The market for collaborative robots across the globe is projected to reach USD 4,367.1 million by the end of 2023

“Global Collaborative Robots Market (2016–2023)-GMI Research”
Global Collaborative Robots Market By Payload Capacity (Upto 5 kg, Between 5 to 10 kg, Above 10 kg), By Industry (Automotive, Food & Agriculture, Furniture & Equipment, Plastics & Polymer, Metals & Machining, Electronics, Healthcare and Others), By Application (Pick & Place, Assembly, Machine Tending, Quality Inspection, Handling, Packaging & Palletizing, Gluing & Welding and Others) and by Geography, Opportunities & Forecast, 2016–2023

According to GMI Research, “Global Collaborative Robots Market, By Payload Capacity, By Industry, By Application and by Geography, Opportunities & Forecast, 2016–2023”, the market for collaborative robots across the globe is projected to reach USD 4,367.1 million by the end of 2023, growing at a substantial CAGR of 56.6% during the forecast period rising from USD 189.5 million in 2016. The double-digit growth is anticipated on account of low average selling price and higher returns by investing on collaborative robots, increased focus towards automation by industries as well as growing demand for compact, lightweight and dexterous robots.

Browse Press Release :

Co-bots (above 10 kg payload capacity) are anticipated to corner the market exhibiting the highest CAGR during 2016–2023

The collaborative robots (Co-bots) of above 10 kg payload capacity are expected to command global collaborative robots market owing to increased demand from automotive, metals and machining as well as furniture and equipment industries. Moreover, the market attractiveness of co-bots is likely to increase substantially in the near future as these are much more safe and human friendly when compared with their counterparts such as industrial robots.

Automotive industry is predicted to lead the market through 2023

Automotive segment is estimated to hold a majority share in the market and is projected to grow at the fastest rate during the forecast period. The key factor propelling growth of the segment is surging demand by the automotive manufacturers to perform various tasks such as pick & place, assembly, machine tending, quality inspection, handling and packaging & palletizing. Apart from this, the growing applications of co-bots in various other industries such as food & agriculture, furniture & equipment, metals & machining, plastics & polymer, electronics and healthcare are further forecast to drive the market over the coming years.

Request Sample:

Assembly application dominated the market in 2016

Design of end effectors (grippers) and high amount of flexibility provided by co-bots in terms of effortless reprogramming make them a best fit for assembly application. Pick and place segment captured the second largest share in global collaborative robots market in 2016. The utilization of co-bots across varied industries such as automotive, electronics, metals & machining, furniture & equipment, among others is anticipated to stimulate growth of assembly application over the course of next five years.

Europe region captured the largest share in the market in 2016

Growing demand from the transportation sector, presence of large number of end-user industries as well as strong government support to promote factory automation solutions are the key factors propelling the growth of collaborative robots market in the region. Germany is the major economy in the European region with the highest usage of collaborative robots. North America and Asia-Pacific are the other key dominant regions in global collaborative robots market. The collaborative robots market in Asia-Pacific is projected to grow at a significant CAGR of during 2016–2023 owing to augmenting demand from various end-user industries, especially the automotive sector.

The report also profiles the major companies active in this field, including Universal Robots (Teradyne Inc.), KUKA AG (Midea Group Co. Ltd.), FANUC Corporation, Robert Bosch GmbH, Rethink Robots, ABB, Precise Automation Inc., Yaskawa Electric Corporation, F&P Robotics AG, MABI Robotics, AUBO Robotics.
The global collaborative robots market is segmented on the basis of payload capacity, applications, industry and geography:
Global Collaborative Robots Market by Payload Capacity
•          Up to 5 Kg
•          Between 5 Kg to 10 Kg
•          Above 10 Kg
Global Collaborative Robots Market by Industry
•          Automotive
•          Food & Agriculture
•          Furniture & Equipment
•          Plastics & Polymer
•          Metals & Machining
•          Electronics
•          Healthcare
•          Others
Global Collaborative Robots Market by Applications
•          Pick & Place
•          Assembly
•          Machine Tending
•          Quality Inspection
•          Handling
•          Packaging & Palletizing
•          Gluing & Welding
•          Others
Global Collaborative Robots Market by Region
•          North America
•          Europe
•          Asia-Pacific
•          RoW
Countries with high growth opportunity for Global Colloborative Market Revenue Forecast, 2016-2021
•South Korea
Global Collaborative Robots Market Competitive Landscape
•          Major Players and their Market Share Analysis
•          New product launches
•          Mergers and acquisitions
•          Collaborations, partnerships, agreements and joint ventures

About GMI Research

GMI Research is a market research and consulting firm which provides research-based solutions to business executives and investment professionals so that they can make right business & investment decisions faster based on real facts. We help business leaders through independent fact-based insight, ensuring their business achieve success by beating the competition.

GMI Research leverages its industry expertise and experience to identify the industry trends, big opportunities and potential growth areas across industries. Our Syndicated reports provide actionable insights and covers industry trends, market drivers & restraints, macroeconomic factors, market estimates & forecasts, competitive landscape etc. which helps our clients to strengthen its market position by deploying specific strategies and actions that will lead to higher growth. 

Our Customized Research (Market Intelligence and Competitive Intelligence) Offerings

Our clients rely on us for the range of our services to give them the intelligence they need to act decisively. GMI Research offers in-depth market and competitive intelligence solutions by leveraging its industry knowledge and experience to provide accurate insights with a complete picture of the market and competition. To know more about our product offering click on the below link

Our Knowledge Services Solutions

GMI Research provides offshore market and competitive intelligence research services to companies worldwide.  We leverage our industry knowledge and research expertise gained through various research studies conducted across verticals which enables us to deliver high-level quality support to our clients. By engaging us, our clients can achieve substantial cost reductions by outsourcing non-core functions. As a result, it allows our clients to improve their productivity while managing their in-house resources intelligently.

Contact Sales Department:
Anuradha Sarangi
Tel: +353 1 442 8820

Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Phone: +353 1 442 8820
Address:Level 1, The Chase Carmanhall Road, Sandyford Industrial Estate
City: Dublin
Country: Ireland