The Europe Collaborative Robots Market would witness market growth of 39.2% CAGR during the forecast period (2022-2028).
Numerous fundamental business tasks are managed by robots, which play a critical role in industrial automation. Even in dangerous circumstances, robots can complete intricate, repetitive tasks with accuracy. They have been deployed in production facilities across the majority of industries precisely because of this. Over 88% of firms believe automation would increase human achievement and be efficient when it supports humans, as per a report by UiPath.
Owing to their improved speed, accuracy, precision, adaptability, and agility, industrial robots utilized in the automotive sector are employed more effectively and efficiently. Over the past ten years, the manufacturing of passenger cars has become more sophisticated. Robots are now used for a significant amount of manufacturing processes owing to automation technologies.
Flexibility is one of the main advantages of collaborative robots. Collaborative robots, working alongside human colleagues, increase the productivity of current employees and new hires, filling labour gaps and facilitating the smooth operation of facilities to handle temporary spikes in demand. Businesses can employ cobots as required rather of recruiting more workers at peak seasons and letting them go or keeping them on (at the expense of bottom lines) as demand declines. Many collaborative robot companies, for instance, let warehouse workers rent, buy, or do both.
In order to give a strategy to aid businesses in their digital transition, Spain created Connected Industry 4.0, an industrial digitalization effort, in 2016. The initiative's key goals include boosting the sector's industrial added value and qualified employment while preferring the Spanish model for emerging sectors and the domestic production of digital solutions. Spain offers excellent potential for US exporters to compete in the robotics and automation subsectors.
The Germany market dominated the Europe Collaborative Robots Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $725.2 million by 2028. The UK market is experiencing a CAGR of 38.1% during (2022 - 2028). Additionally, The France market is exhibiting a CAGR of 40.2% during (2022 - 2028).
Based on Application, the market is segmented into Assembly, Handling, Quality Testing, Packaging, Pick & Place, Machine Tending, Gluing & Welding and Others. Based on Component, the market is segmented into Hardware and Software. Based on Payload, the market is segmented into Up to 5kg, Up to 10kg and Above 10kg. Based on Vertical, the market is segmented into Automotive, Food & Beverage, Furniture & Equipment, Electronics, Plastic & Polymers, Metal & Machinery, Pharma and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Collaborative Robots Market will Hit $10.8 Billion by 2028, at a CAGR of 40.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ABB Group, Robert Bosch GmbH, Denso Corporation, Seiko Epson Corporation, FANUC Corporation, Yaskawa Electric Corporation, Teradyne, Inc. (Universal Robots A/S), Techman Robot, Inc. (Quanta Storage, Inc.), Stellantis N.V. (Comau S.P.A), and Kuka AG (Midea Investment Holding Co., Ltd.)
By Application
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