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Collaborative Robots Market

Collaborative Robots Market- Global Industry Size, Share, Trend Analysis and Forecast Report, 2018-2028, Segmented by component (hardware and software); by payload capacity (up to 5kg, 6-10kg, 11 kg and above); by application (assembly, pick & place, handling, packaging, quality testing, machine tending, gluing & welding and others); by industry (automotive, food & beverage, furniture & equipment, plastic & polymers, metal & machinery, electronics, pharma, others); by region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa)

  • Published Date: June 2022
  • Report ID: BWC22198
  • Available Format: PDF
  • Page: 201

Report Overview

The global collaborative robots market’s growth is attributable to the increasingly high adoption rate of collaborative robots for varied applications in the manufacturing sector as they provide high returns on investment, increasing need for automation, increment in funding for research and development...

Global Collaborative Robots Market - Industry Trends & Forecast Report 2028

The global Collaborative Robots market was valued USD 762 million in 2021 and is expected to reach USD 3,998.1 million by 2028 at a CAGR of 26.9% during the forecast period of 2022-2028. The high growth rate is attributable to the increasingly high adoption rate of collaborative robots for varied applications in the manufacturing sector as they provide:

  • High returns on investment.
  • Increasing need for automation.
  • Increment in funding for research and development.
  • Soaring labor costs.

Collaborative Robots Market

Collaborative Robots Overview

Collaborative robots, also known as cobots are human-scaled machines capable of performing jobs in tough or challenging work environments. They work closely with humans and provide an impressive level of mobility, productivity, and output. Cobots are gaining momentum in many applications, especially in the manufacturing industry, owing to their remarkable performance in dealing with small and delicate objects. They are engineered to co-operate in the same work area with humans and usher in automation in the production environment. The task-sharing is done so that the robot handles all the dirty, manual, physically demanding, and repetitive jobs. At the same time, the human employee can concentrate on other things that are more befitting for their intellectual faculties. Cobots are mostly small-sized and capable of being deployed in a new work location following a short training period.

Global Collaborative Robots Market

Growth Drivers

High Adoption Rate Of Collaborative Robots In Manufacturing SectoLeading ToIncreased Productivity And Reduced Costs.

Collaborative robots or cobots have been adopted on a large scale by both small and medium enterprises (SMEs) and large-sized enterprises on account of multiple benefits provided by them like lower costs of operations, higher productivity at work, efficient and appropriate utilization of human intellect, etc. Collaborative robots with Machine Vision can be employed for detailed work. Industrial automation or factory automation refers to connecting all the factory equipment to augment the reliability and efficiency of process control systems. This, in turn, leads to lower costs, increased flexibility, and overall reduced environmental impact.

Nowadays, major car manufacturers are also being used to scale up productivity and improve the quality of their vehicles. Furthermore, one of their significant advantages is that they can auto-service and don't require human assistance during maintenance-related tasks, thus significantly contributing to the productivity and profitability of the company. These are some of the significant factors spiking the growth of the global collaborative robots market.

Growth Restraint

High Initial expenditure, Limited Speed, and lack of self-learning capability

Although collaborative robots are expected to exhibit a high market growth rate during the forecast period, some factors are likely to hinder the growth. One of the major ones is the high initial expenditure incurred for procurement, integration, accessories, programming, maintenance, etc. Furthermore, Cobots have a limited speed, thereby not suitable for high-speed applications. The majority of them lack self-learning capabilities and thus require human supervision. These are a few factors anticipated to hamper the market growth during the forecast period 2022-2028.

Impact Of COVID-19 On Global Collaborative Robots Market.

COVID-19 pandemic, a deadly transmittable disease, emerged from China and spread worldwide. China being the primary market in the APAC region, has been negatively impacted due to the pandemic in 2020, while the repercussions could be faced globally. Some of the market's foremost companies, such as ABB, Universal Robots, and FANUC, headquartered in Europe and the Asia-Pacific, have seen a significant decline in sales in 2020.

