Market Size – USD 680.3 Million in 2019, Market Growth – CAGR of 38.5%, Market Trends –Growing demand for cobots in the wake of COVID-19 pandemic
Cobots or Collaborative robots are revolutionizing the human-robot interactions in various end-user industries, including automotive manufacturing, electronics, food & beverage, plastics & polymers, furniture & equipment, healthcare, and logistics industries, among others. Cobots help by functioning side-by-side the human workforce, thereby reducing cost, time, and floor space when compared to traditional robots.
The benefits provided by cobots in the logistics industry is a significant factor driving the market demand. The growing pace of the e-commerce sector plays a crucial role in the demand for cobots to enhance efficiency while decreasing costs. In the warehouses, the human workforce doesn’t have to stride the routes for goods collections; thus, saving labor and time, along with mitigation of errors. From the customer point of view, it turns out to be faster delivery of goods, whereas, for workers, it results in shifting attention to other crucial responsibilities. In 2017, DHL Supply Chain made an announcement about the commencement of a pilot test with the LocusBots™ cobots. The firm conducted the pilot test within the facility of a firm dealing in life sciences in Tennessee.
The COVID-19 pandemic has a huge impact on the global industrial sector, especially the manufacturing sector, with the imposition of the mandatory regulations such as social distancing rules, and restricting the number of people working at a specific location. The firms in the manufacturing sector can overcome such concern by deploying automation in their production facilities and assembly lines. Cobot is a niche solution for automation, offering the most effective, cost-efficient, and flexible way for plants seeking automation to lessen dependence on external factors. During the pandemic, collaborative technology is beneficial in mitigating the significant concern for manufacturers to safeguard the workforce while maintaining their workflow.
Regional Scope- North America; Europe; Asia Pacific; Central & South America; MEA
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Key participants include FANUC, Aubo Robotics, Universal Robots, Yaskawa, KUKA, Techman Robot, Precise Automation, ABB, Rethink Robotics, and Doosan Robotics, among others.
Payload Capacity Outlook (Revenue, USD Billion; 2017-2027)
Less than 5 Kg
5 Kg to 10 Kg
Above 10 Kg
Application Outlook (Revenue, USD Billion; 2017-2027)
Handling
Assembling & Disassembling
Dispensing
Welding & Soldering
Processing
Others
End Users Outlook (Revenue, USD Billion; 2017-2027)
Automotive
Electronics
Plastics & Polymers
Furniture & Equipment
Metals & Machining
Food & Beverages
Healthcare
Others
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Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Cobots Market Segmentation & Impact Analysis
4.1. Cobots Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Growing prevalence of adverse drug reactions and toxicity
4.2.2.2. Rise in drug consumption and development rates
4.2.2.3. Growing trend towards outsourcing Cobots
4.2.3. Market restraints analysis
4.2.3.1. Dearth of skilled professionals
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 5. Cobots Market By Type Insights & Trends, Revenue (USD Million)
5.1. Type Dynamics & Market Share, 2019 & 2027
5.1.1. Spontaneous Reporting
5.1.2. Intensified Adverse Drug Reaction (ADR) Reporting
5.1.3. Targeted Spontaneous Reporting
5.1.4. Cohort Event Monitoring
5.1.5. Electronic Health Record (EHR) Mining
Continue…
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