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Collaborative Robots Market Is Expected To Reach at USD 1.01 Billion By 2022, at a CAGR Of 31.5% during Forecast Period 2023 To 2030 | Data By Contrive Datum Insights Pvt Ltd.

Contrive Datum Insights Pvt Ltd
Contrive Datum Insights Pvt Ltd

According to a market research study published by Contrive Datum Insights, The Asia-Pacific region should have a CAGR of more than 34.0% by 2030.

Farmington, Feb. 03, 2023 (GLOBE NEWSWIRE) -- The Global Collaborative Robots Market Size Was Valued At USD 1.01 Billion In 2022 And Is Expected to Expand at a CAGR of 31.5%, from 2023 to 2030. This growth can be explained by the fact that more and more small and medium-sized businesses (SME) are using collaborative robots (also called "cobots") (SMEs). More and more, these companies are investing in cobots that can work with humans in a shared workspace and automate manufacturing processes. Artificial intelligence (AI) and machine learning (ML) are being used in industrial robots, which has helped the growth even more.

Request Sample Copy of Report “Collaborative Robots  Market - Global Industry Analysis, Size, Share, Growth Opportunities, Future Trends, Covid-19 Impact, SWOT Analysis, Competition and Forecasts 2022 to 2030”, published by Contrive Datum Insights.

Recent Developments:

  • In July 2022, FANUC America Corporation (US), a leading supplier of CNCs, robotics, and ROBOMACHINEs, announces a West Campus expansion that will push its operational space in Oakland County, Michigan to nearly two million square feet. The construction will include a 655,000 square foot state-of-the-art facility to house manufacturing, engineering, and R&D projects.

  • In June 2022, Universal Robots A/S (Denmark) launched a new 20 kg cobot called the UR20 to its product range. A 20kg (44.1lbs.) payload capacity, which is 4kg more than UR’s previous heaviest load capability of 16kg with its UR16e cobot. Reach of 1750mm, which is 450mm more than the longest previous UR cobot reach of 1300mm with the UR10e.

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Segment Analysis:

Payload Capacity Insights

The sub segment of 6–10 kg and up to 5 kg is expected to grow quickly because it can do a lot of operations quickly and over and over again.

The 11 kg and above sub segment is expected to grow a lot in the next few years because the automotive industry needs to do important jobs like putting together spare parts and components, building the engine, tightening bolts on cars, and so on.

Industry Insights

Automotive Industry is likely to stay at the top for the foreseeable future, as manufacturers work to lower operating costs, assemble spare parts and components faster, paint and coat, and improve the overall ergonomics of the workplace. Cobots are used with laser-cutting machines, engine foundries, moulding machines, packaging and palletizing lines, and forming presses in the automotive industry.

In the coming years, the sub segment of electronic and semi-conductors is expected to grow quickly. This is because more people are buying electronic goods, nanotechnologies are becoming more popular, and sensitive conductors are being used.

Application Insights

Over the next few years, the material handling sub segment is expected to have the largest market size. This is because of rising demand from the automotive, food and beverage, electronics, and semi-conductor industries. Also, material handling is very important in these kinds of businesses because some of the parts are fragile and need to be moved carefully. Robots are often used in this kind of situation to keep workers safe and cut down on accidents.

Industry Vertical Insights

In 2021, 68.6% of the market's total revenue came from the oil and gas segment. During the time frame of the forecast, it is expected to grow at a CAGR of more than 8%. The oil and gas segment includes crude oil, natural gas, biogas fuels, petroleum, and refineries. In the oil and gas business, the main way to move things is through a pipeline. Collaborative Robotss are being put in place so that it is safe and accidents don't happen. Also, using detection systems makes less of an impact on the environment, cuts down on waste, and gives real-time analysis that makes it easy to find mistakes and fix them quickly.

Regional Outlook:

The Asia-Pacific region should have a CAGR of more than 34.0% by 2030. This is because the quality and accuracy of cobots are getting more and more attention, which is leading to the creation of maximum standards. Cobots are in high demand in the area because they can make high-quality products, reduce waste, improve efficiency, and standardise products. The region also has a lot of growth potential because consumers are becoming more interested in automation, artificial intelligence, and the development of other important technologies.

Europe was the place with the most growth in 2021.

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Scope of Report:

Report Attributes

Details

Growth Rate

CAGR of 31.5% from 2023 to 2030.

