What Does the Historical and Current Collaborative Robots Market Size Trend Indicate?
The collaborative robots market has seen considerable growth due to a variety of factors.
• The market size for collaborative robots has seen significant growth lately. This sector is projected to expand from a value of $3.28 billion in 2024 to $4.23 billion by 2025, reflecting a compound annual growth rate (CAGR) of 28.9%.
The driving factors for this considerable growth during the historical period were robust economic expansion in emerging markets, increased labor costs, progression in the industrial sector, and a heightened demand for automation solutions.
How Will the Collaborative Robots Market Size Evolve over the Forecast Period?
The collaborative robots market is expected to maintain its strong growth trajectory in upcoming years.
• Significant expansion is projected in the collaborative robots market in the forthcoming years, with a projected worth of $12.31 billion by 2029 and a Compound Annual Growth Rate (CAGR) of 30.6%.
The predicted surge during this period can be linked to factors such as the growth in the automotive sector, an increase in e-commerce and logistics, along with rising urbanization. Key developments forecasted for this period include the merging of collaborative robots with emerging technologies, product novelty, emphasis on launching new products, key partnerships and collaborations, as well as an increase in investments.
What Are the Critical Driver Fuelling the Collaborative Robots Market's Growth?
The escalating expenses of labor are predicted to stimulate the expansion of the collaborative robots market. Labor costs encompass the total amount a firm has to bear for every employee's salary, benefits, along with related payroll taxes and benefits. Professionals in accounting and finance view labor costs as a major factor while calculating an enterprise's direct and indirect labor charges. The elevation in labor expenses would prompt the wider usage of collaborative robots due to their ability to lower labour costs and address escalating labor shortages. For instance, Eurostat, the statistical office of the European Union based in Luxembourg, reported that in the second quarter of 2024, hourly labor costs surged by 4.7% in the eurozone, and by 5.2% within the EU, compared to the same period in the previous year. Thus, the escalating labor expenses are driving the growth of the collaborative robots market.
What Key Areas Define The Segmentation Of The Global Collaborative Robots Market?
The collaborative robots market covered in this report is segmented –
1) By Component: Hardware, Software
2) By Payload Capacity: Up To 5kg, Up To 10kg, Above 10kg
3) By Application: Assembly, Pick And Place, Handling, Packaging, Quality Testing, Gluing And Welding, Other Applications
4) By Vertical: Automotive, Food And Beverage, Furniture, Plastic And Polymers, Metal And Machinery, Electronics, Pharmaceuticals, Other Verticals
Subsegments:
1) By Hardware: Robot Arms, End Effectors, Sensors, Controllers, Safety Systems
2) By Software: Robot Programming Software, Monitoring And Analytics Software, Integration Software, User Interfaces
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How Are Emerging Trends Reshaping The Dynamics Of The Collaborative Robots Market?
Product advancements are a significant trend escalating in the collaborative robot sector. Major players in this market are concentrating on creating novel technological solutions to fortify their standing. In a notable example from June 2022, Dobot, a robotics firm situated in China, unveiled their CRL collaborative robot. It boasts an impressive reach of 1700 mm, making it superbly suited for jobs requiring extended entry in compact areas. The CRL is proficient in tasks like loading, unloading, sorting, and inspecting diminutive components, particularly in the fields of consumer electronics and semiconductors. Belonging to the Dobot Cr series, the Cr3L is available in various iterations with different payload capacities, which range from 3 kg to 16 kg. This makes it appropriate for an extensive array of industrial applications, incorporating the automotive, food processing, garment production, and chemical segments.
Who Are the Key Players in the Collaborative Robots Market?
Major companies operating in the collaborative robots market include:
• Teradyne
• Fanuc Corporation
• KUKA AG
• Denso Corporation
• ABB Group,Mitsubishi Electric
• Yaskawa Electric Corporation
• Doosan
• Kawasaki Heavy Industries
• Omron Corporation
• HASCO
• AUBO
• Jaka Robotics
• United Robotics Group GmbH
• Melior Motion GmbH
• Kassow Robots ApS
• Schaeffler Technologies AG & Co. KG
• Universal Robots
• OnRobot
• Kinova
• CodeNinja
• Apollo Solutions Dev
• ViaObjects
• VR4
• Consensus group
• ITPS ONE
• Optimusrobo FZCO
• Unique World Robotics
• Seed Robotics
• Neo Robotics
• GLITZ Robotics
• Cobots
• Zipline
• TIRA ROBOTS
• Ryonic Robotics
• Arone
What Is The Most Dominant Region In The Collaborative Robots Market?
Asia-Pacific was the largest region in the collaborative robots market in 2024. The regions covered in the collaborative robots market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
