Global Collaborative Smart Robots Market to Register a CAGR of 49.8% by 2025, QY Research Predicts

Los Angeles, United States, September 24, 2019 – Collaborative smart robots have brought about tremendous advancements to automation in recent years. In addition to the manufacturing industry, these robots are used in industries such as electronics, food & beverages, automotive, and metals and machinery. Application of collaborative smart robots in these industries is estimated to result in a market growth within an anticipated time period.

The demand arising from the automotive industrial customers, researchers, and engineers have initiated the development of collaborative robots. Taking into account the growth of the global market, QY Research has published a new research report, titled, “Global Collaborative Smart Robots Market Report, History and Forecast 2014-2025.” According to the report, the market is expected to reach US$9766 mn by 2025 from US$551 mn in 2018, registering a CAGR of 49.8% over the forecast period.

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Rising Industrial Applications to Boost Sales of Collaborative Smart Robots

The global collaborative smart robots market will witness robust growth due to growing investments in sensing technologies. Despite using programming robots for various production processes such as welding and assembly line, companies operating in the automotive industry are facing challenges with them. This has increased the demand for user-friendly, collaborative smart robots, which do not require a highly skilled workforce to install and carry out operations. Furthermore, they require low maintenance, which has paved the way for developing a common software platform.

Collaborative smart robots assist industries to improve their production rates. Robots are currently working in various industries and are impacting the logistics industry to overcome the challenges like handling and managing compact spaces. With the innovation of next-generation collaborative smart robots, moving, seeing, and reacting to the environment can done with unprecedented precision and accuracy. All of these factors are expected to positively influence the demand for collaborative smart robots market during the forecast period.

Europe to lead the Collaborative Smart Robots Market

Europe will witness a remarkable market share to due to growing application of cobots in various verticals such as logistics, inspection, and electronics. This will be attributable to rising demand for efficient manufacturing with resource optimizing solutions provided by automation. Increasing focus on precision and quality of robots in Asia Pacific region has also created lucrative opportunities for this regional market.

Food and beverage, automotive, plastics and polymer, electronics, metals and machining, and others are the end-user industries. The automotive segment will dominate the collaborative smart robots market due to factors such as a reduction in the floor space and declining cost of production. Table-top robot and mobile robots are the product type segments of the global collaborative robots market.

Top Players

Adept Robotics, Universal Robots, F&P, HAHN GROUP, Yaskawa, ABB YuMi, KUKA iiwa, and ABB YuMi are the leading manufacturers that are operating in the global collaborative smart robots market.

Summary Points:

  ●  The shift towards automation to save cost and time are the key factors likely to spur adoption of collaborative smart robot solutions

  ●  Decreased number of accidents and injuries at the workplace due to application of collaborative smart robots to drive market growth