Market Challenges And Opportunities

Global Collaborative Robot Market- Drivers

Rising urbanization

Rising urbanization all over the world is expected to drive the market growth. For instance, in 2021 according to data published by World Bank data, nearly 55% of the global population, or 4.2 billion individuals live in cities. Urban population globally is likely to double with 7 out of 10 people around the globe living in the cities. Rising urbanization, increasing demand for affordable housing are expected to drive the market growth. Rising demand for housing leads to construction activities, and this is expected to boost demand for collaborative robot in the near future.

Stringent Regulations by Government Regarding Worker’s Safety

Construction industry due stringent regulations by government regarding worker’s safety is driving the growth of global collaborative robot market. For instance, in 2021 as per Occupational Safety and Health Administration (OSHA) one in five deaths among workers in the U.S. is in the construction industry of the country. According to the same source, total 1,061 construction labors died in the U.S. on the job site. Thus, governments around the world are implementing regulations for equipment vendors, in order to make construction site and workplace safe. This is expected to drive growth of the global collaborative robot market over the forecast period.

Global Collaborative Robot Market- Opportunities

Rising adoption of robots in metals and machining industry

Rising adoption of robots in metals and machining industry and construction industry around the world is expected to offer growth opportunities in the global collaborative robot market over the forecast period. In construction industry collaborative robots are used in construction site for supplying material and helping in construction work.