Outlook on the Collaborative Robot (COBOT) Global Market to 2026 - Featuring Teradyne, Fanuc, ABB and KUKA Among Others

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Dublin, July 19, 2022 (GLOBE NEWSWIRE) -- The "Global Collaborative Robot (COBOT) Market: Analysis By Payload Capacity, By End User, By Application, By Region Size and Trends with Impact of COVID-19 and Forecast up to 2026" report has been added to ResearchAndMarkets.com's offering.

The global collaborative robot market was valued at US$894.60 million in 2021. The market is projected to reach US$3.21 billion by 2026.

A collaborative robot is a machine that works in conjunction with humans, such as by serving as a guide or assistant during a task or activity. In contrast to autonomous robots, which function mostly independently and without supervision, collaborative robots are designed and built to respond to human commands and actions. In order to ensure safe behavior, cobots are typically made to be lightweight and fitted with sensors.

Automation helps in increasing productivity, improving quality and reducing errors. Rising demand for automation has rapidly increased the adoption of robots in various industries. The growing demand for automation in industries and smart factories would drive the market growth. The collaborative robot market is expected to grow at a CAGR of 27.10% over the forecast period 2022 to 2026.

Global Collaborative Robot Market Dynamics:

Growth drivers: The market has been growing over the past few years, due to factors such as rise of smart factories, growing electronics industry, working force moving toward tertiary industry, rising labor wage in manufacturing, growth in the automotive industry, rise in use of cobots by SMEs, etc. The number of smart factories has been growing quickly, since they cut costs and production process time. Robots and automation tools are everywhere in these smart factories. In the production process of smart factories, collaborative robots are crucial. Intelligent automation made possible by collaborative robots enables for the creation of safer, more effective workplaces where interaction between machines and people ensures that each of their individual qualities and skills are fully utilized.

Challenges: However, the market has been confronted with some challenges specifically, cyber security issues, speed issue, etc. Cyber security has become a serious issue to collaborative robot users. Since robots may acquire and keep a tremendous amount of personal information, therefore the risk of data breaches is increased. Robots may be the target of cyber or hacking assaults. A collaborative robot could manufacture components incorrectly if a hacker takes control of it. The manufacturer would be at risk of not being able to use whatever it is now developing in the future, which would result in huge losses. Further, more speed issue of collaborative robot would restrain the growth of the market.

Trends: The market is projected to grow at a fast pace during the forecast period, due to various latest trends such as advancements in robotics, 5G network exposure, end of arm tooling (EOAT), etc. New technologies are introduced to the collaborative robots so that cobots can perform difficult tasks. Artificial intelligence software combined with vision and other sensory technology allows robots to perform challenging tasks. Due new advancements adoption of collaborative robot is growing in the automotive sector. Moreover, 5G network brings up new opportunities for high-tech warehouses and industrial plants, where collaborative robots coexist with other cutting-edge technologies. The market would see a notable factors due to these factors.

Impact Analysis of COVID-19 and Way Forward:

People all throughout the world have been impacted financially and psychologically by the COVID-19 pandemic. Lockdowns and severe restrictions on air and land transport were implemented by Governments everywhere. Many governments were unable to control the virus despite the stringent limitations, leading to a high fatality rate in their respective nations. Till the end of 2019, the collaborative robot market growth trend was positive.

However, the COVID-19 outbreak further restricted market expansion and investment in collaborative robots, which was expected to increase in 2020 but the market could not perform well due to the pandemic. This may also be explained by the fact that the largest original equipment manufacturer for collaborative robot was particularly heavily struck by the pandemic, which only exacerbated the issues for suppliers and manufacturers of collaborative robots at the time.

In spite of COVID-19's effects and uncertainties, merger and acquisition (M&A) activity in the robotics industry persisted in the first half of 2021. Due to the intense competition and businesses' desire to diversify their portfolios, a number of deals took place during that period. Moreover, the technological developments brought after COVID-19 outbreak is expected to assist the market growth further.

