Market research suggests collaborative robots will soon replace robots
Collaborative robots, also known as cobots, are used in different factories to help workers perform their tasks by tracking and correcting them if a deviation from their tasks occurs. Collaborative robots are user friendly and flexible as compared to conventional industrial robots. They work as an assist device to humans and help increase the efficiency and quality of the work.
Drivers of this market include the rising need for collaborative robots in automation industry and the various countries across the world that are revving up their electronics and consumer goods industries. The need to decrease man power while operating various type of machines is also driving the demand for collaborative robots worldwide. Small and medium sized enterprises are focused on higher return on investment facilities and collaborative robots are attracting them. However, collaborative robots require expert operators, and high technology and industries such as the IT sector, automotive sector, manufacturing hub, electronics and consumer goods, etc., are facing a short supply of skilled operators. Many small and medium sized enterprises cannot afford to invest large capital to train the operators. This factor is likely to restrain the growth of the collaborative robots market globally, but that restraint is estimated to remain low as larger companies are investing in proper training of the robot operators. The ongoing technological advancement in the collaborative robots industry, along with the inclination of different countries towards adoption of collaborative robots coupled with high payload carrying capacity, means cobots are generating opportunities and the market is expected to rise during the forecast period.
The market is segmented in four categories: by types, by application, by industry, and by region. In terms of types, the market can be divided into plain software and hardware; in terms of hardware, the market can be divided by sensor, drive, controller, and others; in terms of application, the market can be divided into packaging, handling, quality testing, assembly, machine tending, and others; and in terms of industry, the market can be segregated into automotive, food and beverage, electronics and consumer goods, furniture and equipment, plastics and polymers, metal and machining, and chemistry, among others.
By geography, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The study also covers major countries in all the regions such as the United States in North America; the U.K, Germany, France, Russia, Italy, and the rest of Europe in Europe; China, India, Japan and the rest of APAC in Asia Pacific; Brazil in Latin America; and GCC in Middle East and Africa, among others. However, the Asia Pacific region is expected to see faster growth during the forecast period due to the presence of developing nations such as India and China. This growth is attributed to the availability of the skilled workforce required to collaborative robots market.
The key players participating in the collaborative robots market are Asea Brown Boveri (ABB) Ltd. in Switzerland, FANUC Corporation in Japan, KUKA AG in Germany, Universal Robots A/S in Denmark, Robert Bosch GmbH in Germany, MRK-Systeme GmbH in Germany, Rethink Robots Inc. in the U.S., Energid Technologies in the U.S., Precise Automation in the U.S., F&P Robotics AG in Opfikon Switzerland, and others.