The COVID-19 slowed collaborative robot employment in numerous major industries, such as metals and machining, automotive, electrical, and electronics. Moreover, the overall supply chain ecosystems have been affected across all industries due to consecutive lockdowns. In addition, industries like automobiles and general manufacturing are rapidly declining since robotics solutions play a critical role in them.

However, focusing on positive impact, robots and automation are playing an increasingly prominent role in aiding to protect people and handling the supplies they need to transition to home learning and remote working. Additionally, cobots play a major role in the medical sector by assisting in the disinfecting of hospitals. Therefore, the market situation is likely to improve in the forthcoming years.

Global Collaborative Robots Market– By Component

Based on the component, the global collaborative robots market can be segmented into two categories: hardware and software. Amidst the segmentation, the hardware Segment accounted for a larger market share in 2021. The hardware segment entails drones, exoskeletons, welding robots, robotic arms, end-effectors, controllers, drives, sensors, motors, power supply, and others. Drones play a significant role in the manufacturing sector by inspecting and repairing the material delivery pipes high above the industry floor, thus protecting the human employees of the industry.

Similarly, exoskeletons help augment human efforts. In the manufacturing industries, various tasks have to be performed repeatedly within a minute or even less; thus, the aid of the exoskeleton the manufacturing process by distributing the weight of heavy parts. Welding is another time-consuming task that is ideally appropriate for the cobots. Cobots can handle Arc, laser, TIG, ultrasonic, MIG, plasma, spot welding, soldering, and brazing. The UR+ platform offers all the software and hardware needed to start the automotive welding application. For instance- The Olympus UR Welding system is a low-cost welding solution for small automotive part manufacturers.

Global Collaborative Robots Market– By Payload Capacity

Based on the payload capacity, the global Collaborative Robots market has been segmented into the following categories- up to 5kg, 6-10kg, 11 kg, and above. Amidst the segmentation, the 11 kg and above sub-segment is projected to show the highest market growth rate during the forecast period, owing to the requirement of the automotive sector to perform important activities like assembling spares and components, building the engine, torquing bolts for automobiles, etc., Other segments like up to 5 kg and 6-10 kg are also expected to exhibit a healthy market growth rate owing to its ability to execute many and repeated operations at a fast pace.

Collaborative Robots Market Share

Global Collaborative Robots Market– By Application

Based on the application, the global collaborative robots market has been segmented into the following categories: assembly, pick & place, material handling, packaging, quality testing, machine tending, gluing & welding, and others. The material handling sub-segment had the largest market size due to increasing demand from the automotive, food and beverage, semiconductors, and electronics industries.

Moreover, in such industries, material handling is a critical function because some pieces are delicate and need smooth motion. In these circumstances, robots are used to reduce accident rates and manage staff safety. In terms of other segments, assembling application and quality testing applications are anticipated to witness substantial growth during the forecast period 2022-2028.

Global Collaborative Robots Market– By Industry

Based on the end-user, the global collaborative robots market has been segmented into the following categories: automotive, food & beverage, furniture & equipment, plastic & polymers, metal & machinery, electronics, pharma, and others. Amidst the segmentation, the automotive industry had the largest market size in 2021, owing to heavy demand among manufacturers to lower operating costs, assemble spare parts and components in a shorter time, paint and coat, and improve the overall workplace experience.

Other segments like electronics and semiconductors are expected to witness a substantial growth rate during the forecast period 2022-2028 on account of the emergence of various technological advancements and escalating demand for electronics goods. One of the most significant developments directly related to the enhancement of collaborative robots in the manufacturing sector is the emergence of 5G technology. The need for a dedicated powerful 5G network that is able to cope with the requirements of advanced manufacturing is being served by the 5G technology. The launch of Nokia's industrial-grade 5G private wireless standalone that has been developed to power Industry 4.0 needs and demands is a major boost to the industry. With low-latency connectivity, a private wireless solution aids the original equipment manufacturers ensure safety and security, augment robotic automation, and achieve new efficiency, quality, and productivity in the manufacturing processes.

Global Collaborative Robots Market– Regional Insights.

