The North America Collaborative Robots Market would witness market growth of 39.8% CAGR during the forecast period (2022-2028).
Some companies decide to purchase enough collaborative robots to cover their requirements during times of typical demand and to rent additional units during times of increased demand. As a result, warehouses won't need to invest a lot of money in automation systems that would only be utilized sometimes. However, warehouse owners can only invest in capital equipment that is required to meet normal demand.
In order to make sure that your fulfilment process keeps up with current and future demand, it is flexible enough to rent extra capacity throughout peak periods and return units once demand returns to baseline. Collaborative robots' mobility makes it simple to move them to other locations, improving resource utilization for multi-site warehousing operations. Additionally, it increases warehouse agility, lowers cost-to-serve, and aids in upholding SLA compliance.
Human error can cost more money for a warehouse. The erroneous order being sent can damage customer relationships and lead to more returns and refund requests. Collaborative robots are able to make quick choices and assist colleagues in managing numerous activities more effectively on the warehouse floor owing to AI and machine learning. Additionally, collaborative robots reduce the possibility of human error by helping their employees via tasks.
One of the biggest marketplaces for robots and one of the top innovators and pioneers in this field is the North American continent. The widespread deployment of such collaborative robots throughout various industries is the main driver of the market's expansion. Additionally, robotic surgery has been widely used in the United States. In the US, there are more than 5,00000 robotic surgery procedures performed each year. Over the past 20 years, robotic surgery has experienced the highest rate of adoption among medical devices in terms of brand image and competitive advantage.
The US market dominated the North America Collaborative Robots Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2,246.1 million by 2028. The Canada market would exhibit a CAGR of 43% during (2022 - 2028). Additionally, The Mexico market would showcase a CAGR of 41.7% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Collaborative Robots Market is Estimated to reach $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.)
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