Revenue Forecast by 2022

USD 1.01 Billion

By Payload Capacity

Up to 5 Kg, 6-10 Kg, 11 Kg and Above, Others

By Industry

Automotive, Electronics & Semi-Conductors, Food & Beverages, Retail, Metals & Machining, Rubber & Plastic, Others

By Application

Leak Detection, Operating Condition, Pipeline Break Detection, Others

By Industry Vertical

Welding, Material Handling, Quality Testing, Painting/Spraying, Assembling, Others

By Companies 

Universal Robots, Rethink Robotics GmbH, Denso Wave Incorporated, Fanuc Corporation, Bosch Rexroth AG, ABB, Yaskawa America, Inc, Motoman Robotics Div., AUBO Robotics, Stäubli International AG K2 Kinetics, Rethink Robotics (U.S.), MABI Robotic (Switzerland), FrankaEmika (Germany), F&P Robotics (Switzerland), Neura Robotics (Germany)

Regions and Countries Covered

  • North America: (US, Canada, Mexico, Rest of North America)

  • Europe(Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)

  • Asia-Pacific (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)

  • The Middle East & Africa(Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)

  • Latin America(Brazil, Argentina, Rest of Latin America)

  • Rest Of the World

Base Year

2022

Historical Year

2017 to 2022

Forecast Year

2023 to 2030

Market Drivers:

Small and medium-sized businesses, especially in developed countries, are expected to quickly use collaborative robots in their production processes. Small and medium-sized businesses (SMEs) that already use collaborative robots see benefits in their overall competitiveness, increased production, and better product quality. For example, the UR10 collaborative robot from Universal Robots A/S (Denmark) is used by Betacom Limited (New Zealand), a small company that makes lighting solutions for roads, areas, and tunnels, to put LED lenses on the circuit board.

Market Opportunities:

Because of the COVID-19 pandemic, there are now more robots being used in health care. During the pandemic, robots were used to clean patient rooms and surgery rooms. Several hospitals used robots to spray disinfectant and make sure people wore masks and stayed away from sick people as the rules said. In some hospitals, robots were programmed to use a thermal camera to do a first screening of patients. This was done to stop the spread of COVID-19.

Key Segments Covered:

Top Market Players:
Universal Robots, Rethink Robotics GmbH, Denso Wave Incorporated, Fanuc Corporation, Bosch Rexroth AG, ABB, Yaskawa America, Inc, Motoman Robotics Div., AUBO Robotics, Stäubli International AG K2 Kinetics, Rethink Robotics (U.S.), MABI Robotic (Switzerland), FrankaEmika (Germany), F&P Robotics (Switzerland), Neura Robotics (Germany), and others.

By Payload Capacity

  • Up to 5 Kg

  • 6-10 Kg

  • 11 Kg and Above

  • Other

By Industry

  • Automotive

  • Electronics & Semi-Conductors

  • Food & Beverages

  • Retail

  • Metals & Machining

  • Rubber & Plastic

  • Others

By Application

  • Welding

  • Material Handling

  • Quality Testing

  • Painting/Spraying

  • Assembling

  • Others

Regions and Countries Covered

  • North America: (US, Canada, Mexico, Rest of North America)

  • Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)

  • Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)

  • The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)

  • Latin America: (Brazil, Argentina, Rest of Latin America)

  • Rest Of the World

Check out more related studies published by Contrive Datum Insights:

  • Embedded Field Programmable Gate Array (FPGA) Market - The Global Embedded Field Programmable Gate Array (FPGA) Market Was Valued At $73.2 Million In 2022, And Is Projected To Reach $310.3 Million By 2030, Growing At A CAGR Of 15.6% From 2022 To 2030. North America accounted for the largest market shares.

  • Collaborative Robots Market - The Global Collaborative Robots Market Size Was Valued At $1,168 Billion In 2022, And Is Projected To Reach $5,424 Billion By 2030, Growing At A CAGR Of 20.6% From 2023 To 2030. In 2021, North America was the leader in the Collaborative Robots market and made up more than 30% of the world's revenue.

  • Payment Security Market - The global Payment Security Market size was valued at USD 17.64 billion in 2022 and is expected to reach USD 60.56 billion by 2030, at a CAGR of 13.2% from 2022 to 2030. North America holds the highest position in the global Payment Security market share in 2021.

Customization of the Report: The report can be customized as per client needs or requirements.For any queries, you can contact us on anna@contrivedatuminsights.com or +1 215-297-4078. Our sales executives will be happy to understand your needs and provide you with the most suitable reports.

About Us:
Contrive Datum Insights (CDI) is a global delivery partner of market intelligence and consulting services to officials at various sectors such as investment, information technology, telecommunication, consumer technology, and manufacturing markets. CDI assists investment communities, business executives, and IT professionals to undertake statistics-based accurate decisions on technology purchases and advance strong growth tactics to sustain market competitiveness. Comprising of a team size of more than 100 analysts and cumulative market experience of more than 200 years, Contrive Datum Insights guarantees the delivery of industry knowledge combined with global and country-level expertise.

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