The study is a professional probe into the revenue generated and capacity estimates for the Cobots market for the forecast period 2021 – 2028 empower the business owners to maintain a competitive edge over their rivals. The research further examines and provides data on the market by type, application and geography interspersed with illustrations and other graphical representations. The market analysis not only determines the attractiveness of the industry but also the evolving challenges and opportunities and their association with the weaknesses and strengths of prominent market leaders. Other factors taken into consideration when studying the industry include profitability, manufacturing capability, distribution channels and industry cost structure and major success factors.
cobots Market is expected to reach USD 9342.8 Million by 2027, according to a new report by Emergen Research. Cobots or Collaborative robots are revolutionizing the human-robot interactions in various end-user industries, including automotive manufacturing, electronics, food & beverage, plastics & polymers, furniture & equipment, healthcare, and logistics industries, among others. Cobots help by functioning side-by-side the human workforce, thereby reducing cost, time, and floor space when compared to traditional robots. Cobots find extensive usage in applications that require precision and helps in achieving a faster return on investment (ROI). For instance, the Franka Emika Panda cobot can perform its operations with a precision of 0.1 mm, as well as its does not stray from its activities and will continuously function with the specified constraints such as in case of the task associated screw tightening, cobots will always accomplish it with the identical pressure and tension ascertaining quality consistency.
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The benefits provided by cobots in the logistics industry is a significant factor driving the market demand. The growing pace of the e-commerce sector plays a crucial role in the demand for cobots to enhance efficiency while decreasing costs. In the warehouses, the human workforce doesn’t have to stride the routes for goods collections; thus, saving labor and time, along with mitigation of errors. From the customer point of view, it turns out to be faster delivery of goods, whereas, for workers, it results in shifting attention to other crucial responsibilities. In 2017, DHL Supply Chain made an announcement about the commencement of a pilot test with the LocusBots™ cobots. The firm conducted the pilot test within the facility of a firm dealing in life sciences in Tennessee.
Additionally, the report also gives an insight into product portfolios, costs, sales, production capacities, and market players. Raw materials, demand analysis, product flow, and distribution channels have been studied and surveyed extensively in this research report. The key growth trends and opportunities are offered through a thorough investigation and examination of the market. A detailed course of development is offered in the report along with insights into businesses connected with it, which include firms, industries, organizations, vendors, and local manufacturers.
Prominent Players Analyzed in the Report:
- FANUC, Aubo Robotics, Universal Robots, Yaskawa, KUKA, Techman Robot, Precise Automation, ABB, Rethink Robotics, and Doosan Robotics, among others.
The report offers a comprehensive breakdown of the regional analysis of the market and subsequent country-wise analysis. The regional analysis of the market comprises of production volume information, consumption volume and patterns, revenue, and growth rate for the forecast period of 2021-2028. According to the regional analysis, the market is primarily spread over key geographical regions as follows:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Highlights From The Report
- By payload, above 10 Kg payload capacity is estimated to grow at the fastest rate of 39.7% in the forecast period. 10kg payload cobots possess the capability to manage higher tasks with better precision, dependability, and consistency, as well as in the manufacturing process involving heavier weight.
- By application, dispensing is likely to witness the fastest growth rate of 39.2% in the forecast period. Dispensing robots are beneficial in decreasing human errors by restricting dependence on memory. In the healthcare sector, it can lessen the risk associated with medication errors provided other conditions are fulfilled, such as refilling. Further, cobots can provide prescriptions and efficiently run a pharmacy.
- By end-users, the automotive industry dominated the market in 2019. Flexibility is the most advantageous characteristic of a cobot. In the manufacturing sector, these are required to improve productivity in various operations. From the viewpoint of automotive manufacturers and suppliers, the flexibility offered by cobots allow them to be always prepared to cater to the rapidly changing consumer demand.
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The study segments the complete Cobots market on the basis of different application, end-use, end-user, and production capability. From a business standpoint, the industry has been thoroughly examined across various countries located in North America, Europe, Asia-Pacific, and others. The size of the industry for the forecast period 2021 – 2028 is evaluated on the basis of current sales figures and past financial report can be used to forecast the future sales.
Emergen Research has segmented the global Infection Control Market on the basis of payload capacity, application, end-users, and region:
- Payload Capacity Outlook (Revenue, USD Billion; 2017-2027)
-
- Less than 5 Kg
- 5 Kg to 10 Kg
- Above 10 Kg
- Application Outlook (Revenue, USD Billion; 2017-2027)
-
- Handling
- Assembling & Disassembling
- Dispensing
- Welding & Soldering
- Processing
- Others
- End Users Outlook (Revenue, USD Billion; 2017-2027)
-
- Automotive
- Electronics
- Plastics & Polymers
- Furniture & Equipment
- Metals & Machining
- Food & Beverages
- Healthcare
- Others
Overview of the Cobots Market Report:
- Introduction, Product Scope, Market Overview, and Opportunities
- Analysis of the Manufacturers with sales, revenue, and price analysis
- Comprehensive analysis of the competitive landscape
- Extensive profiling of the key competitors along with their business strategies and market size
- Regional analysis of the market along with sales, revenue, market share, and global position
- Country-wise analysis of the market along with types, applications, and manufacturing
- Strategic recommendations to established players as well as new entrants
- In-depth analysis of the risks, restraints, and limitations in the Cobots industry
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The report covers key points of the market, including the standards, regulations, and policy changes applied by the government on the industry for the coming years. The report encompasses thorough research carried out by the application of advanced analytical tools such as SWOT analysis and Porter’s Five Forces analysis to pinpoint the growth trends and patterns. Factors likely to influence the growth of the market, current trends, opportunities, restraining factors, and business landscape are discussed in-depth in the market study.
The research provides answers to the following key questions:
- What will be the size and the growth rate of the Cobots market for the forecast period 2021 – 2028?
- What are key drivers believed to shape the future of the market during the estimated period?
- What are the prominent industry players dominating the Cobots market during the forecast period?
- What are the major trends influencing the development of the industry?
- What are the key challenges likely to hinder the progress of the market?
- What are major opportunities and threats encountered by the business owners operating in the business vertical?
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