The global collaborative robot or cobot market is expected to reach USD 13.5 billion by 2027, growing at a CAGR of 50.0% during the forecast period. Currently, more than 40% of the market is captured by the less than 5 kg payload capacity cobots. However, these is immense rise in the demand for high-payload-capacity cobots in automotive, metal & mining, and other large-scale industries will bring numerous new opportunities in the cobots market.
Automotive segment held the largest share in the collaborative robot or cobot market in 2019
On the basis of end-user, the market is segmented as automotive, electrical & electronics, metals & mining, plastics & polymers, food & beverages, pharmaceuticals & healthcare and Others. Automotive segment is expected to account the highest market share in current year and is expected to grow at fastest rate with numerous applications of cobots.
Geographically, APAC, is the largest and fastest growing collaborative robot market surpassing Europe in last two years. Industrial revolution in China, Japan, India and other South-East Asian countries has increased robotics integration in various applications. Further, government and private firm investments in these countries will further up surge the growth of the collaborative robot market in years to come.
Some of the key players operating in the collaborative robot market are ABB Ltd., Universal Robots, Rethink Robotics, Kuka AG, Fanuc Corporation, Yaskawa Electric Corporation, Mrk-Systeme GmbH, Precise Automation, Inc., F&P Robotics AG, and Franka Emika GmbH.
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The report provides the market value for the base year 2020 and a yearly forecast till 2027 in terms of revenue (USD Million). The report segments the global collaborative robot or cobot market on the basis of payload capacity, component, application, end-user, and region.
Global Collaborative Robot or Cobot Market Coverage
Payload Capacity Insight and Forecast 2015 – 2027
Component Insight and Forecast 2015 – 2027
Application Insight and Forecast 2015 – 2027
End-User Insight and Forecast 2015 – 2027
Collaborative Robot or Cobot Market by Region
Rest of the World (RoW)