Collaborative Robot Market by Payload (Up to 5 Kg, 5-10 kg, 10-20 kg, more than 20 kg), Component, Robotic Arm, End Effectors, Drives, Controllers, Sensors, Power Supply, Motors, Software), Application, Industry and Region - Global Forecast to 2029
The collaborative robot market was valued at USD 1.2 billion in 2023 and is estimated to reach USD 6.8 billion by 2029, registering a CAGR of 34.3% during the forecast period.
The growth of the collaborative robot market is governed by increased demand in e-commerce and logistics industries and by high return on investment compared to traditional industrial robotic systems.
Collaborative Robot Market Forecast to 2029
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Market Dynamics:
Drivers: Increased demand in the e-commerce and logistics industries
The e-commerce and logistics industries are witnessing increased adoption of industrial automation. Given the current growth rates in e-commerce, demand for warehouse labor is expected to increase manifold in the coming decade. Warehousing operations around the globe are swiftly changing because of E-commerce. Factors such as disrupted supply chains, overcrowded ports, and The Great Resignation have pushed warehouses and fulfillment centers to focus on solutions to their need for more seamless order fulfillment and logistics processes. To adjust to the increased demand, businesses are turning to automated systems. One of the ways that logistics and supply chain companies are improving their warehouse operations is by utilizing collaborative robots. In traditional warehousing operations, human workers perform repetitive and menial tasks such as picking and packing. In large warehouses, this not only impacts workforce efficiency and productivity but also the health and safety of workers. Performing repetitive tasks for long periods of time can lead to overexertion and injury. These injuries can lead to missed work days for employees and businesses paying out workers' compensation benefits.
Restraint: Higher preference for low payload capacity traditional industrial robots over cobots in heavy-duty industries
Traditional industrial robots are better equipped to handle heavier and larger materials and objects like those used in heavy-duty industries such as automotive, metals, and machinery manufacturing, owing to their greater payload capacities than cobots. Heavy-duty industries prefer to employ traditional industrial robots for automating their manufacturing operations. To operate safely in the work environment, cobots are designed to be less powerful compared to traditional industrial robots, making them less appropriate for heavy-duty applications. On the other hand, traditional industrial robots are heavy-duty robots with high payloads that can tackle dangerous, repetitive, and heavy applications. These robots are commonly used for conventional work like assembly, pick-and-place, and palletizing in many industries. The lower power of collaborative robots limits the applications in heavy-duty manufacturing industries.
Opportunity: Growing demand for automation in the healthcare industry
There is an increasing adoption of robots for automation in the medical sector. The incorporation of robotics in healthcare environments is becoming increasingly common. The ability of collaborative robots to work with healthcare professionals safely and efficiently has opened up new possibilities for enhancing patient care, improving operational efficiency, and addressing workforce challenges. Collaborative robots can be used as telepresence devices to enable remote consultations and care. They can be equipped with cameras, screens, and speakers, allowing healthcare professionals to interact with patients in real-time, regardless of geographical distances. This technology is particularly useful in providing care to patients in remote areas or those with limited mobility. Cobots can assist surgeons in various ways during surgical procedures. They can hold and position instruments, provide a stable platform for precise surgical maneuvers, and perform repetitive tasks with high accuracy. Additionally, cobots can be equipped with imaging technologies, such as ultrasound or endoscopic cameras, to assist in visualization during minimally invasive surgeries.
Challenge: Payload and speed limitations of collaborative robots owing to their inherent design
Most collaborative robots are generally limited to a maximum payload of 15 kg or less. An increase in payload often results in a decrease in the repeatability of the robot and an increase in weight due to the added sensors; hence, most collaborative robots are used for low-payload applications. Collaborative robots are also designed to move at the speed of a human arm, which enables them to be deployed safely alongside a human. Designers of cobots have had to factor in performance restrictions in the robot’s mechanical design, particularly in the motorized robot joints. Although an inherent quality, such speed restrictions decrease robot throughput and increase cycle time. For instance, the low speed of collaborative robots limits some applications in food and beverage applications, where the robot may not be able to keep up with the speed of the process line. Hence, collaborative robots will not be able to replace traditional industrial robots, and as such in many industrial applications requiring high speed and increased payload.
