The global collaborative robots market is estimated to grow at a CAGR of 47% during the forecast period. The major factors contributing to the growth of the market include the rising demand for industrial robots and emerging demand in small and medium enterprises. Rising demand for industrial robots was reported across the globe, which in turn, is driving the growth of the market. For instance, as per the International Federation of Robotics (IFR), between 2018 and 2021, it is estimated that almost 2.1 million new industrial robots will be installed in factories across the globe. This represents a growth in industrial automation process across the industries, such as automotive, electronics, and metal to increase productivity and save time and cost.

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Collaborative robots or cobots are a new form of industrial automation. These are smaller and more dexterous industrial robotic arms which aim to create collaboration between human and machine without requiring complex programming or external safety infrastructure. These robots are ideal to perform repetitive and unergonomic tasks and flexible operations. They can quickly integrate and programmed with considerable ease, which makes them more profitable in settings where the robot has to conduct multiple tasks. The sale of cobots is low as compared to other industrial robots as it is a young robotics technology.

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However, the demand for cobots is expected to emerge significantly during the forecast period owing to the rising focus on the development of high payload capacity collaborative robots and the availability of funding for the development of collaborative robots. In addition, collaborative robots minimize the risk of injury owing to its lightweight, feature rounded designs with force-limitations. Cobots are easy to use and can learn quickly as compared to industrial robots that require advanced programming skills. These robots are cost-effective than industrial robots and can provide a much quicker ROI owing to faster implementation and cost-saving benefits.

Market Segmentation

Global Collaborative Robots Market by Payload Capacity
Up to 5 KG
From 6 KG to 10 KG
Above 10 KG
Global Collaborative Robots Market by Application
Assembling and Dissembling
Material Handling
Sealing/Dispensing
Welding and Finishing
Quality Testing
Processing
Others (Die-Casting and Molding)
Global Collaborative Robots Market by End-Use Industry
Automotive
Electronics
Food & Beverage
Metal & Machinery
Healthcare
Retail& E-Commerce
Aerospace
Others (Furniture & Equipment and Plastics & Polymers)
Regional Analysis

North America
United States
Canada
Europe
UK
Germany
Italy
Spain
France
Rest of Europe
Asia-Pacific
China
India
Japan
Rest of Asia-Pacific
Rest of the World
Company Profiles

ABB Ltd.
AUBO Robotics USA
Comau S.p.A.
Denso Wave Inc.
Energid Technologies Corp.
Epson America, Inc.
F&P Robotics AG
FANUC Corp.
Festo SE & Co. KG
FlexLink Holding AB
HAHN Group
KUKA AG
Locus Robotics
MABI Robotic AG
OMRON Corp.
Precise Automation, Inc.
Quanta Storage Inc
Robert Bosch GmbH
Robotiq Inc.
Robotnik Automation S.L.L.
Universal Robots A/S
Vecna Robotics, Inc.
Yaskawa Electric Corp.
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