Collaborative Robots Market Size, Share, Forecast, & Trends Analysis by Type, Component (Hardware, Software), Payload, Application (Material Handling, Welding & Soldering, Assembling and Disassembling), and End-use Industry (Oil & Gas, Automotive, Food & Beverage, Others) -Global Forecast to 2031

Collaborative Robots Market Size & Forecast

The Collaborative Robots Market is expected to reach $2.9 billion by 2031, at a CAGR of 8.7% from 2024 to 2031.

The growth of this market is driven by the advancements in human-machine interface, government initiatives to promote industrial automation, and affordability and ease of programming. Furthermore, the increased demand for collaborative robots in the e-commerce and logistics sectors, increasing non-manufacturing applications of collaborative robots, and decreasing collaborative robot prices are expected to create market growth opportunities during the forecast period.

However, the lack of proper training and skill and lack of capabilities related to faster cycle time and repeatability restrains the growth of this market. Also, the need for fine dexterity in collaborative robots and safety and security issues are major challenges for the players in this market. Furthermore, the advancements in artificial intelligence and industry 4.0 and collaborative robots with integrated vision systems are key trends in the collaborative robots market.

Collaborative Robots Market Growth Drivers

Advancements in Human-machine Interface

Automation has become an important strategy of various large-scale industries to increase production efficiency and decrease costs. As more and more companies are moving toward automation, the application of collaborative robots is increasing in manufacturing technology. Various manufacturing industries such as automotive, electronics and semiconductors, and metal and machinery are deploying collaborative robots for assembly line processes, pick and place, injection molding, and quality check applications.

The existing human-machine interface technology is rapidly evolving due to the introduction of touchscreen technology in smartphones. The current trend of a human-machine interface is moving toward bigger screens, higher resolution, and remote monitoring by robotic operators to understand the environment through HMI screens integrated with control panels available in widescreen formats. Another ongoing trend for HMI is to provide additional functions using advanced processors and connectivity within the plants. Most HMIs use IoT (Internet of Things), visual basic, and .net programming to connect with an operating system and extract information directly from the operating system using a file transfer protocol server. The smart HMI uses these advanced technologies to help improve how robotic operators interact with the machines. The smart HMI will reduce the complexity of design, increasing ease of use for operators. The remote monitoring feature will allow the operator to monitor robots from any location through HMI and reduce supervision time. Such factors help boost the growth of the collaborative robots market.

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Government Initiatives to Promote Industrial Automation

Major economies across the globe are implementing Industry 4.0 technologies, including IoT, artificial intelligence, robotics, cloud, and analytics, to transition to smart manufacturing. Therefore, governments worldwide are encouraging the adoption of disruptive technologies to promote industrial automation. Initiatives such as tax benefits, R&D investments, and the organization of promotional ventures & platforms are some of the several steps taken by governments worldwide to promote Industry 4.0 technologies.

Considering the potential of industrial automation, governments are increasingly adopting the technologies for various applications. The Indian government has undertaken numerous initiatives, such as Digital India, Make in India, and smart city projects, stimulating the adoption of emerging technologies. These initiatives have encouraged several organizations to develop innovative and advanced technology-enabled solutions for commercial and industrial applications, driving the growth of the collaborative robots market.

Apart from policy charting, governments across the globe have also announced investments in Industry 4.0 systems. In December 2023, South Korea's industry ministry announced plans to invest (3 trillion Won) USD 2.3 billion in the private sector by 2030 to bolster the competitiveness of the local robot industry. The move comes in line with the government's efforts to adopt robot technologies in emerging industries, including space and aviation, as well as traditional manufacturing sectors, according to the Ministry of Trade, Industry and Energy. Similarly, in October 2021, the Thailand Board of Investment (BOI) approved incentives to encourage companies to speed up their Industry 4.0 transformation. Such government initiatives are expected to propel the growth of this market.

