Collaborative
Robots Market Outlook
Collaborative Robots market size was valued at USD 1.90 billion in 2023 and is estimated to reach a value of USD 35.36 billion by 2035 with a CAGR of 5.8% during the forecast period 2024-2035.
Collaborative
robots market forecast is influenced by several key factors. These include
advancements in artificial intelligence and machine learning, which enhance
cobots' capabilities and expand their application areas. Additionally, the
increasing need for automation to address labor shortages and improve
productivity drives market growth. Technological innovations in safety features
and human-robot collaboration further propel market expansion, as does the
rising adoption of Industry 4.0 principles in manufacturing. Moreover, the
growing demand from industries such as automotive, electronics, and logistics
contributes to the robust forecast for the collaborative robots market.
The collaborative robots market presents a significant opportunity driven by several factors. With increasing demand for flexible automation solutions, cobots offer versatile capabilities to work alongside humans in various industries. The rising need for efficiency, productivity, and safety in manufacturing processes fuels the adoption of collaborative robots. Moreover, advancements in cobot technology, such as improved sensors and artificial intelligence, expand their application areas, creating new opportunities. As industries strive for agility and adaptability in the face of changing market dynamics, collaborative robots emerge as a key enabler, poised to capitalize on the growing demand for automation and human-robot collaboration.
Key
Insights
Based on
industries, Collaborative Robots market share is dominated by automotive sector
with a key stake of 26.11% in 2023. In the automotive sector, key trends in the
collaborative robot’s market include the integration of cobots in assembly
lines for tasks like precision assembly and quality inspection. Cobots are also
increasingly used in material handling and machine tending applications to
enhance efficiency and flexibility. Furthermore, advancements in cobot
technology, such as enhanced safety features and improved programming
capabilities, cater to the specific requirements of automotive manufacturers,
driving the adoption of collaborative robots in the industry.
Based on region,
Collaborative Robots market is dominated by North America region with a major
share of 47.77% in 2023. In North America, key trends in the collaborative
robots market include the expansion of cobots into small and medium-sized
enterprises (SMEs) to improve production flexibility and scalability.
Additionally, there's a growing emphasis on safety features and easy
integration of cobots with existing systems. Moreover, increasing adoption of
Industry 4.0 principles drives the demand for collaborative robots across
various industries.
Collaborative Robots Market Data and Dashboard
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Market Dynamics
The adoption of
Industry 4.0 principles, such as smart manufacturing and digitalization, drives
the demand for cobots as integral components of automated and interconnected
production systems.
The adoption of Industry 4.0 principles, including smart manufacturing and digitalization, stands as a pivotal driver in the collaborative robots (cobots) market. As industries embrace the transformative potential of Industry 4.0, the demand for cobots surges, primarily due to their role as integral components of automated and interconnected production systems.
Industry 4.0
emphasizes the convergence of digital technologies, automation, and data
exchange to create "smart factories" that are more agile, efficient,
and responsive to customer needs. Cobots play a crucial role in this paradigm
shift by facilitating seamless integration within automated production lines
and enabling human-robot collaboration.
Cobots are
equipped with advanced sensors, artificial intelligence, and connectivity
features, allowing them to interact with other machines, share data in
real-time, and adapt to dynamic production environments. They enhance
operational flexibility, enable rapid changeovers, and optimize production
processes, aligning perfectly with the principles of smart manufacturing and
digitalization.
Furthermore,
cobots contribute to the optimization of resource utilization, reduction of
waste, and improvement of overall productivity and quality within Industry
4.0-driven manufacturing environments. As industries strive to enhance
competitiveness, innovate, and stay ahead in the digital era, the demand for
cobots as essential enablers of Industry 4.0 transformations continues to grow
exponentially.
Continuous
innovation in robotics, including advancements in sensors, artificial
intelligence, and machine learning, enhances cobots' capabilities and expands
their application areas.
Continuous
innovation in robotics, marked by advancements in sensors, artificial
intelligence (AI), and machine learning, is a key driver in the collaborative
robots (cobots) market. These technological breakthroughs significantly enhance
cobots' capabilities, enabling them to perform increasingly complex tasks with
precision and efficiency. By integrating advanced sensors, AI algorithms, and
machine learning techniques, cobots can adapt to changing environments,
collaborate more effectively with humans, and undertake a broader range of
applications across various industries. This continual evolution propels the
demand for cobots, as companies seek cutting-edge automation solutions to
improve productivity, quality, and flexibility in their operations.