Collaborative Robot Ecosystem
Hardware segment to hold larger market share of the collaborative robot market during the forecast period.
The hardware component contributed a larger share for the collaborative robot (cobot) market in 2022 and is expected to dominate the market during the forecast period. The hardware system consists of robotic arms, end effectors, controllers, drives, sensors, motors, and power supply, and accounts for a major part of the cost of a collaborative robot. There is a surge in the market for robot accessories, such as end effectors and controllers, in recent years. End effectors are expected to achieve a higher level of technological sophistication in the future as machine learning software and safety features are increasingly being combined within the End of Arm Tooling (EOAT) itself. Following Industrial 4.0, which facilitates flawless communication and superior data optimization and collection, sustainability continues to spread wide in the robotic End of Arm Tooling (EOAT) industry, thereby driving developments in the collaborative robot (cobot) market. Apart from the end effectors, there also has been a rise in the demand for the adoption of vision systems into collaborative robots to facilitate remote monitoring of industrial operations located in remote and hard-to-reach locations. Thus, the individual demand for each of the hardware segments, such as the robotic arm, controllers, and end effectors, contributes to the overall demand for the hardware for collaborative robots (cobots).
Assembling & Disaasembling application to account for the significant share of the collaborative robot market for during the forecast period
The assembling & disassembling application segment held the second-largest share of the collaborative robot market in 2022 and is estimated to grow at the highest CAGR during the forecast period. The assembling and disassembling application includes sub-types such as screwdriving and nut fastening. Due to the fact that collaborative robots provide a greater degree of repeatability (upto as low as 0.1 mm) than traditional handheld screwdriving systems; they provide the right torque and depth, can work alongside workers and can be easily integrated with the vision system, makes them ideal for HRC assembling and disassembling applications. The electronics industry is driving demand for robotic screwdriving, mainly due to the low weight of electronic items such as smartphones and hard drives. Regarding nut-fastening applications, collaborative robots are widely adopted for this application in automotive industries for fastening the nuts of medium and large-sized workpieces such as fluid-carrying components and transmission components during vehicle assembly. As a result, the electronics and automotive industries majorly deploy collaborative robots for undertaking the assembling and disassembling applications.
Logistics industry segment to exhibit significant growth in terms of collaborative robot market during the forecast period
The collaborative robot market for logistics end-user segment is expected to grow significantly during the forecast period.Collaborative robots have gained significant traction in the field of logistics. Collaborative robots used in logistics are most commonly used to pick and place objects. They’re often deployed in large warehouses or fulfillment centers where accurate, consistent, and quick movement of goods proves challenging. Collaborative logistics robots used in warehousing and fulfillment processes can significantly increase productivity, reduce wasted motions, generate labor savings, and improve the overall safety of a facility. Cobots are employed in order picking and fulfillment processes. The collaborative robots can navigate through warehouse aisles, locate the required items, and deliver them to human operators for verification and packing. This collaborative approach increases picking accuracy, minimizes errors, and accelerates order processing times. Cobots can assist in inventory management by conducting regular stock-taking activities. Collaborative robots, equipped with sensors and cameras, can scan barcodes, RFID tags, or visual markers to identify and count items on shelves or storage areas, helping maintain accurate inventory records.
Collaborative robot market in Asia Pacific estimated to grow at the fastest rate during the forecast period
The collaborative robot market in Asia Pacific is expected to grow at the highest CAGR during the forecast period. Major countries in the Asia Pacific, such as China, India, Japan, and South Korea, have a huge potential for adopting collaborative robots. Some of the major drivers responsible for spurring the demand for cobots in Asia Pacific include growing industrialization, digitization, shortage of labor, aging population, and rising demand for automation technologies.
