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The report "Collaborative Robot (Cobot) Market
by Payload, Component (End Effectors, Controllers), Application
(Handling, Assembling & Disassembling, Dispensing, Processing),
Industry (Electronics, Furniture & Equipment), and Geography -
Global Forecast to 2026", is expected to grow from USD 981
million in 2020 to USD 7,972 million by 2026, at a CAGR of 41.8%.
Collaborative robots are increasingly being adopted by various
industries due to advantages such as increased productivity and
effective employee utilization, as well as improved workplace safety.
Small- and medium-sized businesses manufacturers, especially in
developed countries, are expected to quickly adopt collaborative robots,
as many of these smaller sized businesses are yet to adopt robotic
automation in their production processes. Collaborative robots (cobots)
can adapt to changing requirements as they are easily re-deployable and
reprogrammable, which benefit small companies. Cobots are being adopted
by large manufacturing companies as well for increased cost savings and
improving the ergonomic work conditions for workers.
Browse 84 market data Tables and 42 Figures spread through 181 Pages and in-depth TOC on "Collaborative
Robot (Cobot) Market by Payload, Component (End Effectors,
Controllers), Application (Handling, Assembling & Disassembling,
Dispensing, Processing), Industry (Electronics, Furniture &
Equipment), and Geography - Global Forecast to 2026"
Automotive industry to hold largest share of market throughout forecast period
Cobots
in the automotive industry are not only being used by major car
manufacturers, but also by numerous OEMs that supply automotive parts to
these car manufacturers. As customers are demanding a greater degree of
customization in their cars, manufacturers always have to be prepared
for changes in their production layout to address changes in customer
demands. Therefore, besides the precision and efficiency of traditional
industrial robots, flexibility has also become a key factor in the
manufacturing process. Cobots are also being used to perform
ergonomically unfavorable jobs in the automotive industry. Due to the
large-scale and manufacturing ecosystem of the automotive industry,
which consists of OEMs and suppliers besides the large automotive
companies, it is expected to hold the largest share of the market
throughout the forecast period.
Market for assembling & disassembling applications to grow at highest CAGR during forecast period
Cobots
are being used for assembly applications for both small and large
workpieces. For smaller workpieces, cobots provide a greater degree of
repeatability than traditional handheld screwdriving systems providing
the right torque and depth, while also having the ability to work
alongside workers, speeding up the overall assembly process. For medium
and large-sized workpieces, cobots are being used for nut fastening.
Hence cobots can perform simple assembly tasks more consistently, while
the worker can simply supervise the operation to maintain quality
control.
Collaborative robot market in APAC to grow at fastest rate during 2020–2026
The
collaborative robot market in Europe is expected to be surpassed by
APAC by 2021. This is due to the large scale of manufacturing industries
in APAC, especially the automotive, electronics, and metals sectors who
are increasingly deploying cobots. China, Japan, and South Korea
account for most of the automotive vehicles in APAC, whereas Taiwan,
China, and South Korea, account for the largest electrical and
electronics manufacturers in the world. Regional players such as Doosan
Robotics (South Korea) and Techman Robot (Taiwan) have successfully
developed cobots, which can directly compete with cobot manufacturers
from Europe. China has houses several low-cost manufacturers such as
Elephant Robotics (China), Han’s Robot (China), and Siasun (China) who
are driving the growing acceptance of cobots.
Major
companies in the collaborative robot market are Universal Robots
(Denmark), Techman Robot (Taiwan), FANUC (Japan), KUKA (Germany), Doosan
Robotics (South Korea), AUBO Robotics (US), ABB (Switzerland), YASKAWA
(Japan), Precise Automation (US), and Rethink Robotics (US). Apart from
these, Automata (UK) Productive Robotics (US) are among a few emerging
companies in the collaborative robot market.
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