Global Co-Robots Robotics Market – Industry Trends and Forecast to 2029

Co-Robots Robotics Market Analysis and Size

Individual solutions of various kinds have been developed in co-robots in care and support, as well as information about human-robot interaction and communication, over the past decades. Co-Robots robotics are an important part of factories; they collaborate closely with automotive fitters, and everyone does what they do best.

Data Bridge Market Research analyses that the co-robots robotics market which was growing at a value of 830.83 million in 2021 and is expected to reach the value of USD 12,760.42 million by 2029, at a CAGR of 40.70% during the forecast period of 2022-2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Co-Robots Robotics Market Scope and Segmentation

Market Definition

Robotics is an interdisciplinary research area at the intersection of engineering and computer science that involves the operation, design, and construction of robots and their use. Robotics is the design of intelligent machines that assist and help people in their daily lives. Collaborative robots are built to collaborate with humans and include safety features such as integrated sensors, passive compliance, and overcurrent detection. If the external force is too great, the integrated sensors will cause the robot to stop moving.

Global Co-Robots Robotics Market Dynamics

Drivers

• Growing trend of automation among all industry verticals

Automation has become an essential strategy for many large-scale industries to increase production efficiency and reduce costs. As more businesses move toward automation, the use of collaborative robots in manufacturing technology is growing. Industries such as automotive, electronics and semiconductor, metal, and machinery are deploying collaborative robots for assembly line processes, pick and place, injection molding, and quality check applications. Due to the introduction of touch screens, larger screens, higher resolution, remote monitoring capabilities using advanced processors, and IIOT, operators can monitor robots from any location through HMI, ultimately increasing the adoption of co-robots robotics.

• Technological advancement in human-machine interface

Technological advancements and the incorporation of Artificial Intelligence (AI) and Machine Learning (ML) technologies in industrial robots have accelerated growth. Furthermore, the introduction of 5G technology is expected to accelerate the adoption of co-robots robotics in manufacturing. The 5G wireless solution's low-latency connectivity will assist OEMs in improving robotic automation and increasing manufacturing processes' productivity, quality, and efficiency. The use of robots in industrial processes has also reduced the number of workplace accidents. Furthermore, they significantly improve product quality, which is increasing demand across various companies and enterprises.

Opportunities

• Growing investment

Several retailers and e-commerce behemoths have begun to invest in robotic technologies, which play an important role in managing their logistics and supply chain activities. These businesses are actively implementing robotics to assist their warehouse workers. The increasing demand for co robots robotics in the logistics sector will provide lucrative growth opportunities for the industry over the forecast timeframe.

Restraints

• High cost

High installation costs will act as a restraint and create additional challenges in the growth of the co-robots robotics market during the forecast period.

This co-robots robotics market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the co-robots robotics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

COVID-19 Impact on Co-Robots Robotics Market

The COVID-19 crisis is expected to have a positive impact on the market. Factors such as manufacturing disruption and the push-out of customer orders due to stalled production, new projects being delayed or furloughed, and the majority of research and development being halted have begun to have an impact on the sector. Furthermore, the disruption in the supply chain has resulted in massive inventories piling up, and sales to major end-user markets have dried up as the majority of manufacturing units have shut down globally. Due to travel restrictions, the major end-users are experiencing significantly reduced production levels, supply chain challenges, a limited workforce at the plant, and inventory bottlenecks. The current imbalance and crisis conditions have harmed the global market for collaborative robots. During a global pandemic, many robot companies are struggling to mitigate the impact of revenue losses through workforce resizing. Despite the massive losses, the market is expected to recover slowly once the situation begins to normalise. Manufacturing will gradually improve, as will the adoption of collaborative robots, but this will not be enough to compensate for the previous loss.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Development

• In 2022 DOBOT, a world-leading manufacturer of intelligent robots, has announced the release of the CR3L Collaborative Robot at the Automate Show 2022. The DOBOT CR3L is an ultra-long cobot with a reach of 1700 mm, representing an 11.5% increase over the previous DOBOT CR Series version. The robotic body of the CR3L allows it to operate in small spaces, making it ideal for applications requiring extended reach for robots, such as loading and unloading, sorting, and wide-range inspection of small parts in the consumer electronics and semiconductor industries.
• In March 2022 Fanuc Corporation has introduced the CRX-5 I A, CRX-20 I A/L, and CRX-25 I A collaborative robots, the latest additions to its popular CRX series, which also includes the CRX-10 I A and CRX-10 I A/L collaborative robots. These were shown by FANUC at the IREX (International Robot Exhibition) in Tokyo. Following the CRX-10 I A and CRX-10 I A/L, the new CRX-5 I A, CRX-20 I A/L, and CRX-25 I A cobots have payloads of 5 kg, 20 kg, and 25 kg, respectively. Both have a 10kg payload and a reach of 1,249mm and 1,418mm, respectively.

Global Co-Robots Robotics Market Scope

The co-robots robotics market is segmented on the basis of application and end use. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Application

• Human Motor Assistance
• R&D of Humanoids

End use

• Automotive
• Food and Beverages
• Logistics
• Medical and Healthcare
• Others

Co-Robots Robotics Market Regional Analysis/Insights

The co-robots robotics market is analysed and market size insights and trends are provided by country, application and end use as referenced above.

The countries covered in the co-robots robotics market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Europe is a lucrative hub for co-robots robotics. This is primarily due to the widespread use of collaborative robots in industries such as logistics, electronics, and inspection. Furthermore, various benefits such as efficient manufacturing optimization solutions and increased collaboration provided by workplace automation are expected to support market growth.

Asia-Pacific is expected to grow at a highest rate with a growing emphasis on the quality and precision of co-robots robotics leading to the implementation of maximum standards. Co-robots' ability to produce high-quality products while reducing waste, increasing efficiency, and standardising products is driving their demand in the region. Besides, the growing consumer inclination toward automation, artificial intelligence, and the evolution of other requisite technologies is providing significant growth potential for the region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Co-Robots Robotics Market Share Analysis

The co-robots robotics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to co-robots robotics market.

Some of the major players operating in the co-robots robotics market are:

• ABB (Switzerland)
• AUBO Robotics (U.S.)
• Fanuc (Japan)
• F&P Robotics (Switzerland)
• Universal Robots (Denmark)
• Kawasaki Heavy Industries, Ltd. (U.S)
• Robert Bosch GmbH (Germany)
• Precise Automation & Control Pvt Ltd. (U.S.)
• Rethink Robotics GmbH (Germany)
• Stäubli International AG. (Switzerland)
• MABI AG (Switzerland)
• YASKAWA ELECTRIC CORPORATION. (Japan)
• KUKA AG (Germany)
• TECHMAN ROBOT INC. (Taiwan)
• Doosan Robotics Inc. (South Korea)

SKU-55449