Collaborative robots, commonly known as cobots, are designed to work safely alongside humans by combining human flexibility and dexterity with robotic efficiency in applications ranging from assembly and quality testing to packaging and pick-and-place tasks. The collaborative robots market has been gaining immense popularity due to their ability to automate routine tasks and reduce repetitive stress injuries in industrial settings. Cobots can improve productivity while enhancing workplace safety. The growing preference for automation to minimize labor and maximize operational efficiency across industries like automotive, food & beverages, and electronics is a key factor driving the demand for collaborative robots.
The global Collaborative Robot Market is estimated to be valued at US$ 1332.59 Bn in 2024 and is expected to exhibit a CAGR of 10.% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Collaborative robot deployment has been accelerating due to their ability to automate repetitive tasks and enhance workplace safety. The development of advanced robot controllers and intuitive programming interfaces has enabled faster and easier integration of cobots for routine production processes. Their compact design allows collaborative robots to operate safely in relatively small workspaces alongside human workers. The continuing reduction in cobots price points is further spurring their adoption across small and medium enterprises. With collaborative robots playing a pivotal role in factory automation by freeing up human operators for more value-added tasks, their market size is anticipated to experience substantial growth over the forecast period.
Segment Analysis
The global Collaborative Robot Market is dominated by the safety-rated collaborative robot sub segment. Safety-rated collaborative robots dominated nearly 60% of the overall market in 2024 due to extensive usage of collaborative robots for material handling, quality inspection, assembly line automation and product testing especially in small & medium scale industries. These robots work alongside humans without the need for safety infrastructures like fences and are therefore highly adopted for applications requiring human-robot collaboration.
Key Takeaways
The global Collaborative Robot market analysis is expected to witness high growth. The market size is projected to grow from US$ 1332.59 Bn in 2024 to US$ 2541.98 Bn by 2031, registering a CAGR of 10.% during the forecast period.
Regional analysis:
The Asia Pacific region dominated the global collaborative robot market in 2024 and is expected to maintain its dominance during the forecast period. This is attributed to vast adoption of collaborative robots in various industries including automotive, electronics, food & beverages and plastics in countries like China, Japan, South Korea and India. The presence of a large number of small & medium enterprises adopting automation to enhance productivity also drives the market growth in Asia Pacific.
Key players
operating in the Collaborative Robot market are Cardinal Health, Inc., Stryker Corporation, Karl Storz GmbH & Co. Kg, Zimmer Biomet Holdings, Inc., Baxter International Inc., Becton, Dickinson and Company, Angiodynamics, Inc., Hologic, Inc., Ecolab Inc., Olympus Corporation, Medtronic PLC, Fresenius Medical Care AG & Co. KGaA, B. Braun Melsungen AG, Johnson & Johnson, and Smiths Group PLC.
Get more insights on this topic: https://www.newswirestats.com/collaborative-robot-market-industry-insights-trends-collaborative-robot-market/
Explore more information on this topic, Please visit: https://whotimes.com/beyond-dna-exploring-the-frontier-of-creation-through-the-lens-of-synthetic-biology/
Comments
0 comment