Based on regions, the global collaborative robots market has been segmented into five categories- North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa. Amidst the segmentation, North America leads the global collaborative robots market due to the breakneck adoption rate of collaborative robots, especially in the automotive manufacturing sector. There has been a substantial rise in robot-assisted surgeries in the U.S. over the last two decades. However, the Asia-Pacific region is anticipated to witness consistent and speedy growth in market share during the forecast period2022-2028. The demand for automation across varied sectors like automotive, manufacturing, and medical in Asia-Pacific fuels the adoption of collaborative robots across these sectors, thus bolstering the market growth of collaborative robots in the region.

Competitive Landscape

The key players dominating the global collaborative robots market are Neura Robotics, F&P Robotics, FrankaEmica, MABI Robotic, Rethink Robotics, K2 Kinetics, Staubli International AG, AUBO Robotics, Yaskawa America Inc.-Motoman Robotics Div., ABB, Bosch Rexroth AG, Fanuc Corporation, Rethink Robotics GmbH, Universal Robots, Ocean Engineering International Inc., Dooshan Robotics Inc., Kuka AG, and other prominent players.

The key market players of the collaborative robot make new strategic collaborations and launch innovative products to maintain their dominance in the market. For instance- Yaskawa launched a 20kg payload HC20XP collaborative human-robot suited for applications where robots can work in close vicinity to humans in March 2020. It is an IP67-level collaborative robot that can be used continuously in humid or splash-prone environments. Different strategies are adopted, like engaging in strategic alliances, agreements, mergers, and collaborations.

Recent Development

February 2021: ABB launched the GoFa and SWIFTI collaborative robot series, expanding its collaborative robot (cobot) product portfolio. The development of GoFa and SWIFTI is focused on accelerating the company's expansion into high-growth areas, such as electronics, healthcare, consumer products, logistics, food, and beverages.

 

May 2021: Epson Robots declared the launch of its first virtual expo, Automate Boldly, a virtual experience that will provide manufacturers with a broad range of factory automation solutions through informative keynote presentations, technology sessions, and product demonstrations.

Scope of Report

Attribute   Details  
Years Considered   Historical data- 2018-2021
Base Year- 2021
Forecast- 2022-2028
Facts Covered   Revenue in USD Million  
Market Coverage   United States, Canada, Germany, United Kingdom, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, United Arab Emirates, South Africa  
Product/Service Segmentation   By component, by payload capacity, by application, by industry, by end user.
Key Players   The key players dominating the global collaborative robots market are Neura Robotics, F&P Robotics, FrankaEmica, MABI Robotic, Rethink Robotics, K2 Kinetics, Staubli International AG, AUBO Robotics, Yaskawa America Inc.-Motoman Robotics Div., ABB, Bosch Rexroth AG, Fanuc Corporation, Rethink Robotics GmbH, Universal Robots, Ocean Engineering International Inc., Dooshan Robotics Inc., Kuka AG and other prominent players.

By Payload Capacity

  • Up To 5kg
  • 6-10kg
  • 11 Kg And Above

By Application

  • Assembly
  • Pick & Place
  • Handling
  • Packaging
  • Others (Quality Testing, Machine Tending, Gluing & Welding)

By Industry

  • Automotive
  • Food & Beverage
  • Furniture & Equipment
  • Plastic & Polymers
  • Others (Metal & Machinery, Electronics, Pharma)