Collaborative Robot Market by Region
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Collaborative Robot Market Key Players
Major vendors in the collaborative robot companies include Universal Robots A/S (Denmark), FANUC Corporation (Japan), ABB (Switzerland), Techman Robot Inc (Taiwan), KUKA AG (Germany), Doosan Robotics Inc. (South Korea), Denso Corporation (Japan), Yaskawa Electric Corporation (Japan), AUBO (Beijing) Robotics Technology Co., Ltd (China), and Rethink Robotics GmbH (US). Other players include Omron Adept Technologies, Inc. (US), Franka Emika GmbH (Germany), Comau S.p.A. (Italy), F&P Robotics AG (Switzerland), Stäubli International AG (Switzerland), Bosch Rexroth AG (Germany), Productive Robotics, LLC (US), Wyzo (Switzerland), Neura Robotics GmbH (Germany), Elephant Robotics (China), Elite Robot (China), Kassow Robots (Denmark), Siasun Robot & Automation Co. Ltd. (China), MIP Robotics (France), and Hanwha Corporation (South Korea) are some of the key players in the collaborative robot market.
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Report Metric |
Details |
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Estimated Market Size |
USD 1.2 Billion |
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Projected Market Size |
USD 6.8 Billion |
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Growth Rate |
34.3% |
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Market size available for years |
2019—2029 |
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Base year |
2022 |
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Forecast period |
2023—2029 |
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Segments covered |
Payload, Component, Application, Industry, and Region |
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Geographic regions covered |
North America, Europe, Asia Pacific, and RoW |
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Companies covered |
Universal Robots A/S (Denmark), FANUC Corporation (Japan), ABB (Switzerland), Techman Robot Inc (Taiwan), KUKA AG (Germany), Doosan Robotics Inc. (South Korea), Denso Corporation (Japan), Yaskawa Electric Corporation (Japan), AUBO (Beijing) Robotics Technology Co., Ltd (China), and Rethink Robotics GmbH (US). Other players include Omron Adept Technologies, Inc. (US), Franka Emika GmbH (Germany), Comau S.p.A. (Italy), F&P Robotics AG (Switzerland), Stäubli International AG (Switzerland), Bosch Rexroth AG (Germany), Productive Robotics, LLC (US), Wyzo (Switzerland), Neura Robotics GmbH (Germany), Elephant Robotics (China), Elite Robot (China), Kassow Robots (Denmark), Siasun Robot & Automation Co. Ltd. (China), MIP Robotics (France), Hanwha Corporation (South Korea), Kawasaki Robotics (US), Dobot Robotics (China), Jaka Robotics (China), Huiling-Tech Robotic Co, Ltd (HITBOT) (China) |
Collaborative Robot Market Highlights
This research report categorizes the collaborative robot market based on payload, component, application, industry, and Region.
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Subsegment |
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By Payload: |
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By Application: |
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Recent Developments
- In May 2023, Universal Robots A/S (Denmark) announced a partnership with Denali Advanced Integration, a leading services and global technology integrator. Denali has become Universal Robots’ biggest Certified Solution Partner (CSP). It is now expected to use its unparalleled integration expertise and market reach to bring Universal Robots’ cobot technology to major business across the globe as part of its new Automation-As-A-Service (AaaS) portfolio, which it announced in April. This will offer large scale companies end-to-end integration and service support and corresponds with a growing interest from large businesses in cobot automation.
- In October 2022, ABB (Switzerland) entered a strategic partnership with US-based startup Scalable Robotics to enhance its user-friendly robotic welding systems portfolio. Through 3D vision and embedded process understanding, the Scalable Robotics technology allows customers to easily program welding robots without coding.
Frequently Asked Questions (FAQ):
What will be the dynamics for adopting a collaborative robot market based on component type?
The hardware segment is expected to hold a larger share of the collaborative robot market during the forecast period. The hardware system consists of robotic arms, end effectors, controllers, drives, sensors, motors, and power supply and accounts for a significant part of the cost of a collaborative robot. There has been a surge in the market for robot accessories, such as end effectors and controllers, in recent years. End effectors are expected to achieve a higher level of technological sophistication in the future as machine learning software and safety features are increasingly being combined within the End of Arm Tooling (EOAT) itself. Following Industrial 4.0, which facilitates flawless communication and superior data optimization and collection, sustainability continues to spread wide in the robotic End of Arm Tooling (EOAT) industry, thereby driving developments in the collaborative robot market.
