Global collaborative robot market size was valued at US$ 791.0 million in 2022, exhibiting a compound annual growth rate (CAGR) of 46.24% from 2022 to 2030.
Increasing demand for automation in different industries such as healthcare, automotive, food and beverages, metal and machining, plastic and polymers, retail, and others is expected to drive the global collaborative robot market growth.
Global Collaborative Robot Market- Trends
Rising demand for automation in different industries
Rising demand for automation in different industries such as healthcare, automotive, food and beverages, metal and machining, plastic and polymers, retail, and others is expected to fuel growth of the global collaborative robot market. Collaborative robots are used to automate processes such as product assembling, packaging, labeling, pumping, welding, painting, spraying, material handling, and others in the companies. For instance, in food and beverages industry collaborative robot are used to fill large number of food packages in few minutes. In manufacturing industry, collaborative robot are used to assemble parts of the product.
Rising Demand for Heavy Construction Equipment Automation
Rising demand for automation of heavy equipment in construction industry along with demand for drilling, driverless demolition, and earth-moving equipment is expected to drive the market growth. For instance, Built Robotics Software, received US$ 33 million funding from Next47, the global venture fund in 2020.
Collaborative Robot Market Report Snapshots
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