Collaborative Robots Market Growth Opportunity

Increased Demand of Collaborative Robots in E-commerce and Logistics Sectors

Collaborative robots, or cobots, have shown great potential in transforming logistics operations across various industries. Many companies have successfully integrated cobots into their workflows, improving efficiency, safety, and cost-effectiveness. By leveraging cobots, businesses can adapt to changing market demands, scale their operations, and gain a competitive edge.

The rapid growth of e-commerce has brought about tremendous changes and challenges in the warehouses that serve its needs. Cobots collaborative robots can be used in e-commerce warehouses for the following tasks: Automatic picking. Automatic sorting, forming, case packing, and erecting (box, bag, envelope, crate, etc.)

Several players operating in the e-commerce market are taking strategic initiatives to deploy robots in e-commerce operations. For instance , in September 2023, Otto Group (Germany), one of the world’s largest e-commerce retailers, signed an agreement with Boston Dynamics, Inc. (U.S.), an engineering and robotics design company, to help strengthen its logistics operations. Otto Group will deploy Spot robots in more than 10 facilities and Stretch robots in more than 20 over the next two years. Therefore, increased demand for collaborative robots in the e-commerce and logistics sectors to optimize supply chains by increasing their speed, accuracy, and flexibility is expected to provide opportunities for market growth.

Collaborative Robots Market Growth Challenges

Safety and Security Issues

The rise of collaborative robots in modern manufacturing brings about cybersecurity concerns. These sophisticated machines, integrated with advanced sensors and AI, work alongside humans in shared spaces, posing risks. Unauthorized access to sensitive data in cobots can lead to intellectual property theft and operational disruptions. In contrast, cyber attackers manipulating cobot programming can cause product and equipment damage and physical harm to workers.

Moreover, disabling safety mechanisms through cyberattacks exposes workers to injury risks. To safeguard human labor in collaborative environments, comprehensive cybersecurity strategies are imperative. This entails regular software updates, encryption methods, and continuous monitoring for swift responses to potential breaches. Therefore, safety and security issues associated with collaborative robots that cause intellectual property loss, production delays, and possible physical damage are challenges for market growth.

Collaborative Robots Market Analysis: Key Findings

By Type: In 2024, the Speed and Separation Collaborative Robots Segment to Dominate the Collaborative Robots Market

Based on type, the collaborative robots market is segmented into power and force limiting collaborative robots, safety monitored stop collaborative robots, speed and separation collaborative robots, and hand guiding collaborative robots. In 2024, the speed and separation collaborative robots segment is expected to account for the largest share of the collaborative robots market. The large market share of this segment is mainly attributed to its main functions, such as advanced vision systems, safeguarding the operator in collaborative robot applications by maintaining a certain minimum separation distance during operation, and utilizing a traditional industrial robot combined with various safety sensors to detect when a human enters into the robot’s work envelope.

By Component: In 2024, the Hardware Segment to Dominate the Collaborative Robots Market

Based on component, the collaborative robots market is segmented into hardware and software. The hardware segment is sub-segmented into robotic arms, end of arm tooling (EOAT) devices, drives, controllers, and sensors. In 2024, the hardware segment is expected to account for the largest share of over 62% of the collaborative robots market. This segment’s large market share is attributed to the increasing demand for collaborative robots for various applications, and advancements in the hardware components such as EOAT, tool changers, vision systems, motors, controllers, and power supply have led to improved accuracy, efficiency, and payload capacity of collaborative robots.

By Payload: In 2024, the 5 Kg to 10 Kg Payload Segment to Dominate the Collaborative Robots Market

Based on payload, the collaborative robots market is segmented into up to 5 Kg payload, 5 Kg to 10 Kg payload, and more than 10 Kg payload. In 2024, the 5 Kg to 10 Kg payload segment is expected to account for the largest share of the collaborative robots market. The large market share of this segment is mainly attributed to the payload collaborative robots being equipped with a built-in force-torque sensor to ensure the safety of the workers. It is designed to perform medium-duty applications with ultimate flexibility.