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa
  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Research Methodology
    1. Qualitative Research
      1. Primary & Secondary Research
    2. Quantitative Research
    3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
    4. Breakdown of Primary Research Respondents, By Region
    5. Assumption & Limitation
  3. Executive Summary
  4. Global Collaborative Robots Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
    3. Technological Landscape/Recent Development
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  5. Global Collaborative Robots Market Overview
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Component
        1. Hardware
        2. Software
      2. By Payload Capacity
        1. Up to 5kg
        2. 6-10kg
        3. 11 kg and above
      3. By Application
        1. Assembly
        2. Pick & Place
        3. Handling
        4. Packaging
        5. Others (Quality Testing, Machine Tending, Gluing & Welding)
      4. By Industry
        1. Automotive
        2. Food & Beverage
        3. Furniture & Equipment
        4. Plastic & Polymers
        5. Others (Metal & Machinery, Electronics, Pharma)
      5. By Region
        1.  North America
        2.  Europe
        3.  Asia-Pacific
        4.  Latin America
        5.  Middle-East and Africa
  6. North America Collaborative Robots Market
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
      2. Market Share & Forecast
      3. By Component
      4. By Payload Capacity
      5. By Application
      6. By Industry
      7. By Country
        1. United States
        2. Canada
  7. Europe Collaborative Robots Market
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Component
      2. By Payload Capacity
      3. By Application
      4. By Industry
      5. By Country
        1. Germany
        2. United Kingdom
        3. Italy
        4. France
        5. Spain
        6. Rest of Europe
  8. Asia Pacific Collaborative Robots Market
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Component
      2. By Payload Capacity
      3. By Application
      4. By Industry
      5. By Country
        1. China
        2. India
        3. Japan
        4. South Korea
        5. Rest of Asia Pacific
  9. Latin America Collaborative Robots Market
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Component
      2. By Payload Capacity
      3. By Application
      4. By Industry
      5. By Country
        1. Brazil
        2. Mexico
        3. Rest of Latin America
  10. Middle East & Africa Collaborative Robots Market
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Component
      2. By Payload Capacity
      3. By Application
      4. By Industry
      5. By Country
        1. Saudi Arabia
        2. UAE
        3. South Africa
        4. Rest of Middle East & Africa
  11. Competitive Landscape
      1. List of Key Players and Their Offerings
      2. Market Share Analysis, 2021
      3. Competitive Benchmarking, By Operating Parameters
  12. Key Strategic Development (Merger, Acquisition, Partnership.)
  13. Impact of COVID-19 on Collaborative Robots Market Industry
  14. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
    1. Neura Robotics
    2. F&P Robotics
    3. FrankaEmica
    4. MABI Robotic
    5. Rethink Robotics
    6. K2 Kinetics
    7. Staubli International AG
    8. AUBO Robotics
    9. Yaskawa America Inc.-Motoman Robotics Div.
    10. ABB
    11. Bosch Rexroth AG
    12. Fanuc Corporation
    13. Rethink Robotics GmbH
    14. Universal Robots
    15. Ocean Engineering International Inc.
    16. Dooshan Robotics Inc.
    17. Kuka AG
    18. Other Prominent Players
  15. Key Strategic Recommendations

 

List of Figures

 

Figure 1        Global Collaborative Robots Segmentation

Figure 2        Global Collaborative Robots Market Value Chain Analysis

Figure 3        Company Market Share Analysis, 2021

Figure 4        Global Collaborative Robots Market Size, By Value (USD Million), 2018-2028

Figure 5        Global Collaborative Robots Market Share, By Component, By Value, 2018-2028

Figure 6        Global Collaborative Robots Market Share, By Payload Capacity, By Value, 2018-2021

Figure 7        Global Collaborative Robots Market Share, By Application, By Value, 2018-2021

Figure 8        Global Collaborative Robots Market Share, By Industry, By Value, 2018-2021

Figure 9        Global Collaborative Robots Market Share, By Region, By Value, 2018-2028

Figure 10       North America Collaborative Robots Market Size, By Value (USD Million), 2018-2028

Figure 11       North America Collaborative Robots Market Share, By Component, By Value, 2018-2028

Figure 12       North America Collaborative Robots Market Share, By Payload Capacity, By Value, 2018-2028

Figure 13       North America Collaborative Robots Market Share, By Application, By Value, 2018-2028

Figure 14       North America Collaborative Robots Market Share, By Industry, By Value, 2018-2028

Figure 15       North America Collaborative Robots Market Share, By Country, By Value, 2018-2028

Figure 16       Europe Collaborative Robots Market Size, By Value (USD Million), 2018-2028

Figure 17       Europe Collaborative Robots Market Share, By Component, By Value, 2018-2028

Figure 18       Europe Collaborative Robots Market Share, By Payload Capacity, By Value, 2018-2028

