Cobot Market Future Growth and Top Key Players 2020-2025

Collaborative robots, also referred to as cobots, are used in numerous industries for a varied range of applications, due to their additional benefits over conventional industrial robots. Some of the features of collaborative robots that make them stand out include their collaborative usage capabilities to be used alongside humans, easy installation and operation, and much lower cost than that of conventional industrial robots. With all these additional benefits, collaborative robots also provide enhanced process efficiency as well as a reduction in production cost. Moreover, the increase in the demand for automation in small and medium enterprises (SMEs) and quick return on investments are expected to further push the demand for collaborative robots over the coming years.

The collaborative market research study offers a wide perspective on where the cobot market is heading. The research is based on extensive primary interviews (in-house experts, industry leaders, and market players) and secondary research (a host of paid and unpaid databases), along with the analytical tools that have been used to build the forecast and the predictive models.

The report is a compilation of various segmentations, including market breakdown by industry, payload, and application. While highlighting the key driving and restraining forces for this market, the report also provides a detailed study of the different industries that are analyzed, which includes automotive, electrical, electronics and semiconductor, plastics and polymers, pharma and chemistry, food and beverage, aerospace and defense, metal and machining, and others. The report also analyzes different applications that include material handling, small parts assembly, CNC machine tending, molding operations, test and inspection, packaging and palletizing, polishing, screw driving, gluing, dispensing, welding, and others. In the payload segment, the market is segmented into different payload types, such as less than 5kg, between 5-9Kg, and more than 9Kg. It is based on discussions and interviews with the top management of several leading original robot manufacturers (ORMs), tier-1 suppliers, and solution providers.

During the industrial revolution, which began to gain shape during the 18th and 19th centuries, the demand for autonomous machines proliferated to increase the production as well as improve the quality of products. Prior to the industrial revolution, the manufacturing of products was carried out manually using ordinary tools and machinery. With the onset of industrialization, the demand for mass production and specialized machinery increased and brought out a shift from conventional methods to the deployment of automated machines to perform tedious and repetitive jobs. During that period, workers in an industry used to operate the machines for production. Due to rapid technological advancement in industrial automation, the requirement for automated machines, which could perform the task with preset instructions and negligible human interactions, increased. The requirement of such machines led to the invention and popularization of controlled devices.

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Further technological advancements, such as the introduction of integrated circuits, laid the foundation of industrial robots. In 1959, George Devol and Joseph Engelberger developed the first industrial robot. Later on, the researchers and programmers successfully executed complex programming, and robots with advanced capabilities for other applications were created. The introduction of robots in the manufacturing industry rapidly transformed the process of production, which led to generating the demand for more automated solutions (both hardware and software) to increase process optimization in the manufacturing units.

However, reluctance by SMEs due to high initial deployment cost and integration with the current legacy system are some of the factors that are restraining the market growth. However, the rise in the integration of cobots over mobile platforms and new evolving application areas for collaborative robots are some of the factors creating viable opportunities for players operating in the collaborative robot market.

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