In a recent published report, Kenneth Research has updated the market report for Collaborative Robots Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Collaborative Robots Market products.
Kenneth Research has published a detailed report on Collaborative Robots Market, which has been categorized by market size as well as growth indicators, and further encompasses detailed market analysis on macro trends and region-wise growth in North America, Latin America, Europe, Asia-Pacific and Middle East & Africa region. The report also includes the challenges that are affecting the growth of the industry and offers strategic evaluation that is required to boost the growth of the market over the period of 2021-2025.
The Global Collaborative Robots Market was valued at USD 182.36 million in 2016 and is projected to reach USD 10580.94 million by 2025, growing at a CAGR of 57.02% from 2017 to 2025. A Collaborative Robot (cobot) is a robot designed to assist human beings as a guide or assistor in a specific task. Collaborative robots are programmed and designed to work with human instruction, or otherwise respond to human behaviors and actions. There are several benefits of cobot that includes – easy programming, fast set up, faster payback in the robot industry, better robot-human interaction and efficiency, increased return on investment, safer work environment, suitable for small-scale and mid-scale production, and safely handles complex and dangerous tasks.
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1. Market Drivers
1.1 Increasing demand for high-payload-capacity co-bots
1.2 Rising investments in automation sector by industries
1.3 High RoI and low price of collaborative robots attracting small and medium enterprises
1.4 Growing potential for robot installation in many countries
2. Market Restraints
2.1 Need to safely handle industrial operations
2.2 Poor capabilities related to faster cycle time and repeatability
The Global Collaborative Robots Market is segmented on the application, payload capacity, vertical, and region.
1.1 Packaging and Palletizing
1.2 Gluing and Welding
1.3 Pick and Place
1.4 Machine Tending
1.7 Quality Testing
2. By Payload Capacity:
2.1 Up to 5 kg
2.2 Up to 10 kg
2.3 Above 10 kg
3. By Vertical:
3.3 Metals & Machining
3.4 Furniture & Equipment
3.6 Plastics & Polymer
3.7 Food & Agriculture
4. By Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Middle East & Africa
The major players in the market are as follows:
1. FANUC Corporation
2. KUKA AG
3. Universal Robots A/S
4. Precise Automation, Inc.
5. Rethink Robotics
6. Energid Technologies Corporation
8. Robert Bosch GmbH
9. F&P Robotics AG
10. MRK-Systeme GmbH
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Global Collaborative Robots Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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