Global Collaborative Robot Market is expected to foresee significant growth.

Global Collaborative Robot Market is expected to reach the market valuation of US$ XX billion by 2027 expanding at a reasonable CAGR of XX % during the forecast period (2021-2027) from US$ XX billion in 2020. It is mainly attributed due to the increasing focus on ongoing and upcoming trends such as digitization, IoT and Industry 4.0 coupled with the rising number of automotive manufacturing plants and rapid urbanization in the region. Moreover, the high return on investment (ROI) derived from the deployment of collaborative robots and its benefits for businesses of all sizes in terms of general competitiveness, increased production, and enhanced product quality which in turn would proliferate the market demand for cobots in projected years.

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For a detailed analysis of the Global Collaborative Robot Market browse through–https://univdatos.com/report/collaborative-robot-market/

Collaborative robot is a type of robot which is capable of performing multiple tasks, as assisted by the humans. They have additional features, such as safety monitored stop, hand guiding, speed and separation monitoring, and power & force limiting. There are numerous types of collaborative robots that are used in industries like safety monitored stop is used to stop the functioning of robot when the safety zone violates; hand guiding is used for path teaching and detection of applied forces, speed and separation monitoring is used for operations requiring frequent worker presence, and power & force limiting is used for the direct collaboration with workers. Factors that are escalating the demand for collaborative robots such as lower price of collaborative robots are the and rising demand in the logistics in various application expected to increase its market share in the forecasted period.

For a detailed analysis of the market drivers browse through

Factors that are driving the market share of collaborative robots such as surging awareness among the industrial accidents and employee safety coupled with adoption of cobots in the manufacturing facilities with an aim to optimize production and process and reduce overall time and cost. Moreover, increasing deployment of collaborative robots in various agricultural activities for mapping soil, crop and other system expected to derive the demand for market.For instance: According to a study by UiPath, over 88% of the organizations believe that automation will accelerate human achievement and effective when it complements humans.

For a detailed analysis of the Components browse through

Based on components, currently, hardware acquired extensive share in the collaborative robot market in the past few years. These robots are larger and require a significant amount of fixed and interlocked engineering controls. Collaborative robots require robotic arms, various types of robot accessories such as controller, end-effectors, grippers, vision systems. It also requires additional hardware such as fixtures, conveyors, and safety fencing as these robots, unlike collaborative robots that operate from within the fencing. However, in the projected year, software segment is expected to cater significant market presence.

For a detailed analysis of the Covid-19 Impact on the Market browse through

The outbreak of coronavirus pandemic in 2020 has adversely impacted the market share of collaborative robots. The restriction imposed across the globe on travel and shutdown of all the industrial and commercial activities, manufacturing industries, others have disrupted the demand for collaborative robots. However, robotics and automation are playing a very crucial role as the world is continuously fighting the rapid spread of the COVID-19 pandemic in healthcare industry. The collaborative robots helping to safeguard the people and in processing the supplies that people need as they are shifting towards remote working and home learning.

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Additionally, the report provides detailed initiatives that are being taken in the field of Collaborative Robot market. The market is classified into distinct regions including North America, Europe, Asia Pacific, and the Rest of World. North America dominated the Global collaborative robot Market, accounting for nearly xx% share in 2020 as the region houses major Collaborative robot companies, predominantly because of USA which has the most usage of smart devices & manufacturing industries.

Global Collaborative Robot MarketSegmentation

Market Insight, by Components

• Hardware
  • Robotic arm
  • End Effector or End of Arm Tool
  • Welding Guns
  • Grippers
  • Drives
  • Controllers
  • Sensors
  • Power Supply
  • Motors
  • Others
• Software

Market Insight, by Pay Load

• Less than 5Kg
• 5-9 Kg
• 10-20 kg
• Greater than 20 kg

Market Insight, by End-User Industry

• Electronics
• Automotive
• Manufacturing
• Food and Beverages
• Chemicals and Pharmaceutical

Market Insight, by Application

• Material Handling
• Pick and Place
• Assembly
• Palletizing and De-palletizing
• Other (Welding, Painting, Soring, Positioning, etc.)

Market Insight, by Region

• North America
• Europe
• Asia Pacific
• Rest of the world

Top Company Profiles

• Universal Robots
• FANUC
• ABB
• Techman Robot
• KUKA
• Doosan Robotics
• Denso
• YASKAWA
• Precise Automation
• Rethink Robotics