Factors |
Value |
Category |
Semiconductors and Equipment |
Pages |
370 |
Table Count |
260 |
Chart Count |
190 |
Companies Count |
30 |
Countries Count |
50 |
Report Type |
Published |
Report Region |
Global |
Largest Market |
North America |
Fastest Growing Market |
APAC |
Base Year |
2023 |
Market Size in Base Year |
1.9 billion |
CAGR (2024-2035) |
27.80% |
Forecast Year |
2024-2035 |
Historical Year |
2019-2022 |
Market Size in 2035 |
35.36 Billion |
Countries Covered |
U.S., Canada, Mexico, Germany, UK, France, Italy, Spain, Turkey, Israel, China, Japan, India, South Korea, Australia, SEA, Brazil, Chile, Argentina, Saudi Arabia, UAE, Qatar, South Africa, Rest of World |
Region Covered |
North America, Europe, APAC, South America, Middle East and
Africa |
Key Drivers |
The adoption of Industry 4.0 principles, such as smart manufacturing and digitalization.
Continuous innovation in robotics, including advancements in sensors, artificial intelligence, and machine
learning |
Segments Covered |
payload capacity, application, end user and end user |
Market Analysis by Industries
Based on
industries, Collaborative Robots market is segmented into Automotive,
Electronics, Food and Beverage, Pharmaceuticals, Aerospace, Logistics,
Healthcare.
Automotive sector dominated the industry with a value of USD 496 million in 2023 and is estimated to grow at a CAGR of 25.1% during the forecast period.
In the automotive sector, several key trends are reshaping the landscape of collaborative robots (cobots) implementation. Firstly, there's a notable shift towards flexible assembly lines, where cobots are increasingly employed to accommodate the industry's growing demand for customization and rapid product changes. This flexibility allows automotive manufacturers to adapt quickly to market demands while maintaining high production efficiency.
Secondly, cobots are playing an increasingly
crucial role in quality inspection tasks within automotive manufacturing
plants. Equipped with advanced sensors and vision systems, cobots ensure
meticulous quality control, detecting defects and deviations with unprecedented
precision.
Thirdly, there's a rising emphasis on
human-robot collaboration, with cobots working alongside human workers to
enhance productivity and safety in automotive production facilities. This
collaborative approach optimizes workflow efficiency while maximizing the
utilization of available space. Additionally, cobots are revolutionizing
material handling processes in the automotive sector, performing tasks such as
parts transfer, palletizing, and logistics with unparalleled efficiency.
Moreover, the
integration of cobots with Industry 4.0 technologies, such as IoT and AI, is
driving predictive maintenance, data-driven decision-making, and real-time
monitoring in automotive manufacturing, paving the way for smarter, more agile
production processes. Overall, these trends underscore the automotive
industry's increasing reliance on collaborative robots to streamline
operations, improve quality, and meet the evolving demands of the market.
Segments |
Values |
By Payload
Capacity |
·
Light-duty (up to 5 kg) ·
Medium-duty (5-10 kg) ·
Heavy-duty (over 10 kg) |
By Application |
·
Pick and Place ·
Assembly ·
Packaging ·
Machine Tending ·
Quality Inspection ·
Welding ·
Painting |
By End User |
·
Small and Medium-sized
Enterprises (SMEs) ·
Large Enterprises ·
Manufacturers |
Market Analysis by Region
Collaborative
Robots market analysis includes the statistics of major geographies such as
North America, Europe, Asia Pacific, South America and MEA.
In terms of Collaborative Robots market statistics, North America acquired a market value of USD 908 million in 2023 and is estimated to reach a value of USD 17.14 billion by 2035 with a CAGR of 24.9% during the forecast period.
In North
America, several key trends are shaping the collaborative robots (cobots)
market. Firstly, there's a growing adoption of cobots among small and
medium-sized enterprises (SMEs) across various industries. As these companies
seek to improve efficiency and remain competitive, they increasingly turn to
cobots for flexible and cost-effective automation solutions.
Secondly,
there's an increasing emphasis on safety features and standards in cobot design
and deployment. With regulations becoming more stringent, manufacturers are
integrating advanced safety technologies into cobots to ensure safe human-robot
collaboration in the workplace. Thirdly, there's a rising demand for cobots
with enhanced sensing and vision capabilities.
These advanced
cobots can perform intricate tasks with greater accuracy and precision, making
them suitable for applications such as quality inspection and assembly.
Additionally, there's a trend towards the integration of cobots with other
automation technologies and systems, such as conveyor belts and CNC machines,
to create seamless and interconnected production environments.
