#collaborative robot

The global collaborative robot (cobot) market is experiencing rapid expansion, driven by increasing automation needs, high labor costs, and heightened concerns for workplace safety and productivity. In 2023, the industry was valued at US$ 1.2 billion and is projected to reach US$ 15.3 billion by 2034, growing at an impressive CAGR of 26.1% from 2024 to 2034.

Cobots are designed to work alongside human workers, offering significant advantages such as flexibility, ease of programming, and enhanced safety features. Their growing adoption across industries like electronics, automotive, healthcare, and logistics signals a transformative shift in the global manufacturing and service sectors.

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Top Market Trends

Increased Automation Demand: With businesses striving to enhance efficiency, collaborative robots are being widely implemented to handle repetitive tasks while allowing human workers to focus on more strategic roles.

Workplace Safety and Ergonomics: Cobots feature advanced safety measures, including force-limiting sensors and real-time monitoring, ensuring seamless collaboration between humans and machines without compromising worker well-being.

Technological Advancements: Innovations in artificial intelligence (AI), machine learning, and sensor technologies have significantly improved cobots' adaptability and ease of integration into existing workflows.

Rising Customization in Manufacturing: The automotive and consumer electronics industries are leveraging cobots to cater to dynamic product demands and frequent design changes, thereby ensuring agility in operations.

Regional Expansion: Asia Pacific dominates the market, holding a 34.2% share in 2023, with rapid industrialization and investments in automation expected to sustain strong growth through 2034.

Future Outlook

The collaborative robot market is poised for exponential growth as industries increasingly adopt automation to enhance productivity and safety. Organizations that embrace cobot technologies gain a competitive advantage by improving efficiency, reducing workplace injuries, and ensuring rapid adaptability to market shifts.

The future of cobots includes the integration of advanced AI-driven functionalities, improved human-robot interaction, and expansion into new applications beyond manufacturing, including healthcare, retail, and service industries. With increasing regulatory support and investment in research & development, the cobot market is set to become a cornerstone of the future workforce.

Key Market Drivers

Rising Need for Automation: Businesses are adopting cobots to optimize production, improve efficiency, and address labor shortages.

Focus on Safety and Ergonomics: With stringent workplace safety regulations, cobots provide a viable solution by reducing strain and injury risks for workers.

Flexibility and Adaptability: Unlike traditional industrial robots, cobots can be reprogrammed and repurposed for different tasks, making them ideal for dynamic manufacturing environments.

Technological Advancements: The integration of AI and IoT enhances cobots' capabilities, making them more intuitive and easier to integrate with human-led operations.

Cost-Effectiveness: Cobots offer a more affordable automation solution compared to traditional robotic systems, making them attractive for small and medium-sized enterprises (SMEs).

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Market Challenges

High Initial Investment Costs: While cobots offer long-term benefits, the upfront investment in technology and integration remains a challenge for some companies.

Workforce Adaptation: Employee training and adaptation to working alongside robots require a cultural shift within organizations.

Limited Awareness in Emerging Markets: While developed economies are embracing cobots, awareness and adoption in some emerging markets remain relatively low.

Security Concerns: As cobots become more connected through IoT and AI, cybersecurity threats pose a growing risk to operational integrity.

Complexity in High-Precision Tasks: Despite advancements, cobots still face limitations in performing highly intricate operations that require extreme precision.

Future Prospects: What’s Next for the Industry?

The collaborative robot market is set for significant transformations as industry leaders continue to enhance product offerings and invest in technological advancements. Key developments expected to shape the market include:

Expansion into New Industries: Sectors such as healthcare, logistics, and agriculture are set to integrate cobots for improved efficiency and automation.

Advancements in AI & Machine Learning: Enhanced AI capabilities will allow cobots to become more autonomous and adaptable to complex environments.

Increased Collaboration Between Human and Robot Workers: Future cobots will exhibit greater dexterity and intelligence, working even more seamlessly alongside human workers.

Government and Industry Support: Favorable policies and incentives promoting automation and workplace safety will further accelerate cobot adoption.

