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Mobile Collaborative Robots Market Research Report: By Offering, Payload, Application, End User -Global Industry Analysis and Growth Forecast to 2030

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Mobile Collaborative Robots Market Research Report: By Offering (Hardware, Software, Services), Payload (10 Kg), Application (Pick & Place, Material Handling, Welding, Machine Tending, Assembling), End User (Automotive, Agriculture, Retail, Mining & Mineral, Manufacturing, Aerospace & Defense, Healthcare, Electronics)-Global Industry Analysis and Growth Forecast to 2030

New York, Nov. 05, 2020 (GLOBE NEWSWIRE) -- announces the release of the report "Mobile Collaborative Robots Market Research Report: By Offering, Payload, Application, End User -Global Industry Analysis and Growth Forecast to 2030" -

The industrial is growing swiftly and is undergoing several changes. Due to technological advancements, an increased number of machineries are now being utilized in industries. While before, manual labor was an important part of the industrial sector, it is being replaced now by advanced machines that can do the work more efficiently. Despite the positive implications of such advancements, the processes in industries are becoming more and more complex, which, in turn, is creating need for automation solutions in these facilities. Because of all this, industries have now started making use of mobile collaborative robots.
As per a report , the global mobile collaborative robots market is predicted to attain a revenue of $6.8 billion in 2030, increasing from $543.3 million in 2019, and is expected to exhibit a 26.3% CAGR during the forecast period (2020–2030). Also known as mobile cobots, mobile collaborative robots have become an important part of factories. These robots are designed to work alongside humans and utilize innovative visual technology. They are further integrated with sensors which allow them to detect people and change or stop their activity. This way, the safety of humans in the workplace is ensured.
The major offerings that are included under the mobile collaborative robot technology are services, hardware, including motor, sensor, end effector, and robotic arm, and software. Among these, the demand for hardware components has been the highest up till now, which can be ascribed to the growing adoption of mobile cobots in the automotive industry. Out of different hardware components, the demand for robotic arm has been the highest, since they are being extensively used in material handling applications. Other than this, the demand for services is also predicted to rise considerably in the near future.
These robots are used for different applications, namely assembling, machine tending, pick & place, welding, and material handling. A substantial demand for mobile cobots is projected to be created for assembling applications in the years to come. These robots reduce the time needed for assembly considerably, thereby increasing productivity, which is why various industries are deploying mobile cobots. These robots are being utilized in electronics, healthcare, aerospace & defense, manufacturing, mining & minerals, retail, automotive, and agricultural sectors. Out of these, the electronics sector is expected to make considerable use of mobile collaborative robots in the near future.
This is because of the growing need for increasing productivity and performing repetitive tasks in the electronics sector. Geographically, Asia-Pacific (APAC) dominated the mobile collaborative robots market in the past, and the demand for these devices is further projected to be the highest in the region in the years to come as well. This is due to the increasing disposable of people and the rising population, which are leading to the growth of the electronics industry in APAC. Within the region, Japan and China are creating the largest demand for mobile cobots.
In conclusion, the demand for mobile collaborative robots is growing due to the rising need for automated solutions in industries.
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