Collaborative Robots: Preparing a Future for Human-to-Robot Interaction
As the ‘fourth industrial revolution’ sets to take the entire supply chain by storm, companies are making rapid strides to increase productivity and improve resource utilization through integration of highly advanced technologies, without neglecting the human workforce. A range of manufacturing technologies that fuse physical and digital worlds with breakthroughs in Artificial Intelligence (AI), Internet of Things (IoT), industrial robotics, and 3D printing are seen as the main drivers of Industry 4.0. Additionally, in the ongoing industrial transformation journey, robots are moving from behind fixed and caged locations to work stations alongside human workers. Conventional industrial robots that move with great force have for long been used in several work operations until recently, following the rise of collaborative robots or ‘cobots’.
Today, robotics have become an unstoppable phenomenon. Equipped with powerful onboard computers, multiple advanced sensors, and reliable EOATs, collaborative robots are gaining strong momentum for their versatility, user-friendliness, affordability, and small footprint – much beyond the innate Industry 4.0 compatibility. Moreover, a number of technologies are taking collaborative robots to new heights, which may come with extensive interactive features to enable recognition of voice commands and more seamless collaboration with human workforce, or be intelligent enough to move away from programmed instructions.
Collaborative Robots Market - Key Research Findings
- The global collaborative robots market size in 2018 was valued at ~US 650
- The collaborative robots market is anticipated to grow at a CAGR of ~26% during the forecast period of 2019-2029.
- The payload capacity up to 5kg segment of collaborative robots is expected to remain as the most preferred product type segment in the collaborative robots market.
- The growth of this particular segment can be primarily attributed to the global growth of the collaborative robots market.
- East Asia is likely to account for more than half of the revenue shares in the collaborative robots industry by the end of 2029.
- East Asia will continue to be a significant market for collaborative robots manufacturers and distributors, owing to the increasing production and demand for collaborative robots in the automated industry.
- The electronic and semiconductor segment is likely to continue as the prominent end-use industry, which creates significant growth opportunities for collaborative robots market players.
- The electronic industry has witnessed significant growth over the recent past. The increased demand for high precision work, accuracy, and easy programing offered by built-in sensitivity of collaborative robots, is expected to propel the demand for collaborative robots.
- Noteworthy application potential of collaborative robots such as assembly/disassembly, material handling, inspection and testing, stamping, etching and dispensing, are creating an upswing in the collaborative robots market.
Key Factors Shaping the Collaborative Robots Market
- Automotive Industry is Propelling the Demand for Collaborative Robots
Automotive industry is adopting automation at a very fast rate. Implementation of collaborative robots for tedious as well as dangerous jobs to obtain high quality work is being done by OEMs. Boosting the pace of production and reduction in labor costs, along with the minimum floor space requirement, are the significant factors leading automotive manufacturers towards the adoption of the collaborative robot technology. The automotive industry, being one of the influential industries, is expected to set the path for the collaborative robots market in the near future.
- Inclination of End-use industries towards Collaborative Robots Boosting the Market Growth
Aerospace and electronics industry, where high precision automation is required, are inclined towards collaborative robots. Advantages such as flexibility and speed, coupled with the reduction of ergonomic issues are benefitting these industries on a large scale. Healthcare, food and agriculture, plastic, and pharmaceutical, are among other industries implementing collaborative robots over traditional robots.
- Continually Increasing Applications of Collaborative Robots Boosting the Market Growth
Replacement of repetitive manual tasks with collaborative robots, which provide better finish and precision work, and offer a wide horizon of applications has set trend in the market. Major collaborative robot applications include material handling, assembly/disassembly, welding, painting/spraying, and inspection/testing.
- Countries with Industrial Robot Dominance Facing a Paradigm Shift towards Collaborative Robots
China, South Korea, and Japan are the significant countries contributing to the growth of the collaborative robots market in the East Asia region. Vietnam, Thailand, and India are prominent countries for the market in the South Asia and Pacific region. Whereas, Europe, Middle East and Africa, Germany, Sweden, France, and Italy, are driving the front wheel of the market. Canada and the U.S are witnessing an upsurge in the collaborative market in the Americas region.
Collaborative Robots Market Structure Analysis
- The global collaborative robots market is a moderately competitive market. Approximately ~40% share of the market is held by tier-1 players.
- Expansion of the business through mergers, acquisitions, collaborations, and alliances are the strategies followed by key players in the collaborative robots market. Key market players focus on strategies such as adoption of new technologies to develop innovative products, and further enlargement of sales and distribution channels.
- Noteworthy investments in the research and development for novel and sturdy products is projected to boost the growth prospects of the collaborative robots market.
- Major players in the collaborative robots market are Universal Robots A/S, AUBO Robotics, Fanuc Corporation, Stäubli International AG, Robert Bosch GmbH, KUKA AG, Precise Automation, Inc., Denso Wave Incorporated, ABB Group, Yaskawa Electric Corporation, and K2 Kinetics.
