Collaborative Robots Market by Application and Geography - Forecast and Analysis 2021-2025

The collaborative robots market share is expected to increase by USD 1.08 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 16.08%.

This collaborative robots market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers collaborative robots market segmentations by application (material handling, assembly, inspection and testing, welding, and painting and dispensing) and geography (Europe, APAC, North America, South America, and MEA). The collaborative robots market report also offers information on several market vendors, including ABB Ltd., FANUC Corp., Festo SE and Co. KG, Fiat Chrysler Automobiles NV, Hans Laser Technology Industry Group Co. Ltd., Kawasaki Heavy Industries Ltd., Robert Bosch GmbH, Staubli International AG, Teradyne Inc., and Yaskawa Electric Corp. among others.

What will the Collaborative Robots Market Size be During the Forecast Period?

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Collaborative Robots Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The increased adoption rate in SME sector is notably driving the collaborative robots market growth, although factors such as regulatory hurdles faced by vendors may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the collaborative robots market industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Collaborative Robots Market Driver

One of the key factors driving the collaborative robots market is the increased adoption rate in SME sector. Outsourcing of manufacturing operations to low-cost locations has impeded the expansion of the SME sector in industrialized countries. Collaborative robots are increasingly being used in the industrial sector to keep the balance of large, small, and medium-sized firms in industrialized countries. As a result, SMEs are becoming more interested in installing collaborative robots on their production floors. Furthermore, demand for applications such as pick-and-place, machine tending, material handling, assembly line, welding, packing, and inspection, particularly in the SME sector, is expected to propel the market forward.. In February 2021, ABB launched new GoFa and SWIFTI cobot families, offering high payloads and speeds, to complement YuMi and Single Arm YuMi in the company's cobot line-up. These cobots are strong, fast, and highly capable cobots that accelerate the company's expansion in the high-growth segments, including electronics, healthcare, consumer goods, logistics, and food and beverage, among others, meeting the growing demand for automation across multiple industries.

Key Collaborative Robots Market Trend

Advances in vision systems is another factor supporting the collaborative robots market growth in the forecast period. Vision systems are being augmented by specialized sensors that can heighten the perception of collaborative robots and their positioning in a 3D space. For instance, ABB collaborative robots are incorporated with technologies such as Integrated Force Control and Integrated Vision that allow for 2D and 3D vision. As a result, they eliminate the need for traditional machine fencing and barriers. Moreover, vision systems and sensors are intuitive and facilitate rapid decision-making and troubleshooting. In addition, Technavio expect that the emergence of startups and new entrants such as Veo Robotics and Osaro to leverage machine learning tools to develop machine vision. Moreover, Osaro is developing a vision software to ensure the efficiency of collaborative robots in applications in the pharmaceutical and F&B industries. On the other hand, Veo Robotics provides an advanced vision system that can detect objects and humans in the robot's surroundings, thereby ensuring a safe environment for workers. Therefore, such development will further surge the adoption of collaborative robots which will further drive the growth of the market during the forecast period.

Key Collaborative Robots Market Challenge

Regulatory hurdles faced by vendors will be a major challenge for the collaborative robots market during the forecast period. Collaborative robots are built in accordance with standards to ensure human safety while also improving design characteristics including cushioned arms, rounded bodies, and lightweight attributes. Furthermore, a big problem for collaborative robot vendors is ensuring that their services comply with international standards, reducing liability and compliance expenses for robot manufacturers, and ensuring that the collaborative robot can be sold anywhere in the globe. Furthermore, substantial norms and standards exist in several regions, such as in Europe: Vendors must ensure that all new machinery that falls under the scope of the Machinery Directive, including collaborative robots, is designed and built to meet the common, minimum safety requirements. Furthermore, in 2020, there will be regulatory and policy changes, including strict artificial intelligence (AI) laws in the United States and the European Union (EU), which will have far-reaching implications for technology businesses and government agencies. Furthermore, the EU unveiled its long-awaited draught legislation for the use of AI in late April 2021, outlawing some inappropriate uses and requiring strong safeguards, such as documentation verification of safety and human oversight, to ensure AI technology is trustworthy.