Which industry segment will contribute more to the overall collaborative robot market share by 2029?
The automotive industry segment will contribute the most to the collaborative robot market. The market for the automotive industry segment is expected to account for the largest share of the collaborative robot market during the forecast period. Collaborative robots are used by major car manufacturers and numerous OEMs that supply automotive parts to these car manufacturers. In recent years, the focus of automotive manufacturers is shifting toward manufacturing lightweight vehicles, due to which these manufacturers are substituting heavy metal parts with plastic to reduce vehicle mass and create greater efficiency. For this purpose, plastic injection molding machines are used in the automotive industry, requiring constant tending. Finding the labor for such monotonous and repetitive tasks is difficult. In such a case, collaborative robots are preferable as they can work alongside human workers on the lines and perform operations flexibly in different areas, such as material handling, machine tending, performing tests and inspections, and packing finished goods. The automotive industry uses Collaborative robots for quality control and inspection processes. They can perform visual inspections, measure dimensions, and check for defects or abnormalities in manufactured components or finished vehicles.
How will technological developments such as the Internet of Things (IoT) and artificial intelligence (AI) technology change the collaborative robot market landscape in the future?
The Industrial Internet of Things (IIoT) and advancements in AI are anticipated to drastically improve the operational capabilities of collaborative robots in the next five years and provide a desired long-term outcome for increased production visibility, real-time guidance, and data-driven performance.
Which region is expected to adopt collaborative robots at a fast rate?
Asia Pacific region is expected to adopt collaborative robots at the fastest rate. Developing countries such as India and China are expected to have a high potential for the market's future growth.
What are the key market dynamics influencing market growth? How will they turn into the strengths or weaknesses of companies operating in the collaborative robot market?
The e-commerce and logistics industries are witnessing increased adoption of industrial automation. Given the current growth rates in e-commerce, demand for warehouse labor is expected to increase manifold in the coming decade. Warehousing operations around the globe are swiftly changing because of E-commerce. Factors such as disrupted supply chains, overcrowded ports, and The Great Resignation have pushed warehouses and fulfillment centers to focus on solutions to their need for more seamless order fulfillment and logistics processes. To adjust to the increased demand, businesses are turning to automated systems. One of the ways that logistics and supply chain companies are improving their warehouse operations is by utilizing collaborative robots.
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The study involved four major activities in estimating the size of the collaborative robot market. Exhaustive secondary research was done to collect information on the market, peer, and parent markets. The next step was to validate these findings, assumptions, and sizing with industry experts across value chains through primary research. The bottom-up approach was employed to estimate the overall market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Secondary Research
In the secondary research process, various sources were used to identify and collect information important for this study. These include annual reports, press releases & investor presentations of companies, white papers, technology journals, certified publications, articles by recognized authors, directories, and databases.
Secondary research was mainly used to obtain key information about the supply chain of the industry, the total pool of market players, the classification of the market according to industry trends to the bottom-most level, regional markets, and key developments from the market and technology-oriented perspectives.
Primary research was also conducted to identify the segmentation types, key players, competitive landscape, and key market dynamics, such as drivers, restraints, opportunities, challenges, and industry trends, along with key strategies adopted by players operating in the collaborative robot market. Extensive qualitative and quantitative analyses were performed on the complete market engineering process to list key information and insights throughout the report.
Primary Research
Extensive primary research has been conducted after acquiring knowledge about the collaborative robot market scenario through secondary research. Several primary interviews have been conducted with experts from the demand (end users) and supply side (collaborative robot providers) across four major geographic regions: North America, Europe, Asia Pacific, and RoW. Approximately 80% and 20% of the primary interviews have been conducted from the supply and demand side, respectively. These primary data have been collected through questionnaires, emails, and telephonic interviews.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
In the complete market engineering process, both the top-down and bottom-up approaches were implemented, along with several data triangulation methods, to estimate and validate the size of the collaborative robot market and various other dependent submarkets. Key players in the market were identified through secondary research, and their market share in the respective regions was determined through primary and secondary research. This entire research methodology included the study of annual and financial reports of the top players, as well as interviews with experts (such as CEOs, VPs, directors, and marketing executives) for key insights (quantitative and qualitative).
