COLLABORATIVE ROBOT MARKET ANALYSIS

Collaborative Robot Market,By Payload (Up to 5 Kg, 6-10 Kg, 11 Kg, and Above 11 Kg), By Component (Hardware and Software), By Application (Welding and Soldering, Material Handling, Assembling and Disassembling, Processing, Dispensing/ Painting / Spraying, and Others (Molding, Quality Testing, etc.)), By End use Industry (Healthcare, Automotive, Food and Beverages, Metals and Machining, Plastic and Polymers, and Others (Retail, Electronics, Furniture and Equipment, etc.)), By Region (North America, Latin America, Europe, Middle East & Africa, and Asia Pacific)

Published In : May 2023
Code : CMI4667
Pages :170
Formats :
Excel and PDF
Industry : Information and Communication Technology

Collaborative Robot MarketSize and Trends

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.