Collaborative Robot (Cobot) Market is Expected to Reach $6.97 Million by 2033: BIS Research

Collaborative robots (Cobots) are designed to work alongside humans in shared workspaces, featuring enhanced safety and ease of use. Unlike traditional industrial robots, cobots are lightweight, versatile, and equipped with sensors and force-limited joints to ensure safe human interaction. 

They are increasingly used in industries such as electronics and automotive for tasks like material handling and sophisticated assembly, boosting productivity and reducing physical strain on workers. Cobots are continually advancing with the integration of artificial intelligence and machine learning, improving their capabilities and autonomy in dynamic industrial environments.

Recently, BIS Research released the Global Collaborative Robot (Cobot) Market report covers the market's base year as 2022, with a size of $2,104.2 million in 2023. The forecast period spans from 2023 to 2033, projecting a market value of $6,972.6 million by 2033, with a CAGR of 12.73%. The report includes 129 pages, featuring 20 tables and 26 figures. 

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Collaborative Robot Market Analysis: Drivers, Challenges, and Opportunities 

Drivers: 

• Increasing demand for automation across industries. 
• Enhancing production efficiency and ensuring employee safety. 
• Shortage of skilled workers and escalating wage expenses. 

Challenges: 

• High initial investment and operational expenditures. 
• Complex technical and integration hurdles. 

Opportunities: 

• Increasing adoption among small and medium-sized enterprises (SMEs). 

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Collaborative Robot Market Segments 

Segmentation 1: by Industry 

•   Automotive 

•   Electrical, Electronics, and Semiconductor 

•   Plastic and Polymer 

•   Pharma and Chemistry 

•   Food and Beverage 

•   Aerospace and Defense 

•   Metal and Machining 

•   Others 

Segmentation 2: by Application 

•   Material Handling 

•   Assembly 

•   Molding Operations 

•   CNC Machine Tending 

•   Test and Inspection 

•   Packaging and Palletizing 

•   Polishing 

•   Screw Driving 

•   Gluing, Dispensing, and Welding 

•   Others 

Segmentation 3: by Type 

•   Static Cobot 

•   Mobile Cobot 

Segmentation 4: by Payload 

•   Less than 5Kg 

•   5Kg-9Kg 

•   10Kg-20Kg 

•   Above 20Kg 

Segmentation 5: by Component 

•   Hardware 

•   Software 

Segmentation 6: by Region 

•   North America - U.S. and Canada 

•   Europe - U.K., Germany, France, and Rest-of-Europe 

•   Asia-Pacific - China, India, Japan, and Rest-of-Asia-Pacific 

•   Rest-of-the-World - South America and Middle East and Africa 

Overview: The Global Collaborative Robot (Cobot) Market is segmented by industry, application, type, payload, component, and region. The automotive industry leads with a 14.04% share due to strong integration in production. Material handling dominates applications with a 20.73% share for its versatility. Static cobots hold a 67.0% share in type due to their stationary job applications.  

Cobots with less than 5Kg payload lead with a 34.0% share, favored for delicate tasks. Hardware components dominate with a 33% share due to significant investment. Asia-Pacific is the fastest-growing region, while Germany shows high growth in Europe, driven by automotive industry adoption. 

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Key Players in the Cobot Market

•    ABB

•    AUBO (Beijing) Robotics Technology Co., Ltd.

•    Bosch Rexroth AG 

•    Comau S.p.A.

•    DENSO International America, Inc

•    FANUC CORPORATION

•    HAHN Group Gmbh

•    KUKA AG

•    Nachi Robotic Systems, Inc.,

•    Robotiq

•    Productive Robotics, Inc.

•    Seiko Epson Corporation

•    TECHMAN ROBOT INC.

•    Universal Robots A/S

•    Yaskawa Motoman

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Other Related Reports from BIS Research 

Robotic Smart Motors Market 

Military Robotic and Autonomous System (RAS) Market 

About BIS Research 

BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends, which can disrupt the market dynamics in the near future. We publish over 200 market intelligence studies annually, focusing on several deep technology verticals.   

Our strategic market analysis emphasizes market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.    

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