Growing focus on the technological advancements by the major manufacturers, rising application by the food and beverages industry especially in the developing economies, and growing demand for automotive applications owing to the increased production of automobiles are the major factors attributable to the growth of the collaborative robot market. Data Bridge Market Research analyses that the collaborative robot market will exhibit a CAGR of 45.9% for the forecast period of 2021-2028.
Collaborative robots are the robots that are capable of handling multiple tasks at a single point of time. Collaborative robots are designed in a way that works on the same task repeatedly but independently. Collaborative robots are used in a wide range of industry verticals owing to features offered by them such as hand guiding, speed and separation monitoring, and power and force limiting.
Rising demand for advanced equipment in electronics and automotive will emerge as the major market growth driving factor. Growing rate of industrialization especially in the developing economies, surging return on Investment (ROI) derived from the deployment of industrial collaboration and acceleration in implementation of IT and IOT technologies in various operations will further aggravate the market value. Growing demand for automation in the healthcare industry and rising availability of software packages to provide important value addition will further carve the way for the growth of the market.
However, dearth of knowledge and technological expertise and lack of awareness in the backward economies will act as a growth restraint for the market. Traditional industrial robots are better equipped to handle heavier and larger materials and this will further dampen the growth rate of the market. Payload and speed limitations of collaborative robots owing to their inherent design and global crisis in the manufacturing sector and supply chain materials will further challenge the market growth rate.
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Asia-Pacific Collaborative Robot Market Country Level Analysis
The collaborative robot market is analysed and market size, volume information is provided by country, component, solution, safety method, payload capacity, application and end user as referenced above.
The countries covered in the collaborative robot market report are China, Japan, India, South Korea, Australia, Singapore, Indonesia, Thailand, Malaysia, Philippines and Rest of Asia Pacific.
Emerging economies like India, South Korea, Taiwan and China in Asia-Pacific dominate the fuse market and will continue to flourish its trend of dominance during the forecast period. This is because of the growing industrialization, rapid emphasis on the miniaturization trend in the electronics industry, increased demand in the adoption level of collaborative robots by the automotive industry and rising focus on technological innovations.
The country section of the collaborative robot market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Asia-Pacific Collaborative Robot Market Share Analysis
The collaborative robot market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to the collaborative robot market.
The major players covered in the collaborative robot market report are ABB, Universal Robots, Nachi Robotic Systems, Inc, Rethink Robotics, KUKA AG, FANUC Corporation, Robert Bosch GmbH, Kawasaki Heavy Industries, Ltd, Precise Automation, Inc., MRK-Systeme Gmbh, Energid Technologies Corporation, FP Robotics AG, Productive Robotics, Inc., MABI ROBOTIC AG, Quanta Storage Inc., Franka Emika GmbH, AUBO Robotics, Techman Robots, Stäubli International AG, YASKAWA ELECTRIC CORPORATION, Comau S.p.A., Teradyne Inc., Automatica Kassow Robots, Vecna, Robotiq Inc., and OMRON Corporation among other. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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Asia-Pacific Collaborative Robot Market Scope and Market Size
The collaborative robot market is segmented on the basis of component, solution, safety method, payload capacity, application and end user. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of components, the collaborative robot market is segmented into hardware and software.
- On the basis of solution, the collaborative robot market is segmented into safety light curtain, safety laser scanner, camera based 3D space monitoring system, and safe gripping.
- On the basis of safety method, the collaborative robot market is segmented into speed and separation monitoring, power and force limiting, safety-rated monitored stop, and hand guiding.
- On the basis of payload capacity, the collaborative robot market is segmented into up to 5kg, 5Kg to 10Kg, and above 15Kg.
- On the basis of application, the collaborative robot market is segmented into material handling, quality inspection, pick and place/drop, packaging and pelletizing, machine tending, molding operations, gluing and welding, test and inspection, assembly, polishing, lab analysis, entertainment, and others.
- On the basis of end user, the collaborative robot market is segmented into electrical and electronics, furniture and equipment, automotive, aerospace and defense, pharmaceuticals, plastics and polymers, metals and machining, food and beverages, cosmetics, and others.
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