The report titled Collaborative Robots MARKET which was recently added by Kenneth Research, aims at providing the clients with the business growth and investment opportunities present in the market globally. Further, the market is evaluated on various parameters that is covered in the report and further includes market size, market volume and the growth rate over the forecast period, i.e., 2022-2031. The market is further anticipated to grow with a robust CAGR throughout the forecast period.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis 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) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst 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.
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The Information and Communications Technologies (ICT) sector in Canada consists of more than 41,500 companies, out of which, over 37,000 companies come under the category of software and computer services industries. Hence, around 89.8% of key players in the ICT industry are involved in software and computer services, 4.5% companies are in ICT wholesaling, 3.4% in communications services and the remaining 2.2% companies are involved in ICT manufacturing in the country, as per the Canadian ICT Sector Profile released by the Government of Canada in 2018.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
The global collaborative robots (Cobots or Co-robots) market was valued at USD 145.3 Million in 2016 and is expected to grow immensely over the forecast period. The force-limited joint is the unique feature of cobots which has been designed to identify forces due to impact and respond quickly.
The robots offers advanced industrial automation solutions to end-user industries and are considered as the one-stop solution for safe working environment. The Cobots are designed with advanced software and sensors which has further reduced the injuries of the employees. The cobots with low price and high return on investment are further expected to fuel the market growth over the forecast period.
The market is projected grow significantly owing to the substantial traction due to reduced total cost of ownership and benefits associated with co-bots from small and medium size enterprises. The significant growth of cobots is encouraged by three key markets which include electronic manufacturers’ service companies and electronics manufacturers, manufacturers seeking optimized agile production methodologies and SME’s.
The collaborative robots market is segmented based on payload capacity, industry, application and region. The payload capacity segment include upto 5kg, upto 10kg, and above 10kg, whereas the application segment is segregated into assembly, pick & place, handling, packaging, quality testing, machine tending, gluing & welding and others. The industry using the technology includes automotive, food & beverage, furniture & equipment, plastic & polymers, metal & machinery, electronics, and pharmaceutical.
Cobots with payload capacity of above 10kg is anticipated to grow significantly during forecast period
The cobots above 10kg payload capacity are estimated to witness significant growth owing to their capability of handling immense tasks with high precision and reliability. Furthermore, assemble and pick & place application segment are projected to grow significantly owing to their high flexibility for performing application-specific tasks with easy programming and changing end grippers. The assembly application growth is attributed to the growing demand in major industries which include electronics, automotive, and furniture & equipment.
Global Collaborative Robots Market Revenue, By Payload Capacity, 2014– 2025 (USD Billion)
The automotive industry is estimated to acquire major market share in the application segment in 2016 owing to the huge application in assisting employees in the production line and assembly line for enhancing the operational efficiency and productivity of the process. The growth is attributed by the increased efficiency in deployment of cobots for enhanced productivity.
Although, several industries are deploying the cobots at a significant rate, however rapidly changing robotics industry, lack of skilled force and compliance with stringent regulations are few factors are projected to hinder the growth over the forecast period.
Europe is accounted for major share in 2016
Europe collaborative robots market is projected to acquire the major share of over 40% followed by North America and Asia Pacific. The industry growth is driven by strong government funding for factory automation solutions and collectively or independently developed robot-human collaboration for increasing efficiency and reliability which is further driving the market over the forecast period.
Few key players include Cisco, Akros Silicon, Inc., Flexcomm Technology, Microsemi Corporation and Maxim Integrated. Other players include ON Semiconductor, Shenzhen Quanma Industry Co. Ltd., Silicon Laboratories, STMicroelectronics, VISIX.Geographic Segmentation: This report split global market into North America, Europe, Asia Pacific, the Middle East and Africa and Latin America, with revenue (Billion USD), market share and growth rate of Thermoform Packaging Market for these regions, from 2015 to 2025 (forecast)
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The Market report answers the following questions:
What is the aim of the report?
- The market report presents the estimated market size of Collaborative Robots MARKET by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
- Based on various indicators, the Year-on-Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
- An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
- The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
- The various parameters accelerating the growth of Market are incorporated in the research report.
- The report analyzes growth rate, market size and valuation of the Market during the forecast period.
What aspects regarding the regional analysis Market are included in this report?
- Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
- The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
- The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
Based on what factors are the key market players assessed in this report?
- The report offers detailed analysis of leading companies in the market across the globe.
- It provides details of the major vendors involved in the Market including Key Players
- A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
- The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
- The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
What is the key information extracted from the report?
- Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
- The report offers the present scenario and future growth prospects Market in various geographical regions.
- The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
- The SWOT analysis is conducted along with Porter’s Five Force analysis.
- The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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About Kenneth Research:
Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defense, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.
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