Moreover, there's a growing interest in collaborative robots with mobile capabilities, allowing them to navigate dynamic workspaces and perform tasks in multiple locations. Overall, these trends reflect the increasing acceptance and utilization of collaborative robots in North America, driven by the need for flexibility, safety, and efficiency in manufacturing and other industries.
In the Asia
Pacific region, several key trends are shaping the collaborative robots
(cobots) market. Firstly, there's a significant emphasis on the adoption of
cobots in the manufacturing sector, particularly in countries like China,
Japan, and South Korea. As these countries lead the way in industrial
automation, there's a growing demand for cobots to enhance production
efficiency and address labor shortages.
Secondly,
there's a trend towards the integration of cobots with artificial intelligence
(AI) and machine learning (ML) technologies. These advanced cobots can learn
from their interactions and adapt to changing environments, making them more
versatile and capable of handling complex tasks.
Thirdly, there's
a rising interest in cobots with collaborative capabilities for human-robot
interaction. With increasing focus on workplace safety and ergonomics, cobots
that can work alongside human workers safely and efficiently are in high
demand.
Moreover,
there's a growing adoption of cobots in emerging industries such as logistics,
healthcare, and agriculture, where they offer innovative solutions to improve
productivity and efficiency.
Overall, these
trends highlight the evolving landscape of the collaborative robots market in
the Asia Pacific region, driven by technological advancements, changing labor
dynamics, and the pursuit of greater efficiency and safety in various
industries.
Competitive Landscape
Key companies operating within the Collaborative
Robots market are: ABB Group, DENSO Robotics, Epson
Robots, Energid Technologies Corporation, F&P Robotics AG, Fanuc
Corporation, KUKA AG, MRK-Systeme GmbH, Precise Automation, Inc, Rethink
Robotics, Inc, Robert Bosch GmbH, Universal Robots A/S, Yaskawa Electric
Corporation, MABI Robotic AG, Techman Robot Inc., Franks Emika Gmbh, AUBO Robotics,
Comau S.p.A.
Recent Development:
In November
2023, TECHMAN ROBOT INC. (based in Taiwan) unveiled the TM AI Cobot TM25S
during iREX 2023. The cobot boasts a payload capacity of 25kg and incorporates
advanced features tailored for precision tasks. Its integration with NVIDIA's
Isaac Sim platform has optimized production line inspections, resulting in a
notable 70% reduction in programming times and a 20% decrease in cycle times.
In June 2023, Universal Robots A/S (headquartered in Denmark) partnered with SICK AG (based in Germany) to develop an innovative safety solution aimed at addressing the need for enhanced safety measures in specific human-robot collaborative applications. The collaborative effort led to the creation of the SICK safety extension, meticulously designed in collaboration with Universal Robots, which establishes a protective volume around the robot tool and handled objects, simplifying deployment. The system, showcased at Automatica in Munich, Germany, demonstrated seamless integration into the UR robot system through a PolyScope update, making cobot safety solutions more accessible for customers. Scheduled for release after the UR PolyScope update in early Q2 2024, this solution aims to facilitate spatial cooperation while meeting stringent safety requirements.
1.
Global
Collaborative Robots Market Introduction and Market Overview
1.1. Objectives of the Study
1.2. Global Collaborative Robots
Market Scope and Market Estimation
1.2.1. Global Collaborative Robots Overall
Market Size, Revenue (US$ Mn) & Sales (Units), Market CAGR (%), Market
forecast (2024 - 2035)
1.2.2. Global Collaborative Robots
Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2019 - 2035
1.3. Market Segmentation
1.3.1. By Payload Capacity
1.3.2. By Application
1.3.3. By End User
1.3.4. By Industry
2.
Executive Summary
2.1. Market Dynamics
2.1.1. Drivers
2.1.2. Limitations
2.1.3. Opportunities
2.1.4. Impact Analysis of Drivers and
Restraints
2.2. Pricing Trends Analysis &
Average Selling Prices (ASPs)
2.3. Key Mergers & Acquisitions,
Expansions, JVs, Funding / VCs, etc.
2.4. Porter’s Five Forces Analysis
2.4.1. Bargaining Power of Suppliers
2.4.2. Bargaining Power of Buyers
2.4.3. Threat of Substitutes
2.4.4. Threat of New Entrants
2.4.5. Competitive Rivalry
2.5. Value Chain / Ecosystem Analysis
2.6. Patent Analysis
2.7. Case Study Analysis
2.8. Economic Downturn Analysis
2.9. Production Analysis and Capacity
2.10. Market Investment Opportunity
Analysis (Top Investment Pockets), By Segments & By Region
3.