This collaborative robots market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global collaborative robots market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the collaborative robots market during the forecast period.

Who are the Major Collaborative Robots Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• ABB Ltd.
• FANUC Corp.
• Festo SE and Co. KG
• Fiat Chrysler Automobiles NV
• Hans Laser Technology Industry Group Co. Ltd.
• Kawasaki Heavy Industries Ltd.
• Robert Bosch GmbH
• Staubli International AG
• Teradyne Inc.
• Yaskawa Electric Corp.

 

This statistical study of the collaborative robots market encompasses successful business strategies deployed by the key vendors. The collaborative robots market is fragmented and the vendors are deploying growth strategies such as inorganic growth in the market through M&A of technology-based companies to compete in the market.

Product Insights and News

• ABB Ltd. - The company offers solutions for collaborative robots under the brand name of YuMi. YuMi provide automated robots that can work side by side with humans thus increasing the efficiency of work.
• Robert Bosch GmbH - The company offers solutions for collaborative robots under the brand name of Bosch APAS. Bosch APAS offers Human-robot collaboration (HRC) that offers more efficiency at work. The subsidiary of Bosch that handles this brand is Rexroth.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The collaborative robots market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Collaborative Robots Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the collaborative robots market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of global industrial machinery market includes the following core components:

• Inputs
• Inbound logistics
• Operations
• Outbound logistics
• Marketing and sales
• Service
• Support activities
• Innovation

The report has further elucidated on other innovative approaches being followed by manufacturers providers to ensure a sustainable market presence.

 

Which are the Key Regions for Collaborative Robots Market?

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34% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for collaborative robots market in APAC. Market growth in this region will be faster than the growth of the market in North America, MEA and South America regions.

The emergence of local vendors that provide low-cost and high-quality products will facilitate the collaborative robots market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The increase in the spread of COVID-19 has challenged the growth of the collaborative robots market in APAC. Governments in this region have taken initiatives such as the imposition of lockdown to stop the spread of the disease. Such measures have negatively impacted the supply chain and have restricted the growth of the collaborative robots market in the region during the forecast period.

What are the Revenue-generating Application Segments in the Collaborative Robots Market?

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The collaborative robots market share growth by the application segments. Material handling segment will be significant during the forecast period. From the collaborative robots market segmentation insights, players can identify the demand pattern of target customers and make effective business plans to capture untapped segments. In addition, the analytical data on the segmentations will enable effective product and service positioning among the right end-users, which will facilitate significant exposure and growth for the vendors.

Besides the above-mentioned factors, the post COVID-19 impact has brought forth a slowdown in or fast tracked the demand for the service or product. This report provides an accurate prediction of the contribution of all the segments to the growth of the collaborative robots market size and actionable market insights on post COVID-19 impact on each segment.

 

Collaborative Robots Market Scope
Report Coverage	Details
Page number	120
Base year	2020
Forecast period	2021-2025
Growth momentum & CAGR	Accelerate at a CAGR of 16.08%
Market growth 2021-2025	$ 1.08 billion
Market structure	Fragmented
YoY growth (%)	15.54
Regional analysis	Europe, APAC, North America, South America, and MEA
Performing market contribution	APAC at 34%
Key consumer countries	US, China, Germany, Japan, and France
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	ABB Ltd., FANUC Corp., Festo SE and Co. KG, Fiat Chrysler Automobiles NV, Hans Laser Technology Industry Group Co. Ltd., Kawasaki Heavy Industries Ltd., Robert Bosch GmbH, Staubli International AG, Teradyne Inc., and Yaskawa Electric Corp.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Collaborative Robots Market Report?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive collaborative robots market growth during the next five years
• Precise estimation of the collaborative robots market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the collaborative robots industry across Europe, APAC, North America, South America, and MEA
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of collaborative robots market vendors

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