Collaborative robots also known as co-robot or cobot are robots, used in various industries such as automotive, food and packaging, etc. for various applications, wherein they physically interact with humans to complete a task.
A major factor driving growth of the global collaborative robots market technological proliferation is. A key factor hampering growth of the global collaborative robots market is stringent government regulations. Rising investments in robotic technology is another factor expected to support growth of the global market to a considerable extent over the next 10 years.
The global market report is segmented on the basis of payload capacity, application, industry, and region. On the basis of payload capacity, the global market is segmented into up to 5 kg, up to 10 kg, and above 10 kg.
On the basis of application, the global market is segmented into assembly, pick and place, machine tending, quality testing, handling, packaging and palletizing, gluing and welding, and others. The assembly segment is expected to witness highest growth in terms of revenue in the global market over the next 10 years.
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On the basis of industry, the global market is segmented into automotive, electronics, metals & machining, plastics & polymer, food & agriculture, healthcare, furniture & equipment, and others. The automotive segment accounts for highest share in the global market and is expected to witness significant growth over the forecast period.
On the basis of region, the global market is segmented into North America, Europe, Asia Pacific. Latin America, and Middle East & Africa. The Market in North America accounts for significant share in the global market; whereas the market in Asia Pacific is expected to witness highest growth in terms of revenue over the forecast period.
Key players in the global market are ABB Group, Denso Corporation, Rethink Robotics, Inc., Robert Bosch GmbH, Universal Robots A/S, FANUC Corporation, KUKA AG, Precise Automation, Inc., Yaskawa Electric Corporation, Energid Technologies Corporation, F&P Robotics AG, and other prominent players.