Collaborative Robots market share research by applications and regions for 2018-2024

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Collaborative Robots market share research by
applications and regions for 2018-2024 Global
Market Insights, Inc.
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Overview of Collaborative Robots Market

• The pick and place application in the
  collaborative robots market holds high growth
  potential growth shares and is expected to
  dominate in the coming years. The high demand for
  this segment is due to the ease in
  loading/unloading operations, reduction in human
  involvement in picking and placing of bulk
  products, and time-saving as these machines are
  faster than human laborers. The assembly
  application segment in the collaborative robots
  market is expected to gain large revenue and
  growth shares over the forecast years. This
  growth is attributed to the easy programming of
  these systems to carry out assembly operations.
  These machines can be easily guided and
  controlled by humans to ensure an effective
  performance by assembling the correct products in
  their appropriate places.
• Collaborative Robots Market size is driven by the
  increasing demand for robotics and automation
  technology in several industry verticals such as
  e-commerce, retail, and manufacturing sectors.
  Companies are increasingly implementing automated
  technologies as a replacement for human labor as
  they are affordable, easily trainable, and
  flexible as compared to humans, driving the
  collaborative robots market. The prices of
  sensors are declining continuously due to the
  high penetration of sensor manufacturers and
  their varied uses ranging from high-end to
  low-end applications, cutting down the total cost
  of manufacturing these technologies. The ease of
  training and the deployment of these systems as
  compared to traditional and bulky equipment is
  fueling the collaborative robots market growth.

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• A major trend in the industry is the
  implementation of these systems as human
  co-workers. The collaboration of human and
  machines aids in the easier performance of
  critical operations, simplification of program
  integration, and standardization in mechanical
  and electrical operations. By implementing simple
  interfaces, the technology allows low-skilled
  personnel to perform tasks such as vehicle
  painting, placing of components, and packing
  without having in-depth knowledge and training in
  machine operations.
• The emergence of SMEs all over the world is
  creating high opportunities for the collaborative
  robots market growth. These machines are highly
  efficient in these manufacturing companies by
  performing complex operations such as assembly,
  loading/unloading, packaging, sorting,
  dispensing, and polishing, which provide massive
  savings in terms of human efforts and the time
  for performing these operations. For instance,
  the SMEs in India have been provided by several
  provisions such as tax exemptions, loans at low
  rates by Non-Banking Financial Companies (NBFCs),
  and high reductions in the basic fees required
  for establishment and renovation of start-ups and
  SMEs.

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• The technologies are highly susceptible to cyber
  and physical security threats. Malfunctioning and
  power surges can lead to injuries and loss of
  human life. However, these problems can be
  overcome while manufacturing by implementing
  efficient security systems that limit the force
  and power of clamps to prepare for the worst-case
  scenarios, increasing collaborative robots market
  growth. Hand guiding these robots while
  performing complex operations on floors is an
  issue hindering the collaborative robots market
  growth. The systems move on commands received
  from controller units, which are sometimes
  missed, resulting in incorrect operations and
  damages to the products. These systems require
  regular technical upgrades, mandating companies
  to expend large financial funds and negatively
  impacting the collaborative robots market demand.
  SMEs and start-ups most often have limited funds
  and cannot afford timely system upgrades and
  repairs.
• The emergence of gripper technology is driving
  the collaborative robots market growth as these
  components can mimic the versatility of a human
  hand. Such integrations are used in highly
  complex industrial operations such as
  manufacturing and production work. The
  implementation of AI with this technology is an
  emerging industry trend. AI aids in improving the
  sensing and collection of data in unstructured
  environments by using the high computing power.
  It also helps in increasing the flexibility in
  navigating new environments and performing new
  tasks.

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• The above 10 kg load capacity segment in the
  collaborative robots market is expected to
  account for the highest demand over the forecast
  period. The growth of this segment is credited to
  the high capacity of carrying loads, which reduce
  the number of cycles for performing loading,
  unloading, and transporting operations.
  Additionally, they also deliver higher bulk
  outputs as compared to the low payload capacity
  devices. The implementation of this segment
  requires a lesser number of similar systems as
  they can perform the task of two or more systems.
  The 5-10 kg load capacity systems are growing
  steadily in the collaborative robots market owing
  to their use in small manufacturers or
  warehousing companies, which do not have large
  bulks of products and complex operations.
• The U.S. is expected to witness large growth and
  revenue shares owing to the rapid adoption of the
  automation and robotics technology. Presence of
  major manufacturers of these systems and
  increasing investment power of companies to
  implement these systems in their environment,
  drive the collaborative robots market growth.
  Furthermore, the region also accounts for high
  labor cost and unavailability of efficient
  laborers for performing complex operations.
  India, China, and Japan in the Asia Pacific
  region is witnessing a high demand for these
  machines in the recent years. The collaborative
  robots market growth in China is due to the
  presence of a large number of manufacturing
  companies such as consumer electronics and
  e-commerce companies, which implement these
  systems in a number of tasks such as assembly,
  transportation, sorting, and packaging of
  products.

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• Players in the collaborative robots market
  include ABB Ltd., KUKA AG., Robert Bosch GmbH,
  Fanuc Corporation, Rethink Robotics, Omron, and
  Universal Robots. Several players are adopting
  new product developments and innovations, mergers
  and acquisitions, collaborations, and
  partnerships to sustain a high industry
  competition and provide advanced technologies to
  consumers. For instance, in February 2018, Fanuc
  Corporation announced the acquisition of Life
  Robotics, a manufacturing company specializing in
  these systems. This acquisition strengthens the
  growth in the collaborative robots market by
  implementing elbow-less systems of Life
  Robotics that consumes less space.

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Methodology

• Market
  research reports Key analytical components

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