Regional Outlook

Asia Pacific remains the leading market for collaborative robots, accounting for 34.2% of the total market share in 2023. The region's robust manufacturing sector, particularly in China, Japan, and South Korea, is driving demand. North America and Europe also show strong growth potential, fueled by technological advancements and an increasing focus on automation in industries such as healthcare and logistics.

Key Players and Competitive Landscape

Companies Profiled       

ABB Group

Brooks Automation Inc.

DAIHEN Corporation.

FANUC CORPORATION.

Kawasaki Heavy Industries Ltd.

KUKA AG

Mitsubishi Electric Corporation.

OMRON

Schneider Electric SE

Yaskawa Electric Corporation.

Other Key Players

Recent Key Developments

April 2023: Universal Robots launched the UR20, featuring a 20 kg payload capacity and an extended reach, making it ideal for handling heavier tasks.

March 2023: FANUC enhanced its CRX series of cobots with AI-powered capabilities, enabling more intuitive programming and smoother integration into manufacturing workflows.

February 2023: ABB introduced the GoFa cobot, designed with advanced safety features for diverse applications, including material handling and assembly.

About Transparency Market Research

Unlocking efficiency with collaborative robots represents a significant leap forward in industrial automation. These versatile machines are designed to work in tandem with human operators, facilitating a harmonious interaction that optimizes productivity. Collaborative robots, or cobots, streamline various tasks across industries, from assembly and packaging to quality control and material handling. By seamlessly integrating into existing workflows, they not only enhance production speed but also improve precision and reduce errors. The result is a more efficient and cost-effective manufacturing process, making collaborative robots a game-changer in the quest for operational excellence.

With the advancements in technology, robotics is becoming available at a price that suits the pockets of even smaller as well as bigger companies. All thanks to the development of low-cost components, which have paved way for theupsurge of the collaborative robots or cobots .Collaborative robots are intended to collaborate with humans at work sites, and hence making automation a trouble-free job for businesses of all sizes. By now, cobots have been seen as a game-changer for a wide variety of applications.

Why cobots over traditional robots?

The new robotics technology is outdoing the weighty, daunting robots usually locked in the cages for security reasons. Now, it’s time to make use of cobots in those heavy industrial tasks! These robots are quite affordable, safe, and flexible to deploy. They are programmed to work in collaboration with humans and not under humans—unlike traditional robots. With these advanced-automated robots, you can forget the cages and make way for proper communication with them.

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Here are some benefits of cobots over traditional robots.

1. Boosts accuracy and quality

A collaborative robot is more or less like an associate and can take care of any of the complex, sensitive task. Unlike traditional robots, collaborative robots are skilful enough of lifting up an item and handing it over to a person.

A tangible example of this is a car assembly line in which one cobot assembles a wheel and the other works on fixing the bonnet, whereas human staff works alongside on other important tasks. In this case, quality and accuracy both are enhanced.

2.  Allows to concentrate on the core jobs

In a workplace, cobots can be assigned to carry out heavy or very low value-added tasks. This helps in shifting the focus of technicians on core business tasks and add value to the business. Thus, human intelligence can be applied on other important parts of the production line.

3. Offers safe company

As cobots are functioned to work in co-operation with human coworkers, they are armed with features that allow smooth collaboration. One example of such a robot is the Baxter robot developed by Rethink Robotics. This robot is built using detection sensors, which helps it to understand where its coworkers are at a particular moment.

Also, Baxter is functioned to instantly halt its work if it signifies any kind of threat for an individual nearby. This eradicates the necessity to setup protected enclosures, as the cobot’s safety features are deliberate to function among human workers.

4. Highly scalable and flexible

Cobots can be easilyprogramed, whereas traditional robots demand computer programming abilities. Moreover, cobots are good learners. For instance, while explaining a new task to the Baxter, the operator just needs to perform the required actions using the robot’s arm. The cobot will then remember these actions and repeat them. This innovative learning-by-doing method is a tactic that any non-technical operators can easily learn and implement.

5. Easy on the pocket

Cobots are reasonably priced, hence they must not be restricted to a single task. Instead, they can be incorporated into several projects, making them much more profitable.