By Application: In 2024, the Material Handling Segment to Dominate the Collaborative Robots Market

Based on application, the collaborative robots market is segmented into material handling, welding & soldering, assembling and disassembling, machine tending, dispensing, processing, inspection, and other applications. In 2024, the material handling segment is expected to account for the largest share of the collaborative robots market. The large market share of this segment is mainly attributed to factors such as increasing production efficiency, high speed and accuracy of operations, low maintenance cost, speed and strength of material handling, and compact design of robots. Moreover, material handling is a major application in various end-use industries such as automotive, electronics, metals, and machinery.

By End-use Industry: In 2024, the Automotive and Transportation Segment to Dominate the Collaborative Robots Market

Based on end-use industry, the collaborative robots market is segmented into automotive and transportation, electrical & electronics, metal & machinery, plastic & chemicals, oil & gas, food & beverage, aerospace & defense, biotechnology, healthcare, and other end-use industries. In 2024, the automotive and transportation segment is expected to account for the largest share of over 22% of the collaborative robots market. The large market share of this segment is mainly attributed to the benefits offered by collaborative robots in the automotive industry, such as cost-effectiveness, higher efficiency, safety, and speed & precision. Also, using collaborative robots allows car and automotive component makers to accelerate production, reduce costs, improve quality, and ensure workers' safety.

Geographical Analysis

In 2024, Asia-Pacific is expected to account for the largest share of the Collaborative Robots Market, followed by Europe, North America, Latin America, and the Middle East & Africa. The Asia-Pacific region is expected to account for the largest market share of over 54% during the forecast period, owing to the presence of large-scale manufacturing industries in the region, especially in the automotive, electronics, and metal and machinery sectors. Furthermore, the demand for collaborative robots has significantly increased due to the growing need for automation in diverse industries such as food and beverages and healthcare. Also, the declining cost of collaborative robots and a shortage of skilled labor are contributing to the growth of the region.

Collaborative Robots Market: Key Companies

The report offers a competitive analysis based on an extensive assessment of the leading players’ product portfolios, geographic presence, and key growth strategies adopted in the last three to four years. Some of the key players operating in the collaborative robots market are Universal Robots A/S (Denmark), Rethink Robots GmbH (Germany), ABB Ltd (Switzerland), Fanuc Corporation (Japan), KUKA AG (Germany), Yaskawa Electric Corporation (Japan), Kawasaki Heavy Industries, Ltd. (Japan), Robert Bosch Manufacturing Solutions GmbH (Germany), Stäubli International AG (Switzerland), F&P Robotics AG (Switzerland), Techman Robot Inc. (Taiwan), Precise Automation Inc. (Taiwan), Doosan Robotics Inc. (South Korea), MABI Robotic AG (Switzerland), Energid Technologies Corporation (U.S.), AUBO Robotics USA (U.S.), and TechMan Robot Inc. (Taiwan).

Collaborative Robots Industry Overview: Latest Developments from Key Industry Players

• In February  2024, OMRON Automation (Japan) introduced TM S Series collaborative robots in its robotics portfolio in India. This latest addition to OMRON’s innovative lineup combines faster joints and expanded safety features, making it an ideal solution to improve the efficiency of factories in workspaces shared with people.

• In November  2023, Universal Robots (Denmark), a manufacturer of collaborative robots, announced the expansion of their product portfolio with a new 30 Kg payload cobot.

• In March 2023, Dobot (China), a leading manufacturer of collaborative robots, launched the DOBOT Magician E6, a desktop 6-axis collaborative robot specifically designed for education and research at the Bett Show in London.
• In February 2023, Rapid Robotics (U.S.) partnered with Universal Robots (Denmark) in an effort to provide North American manufacturers with fast and flexible automation.
• In October 2022, Legacy Supply Chain (U.S.) announced the deployment of advanced automation technology from 6 River Systems, which consists of collaborative robots, or cobots, that help optimize fulfillment operations, support labor productivity, and increase order volume throughput.

Collaborative Robots Market Research Summary

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