.p.A.
- Denso Corporation
- Rethink Robotics Inc.
- Fanuc Corporation
- Franka Emika GmbH
- Hanwha Precision Machinery Co.Ltd
- Kuka AG
- Yaksawa Electronic Corporation
- Kossow Robots
- Kawasaki Heavy Industries, Ltd
- Kinova Inc.
- OMRON Corporation
- Stubli International AG
- AUBO Robotics
- MRK-Systeme GmbH
- Precise Automation
- Reproductive Robotics
- Doosan Robotics
- Siasun Robot & Automation Co Ltd
- Techman Robot Inc.
- Epson Robots
Key Topics Covered:
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Advancements in edge computing leading to easier implementation
4.2.2 Decreasing investment in Cobots resulting in high Return on Investment
4.2.3 Increasing demand for automation in various industrial processes
4.3 Market Restraints
4.3.1 High initial investment and the requirement of skilled workforce
4.3.2 Stringent regulations of industry operations and cyber security threats
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.2 End-User Industry
5.4.1 North America
5.4.4 Latin America
5.4.5 Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/cpjr27
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