Overview

The collaborative robots market is projected to grow at a CAGR of 54.22% during the forecast period. As per the collaborative robots market research report, the global market for collaborative robots is projected to grow swiftly by US$3538.46 million by 2023. According to analysts, advancements in machine learning as well as growing demand for cobots to perform various repetitive tasks will drive the market growth during the forecast period. The collaborative robots market research report offers a comprehensive analysis of the global collaborative robots market and its application, components, regions, type, vertical, and payload segments. The high deployment cost along with huge investment demand at the initial stage are the elements that could influence the collaborative robots market advancement throughout the forecast period. The collaborative robots market research report by expert analysts is developed to assist organizations in the collaborative robots market.

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Market Segmentation

The global collaborative robots market has been segmented based on application, components, regions, type, vertical, and payload. On the basis of application, the market for collaborative robots is segmented based on assembling, handling, machine testing, packaging and palettization, quality testing, welding and gluing, pick and place,  and others. Additionally, the market on the basis of components, is segmented into drives, end effectors, sensors, controllers, and others. The global market for collaborative robots is also covered based on type segment which is further split into hand guiding, power & force limiting, speed & separation, and safety monitored stop. On the basis of verticals, the market for collaborative robots is segmented based on aerospace, electronics & semiconductor, food & beverages, healthcare, manufacturing, metals & mining, automotive, and others. Additionally, the market on the basis of payload, is segmented into 5kg, 5kg to 10 kg, and above 10 kg.

Major elements such as technical complexities could obstruct the collaborative robots market growth. However, according to the collaborative robots market research report, implementation of artificial intelligence along with the growing trend for human-robot collaboration will propel growth throughout the forecast period. The collaborative robots market is set to register growth at a high CAGR owing to these key factors. The exploration of application, components, regions, type, vertical, and payload segments along with regional markets has been given in the global collaborative robots market research report. The research analysts studying the collaborative robots market have put out market forecasts in the collaborative robots market research report in order to support collaborative robots market-based companies. The collaborative robots market research report provides an extensive understanding of the collaborative robots market based on the information and forecasts till 2023.

Regional Overview

North America, Europe, Asia Pacific and the rest of the world regional market for collaborative robots are predominantly covered in the global collaborative robots market research report. Country-level collaborative robots markets spread across North America – the United States, Canada, and Mexico are also covered in the report. In South America – Brazil and other country-level collaborative robots markets are covered in the report. In Asia-Pacific (APAC) region, the country-level collaborative robots markets covered are Japan, India, China, and others. The collaborative robots market research report also explores the regional market for collaborative robots present in Europe in the United Kingdom, France, Italy, Spain, and Germany, etc. The collaborative robots market research report also covers regional markets from the rest of the world alongside collaborative robots markets of Africa and the Middle East.

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Competitive Landscape

Adoption of industry 4.0 standards is expected to drive the collaborative robots market growth worldwide. The global collaborative robots market could be challenged by budget restrictions among small and medium businesses, nevertheless, organizations in the collaborative robots market will carry the growth rate forward. The collaborative robots market research report presents company profiles of major companies active in the collaborative robots market globally. Furthermore, the global collaborative robots market report offers an all-inclusive analysis of the market collected from the collaborative robots market’s primary and secondary sources covering both decision makers and thought leaders. The collaborative robots market research report highlights such key areas assisting businesses operating in the collaborative robots market to build better growth strategies.

Industry News

South Korea's first ever thermal management module, integrated into EV drive and battery components has successfully been developed by HYUNDAI WIA. HYUNDAI WIA was the first company to create the 'Integrated Coolant Service Module' (ICSM), an electric vehicle heat management system. This module will be set on the Electric Modular Platform (E-GMP) of the Hyundai Motor Group, and mass production will be facilitated by 2023. This is confirmed on the Battery Electric Vehicle Group (BEV). In order to drive transformation of the company from power train parts to environment-friendly parts maker, HYUNDAI WIA aims to use this R&D achievement as a step forward.