Figure 19       Europe Collaborative Robots Market Share, By Application, By Value, 2018-2028

Figure 20       Europe Collaborative Robots Market Share, By Industry, By Value, 2018-2028

Figure 21       Europe Collaborative Robots Market Share, By Country, By Value, 2018-2028

Figure 22       The Asia-Pacific Collaborative Robots Market Size, By Value (USD Million), 2018-2028

Figure 23       The Asia-Pacific Collaborative Robots Market Share, By Component, By Value, 2018-2028

Figure 24       The Asia-Pacific Collaborative Robots Market Share, By Payload Capacity, By Value, 2018-2028

Figure 25       The Asia-Pacific Collaborative Robots Market Share, By Application, By Value, 2018-2028

Figure 26       The Asia-Pacific Collaborative Robots Market Share, By Industry, By Value, 2018-2028

Figure 27       The Asia-Pacific Collaborative Robots Market Share, By Country, By Value, 2018-2028

Figure 28       Latin America Collaborative Robots Market Size, By Value (USD Million), 2018-2028

Figure 29       Latin America Collaborative Robots Market Share, By Component, By Value, 2018-2028

Figure 30       Latin America Collaborative Robots Market Share, By Payload Capacity, By Value, 2018-2028

Figure 31       Latin America Collaborative Robots Market Share, By Application, By Value, 2018-2028

Figure 32       Latin America Collaborative Robots Market Share, By Industry, By Value, 2018-2028

Figure 33       Latin America Collaborative Robots Market Share, By Country, By Value, 2018-2028

Figure 34       The Middle East & Africa Collaborative Robots Market Size, By Value (USD Million), 2018-2021

Figure 35       The Middle East & Africa Collaborative Robots Market Share, By Component, By Value, 2018-2028

Figure 36       The Middle East & Africa Collaborative Robots Market Share, By Payload Capacity, By Value, 2018-2028

Figure 37       The Middle East & Africa Collaborative Robots Market Share, By Application, By Value, 2018-2028

Figure 38       The Middle East & Africa Collaborative Robots Market Share, By Industry, By Value, 2018-2028

Figure 39       The Middle East & Africa Collaborative Robots Market Share, By Country, By Value, 2018-2028

 

List of Tables

 

Table 1         Global Collaborative Robots Market Size, By Component, By Value, 2018-2028

Table 2         Global Collaborative Robots Market Size, By Payload Capacity, By Value, 2018-2021

Table 3         Global Collaborative Robots Market Size, By Application, By Value, 2018-2021

Table 4         Global Collaborative Robots Market Size, By Industry, By Value, 2018-2021

Table 5         Global Collaborative Robots Market Size, By Region, By Value, 2018-2028

Table 6         North America Collaborative Robots Market Size, By Component, By Value, 2018-2028

Table 7         North America Collaborative Robots Market Size, By Payload Capacity, By Value, 2018-2028

Table 8         North America Collaborative Robots Market Size, By Application, By Value, 2018-2028

Table 9         North America Collaborative Robots Market Size, By Industry, By Value, 2018-2028

Table 10        North America Collaborative Robots Market Size, By Country, By Value, 2018-2028

Table 11        Europe Collaborative Robots Market Size, By Component, By Value, 2018-2028

Table 12        Europe Collaborative Robots Market Size, By Payload Capacity, By Value, 2018-2021

Table 13        Europe Collaborative Robots Market Size, By Application, By Value, 2018-2021

Table 14        Europe Collaborative Robots Market Size, By Industry, By Value, 2018-2021

Table 15        Europe Collaborative Robots Market Size, By Country, By Value, 2018-2028

Table 16        The Asia-Pacific Collaborative Robots Market Size, By Component, By Value, 2018-2028

Table 17        The Asia-Pacific Collaborative Robots Market Size, By Payload Capacity, By Value, 2018-2028

Table 18        The Asia-Pacific Collaborative Robots Market Size, By Application, By Value, 2018-2028

Table 19        The Asia-Pacific Collaborative Robots Market Size, By Industry, By Value, 2018-2028

