Collaborative Robots Market to Surpass USD 2297.77 Million by 2031 | SkyQuest Technology
Westford, USA, June 06, 2024 (GLOBE NEWSWIRE) — SkyQuest projects that Global Collaborative Robots Market will attain a value of USD 2297.77 Million by 2031, with a CAGR of 12.20% over the forecast period (2024-2031). The corporate world is benefiting from the incorporation of AI and machine learning technology into industrial robots. One well-known example of such a development is the launch by Nokia Corporation of an industrial grade 5G wireless network to satisfy Industry 4.0 needs. OEMs will be able to improve robotic automation and raise manufacturing process productivity, quality, and efficiency with the low-latency connectivity provided by 5G wireless technologies.
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Browse in-depth TOC on the ” Collaborative Robots Market ”
- Pages – 157
- Tables – 125
- Figures – 77
Collaborative Robots Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $ 914.88 Million |
| Estimated Value by 2031 | $ 2297.77 Million |
| Growth Rate | Poised to grow at a CAGR of 12.20 % |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Payload, Application, End-user and Component |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Increasing Demand for Automation in Several Industrial Processes Has Driven the Market Growth |
| Key Market Opportunities | Increasing focus of automation experts on pairing robotic arms with mobile platforms such as AMRs or AGVs |
| Key Market Drivers | High Return on Investment in Deploying Collaborative Robots to Boost Market Growth |
Flexibility and Appropriateness for a Broad Range of Activities Enable the 5kg Sub-Segment’s Dominant Stance
The market is headed by a five-kilogram payload capacity category since they’re adaptable and applicable for many tasks. These are labor-saving devices with many uses; thus, they are used in different sectors hence lowering costs and improving operation efficiency. This way, the market grows while consolidating the segment’s leadership position.
Given that It Can Complete Repeated Tasks with High Accuracy, the Automotive Industry Is Developing at the Fastest Rate
The global market for collaborative robots is led by the automotive vertical as assembly lines require accuracy and efficiency. Collaborative robots, often known as cobots, increase output and quality by accurately completing repeated tasks. As a result, there are cost savings and higher production rates, which promote wider adoption and build industry domination.
North America Can Dominate Due to Owing to the Presence of Key Connected Device and Network Providers
Due to its early adoption in robot-assisted surgery and other applications, as well as its superior technology, collaborative robotics held a significant market share in North America. Increased labor expenses drove the use of collaborative robots to some nations such as the US in 2010 to improve work accuracy as well as save money. There are many collaborative robots which are used across various industries for example automotive industry, electronics as well as manufacturing doing tasks like carrying out assembly lines, machine inspection lines and quality testing lines among others; this has increased efficiency within industry.
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Collaborative Robots Market Insight
Drivers:
- High Return on Investment in Deploying Collaborative Robots to Boost Market Growth
- Rising Advances in Edge Computing
- Increased Demand in e-Commerce and Logistics Sectors
Restraints:
- Lack of Skilled Labor & High Costs Hinder Market Growth
- Disruption in Supply-chain & Decline in Sales
- Higher Preference for Low-Payload-Capacity Robots in Heavy-Duty Industrial Applications
Prominent Players in Collaborative Robots Market
- ABB (Switzerland)
- AUBO Robotics (U.S.)
- Fanuc (Japan)
- F&P Robotics (Switzerland)
- Universal Robots (Denmark)
- Kawasaki Heavy Industries, Ltd. (U.S)
- Robert Bosch GmbH (Germany)
- Precise Automation & Control Pvt Ltd. (U.S.)
- Rethink Robotics GmbH (Germany)
- Stäubli International AG. (Switzerland)
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Key Questions Answered in Global Collaborative Robots Market Report
- What is the estimated market size for collaborative robots worldwide by 2031, and what is the compound annual growth rate (CAGR) anticipated throughout the 2024–2031 projection period?
- In what ways does the corporate world profit from the incorporation of AI and machine learning technology into industrial robots?
- Why is the global market for collaborative robots led by the 5 kg payload capacity category?
This report provides the following insights:
- Analysis of key drivers (Collaborative robots offer a great return on investment, edge computing possess new network infrastructure, compared to traditional industrial robots; collaborative robots only need a controller, pointer & vision system and they are now more flexible & useful than ever for oral computing development), restraints (High initial costs involved in acquisition & integration, scarcity of professional labor in underdeveloped & developed regions and stringent government regulations), opportunities (Dynamic shift expands cobots’ application scope, flexible manufacturing & remote operations and autonomous ground vehicles (AGVs) designed for collaborative use), and challenges (Inherent design limitations in payload and cobots often carry a higher per-unit cost) influencing the growth of collaborative robots market
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the collaborative robots market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the collaborative robot’s market
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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