Competitive Landscape:

The key players of the global collaborative robot market are:

• Teradyne Inc. (Universal Robot)

• Fanuc Corporation

• ABB Group

• KUKA Group

• Yaskawa Electric Corporation

• Kawasaki Heavy Industries

• Mitsubishi Electric Corporation

• Denso Corporation (DENSO Robotics)

• Omron Corporation

• Quanta Storage Inc. (Techman Robotics)

• HAHN Group (Rethink Robotics)

• Doosan Group

• AUBO Robotics

• F&P Robotics AG

The global colborative robot market is fragmented. However, the market is concentrated in China with the presence of several domestic and global players such as AUBO, Elite, Han's, Universal Robot, etc. AUBO dominated the market in China, which is a domestic player in China. Among the global players Universal robot recorded the highest share in China. Universal Robots lead the global market with more than 40% share in terms of installation as of 2021.

Key Topics Covered:

1. Executive Summary

2. Introduction

3. Global Market Analysis
3.1 Global Collaborative Robot Market: An Analysis
3.1.1 Global Collaborative Robot Market by Value
3.1.2 Global Collaborative Robot Market by Payload Capacity (Up to 5 kg, 6-10 kg and 11 kg and above)
3.1.3 Global Collaborative Robot Market by End User (Automotive, Food & Beverage, electronics, Plastic & Polymer and Others)
3.1.4 Global Collaborative Robot Market by Region (Asia Pacific, North America, Europe, Middle East & Africa, Latin America)
3.1.5 Global Collaborative Robot Market by Volume
3.1.6 Global Collaborative Robot Market Volume by Application (Material handling, Assembly, Pick & Place, Testing, Welding, Sorting, Positioning and Others)
3.2 Global Collaborative Robot Market: Payload Capacity Analysis
3.2.1 Global Collaborative Robot of Up to 5 kg Market by Value
3.2.2 Global Collaborative Robot of 6-10 kg Market by Value
3.2.3 Global Collaborative Robot of 11 kg and Above Market by Value
3.3 Global Collaborative Robot Market: End User Analysis
3.3.1 Global Automotive Collaborative Robot Market by Value
3.3.2 Global Food and Beverages Collaborative Robot Market by Value
3.3.3 Global Electronics Collaborative Robot Market by Value
3.3.4 Global Plastics & Polymer Collaborative Robot Market by Value
3.3.5 Global Others Collaborative Robot Market by Value
3.4 Global Collaborative Robot Market: Application Analysis
3.4.1 Global Welding Collaborative Robot Market by Volume
3.4.2 Global Material Handling Collaborative Robot Market by Volume
3.4.3 Global Positioning Collaborative Robot Market by Volume
3.4.4 Global Testing Collaborative Robot Market by Volume
3.4.5 Global Sorting Collaborative Robot Market by Volume
3.4.6 Global Assembly Collaborative Robot Market by Volume
3.4.7 Global Pick & Place Collaborative Robot Market by Volume
3.4.8 Global Others Collaborative Robot Market by Volume