Table 20        The Asia-Pacific Collaborative Robots Market Size, By Country, By Value, 2018-2028

Table 21        Latin America Collaborative Robots Market Size, By Component, By Value, 2018-2028

Table 22        Latin America Collaborative Robots Market Size, By Payload Capacity, By Value, 2018-2028

Table 23        Latin America Collaborative Robots Market Size, By Application, By Value, 2018-2028

Table 24        Latin America Collaborative Robots Market Size, By Industry, By Value, 2018-2028

Table 25        Latin America Collaborative Robots Market Size, By Country, By Value, 2018-2028

Table 26        The Middle East & Africa Collaborative Robots Market Size, By Component, By Value, 2018-2028

Table 27        The Middle East & Africa Collaborative Robots Market Size, By Payload Capacity, By Value, 2018-2028

Table 28        The Middle East & Africa Collaborative Robots Market Size, By Application, By Value, 2018-2028

Table 29        The Middle East & Africa Collaborative Robots Market Size, By Industry, By Value, 2018-2028

Table 30        The Middle East & Africa Collaborative Robots Market Size, By Country, By Value, 2018-2028

Table 31        Neura Robotics Company Overview

Table 32        Neura Robotics Financial Overview

Table 33        F&P Robotics Company Overview

Table 34        F&P Robotics Financial Overview

Table 35        MABI Robotic Company Overview

Table 36        MABI Robotic Financial Overview

Table 37        Rethink Robotics Company Overview

Table 38        Rethink Robotics Financial Overview

Table 39        Staubli International AG Company Overview

Table 40        Staubli International AG Financial Overview

Table 41        Yaskawa America Inc.-Motoman Robotics Div. Company Overview

Table 42        Yaskawa America Inc.-Motoman Robotics Div. Financial Overview

Table 43        ABB Company Overview

Table 44        ABB Financial Overview

Table 45        Bosch Rexroth AG Company Overview

Table 46        Bosch Rexroth AG Financial Overview

Table 47        Fanuc Corporation Company Overview

Table 48        Fanuc Corporation Financial Overview

Table 49        Rethink Robotics GmbH Company Overview

Table 50        Rethink Robotics GmbH Financial Overview

Table 51        Universal Robots Company Overview

Table 52        Universal Robots Financial Overview

Table 53        Ocean Engineering International Inc. Company Overview

Table 54        Ocean Engineering International Inc. Financial Overview

Table 55        Dooshan Robotics Inc. Company Overview

Table 56        Dooshan Robotics Inc. Financial Overview

Table 57        Kuka AG Company Overview

Table 58        Kuka AG Financial Overview

 

Market Segmentation

By Payload Capacity

  • Up To 5kg
  • 6-10kg
  • 11 Kg And Above

By Application

  • Assembly
  • Pick & Place
  • Handling
  • Packaging
  • Others (Quality Testing, Machine Tending, Gluing & Welding)

By Industry

  • Automotive
  • Food & Beverage
  • Furniture & Equipment
  • Plastic & Polymers
  • Others (Metal & Machinery, Electronics, Pharma)

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa
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Frequently Asked Questions (FAQs):

Ans: Asia-Pacific region is growing at the highest rate in the global collaborative robots market.
Ans: The global collaborative robots market reached USD 762.0 million in 2021.  
Ans: The key players dominating the global collaborative robots market are Neura Robotics, F&P Robotics, FrankaEmica, MABI Robotic, Rethink Robotics, K2 Kinetics, Staubli International AG, AUBO Robotics, Yaskawa America Inc.-Motoman Robotics Div., ABB, Bosch Rexroth AG, Fanuc Corporation, Rethink Robotics GmbH, Universal Robots, Ocean Engineering International Inc., Dooshan Robotics Inc., Kuka AG and other prominent players.
Ans: The global collaborative robots market’s growth is attributable to the increasingly high adoption rate of collaborative robots for varied applications in the manufacturing sector as they provide high returns on investment, increasing need for automation, increment in funding for research and development.
Ans: The above 11 kg segment is growing at the highest rate in the global collaborative robots.