They can be effortlessly reprogrammed, relocated (by placing them on a mobile base) and redeployed at varied stages in the production cycle.

6. No need of safety barricades

With cobots there is no need of cages to maintain human safety, as these robots are fitted with cameras and sensors that constantly scan their surroundings. Every time they come across a human, they stop!

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The bottom line

From industrial manufacturing sites, PLC automation to offices, these collaborative equipment can manage a variety of tasks including packing of merchandises, palletising, assembling, machine tending, and many more.

Increasing proliferation of IoT, artificial intelligence, and other such technologies has transformed the robotics industry and largely impacted the industrial sector over the recent times. The evolution of robotics has now enabled us to see robots being used for a plethora of applications from industrial manufacturing to the battlefield, possessing unprecedented capabilities. BIS Research has an extensive expertise in robotics technology research, covering different areas such as industrial robots, service robots, exoskeletons, and humanoid. We offer insightful market intelligence reports to clients across the globe and help them navigate in the disruptive environment.

Precimotion is a leading company for Pick & place gantry robots in Delhi. It is a high speed robot for picking and sorting of items from the conveyor belts. We are also the provider of various techniques, Servo planetary, strainwave gearboxes, Six axis collaborative robots and so on.

We are the manufacturer of Six axis collaborative robot in Delhi. Our company is committed to provide clients at home and abroad with one- stop automatic welding and cutting solutions. Our main products are Servo planetary, Strainwave gearboxes, Pick & place gantry robots and AGV.

Interested in buying a cobot but worried about a complicated setup? Watch this video to see how easy it is to set-up a Techman cobot (in under three minutes!).

Interested in buying a cobot but worried about a complicated setup? EandM is here to help! Watch this video to see how easy it is to set-up a Techman cobot (in under three minutes!). You’ll get to preview the included accessories and the initial setup! Questions? Click here to contact us!

Cobots have shown good potential in the new emerging application during the COVID-19 pandemic. Cobots are being used for COVID-19 testing and disinfecting purposes. Researchers at the University of Southern Denmark (SDU) developed a system for collecting the patient’s sample for the COVID-19 test. The system has Universal Robot’s UR3 cobot arms and a custom 3D-printed end-effector for taking a throat swab sample. Furthermore, researchers at Nanyang Technological University developed an automated disinfection system in which a cobot is mounted on a mobile platform fitted with an electrostatic spray nozzle for spraying the sanitizer. The major players in the cobot market are coming up with a range of product launches in order to generate public awareness about their existing as well as new products and to contest the competitors’ product portfolio. Product launches and developments are among the most significant strategies for gaining a competitive advantage in this growing industry. While new companies are venturing in the market with modern and technologically advanced products, the existing players are investing in exploring highly efficient technologies in the cobot market. The competitive benchmarking chart, provided as follows, is based on the positioning of the leading companies in the market based on two parameters, namely depth in product portfolio and business strategy excellence. The depth in product portfolio consists of factors such as cobot offerings according to different payload, software and applications related to cobot, and product and upgradation in the last three years. Business strategy excellence consists of factors such as geographical presence, inorganic growth strategies (mergers and acquisitions and partnerships and collaborations), and funding and research and development activities. Industry safety standards can be seen as the guiding principles providing a universal guideline to all the companies and a set of rules on which the companies can operate. The safety standards specify guidelines for risk assessment in order to help meet the demand of end users. The collaborative robots, being nascent in the robot industry, come in the ambit of industrial robots safety standards, but separate industrial standards are being developed to guide the collaborative robots company to come up with safer products. For instance, ISO 15066 is the most recent standard developed for collaborative industrial robots. The standard specifically incorporates guidelines that would ensure safety for humans who would share their workspace with collaborative robots. Collaborative robots have opened up a new dimension of automation across multiple industries. Unlike heavy industrial robots, collaborative robots share workspace with humans, augmenting their capabilities and capacities. The technology proves to be a boon, especially to the small and medium enterprises (SMEs), as it helps them to scale up easily with less manpower.