Collaborative Robot Market Size Worth $20,258.74 Million By 2032 | CAGR: 32.50%

The global collaborative robot market size is expected to reach USD 20,258.74 million by 2032, according to a new study by Polaris Market Research. The report “Collaborative Robot Market Share, Size, Trends, Industry Analysis Report By Payload Capacity (Up to 5kg, Up to 10kg, Above 10kg); By Industry Vertical; By Application; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Collaborative robots are the robotic systems designed to work alongside humans. They interact and collaborate without causing harm, equipped with sensors, safety mechanisms, and intelligent programming. Cobots are lightweight, compact, and mobile, making them adaptable to various work environments.

Collaborative robots, are increasingly becoming more user-friendly and accessible, ushering in fresh prospects for various organizations. The surging interest in cobots beyond traditional manufacturing sectors, coupled with their decreasing costs, is a significant catalyst for the market's expansion. Moreover, the continuous advancements in human-machine interfaces aimed at boosting productivity, the implementation of advanced software for enhancing human safety, and the simplification of programming processes stand out as pivotal factors propelling the collaborative robot’s market's growth.

Collaborative robots provide not just an economical option but also come with additional advantages, such as removing the need for human supervision in maintenance duties. This results in a notable increase in efficiency and profitability for businesses. Unlike traditional industrial robots that often carry a price range of $50,000 to $80,000, collaborative robots, or cobots, offer a more cost-effective solution, with prices falling between $25,000 and $50,000. This cost-benefit renders cobots a more feasible and cost-friendly option for small-scale industries with restricted production capabilities and smaller enterprises.

The COVID-19 pandemic accelerated the integration of collaborative robots (cobots), which played a critical role in sectors such as manufacturing, logistics, and healthcare. Cobots were in high demand as they could handle tasks such as material handling, quality control, and disinfection while keeping workers safe. The adaptability and versatility of cobots in rapidly changing environments were also highlighted. The post-pandemic era is expected to see continued growth in the cobot market as businesses recognize the benefits of automation and collaborative efforts in their operations.

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Collaborative Robot Market Report Highlights

•  The 5kg segment accounted for the largest revenue share in the forecast period, Collaborative robots with a 5kg payload capacity are versatile and widely used in factory automation and the automotive industry. They operate at 1.2 meters per second, offer a 1000mm reach, and are compatible with providing safety, adaptability and repeatability. These robots are highly adaptable and ideally suited for tasks such as assembly, pick-and-place operations, packaging, and the handling of small components across diverse industries, including electronics, automotive, consumer goods, and pharmaceuticals.
• The automotive segment expected to dominate the market share during the forecast period. Collaborative robots or cobots have a wide range of applications, including handling materials, quality assurance, painting and finishing, testing, and assembly line operations. They work closely with human operators, providing essential support and improving efficiency and worker safety. Cobots are crucial for engine assembly, installing electrical systems, and assembling interior and exterior components.
• Europe is anticipated to dominate the market in the forecast period. Collaborative robots (cobots) are increasingly integrated into various industries in Europe, including automotive, electronics, manufacturing, healthcare, and logistics. The region's strong industrial foundation, particularly in Italy, France, the United Kingdom, and Germany, is conducive to the deployment of cobots. Europe's commitment to innovation and safety standards has led to the adoption and expansion of cobots, designed to work safely alongside human employees in industrial settings.
• The Asia-Pacific region accounted for the fastest growth in the forecast period. Governments in this region have promoted collaborative robots for industrial growth, implementing initiatives, policies, and financial support. Rising labor costs and aging populations in countries like China and Japan have increased demand for automation solutions, particularly collaborative robots. Cobots are cost-effective, enhance efficiency, and reduce reliance on manual labor.
• The global key market players include ABB Group, DENSO Robotics, Energid Technologies Corporation, Epson Robots, F&P Robotics AG, Fanuc Corporation, KUKA AG, MRK-Systeme GmbH, Precise Automation, Inc, Rethink Robotics, Inc, Robert Bosch GmbH, Universal Robots A/S, and Yaskawa Electric Corporation.

Polaris Market Research has segmented the collaborative robot market report based on payload capacity, industry vertical, application and region:

Collaborative Robot, Payload Capacity Outlook (Revenue - USD Million, 2019 - 2032)

• Up to 5kg
• Up to 10kg
• Above 10 kg

Collaborative Robot, Industry Vertical Outlook (Revenue - USD Million, 2019 - 2032)

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

Collaborative Robot, Application Outlook (Revenue - USD Million, 2019 - 2032)

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

Collaborative Robot, Regional Outlook (Revenue - USD Million, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Collaborative Robot Market Report Scope