All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All the possible parameters that affect the markets covered in this research study were accounted for, viewed in detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data. This data was consolidated and supplemented with detailed inputs and analysis from MarketsandMarkets and presented in this report.
Collaborative Robot Market: Bottom-Up Approach
Data Triangulation
After arriving at the overall market size from the market size estimation process, as explained above, the total market has been split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments, market breakdown and data triangulation procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply sides. Along with this, the market has been validated using top-down and bottom-up approaches.
Definition
As per the International Federation of Robotics (IFR), robots designed for collaborative use need to comply with the International Organization for Standards (ISO) norm 10218-1, which specifies requirements and guidelines for the inherent safe design, protective measures, and information for the use of industrial robots.
Collaborative robots (also known as cobots) are designed to work alongside humans with precision, strength, and speed to achieve greater efficiency in production. Using robots to assist humans can help significantly reduce the workload of human workers and relieve them of monotonous, repetitive tasks. As an emerging automation technology, collaborative robots complement the existing industrial robotics market. The total cost of ownership of factory automation solutions, especially for small and medium-sized enterprises (SMEs), can be significantly reduced by adopting cobots. Cobot operations are primarily governed by the ISO 15066:2016 standard that further specifies various safety requirements. Other standards governing the safe operations of cobots include ISO 10218-1:2011, RIA/ANSI R15.06-2012, ISO 12100:2010, and ISO 13849-1:2008.
Key Stakeholders
- Senior Management
- Application
- Finance/Procurement Department
- R&D Department
Report Objectives
- To describe and forecast the collaborative robot market by payload, component, application, and industry in terms of value
- To describe and forecast the market by payload, application, and industry in terms of volume
- To describe and forecast the market for four main regions, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW), in terms of value and volume.
- To provide detailed information regarding factors, including drivers, restraints, opportunities, and challenges, influencing the growth of the market
- To provide a detailed overview of the value chain pertaining to the ecosystem of the market
- To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the total market
- To analyze opportunities in the market for various stakeholders by identifying high-growth segments
- To benchmark players operating in the market using the proprietary Competitive Leadership Mapping framework, which analyzes market players using various parameters within the broad categories of business and product strategy
- To strategically profile key players and comprehensively analyze their market position in terms of ranking and core competencies2, along with detailing the competitive landscape for market leaders
- To analyze competitive developments such as acquisitions, product launches and developments, and research and developments in the market
Available Customizations
With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:
Product Analysis
- Product matrix that gives a detailed comparison of the product portfolio of each company
Company Information
- Detailed analysis and profiling of additional market players (up to 7)
Generating Response ...
Growth opportunities and latent adjacency in Collaborative Robot Market
I teach a course titled "Technology, Innovation and Future of Work". It is a graduate level course in our Business School (elective course of Operations Management Area). Robots and Cobots in manufacturing is a module of the course. Your report will be useful in explaining the significance of cobots/robots in manufacturing. So, can you help me with a sample and few more insights on this?
I'm writing an article on cobots in Pharma labs (R&D and QC). Would you like to comment on data/trends/uses? Deadline Dec. 24.
hey guys, I'm working on an Augmented reality startup and we had the idea to enable robot collaboration with Augmented Reality glasses. Unfortunately we're bootstrapping (out of University) and cannot afford to buy a report in this price range. However it would be great to find a few more information about this arising industry.
I'm a New-York-based journalist working with a new science and technology magazine being launched this spring. I'm writing a piece about the rise of cobots, and would love to talk to one of your analysts about the report "Collaborative Robot Market worth $12,303 million by 2025", and quote them in this piece. Would someone be free to talk with me? If so, let me know a good time and we'll do it!
