The global collaborative robot market was valued at USD 573.12 million in 2019, and it is expected to reach USD 1,617.55 million by 2025, registering a CAGR of 23.06%, during 2020-2025

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Collaborative robots, or cobots, are used in direct collaboration with humans to accomplish various tasks. The declining cost and the high return on investment offered by the robots are expected to create a positive impact on the market.

New York, Nov. 18, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Collaborative Robot Market - Growth, Trends, Forecasts (2020 - 2025)" - https://www.reportlinker.com/p05986873/?utm_source=GNW


- The industries using robots face constant pressure, primarily to reduce operating costs while increasing productivity and maintaining the required quality levels. For instance, in March 2020, Yaskawa launched the HC20XP Human-Collaborative Robot. It features precise hand-guided teaching for the fast implementation of a robot system. The new 20 kg payload collaborative robot is suited for applications where the robots are needed to safely work with or in close proximity to humans. The industry’s first IP67-rated collaborative robot is equipped for continuous use in damp or splash-prone environments.
- The collaborative robots in the market are also becoming more affordable, easier to use, and less complex for training purposes. This will primarily offer multiple options to organizations, which will increase the drive and the demand for these robots. Collaborative robots enable industries of all sizes and scales to stay competitive as these robots use the latest sensors, plug and play technologies, and automatic robot programming from CAD data.
- Companies are adopting these robots to increase efficiency in their process. For instance, Tomenson Machine Works adopted automation for its pin stamping application primarily to improve profitability, quality, and worker satisfaction. The company adopted an OnRobot RG6 gripper and Universal Robots UR3 cobot arm which can handle dozens of part sizes and is being used for potential applications such as deburring, machine tending, and packaging.
- Furthermore, vendors in the market are also active in mergers and acquisitions. For instance, in Apr 2020, HAHN Group, an automation firm, acquired DAHL Automation, which is a robotics integrator which focuses on collaborative robot arms. With this acquisition the company will expand its presence in the intralogistics and autonomous mobile robots.
- As the world is continuously fighting the rapid spread of the COVID-19 pandemic, robotics and automation are playing a very crucial role in helping to safeguard the people and in processing the supplies that people need as they are shifting towards remote working and home learning. The robots are helping in disinfecting the hospitals. Autonomous deliveries from the robots are bringing the supplies to people as they are adopting social distancing. Moreover, automated workstations are speeding up the work of pharmaceutical companies.

Key Market Trends
Increasing Demand for Automation in Various Industrial Processes will Drive the Market

- Automation solutions can drive down the cost of deliveries dramatically. Supported by this are the robot innovations that are taking place, allowing the enterprises in various industries to operate autonomously, with augmented human capability and capacity.
- Longer training and onboarding, increasing benefits and compensation rates, and labor shortages are significant factors driving the deployment. More and more warehousing, distribution, and fulfillment facilities are investing in automated solutions. As technology improves and the applications become wider and more flexible, robotics is being adopted by a more significant number of manufacturing operations across regions.
- Robots play a crucial role in industrial automation, with many core operations in industries being managed by them. Robots can take up complicated, repetitive tasks with accuracy, even in hazardous environments. For this very reason, they have been employed in manufacturing units across most of the industries. According to a study by UiPath, over 88% of the organizations believe that automation will accelerate human achievement and effective when it complements humans.
- Industrial robots used in the automotive industry are more efficient and utilized cost-effectively, owing to their new levels of speed, accuracy, precision, flexibility, and agility. The complexity of manufacturing passenger cars has increased over the past ten years. This has led to automation solutions robots’ usage for a substantial proportion of the production processes these days.

North America to Hold a Significant Market Share

- The North American region is among the leading innovators and pioneers in terms of the adoption of robotics and is one of the largest markets. The primary reason for the growth of the market is the increasing adoption of these collaborative robots across numerous industries.
- Moreover, there has been significant adoption of robotic surgery in the United States. The annual procedure volume for robotic surgery is greater than 5,00,000 in the United States. In order to build brand image and competitive advantage, robotic surgery has become the most rapidly adopted medical device over the past two decades. This is likely to fuel the need for robots in the medical and healthcare sector in the region.
- The primary driver for the growth of robots in the region is the manufacturing industries in the United States that are currently under the ongoing trend to automate their production processes, in order to strengthen the US industries in both domestic and international markets.
- The government in the region is also encouraging the adoption of robotics by taking initiatives to support the development of modern technologies in the robotics market. For instance, the US Federal Government has commenced a program called the National Robotics Initiative (NRI) to bolster the capabilities of building domestic robots in the country and encourage the research activities in the field.
- The increasing investments by the National Science Foundation (NSF) are also augmenting the collaborative robot market in the region. To support novel technologies like robotics, the NSF invested USD 700,000 to USD 1 million in 21 projects in three-year durations. The NSF program proliferates collaborations with industries to assess lab-created technologies.

Competitive Landscape
The collaborative robot market is moderately competitive and companies focus on innovation to remain competitive in the market. Furthermore, acquisitions and collaboration of large companies with startups are expected. Some of the recent developments in the market are:
- April 2020 - ABB Ltd. launched a block-based programming interface called “Wizard Easy Programming” to make programming its single-arm YuMi cobot more intuitive. The company also said their goal is to make its cobots easier to install for those without programming expertise, which helps reduce the barrier to entry.
- March 2020 - Universal Robots launched UR+ application kits to simplify the deployment of Cobots that removes the barriers to industrial automation for various small, medium, and large companies and launched new solutions at MODEX 2020 which showcased the usage of cobots to automate hard-to-staffpalletizing and piece-picking tasks.

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