4. Regional Market Analysis
4.1 Asia-Pacific Collaborative Robot Market: An Analysis
4.1.1 Asia Pacific Collaborative Robot Market by Value
4.1.2 Asia Pacific Collaborative Robot Market Value by Region (China, Japan, Korea Republic, India and Rest of Asia-Pacific)
4.1.3 China Collaborative Robot Market by Value
4.1.4 Japan Collaborative Robot Market by Value
4.1.5 Korea Republic Collaborative Robot Market by Value
4.1.6 India Collaborative Robot Market by Value
4.1.7 Rest of Asia Pacific Collaborative Robot Market by Value
4.2 North America Collaborative Robot Market: An Analysis
4.2.1 North America Collaborative Robot Market by Value
4.2.2 North America Collaborative Robot Market by Region North America (The US, Canada, & Mexico)
4.2.3 The US Collaborative Robot Market by Value
4.2.4 Canada Collaborative Robot Market by Value
4.2.5 Mexico Collaborative Robot Market by Value
4.3 Europe Collaborative Robot Market: An Analysis
4.3.1 Europe Collaborative Robot Market by Value
4.3.2 Europe Collaborative Robot Market Value by Region Europe (Germany, Italy, France, Spain, UK and Rest of Europe)
4.3.3 Germany Collaborative Robot Market by Value
4.3.4 Italy Collaborative Robot Market by Value
4.3.5 France Collaborative Robot Market by Value
4.3.6 UK Collaborative Robot Market by Value
4.3.7 Spain Collaborative Robot Market by Value
4.3.8 Rest of Europe Collaborative Robot Market by Value
4.4 Middle East & Africa Collaborative Robot Market: An Analysis
4.4.1 Middle East & Africa Collaborative Robot Market by Value
4.5 Latin America Collaborative Robot Market: An Analysis
4.5.1 Latin America Collaborative Robot Market by Value

5. Impact of COVID-19
5.1 Impact of COVID-19 on Global Collaborative Robot Market
5.2 Post COVID-19 Impact on Global Collaborative Robot Market

6. Market Dynamics
6.1 Growth Drivers
6.1.1 Rise Of Smart Factories
6.1.2 Growing Electronics Industry
6.1.3 Working Force Moving Toward Tertiary Industry
6.1.4 Rising Labor Wage In Manufacturing
6.1.5 Growth In The Automotive Industry
6.1.6 Rise in Use of COBOTS by SMEs
6.2 Challenges
6.2.1 Cyber Security Issues
6.2.2 Speed Issue
6.3 Market Trends
6.3.1 Advancements in Robotics
6.3.2 5G Network Exposure
6.3.3 End of Arm Tooling (EOAT)

7. Competitive Landscape
7.1 Global Collaborative Robot Market Players by Focus Product Lines and Application
7.2 Global Collaborative Robot Market Players by New Launched Cobot Series
7.3 China Collaborative Robot Players by Market Share
7.3.1 China Collaborative Robot Players by Market Share

8. Company Profiles
8.1 Teradyne, Inc. (Universal Robot)
8.1.1 Business Overview
8.1.2 Operating Segments
8.1.3 Business Strategy
8.2 Fanuc Corporation
8.2.1 Business Overview
8.2.2 Sales by Business
8.2.3 Business Strategy
8.3 ABB Group
8.3.1 Business Overview
8.3.2 Operating Businesses
8.3.3 Business Strategy
8.4 KUKA Group
8.4.1 Business Overview
8.4.2 Operating Segment
8.4.3 Business Strategy
8.5 Yaskawa Electric Corporation
8.5.1 Business Overview
8.5.2 Operating Segment
8.5.3 Business Strategy
8.6 Kawasaki Heavy Industries
8.6.1 Business Overview
8.6.2 Operating Segment
8.6.3 Business Strategy
8.7 Mitsubishi Electric Corporation
8.7.1 Business Overview
8.7.2 Operating Segment
8.7.3 Business Strategy
8.8 Denso Corporation (DENSO Robotics)
8.8.1 Business Overview
8.8.2 Operating Region
8.8.3 Business Strategy
8.9 Omron Corporation
8.9.1 Business Overview
8.9.2 Business Segments
8.9.3 Business Strategy
8.10 Quanta Storage Inc. (Techman Robotics Inc.)
8.10.1 Business Overview
8.10.2 Sales by Product Category
8.10.3 Business Strategy
8.11 HAHN Group (Rethink Robotics)
8.11.1 Business Overview
8.11.2 Business Strategy
8.12 Doosan Group
8.12.1 Business Overview
8.12.2 Business Strategy
8.13 AUBO Robotics
8.13.1 Business Overview
8.13.2 Business Strategy
8.14 F&P Robotics AG
8.14.1 Business Overview
8.14.2 Business Strategy

For more information about this report visit https://www.researchandmarkets.com/r/lf88o

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