Global Collaborative Robot Market to Reach USD 1,990.2 Million by 2030, Outlines a New Report by Next Move Strategy Consulting

Increase in adoption by small and medium enterprises (SMEs) and large enterprises for their low-cost and other numerous benefits along with rise in implementation in the finance sector to carry out monotonous functions drive the collaborative robot market growth.


New York, July 28, 2022 (GLOBE NEWSWIRE) -- According to the report published by Next Move Strategy Consulting, the global collaborative robot (COBOT) market generated USD 700.1 million in 2021, and is projected to reach USD 1,990.2 million by 2030, registering a CAGR of 11.8% from 2022 to 2030. The research is a source of insights regarding changing market trends, drivers & opportunities, major segments, and competitive scenario. The research also outlines the market size & estimations along with analyzing leading market players in detail.

Offering a thorough analysis in more than 1,100 pages, the report aims to assist market players, investors, and stakeholders in availing necessary information and statistics represented through nearly 1,000 tables and around 1,000 figures. The report also analyzes the Covid-19 impact on the collaborative robot size.

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Report Coverage Details
Forecast Period 2022–2030
Base Year 2021
Market Size in 2021 USD 700.1 Million
Market Size in 2030 USD 1,990.2 Million
CAGR 11.8%
No. of Pages 1143
Tables 994
Figures 985
Segments covered Payload, Component, Application, Industry, and Geography.
Drivers Increase in adoption by small and medium enterprises (SMEs) and large enterprises for their low-cost and other numerous benefits
Rise in implementation in the finance sector to carry out monotonous functions
Opportunities The emergence of Industry 4.0
Technological advancements

The research offers extensive analysis of changing market dynamics with drivers, restraining factors, and opportunities of the global collaborative robot market. Increase in adoption by small and medium enterprises (SMEs) and large enterprises for their low-cost and other numerous benefits along with rise in implementation in the finance sector to carry out monotonous functions drive the growth of the market. On the other hand, limitations of collaborative robots regarding their speed and flexibility and scarcity of skilled workforce to handle them hinder the market growth.

Outlining the opportunities that are lying ahead for the global cobot market in the coming years, the Lead Analyst for the ICT & Media category at Next Move Strategy Consulting, stated, “The emergence of Industry 4.0 presents huge opportunities in the coming years for collaborative robot market. Moreover, technological advancements will create lucrative opportunities and raise adoption for cobots across various sectors.”

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The report offers a comprehensive analysis of major segments and their sub-segments of the global collaborative robot market. The report presents statistics and data in tabular and graphical formats for offering a better understanding. The report analyzes major segments such as payload, component, application, industry, and geography.

Based on payload, the report sub-segments the market into 5kg, 6-10kg, and 11kg and above. By component, the research bifurcates the market into hardware and software. The hardware segment is further sub-segmented into robotic arm, drives, end effectors, sensors, controllers, motors, power supply, and others. Based on application, the report sub-divides the market into handling, assembling and disassembling, welding and soldering, and processing and dispensing. On the basis of industry type, the report further categorizes the market into electronics, food and beverages, automotive, metals and machining, furniture and equipment, and others.

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Based on geography, the research sub-segments the market into North America, Europe, Asia-Pacific and RoW. As per the report, North America is estimated to maintain the highest contribution in terms of revenue during the forecast period. This is attributed to rise in surgeries in the region, surge in investments to accelerate robotics research, and supportive government initiatives. However, Asia-Pacific is projected to grow steadily over the forecast period, owing to rise in automation in sectors such as automotive, medical, and manufacturing, and surge in government investments to develop technologically-advanced robots.

The report also analyzes each region and its respective countries in terms of major segments and sub-segments. This analysis offers a detailed scenario of the market and helps market players in devising steps to be taken to raise the collaborative robot market share.

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The report highlights the competitive landscape of the global collaborative robot market. Leading market players analyzed in the report include ABB, Nachi Robot System, Yaskawa, Universal Robot, MRK- Systeme Gmbh, KUKA AG, FANUC, and AUBO robotics. These players are analyzed based on various parameters such as key strategies and developments, product portfolio, and business performance. They adopted the strategies such as new product launches, collaborations, partnerships, acquisitions, and others to gain a strong position in the global market.

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