Collaborative Robot Market

Market Leadership - Collaborative Robot Market

A significant adoption rate of co-bots by small- and mid-sized enterprises (SMEs) across the world owing to their recognizable benefits; reduced cost of ownership compared to other low-payload industrial robots, and one-stop solution for the safe working environment are a few key factors that drive the demand for collaborative robots. The global collaborative robot market is estimated to grow from USD 710 million in 2018 to USD 12,303 million by 2025, at a CAGR of 50.31% from 2018 to 2025. The market is further estimated to grow at a remarkable rate during the forecast period owing to the growing investments in automation by end-user industries to support the evolution of Industry 4.0.

Major players adopted the strategies of agreements, partnerships, and collaborations; product launches; business expansions; and mergers and acquisitions to strengthen their product portfolios, increase their market shares, and expand their presence in the said market. For instance, in June 2018, Universal Robots A/S (Denmark) launched e-Series of collaborative robots (or co-bots) that possess greater precision and sensitivity than their predecessors. In May 2018, the company extended its distribution partner network in Malaysia by partnering with Bizit Systems, Multitrade Asiapac, Servo Dynamics, and T. E. M. Engineering.

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Universal Robots A/S (Denmark) and FANUC Corporation (Japan) are the 2 major players in the collaborative robot market. Universal Robots offers UR3, UR5, and UR10 collaborative robots named after their payloads in kilograms. The company launched its first robot in December 2008 and currently leads the collaborative robot market. Co-bots from the company find their applications in several activities, such as pick and place, injection molding, computer numerical control (CNC), packaging and palletizing, quality inspection, assembly, polishing, machine tending, lab analysis, testing, and gluing and welding.

FANUC Corporation (Japan) offers CR-4iA, a collaborative robot with payload capacity and reach of 4 kg and 550 mm, and CR-7iA and CR-7iA/L with a payload capacity of 7kg (each) and reach of 717 mm and 911 mm, respectively. The company recently launched CR-35iA, a collaborative robot with a payload capacity of 35 kg and reach of 1,813 mm. Collaborative robots offered by the company are best suited for material handling, parts assembly, and workpiece transfer tasks across industries such as electronics and automotive. The company majorly focused on expanding its reach in new geographical regions. For instance, in May 2018, with investments of more than JPY 17 billion (~USD 150 million), FANUC expanded its production capacity by constructing 3 factories in Japan.

Related Reports:

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

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Report Code
SE 4480
Published ON
Oct, 2018
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