Global Collaborative Robots
Market Estimates & Historical Trend
Analysis (2019 - 2022)
4.
Global Collaborative Robots
Market Estimates & Forecast Trend
Analysis, by Payload Capacity
4.1. Global Collaborative Robots
Market Revenue (US$ Mn) & Sales (Units) Estimates and Forecasts, by Payload
Capacity, 2019 to 2035
4.1.1. Light-duty (up to 5 kg)
4.1.2. Medium-duty (5-10 kg)
4.1.3. Heavy-duty (over 10 kg)
5.
Global Collaborative Robots
Market Estimates & Forecast Trend
Analysis, by Application
5.1. Global Collaborative Robots
Market Revenue (US$ Mn) & Sales (Units) Estimates and Forecasts, by Application,
2019 to 2035
5.1.1. Pick and Place
5.1.2. Assembly
5.1.3. Packaging
5.1.4. Machine Tending
5.1.5. Quality Inspection
5.1.6. Welding
5.1.7. Painting
6.
Global Collaborative Robots
Market Estimates & Forecast Trend
Analysis, by Industry
6.1. Global Collaborative Robots
Market Revenue (US$ Mn) & Sales (Units) Estimates and Forecasts, by Industry,
2019 to 2035
6.1.1. Automotive
6.1.2. Electronics
6.1.3. Food and Beverage
6.1.4. Pharmaceuticals
6.1.5. Aerospace
6.1.6. Logistics
6.1.7. Healthcare
7.
Global Collaborative Robots
Market Estimates & Forecast Trend
Analysis, by End User
7.1. Global Collaborative Robots
Market Revenue (US$ Mn) & Sales (Units) Estimates and Forecasts, by End
User, 2019 to 2035
7.1.1. Small and Medium-sized
Enterprises (SMEs)
7.1.2. Large Enterprises
7.1.3. Manufacturers
8.
Global Collaborative Robots
Market Estimates & Forecast Trend
Analysis, by Region
8.1.
Global
Collaborative Robots Market Revenue (US$ Mn) & Sales (Units) Estimates and
Forecasts, by Region, 2019 to 2035
8.1.1. North America
8.1.2. Europe
8.1.3. Asia Pacific
8.1.4. Middle East & Africa
8.1.5. South America
9.
North
America Collaborative Robots Market: Estimates & Forecast Trend Analysis
9.1.
North
America Collaborative Robots Market Assessments & Key Findings
9.1.1. North America Collaborative
Robots Market Introduction
9.1.2. North America Collaborative
Robots Market Size Estimates and Forecast (US$ Million) (2019 - 2035)
9.1.2.1. By Payload Capacity
9.1.2.2. By Application
9.1.2.3. By End User
9.1.2.4. By Industry
9.1.2.5. By Country
9.1.2.5.1. The U.S.
9.1.2.5.1.1.
By Payload Capacity
9.1.2.5.1.2.
By Application
9.1.2.5.1.3.
By End User
9.1.2.5.1.4.
By Industry
9.1.2.5.2. Canada
9.1.2.5.2.1.
By Payload Capacity
9.1.2.5.2.2.
By Application
9.1.2.5.2.3.
By End User
9.1.2.5.2.4.
By Industry
9.1.2.5.3. Mexico
9.1.2.5.3.1.
By Payload Capacity
9.1.2.5.3.2.
By Application
9.1.2.5.3.3.
By End User
9.1.2.5.3.4.
By Industry
10. Europe Collaborative
Robots Market: Estimates & Forecast
Trend Analysis
10.1. Europe Collaborative Robots
Market Assessments & Key Findings
10.1.1. Europe Collaborative Robots
Market Introduction
10.1.2. Europe Collaborative Robots
Market Size Estimates and Forecast (US$ Million) (2019 - 2035)
10.1.2.1. By Payload Capacity
10.1.2.2. By Application
10.1.2.3. By End User
10.1.2.4. By Industry
10.1.2.5. By Country
10.1.2.5.1. Germany
10.1.2.5.1.1.By
Payload Capacity
10.1.2.5.1.2.By
Application
10.1.2.5.1.3.By
End User
10.1.2.5.1.4.By
Industry
10.1.2.5.2. U.K.
10.1.2.5.2.1.By
Payload Capacity
10.1.2.5.2.2.By
Application
10.1.2.5.2.3.By
End User
10.1.2.5.2.4.By
Industry
10.1.2.5.3. France
10.1.2.5.3.1.
