According to a new report, published by KBV research, The Global Collaborative Robots Market size is expected to reach $10.8 billion by 2028, rising at a market growth of 40.1% CAGR during the forecast period.
The Hardware market segment shows high market share in Global Collaborative Robots Market by Component in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $6.9 billion by 2028. It is due to the increasing investment by the companies on the implementation of various kinds of hardware. Along with that, there are many key market players who are introducing advanced technology embedded cobots, which is contributing to the demand and growth of the segment during the forecast period.
The Handling market would exhibit a CAGR of 40.5% during (2022 - 2028). It is a result of rising demand from the automotive, food and beverage, electronics, and semi-conductor industries. In addition, material handling plays a significant role in these businesses because some of the components are delicate and necessitate smooth movement. Robots are frequently utilised in such circumstances to reduce accidents and preserve staff safety.
The Automotive market is leading the Global Collaborative Robots Market by Vertical in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2.7 billion by 2028. One of the biggest markets for collaborative robots is the automotive sector. Collaborative robots are widely utilized in the manufacturing of automobiles for a variety of tasks include welding, handling, assembling and dismantling, and dispensing. One of these early and most widely used uses of collaborative robots in the automotive sector has been welding.
The Up to 10kg market would showcase a CAGR of 40.3% during (2022 - 2028). For operations like machine tending and palletizing, cobots in the 5–10 kg payload capacity group may handle larger items and also have a longer reach. Robots with such a payload capacity of 5–10 kg will not require specialist grippers for collaborative operations since grippers which are rated for carrying weights up to 10 kg or less are considered collaborative under the ISO 10218 safety standard.
Asia Pacific dominated the Global Collaborative Robots Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $3.4 billion by 2028. The Europe market is estimated to witness a CAGR of 39.2% during (2022 - 2028). Additionally, The North America market is anticipated to grow at a CAGR of 39.8% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/collaborative-robots-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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