- Global and local market players are benefiting from a significant marketing network of distributors. Local and international offices deliver sales and aftersales services to their customers to retain their customers’ base across tier 1 and tier 2 cities.
Latest Wave of Automation and Shrinking Labors Pools to Create Sales Opportunities
The rapid revolution of industries is bringing a paradigm shift in businesses, economy, and society. Tremendous changes in the automotive industry, in line with growing desire for enhanced driving experience, improved in-car ambience, and reduced carbon emissions, have promoted the adoption of new technologies to not only accelerate the production pace but also to enable the manufacturing of precise products. Benefiting from a strong desire for advanced automation technologies, collaborative robots have been witnessing a spike in popularity in the automotive industry. The manufacturing industry in particular, is turning to such robotic technology to compete in response to shrinking labor pools as labor costs increase and baby boomers age.
As e-commerce industry continues to move on an upward swing, the demand for warehouse workers are inevitably exceeding the labor supply, creating an increasing need for automation. The digital transformation of warehouses is thus likely to present tremendous market opportunities for collaborative robots manufacturers. IoT and robotics, including cobots, are further ready to play a significant role in the health care settings. In an attempt to improve patient-centricity in hospitals and create a better workforce conditions, the healthcare industry is highly likely to move into cobot space, given the enhanced mobility and lightweight nature.
East Asia to Outdo European Countries that Pioneered the Robotic Technology
East Asia is leading the explosion of collaborative robots market, as countries such as Japan and China are experiencing an intense transition to new era of automation, endeavoring to break their reliance on foreign technology. With a rapid increase in demand and the emergence of numerous startups, China is likely to lay the foundations of a collaborative robots-oriented investment model. While the Chinese market is on a right path to get closure to its maturity, the collaborative robots are ready to shape the future of manufacturing in India. Additionally, European countries, the pioneers in robotic technologies, continue to offer greater opportunities, due to strong presence of frontrunners of the market and sheer scale of robot dominance across industries.
Democratizing Automation in Small and Midsized Manufacturing Space
The future of collaborative robots will ride on their applicability in large industries as well as SMEs. Cobots are beginning to play a major role in small and mid-sized businesses that might not have been able to leverage high-end industrial robots to start automating their processes. New possibilities have also been put in front of entrepreneurs and relatively small businesses, aiming to automatize their production processes, material handling, and storage. Unlike the robots of the past, collaborative robots are state-of-the-art tools in the hands of manufacturers to produce quickly and cost-effectively, while addressing most pressing problems.
In the new era of disruptive innovations that will make factories smarter than ever, manufacturers are joining the race with massive investments and robust R&D activities that will radically change the collaborative robots of the future. Although these robots will considerably improve worker’s productivity, factories will require much fewer and more skilled workers to operate, creating a significant technological gap and unskilled labors losing their reliance on massive job creation provided by the manufacturing sector. In addition, the elimination of safety fences in robotic operations will create a need for strict safety regulations.
Up to 5Kg payloads remain highly preferred
Demand for above 10Kg payloads increases rapidly
High applicability in material handling
Application in general assembly to pick pace
Adoption in electronics & semiconductors industry significant
Use in automotive & transportation sector remains bullish
How Growth will Unfold
The greater awareness at SMEs and the wider adoption by major OEMs have compelled mainstream traditional industrial robots vendors to market their own collaborative robots. To maintain their strong hold in the market, leading stakeholders are focusing on broadening the scope of collaborative robots by introducing a wider range of products. As the new reality of humans working alongside robots becomes the standard of enhanced performance and improved productivity, the future of collaborative robots looks promising. With a wealth of technological innovation on the horizon, these robots are likely to advance as deep leaning techniques and advanced vision systems which can be integrated into extensive range of applications.
* This data is only a representation. Actual data may vary and will be available in report.Click Here To Know How The Growth Will Unfold
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Global Collaborative Robots Market Analysis 2019 - 2029
A recent market study published by FMI on the collaborative robots market includes global industry analysis 2014-2018 & forecast 2019-2029, and it offers a comprehensive assessment of the most important market dynamics. After conducting a thorough research on the historic as well as current growth parameters of the collaborative robots market, growth prospects of the market are obtained with maximum precision.
Collaborative Robot Market Taxonomy
The global collaborative robots market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach in front of the reader.
By Payload Capacity
- Up to 5kg
- Above 10kg
- Material Handling
- Quality Testing/Inspection
- General Assembly
- Others (Surgery, Cleaners, Institutional)
By End Use
- Automotive & Transportation
- Electronics & Semiconductors
- Food & Beverage
- Chemical & Pharmaceutical
- Others (Plastic, Metal & Machinery, Furniture & Equipment
- South Asia & Pacific
- East Asia
The report commences with the executive summary of the collaborative robots market, which includes a summary of the key findings and statistics of the market. It also includes the global market outlook, supply-side as well as demand-side trends, and recommendations, etc.