By Payload Capacity
10.1.2.5.3.2.
By Application
10.1.2.5.3.3.
By End User
10.1.2.5.3.4.
By Industry
10.1.2.5.4. Italy
10.1.2.5.4.1.
By Payload Capacity
10.1.2.5.4.2.
By Application
10.1.2.5.4.3.
By End User
10.1.2.5.4.4.
By Industry
10.1.2.5.5. Spain
10.1.2.5.5.1.
By Payload Capacity
10.1.2.5.5.2.
By Application
10.1.2.5.5.3.
By End User
10.1.2.5.5.4.
By Industry
10.1.2.5.6. Russia
10.1.2.5.6.1.
By Payload Capacity
10.1.2.5.6.2.
By Application
10.1.2.5.6.3.
By End User
10.1.2.5.6.4.
By Industry
10.1.2.5.7. Rest of Europe
10.1.2.5.7.1.
By Payload Capacity
10.1.2.5.7.2.
By Application
10.1.2.5.7.3.
By End User
10.1.2.5.7.4.
By Industry
11. Asia Pacific Collaborative
Robots Market: Estimates & Forecast
Trend Analysis
11.1. Asia Pacific Market Assessments
& Key Findings
11.1.1. Asia Pacific Collaborative
Robots Market Introduction
11.1.2. Asia Pacific Collaborative
Robots Market Size Estimates and Forecast (US$ Million) (2019 - 2035)
11.1.2.1. By Payload Capacity
11.1.2.2. By Application
11.1.2.3. By End User
11.1.2.4. By Industry
11.1.2.5. By Country
11.1.2.5.1. China
11.1.2.5.1.1.
By Payload Capacity
11.1.2.5.1.2.
By Application
11.1.2.5.1.3.
By End User
11.1.2.5.1.4.
By Industry
11.1.2.5.2. Japan
11.1.2.5.2.1.
By Payload Capacity
11.1.2.5.2.2.
By Application
11.1.2.5.2.3.
By End User
11.1.2.5.2.4.
By Industry
11.1.2.5.3. India
11.1.2.5.3.1.
By Payload Capacity
11.1.2.5.3.2.
By Application
11.1.2.5.3.3.
By End User
11.1.2.5.3.4.
By Industry
11.1.2.5.4. Australia
11.1.2.5.4.1.
By Payload Capacity
11.1.2.5.4.2.
By Application
11.1.2.5.4.3.
By End User
11.1.2.5.4.4.
By Industry
11.1.2.5.5. South Korea
11.1.2.5.5.1.
By Payload Capacity
11.1.2.5.5.2.
By Application
11.1.2.5.5.3.
By End User
11.1.2.5.5.4.
By Industry
11.1.2.5.5.5.
11.1.2.5.6. ASEAN
11.1.2.5.6.1.
By Payload Capacity
11.1.2.5.6.2.
By Application
11.1.2.5.6.3.
By End User
11.1.2.5.6.4.
By Industry
11.1.2.5.7. Rest of Asia Pacific
11.1.2.5.7.1.
By Payload Capacity
11.1.2.5.7.2.
By Application
11.1.2.5.7.3.
By End User
11.1.2.5.7.4.
By Industry
12. Middle East & Africa Collaborative
Robots Market: Estimates & Forecast
Trend Analysis
12.1. Middle East & Africa Market
Assessments & Key Findings
12.1.1. Middle
East & Africa Collaborative
Robots Market Introduction
12.1.2. Middle
East & Africa Collaborative
Robots Market Size Estimates and Forecast (US$ Million) (2019 - 2035)
12.1.2.1. By Payload Capacity
12.1.2.2. By Application
12.1.2.3. By End User
12.1.2.4. By Industry
12.1.2.5. By Country
12.1.2.5.1. U.A.E.
12.1.2.5.1.1.
By Payload Capacity
12.1.2.5.1.2.
By Application
12.1.2.5.1.3.
By End User
12.1.2.5.1.4.
By Industry
12.1.2.5.2. Saudi Arabia
12.1.2.5.2.1.
By Payload Capacity
12.1.2.5.2.2.
By Application
12.1.2.5.2.3.
By End User
12.1.2.5.2.4.
By Industry
12.1.2.5.3. Egypt
12.1.2.5.3.1.
By Payload Capacity
12.1.2.5.3.2.
By Application
12.1.2.5.3.3.
By End User
12.1.2.5.3.4.
