The automotive industry is adopting automation at a very fast rate. Implementation of collaborative robots for tedious as well as dangerous jobs to obtain high quality work is being done by OEMs. Boosting the pace of production and reduction in labor costs, along with the minimum floor space requirement, are the significant factors leading automotive manufacturers towards the adoption of the collaborative robot technology. The automotive industry, as one of the influential industries, is expected to set the path for the collaborative robots market in the near future.
Affordable price, many applications of collaborative robots driving market growth
- The global collaborative robots market has been segmented based on the different types of payload capacities, their multiple applications, end use industry and regions such as North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East and Africa.
- Collaborative robots with payload capacity up to 5kg are projected to have the dominant share of growth in the upcoming years.
- On the basis of application, material handling is expected to hold a majority share of the global collaborative robots market which is implemented in a number of end-use industry.
- Electronics and Semiconductors industry is projected to have significant share in the global collaborative robots market.
Lightweight collaborative robots with payload capacity up to 5kg are being widely used for a range of applications.
The segmental growth is followed by 5-10kg payload capacity collaborative robots.
General assembly is another segment which is projected to have a fair share in the market growth.
Demand for high speed and precision work fulfilled by collaborative robots is benefitting the industry on a large scale.
Collaborative robots market: Vendor insights
The report highlights some of the prominent market players, who have established themselves as leaders in the global collaborative robots market. Few examples of key players in the market are Universal Robots A/S, AUBO Robotics, Denso Wave Incorporated, Fanuc Corporation, Stäubli International AG, Robert Bosch GmbH, KUKA AG, Precise Automation, Inc., ABB Group, Yaskawa Electric Corporation and K2 Kinetics among others. The global collaborative robots market is significantly dominated by some players holding prominent shares of the market. These players are indulging into strategic alliances, collaborations, mergers and acquisitions.
For instance, ABB Group announced a collaboration with Kawasaki Heavy Industries Ltd. to share knowledge and are working on joint technical and awareness opportunities.
