CHICAGO, October 26, 2018
CHICAGO, October 26, 2018 /PRNewswire/ --
According to the new market research report "Collaborative Robot Market by Payload Capacity (Up to 5 Kg, Between 5 and 10 Kg, Above 10 Kg), Industry (Automotive, Electronics, Metals & Machining, Plastics & Polymers, Food & Beverages, Healthcare), Application, and Geography - Global Forecast to 2025", published by MarketsandMarkets™, the Collaborative Robot Market is expected to grow from USD 710 million in 2018 to USD 12,303 million by 2025, at a CAGR of 50.31% during the forecast period. The multifold growth is attributed to the high RoI and low price of collaborative robots, which result in the growing adoption of co-bots by small- and medium-sized enterprises (SMEs), rising investments in automation by industries to support the evolution of Industry 4.0, improving human-machine interface (HMI), and increasing capability of AI to imitate human behavior.
(Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg )
Don't miss out on business opportunities in Collaborative Robot Market.
Speak to Our Analyst and gain crucial industry insights that will help your business grow: https://www.marketsandmarkets.com/speaktoanalyst.asp?id=194541294
Market for collaborative robots with a payload capacity between 5 and 10 kg expected to grow at highest CAGR during forecast period
The market for collaborative robots having a payload capacity between 5 and 10 kg is expected to grow at the highest CAGR from 2018 to 2025. This growth is mainly attributed to the expected demand for collaborative robots with medium payload capacity in industries such as automotive, furniture and equipment, and metals and machining. Collaborative robots having a payload capacity between 5 and 10 kg are the safest co-bots for a majority of factory automation tasks. These robots can perform all the collaborative operations that can be performed by robots having a payload capacity up to 5 kg robots. A few major companies that provide these robots are Universal Robots A/S (Denmark) - UR10 (10 kg), KUKA AG (Germany) - LBR iiwa 7 R800 (7 kg), MABI AG (Switzerland) - Speedy6 (6 kg), FANUC Corporation (Japan) - CR 7iA (7 kg), Quanta Storage Inc. (Taiwan) - TM5-700 (6 kg), and Yaskawa Motoman (US) - HC10 (10 kg). A significant surge in demand for co-bots having a payload capacity between 5 and 10kg is observed during the past few years; as well as many new companies have emerged offering robots having this payload capacity range. The strong demand for co-bots for assembly and material handling applications is expected to drive this market growth further.
Pick and place application accounted for largest market share in 2017
The pick and place application accounted for the largest share of the global collaborative robot market in 2017. Majority of the low-payload capacity co-bots, i.e., co-bots having a payload capacity of less than 5 kg are used for pick and place tasks. However, the market for the assembly application is expected to grow at the highest rate during the forecast period. Assembly operations have a huge scope in the manufacturing industry for collaborative robots as these robots allow the new user to grasp the basics of working easily. Collaborative robots are known for the reduced time of assembly, accuracy, speed, reach, and any material handling capacity. Benefits offered by collaborative robots include greater precision than that of special-purpose instruments. They can be easily deployed and sometimes need only reprogramming to resume working on another assembly line. Growing demand from automotive, food & beverages, and furniture and equipment industries is fueling the demand for co-bots for assembly applications.
Browse in-depth TOC on "Collaborative Robot Market"
66 - Tables
39 - Figures
169 - Pages
APAC to grow at highest rate in collaborative robot market
Europe accounted for the largest market share in 2017, closely followed by APAC and North America. The growth of the market in Europe was driven by strong government support to promote factory automation solutions, thereby supporting the evolution of Industry 4.0. However, the market in APAC is expected to surpass Europe by 2025. This growth can be attributed to the increasing demand for collaborative robots in China, Japan, and South Korea, especially by industries such as electronics, automotive, and metals and machining.
Major players in the global collaborative robot market include Universal Robots A/S (Denmark), Rethink Robotics (US), ABB (Switzerland), KUKA AG (Germany), FANUC Corporation (Japan), Robert Bosch GmbH (Germany), MRK-Systeme GmbH (Germany), Precise Automation, Inc. (US), Energid Technologies Corporation (US), F&P Robotics AG (Switzerland), MABI AG (Switzerland), Techman Robot by Quanta Storage, Inc. (Taiwan), Franka Emika GmbH (Germany), AUBO Robotics Inc. (US), YASKAWA Electric Corporation (Japan), Comau S.p.A. (Italy), and KAWADA Robotics Corp. (Japan).
Please explore relevant report "Artificial Intelligence (AI) Robots Market" also.
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Shelly Singh
630 Dundee Road
Northbrook, IL 60062
Visit Our Web Site: https://www.marketsandmarkets.com