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Global Collaborative Robot Market will grow to US$ 7796.70 Mn by 2027 with 34.6% of CAGR

Published On 05 Aug 2020 04:52 PM


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  • The global collaborative robot market was valued at US$ 540.6 Mn in 2018 and is anticipated to witness a compound annual growth rate of 34.6% over the forecast period. 
  • Technological innovations in global collaborative robot market have enabled collaborative robots to supersede the automation capabilities of industrial robots. Investments are being directed towards improvisation in the interactive capabilities of collaborative robots, which is expected to enhance their operational feasibility across more unstructured environments. The development will further boost the human-robot collaboration, thereby maximizing overall productivity.

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  • The recent outbreak of COVID-19 pandemic has accelerated the adoption of collaborative robots to compensate for scarce manpower and to comply with social distancing norms across workplaces.
  • High demand from multiple industries to create flexible production lines by assisting the workers to lift and manipulate objects is boosting the share of heavy payload robots, wherein a substantial share in adoption is being witnessed among the small and medium-sized enterprises.
  • Healthcare and pharmaceutical end use industry is witnessing rapid growth owing to numerous surgical and non-surgical applications catered by collaborative robots. Increasing investments towards healthcare industry is aiding the market growth.
  • North America held the highest market share in global collaborative robot market in 2018. Asia Pacific is expected to register highest growth rate over the forecast period owing to growing industrialization in the region along with increasing demand for expanding manufacturing capabilities.
  • Some of the players operating in the global collaborative robot market are ABB, agentur-etcetera.de, AUBO Robotics, Automata, Bosch Rexroth AG, Comau S.p.A., Doosan Robotics Inc., F&P Robotics, FANUC, SWITZERLAND GMBH, Franka Emika GmbH, Hanwha Precision Machinery CO. LTD, Kawasaki Heavy Industries, Ltd., MABI Robotic AG, RobotWorx, Shenzhen Han's Robot Co., Ltd, TECHMAN ROBOT INC, Universal Robots, WiredWorkers and Yaskawa America, Inc. amongst other market participants.

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The detailed research study provides qualitative and quantitative analysis of global collaborative robot market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

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Press Release Provided By: Absolute Markets Insights