By Industry
12.1.2.5.4. South Africa
12.1.2.5.4.1.
By Payload Capacity
12.1.2.5.4.2.
By Application
12.1.2.5.4.3.
By End User
12.1.2.5.4.4.
By Industry
12.1.2.5.5. Rest of Middle East & Africa
12.1.2.5.5.1.
By Payload Capacity
12.1.2.5.5.2.
By Application
12.1.2.5.5.3.
By End User
12.1.2.5.5.4.
By Industry
13. South America
Collaborative Robots Market: Estimates
& Forecast Trend Analysis
13.1. South America Market Assessments
& Key Findings
13.1.1. South America Collaborative
Robots Market Introduction
13.1.2. South America Collaborative
Robots Market Size Estimates and Forecast (US$ Million) (2019 - 2035)
13.1.2.1. By Payload Capacity
13.1.2.2. By Application
13.1.2.3. By End User
13.1.2.4. By Industry
13.1.2.5. By Country
13.1.2.5.1. Brazil
13.1.2.5.1.1.
By Payload Capacity
13.1.2.5.1.2.
By Application
13.1.2.5.1.3.
By End User
13.1.2.5.1.4.
By Industry
13.1.2.5.2. Argentina
13.1.2.5.2.1.
By Payload Capacity
13.1.2.5.2.2.
By Application
13.1.2.5.2.3.
By End User
13.1.2.5.2.4.
By Industry
13.1.2.5.3. Colombia
13.1.2.5.3.1.
By Payload Capacity
13.1.2.5.3.2.
By Application
13.1.2.5.3.3.
By End User
13.1.2.5.3.4.
By Industry
13.1.2.5.4. Rest of South America
13.1.2.5.4.1.
By Payload Capacity
13.1.2.5.4.2.
By Application
13.1.2.5.4.3.
By End User
13.1.2.5.4.4.
By Industry
14. Competition Landscape
14.1. Global Collaborative Robots
Market Competition Matrix & Benchmarking, by Leading Players / Innovators /
Emerging Players / New Entrants
14.2. Global Collaborative Robots
Market Competition White Space Analysis, By Application
14.3. Global Collaborative Robots
Market Competition Heat Map Analysis, By End User
14.4. Global Collaborative Robots
Market Concentration & Company Market Shares (%) Analysis, 2023
15. Company Profiles
15.1. ABB Ltd.
15.1.1. Company Overview & Key Stats
15.1.2. Financial Performance & KPIs
15.1.3. Sales Channel Portfolio
15.1.4. Business Strategy & Recent
Developments
15.1.5. Technology and Pricing
15.1.6. Key Suppliers
* Similar details would be provided
for all the players mentioned below
15.2. DENSO Robotics
15.3. Epson Robots
15.4. Energid
Technologies Corporation
15.5. F&P
Robotics AG
15.6. Fanuc
Corporation
15.7. KUKA AG
15.8. MRK-Systeme
GmbH
15.9. Precise
Automation, Inc
15.10. Rethink
Robotics, Inc
15.11. Robert Bosch
GmbH
15.12. Universal
Robots A/S
15.13. Yaskawa
Electric Corporation
15.14. MABI Robotic
AG
15.15. Techman Robot
Inc.
15.16. Franks Emika
Gmbh
15.17. AUBO Robotics
15.18. Comau S.p.A.
15.19. Others
16. Research
Methodology
16.1. External Transportations /
Databases
16.2. Internal Proprietary Database
16.3. Primary Research
16.4. Secondary Research
16.5. Assumptions
16.6. Limitations
16.7. Report FAQs
17. Research Findings & Conclusion
We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.
Market Research Process
We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
Collaborative Robots market size was valued at USD 1.90 billion in 2023 and is estimated to reach a value of USD 35.36 billion by 2035 with a CAGR of 5.8% during the forecast period 2024-2035.
North America acquired a market value of USD 908 million in 2023 and is estimated to reach a value of USD 17.14 billion by 2035 with a CAGR of 24.9% during the forecast period.
Key companies operating within the Collaborative Robots market are: ABB Group, DENSO Robotics, Epson Robots, Energid Technologies Corporation, F&P Robotics AG, Fanuc Corporation, KUKA AG, MRK-Systeme GmbH, Precise Automation, Inc, Rethink Robotics, Inc, Robert Bosch GmbH, Universal Robots A/S, Yaskawa Electric Corporation, MABI Robotic AG, Techman Robot Inc., Franks Emika Gmbh, AUBO Robotics, Comau S.p.A.
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