Collaborative Robot Market Report, Size, Development, Key Opportunity, Application and Forecast

A comprehensive overview of the Global Collaborative Robot Market is recently added by UnivDatos Market Insights to its humongous database. The report has been aggregated by collecting informative data from various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Collaborative Robot market globally. This report offers a detailed analysis of the latest industry developments and trending factors that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Global Collaborative Robot Market at regional and country levels.

Market Overview

Collaborative robot is a type of robot which is capable of performing multiple tasks, as assisted by the humans. They have additional features, such as safety monitored stop, hand guiding, speed and separation monitoring, and power & force limiting. There are numerous types of collaborative robots that are used in industries like safety monitored stop is used to stop the functioning of robot when the safety zone violates; hand guiding is used for path teaching and detection of applied forces; speed and separation monitoring is used for operations requiring frequent worker presence, and power & force limiting is used for the direct collaboration with workers. They are being used in multiple verticals, which include supply chain management, manufacturing, and healthcare. Factors that are escalating the demand for collaborative robots such as lower price of collaborative robots are the and rising demand in the logistics in various application expected to increase its market share in the forecasted period.

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COVID-19 Impact

The outbreak of coronavirus in 2020 had severely impacted the economic conditions around the globe. Industries such as automobile, and manufacturing industries where IoT, robotics solution played a important role has seen slump for a short time period in 2020. For instance: China captures 27% of India’s automotive parts import and disruption in the supply-demand ecosystem has halted production process and blocked the investments and cash delays. Moreover, various manufacturing industries were shut down production facilities to reduce the transmission of coronavirus to the factory workers. However, the vaccination drive across the globe expected to bounce back the manufacturing facilities and flourish the demand for collaborative robot market.

Global Collaborative Robot Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

By Component, the market is primarily bifurcated into:

• Hardware
• Software

 Based on components, the market is classified into hardware and software. The hardware segment generated revenue of USD X billion in 2020. The segment is expected to grow at a CAGR of X% during the forecast period to reach a market valuation of USD X billion by 2027 because it requires a significant amount of fixed and interlocked engineering controls such as robotics arms.

 By Pay Load, the market is mainly segmented into:

• Less than 5Kg
• 5-9 Kg
• 10-20 kg
• Greater than 20 kg

Currently, 5-9kg segment grabbed X% market share of the global collaborative robots’ market and gathered revenue of USD X billion in 2020. The segment is expected to grow at a CAGR of X% during the forecast period to reach a market valuation of USD X billion by 2027 owing to the cost effectiveness and take up less space than robots with higher payload capacity.

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By End-User, the market is mainly segmented into:

• Electronics
• Automotive
• Manufacturing
• Food and Beverages
• Chemicals and Pharmaceutical

 In 2020, the automotive segment dominated the collaborative robots market and accounted for X% market share. This segment would witness a considerable CAGR of X% during the forecast period (2021-2027F) owing the usage of collaborative robots in a variety of automotive applications such as handling, welding, assembling and disassembling, dispensing extensively.

By Application the market is mainly segmented into:

• Material Handling
• Pick and Place
• Assembly
• Palletizing and De-palletizing
• Other (Welding, Painting, Soring, Positioning, etc.)

Currently, material handling segment generated revenue of USD X billion in 2020. The segment is expected to grow at a CAGR of X% during the forecast period to reach a market valuation of USD X billion by 2027. Handling tasks such as pick and place or palletizing are among the mundane and repetitive in nature for the human workers. Machine tending requires workers to stand for long hours. Hence, collaborative robots are able to automate a machine tending process during off hours without any supervision, boosting productivity.

Global Collaborative Robot Market Geographical Segmentation Includes:

• North America (United States, Canada, Rest of North America)
• Europe (Germany, UK, France, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Australia, Rest of APAC)
• Rest of World

Based on the estimation, North America dominated the market in 2020. North America constitutes the largest market for the industry and generated revenue of USD X billion in 2020 predominantly because of US which has the most usage of smart devices & manufacturing industries.

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The major players targeting the market includes:

• Universal Robots
• FANUC
• ABB
• Techman Robot
• KUKA
• Doosan Robotics
• Denso
• YASKAWA
• Precise Automation
• Rethink Robotics

 Competitive Landscape

The degree of competition among prominent companies has been elaborated by analyzing several leading key players operating globally. The specialist team of research analysts’ sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Global Collaborative Robot Market. The major players have been analyzed by using research methodologies for getting insight views on market competition.

Key questions resolved through this analytical market research report include:

• What are the latest trends, new patterns, and technological advancements in the Global Collaborative Robot Market?
• Which factors are influencing the Global Collaborative Robot Market over the forecast period?
• What are the global challenges, threats, and risks in the Global Collaborative Robot Market?
• Which factors are propelling and restraining the Global Collaborative Robot Market?
• What are the demanding global regions of the Global Collaborative Robot Market?
• What will be the market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by the companies?

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