In this chapter, readers can find the definition and detailed taxonomy of the collaborative robots market, which will help them understand the basic information about the collaborative robots market. This section also highlights the inclusions and exclusions, which help readers understand the scope of the collaborative robots market report.
The report provides key market trends that are expected to impact the market growth significantly during the forecast period. Detailed industry trends are provided in this section, along with product innovations and key market development.
This section includes the key inclusions of the report. It includes key developments of the collaborative robots market, strategic collaborations, and long-term partnerships.
This section explains the global market volume analysis and forecast for the collaborative robots market between the forecast periods of 2014-2029.
This section highlights the price of the collaborative robots in several regions throughout the globe. The pricing benchmark for manufacturer level pricing and distributor level pricing is analyzed in this section.
This section explains the global market volume analysis and forecast for the collaborative robots market between the forecast periods of 2019-2029. This chapter includes the detailed analysis of the historical collaborative robots market, along with an opportunity analysis of the future. Readers can also find the absolute $ opportunity for the current year (2014 – 2018), and an incremental opportunity for the forecast period (2019 – 2029).
This chapter explains the key macro-economic factors that are expected to influence the growth of the collaborative robots market over the forecast period. Along with the macroeconomic factors, this section also highlights the opportunity analysis for the collaborative robots market. This chapter also highlights the key market dynamics of the collaborative robots market such as drivers, restraints, trends, and opportunities. Moreover, readers will understand the value chain analysis, automotive industry overview, forecast factors, etc.
Based on the payload capacity, the collaborative robots market is segmented into up to 5kg, 5-10kg, and above 10 kg. In this chapter, readers can find information about the key trends and developments in the collaborative robots market and market attractiveness analysis based on the payload capacity.
This chapter provides details about the collaborative robots market on the basis of application, and has been classified into welding, material handling, quality testing/inspection, general assembly, painting/spraying, and others. In this chapter, readers can understand the market attractiveness analysis based on the application.
This chapter provides details about the collaborative robots market on the basis of end use, and has been classified into automotive and transportation, electronics and semiconductors, food & beverage, chemical and pharmaceutical, logistics, healthcare, and others. Readers can also understand the market attractiveness analysis based on the end-use industry.
This chapter explains how the collaborative robots market will grow across several geographic regions such as the Americas, Europe, Middle East & Africa (EMEA), South Asia & Pacific, and East Asia.
This chapter includes a detailed analysis of the growth of the North America collaborative robots market, along with a country-wise assessment that includes the U.S., Canada, Brazil, and Mexico. Readers can also find regional trends, regulations, and market growth based on the technology and countries in North America.
Important growth prospects of the collaborative robots market based on its products in several countries such as Germany, Italy, France, U.K., Spain, BENELUX, Russia, Poland, and the Rest of Europe as well as MEA region, such as GCC countries, Turkey, South Africa are provided in this section.
India, ASEAN, and the Rest of SAP, are prominent countries in the South Asia & Pacific. India and ASEAN region that are the prime subjects of assessment to obtain the growth prospects of the South Asia & Pacific collaborative robots market in this chapter. Readers can find detailed information about the growth parameters of the South Asia Pacific India and the ASEAN collaborative robots market during the forecast period of 2019-2029.
This chapter provides information about how the collaborative robots market will grow in major countries of East Asia such as China, Japan, and South Korea during the forecast period of 2019-2029.
This chapter provides information about how the collaborative robots market will grow in China during the forecast period of 2019-2029.
This chapter provides information about how the collaborative robots market will grow in India during the forecast period of 2019-2029.
This chapter provides information about how the collaborative robots market will grow in France during the forecast period of 2019-2029.
In this chapter, readers can find detailed information about the tier analysis and market concentration of key players in the collaborative robots market, along with their market presence analysis by region and product portfolio.
In this chapter, readers can find a comprehensive list of all the prominent stakeholders in the collaborative robots market, along with detailed information about each company, which includes the company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in the report are Universal Robots A/S, AUBO Robotics, Denso Wave Incorporated, Fanuc Corporation, Stäubli International AG, Robert Bosch GmbH, KUKA AG, Precise Automation, Inc., ABB Group, and others.
This chapter includes a list of acronyms and assumptions that provide a base to the information and statistics included in the collaborative robots market report.
This chapter help readers understand the research methodology followed to obtain various conclusions as well as important qualitative and quantitative information about the collaborative robots market.
How the research was conducted?
Primary research interview with Key Opinion Leaders and other participants were conducted for data collection and validation of the below information:
- Average Selling Price (US$) and Market Growth
- Key Developments
- Key Trends and Opportunities
- Region wise Dynamics
- Market Share analysis
- Competition & Key Winning Strategies
- Collaborative robots Manufacturers
- Key participants across the value chain
- Annual Reports/SEC filings/Investor Presentations/Earning Call Transcript
- Industry Journals
Primary Interview Splits