We are a robot drive manufacturing company and our specific interest lies in collaborative robot market for above 10 kg and their respective applications interlinked with regional analysis.
I wonder why there is completely missing Mitsubishi electric (one of the top robot producers).
My thesis for my EMBA is based on the cobot market. Would be great to be able to use some of the research in this report.
Dear Sir or Madam, I am a student at an University and writing my dissertation about collaborative robots. Therefore, I would like to ask you if it is possible to send me any information regarding the price forecast for collaborative robots? If so, it would be great and I would be very grateful since I am not able to buy your report due to my financial situation. However, I am really interested in Cobots.
I'm evaluating collaborative robot market for our company's new business area. So, I want to know the each region's market size and upcoming applications in detail.
I'm a course designer at an university for the subject 'industrial automation'. I am thinking of including some content on collaborative robots in our curriculum and hence would like to understand the role of collaborative robots in industrial automation. Few use cases also might be helpful.
Hi, I would request for a free sample report as I need to validate the collaborative robot market data for one of my clients. If found satisfactory, the client will buy it for sure.
We are looking for report focusing on Mexican collaborative robot market (overall and by industry) and after-market services of collaborative robots. Could you please quickly provide estimated fees and timeline for delivery?
We are looking to get into the business of collaborative robots as our clients face a big challenge to configure Industrial Robots. Does this cover the aspect of better RoI owing to adoption of collaborative robots compared to industrial robots?
I have been approached by a company that wants to hire me to sell Collaborative Robots. I am investigating the market before I make a decision.
Investigating the availability and capability of Collaborative Robots for applications in Body Shops in Automotive Assembly Plants, especially for assisting manual installations and assembly processes.
We are trying to identify the ideal collaborative robot for a material handling task for one of our clients. Can this report address our concern?
I am working on a project in industrial automation focusing on collaborative robots. My immediate task is a market sizing exercise. Hence would need insights on annual shipment and selling prices for various companies.
I would like to know more about COVID 19 impact on Cobots Industry.
I would like to know more about COVID 19 impact on Cobots Industry.
I'm looking to refer this study for understanding the growth opportunities specifically in machine tending and processing applications. The insights obtained will have a direct impact on our upcoming R&D investments for product development.
I intend to use the report for academic purpose, namely for the theoretical introduction of my master thesis. Can I get some insight about the collaborative robot market? I would cite your report as a part of references.
As I´m preparing a report about collaborative robots market developments, I would like to use some of the figures in your report. Can you help me with this?
Dear MarketsandMarkets, I am writing my PhD thesis about the collaborative robots, I would like to use your research result in the introduction chapter (main players, forecast in the future). Of course keeping the correct citation and reference rules. Please share your research with me.
Does the report cover information on, how you categorize revenues for different application types? Additionally, testing doesn’t seem to be that large last year. I will purchase the report if you can provide some insights specifically around this application – waiting for your reply and if you think the question can be answered I will purchase soon. High priority, urgent purchase requirement, I can specifically visit your premises post confirmation as I am currently working on a project in Pune.
We are a venture capital firm and are trying to understand the state of the art in AI for cobot vision, task definition, error handling etc. Further, insights on the new entrants with AI integrated vision products offered in the market would help us in making investment decisions.
I have recently joined a renowned robotics institute, and I am trying to get a perspective and an estimate of market sizes of various end use industries such as automotive, electronics, and food. Can you share a document with me for the same?
Since, covid has impacted the market for cobots, in what innovative ways can the companies bounce back?
I would like to check the collaborative robot market status and growth etc. as my company is preparing new 5G smart factory product.
I'm currently writing my thesis for bachelor in business and economics, where I'm analyzing the impact of the future technological advancements on the collaborative robot market and how is it going to affect the SMEs (small medium enterprises) worldwide. Therefore this forecast would be very valuable to me.
I'd like to get an idea on how have you incorporated impact of future technology trends for forecasting collaborative robots market.
Interested in partnering with other industrial and collaborative robot manufacturers. Can you help us with few crucial details?