Do. Mrz 28th, 2024

In terms of value, the global collaborative robot market was valued at $739.1 million in 2019 and is expected to reach $2,305.2 million in 2025 at a CAGR 27.85% during the forecast period 2020-2025. The overall ecosystem of the collaborative robot market comprises robot manufacturers, software providers, and component suppliers. The collaborative robot market has dominance in the developed regions such as Europe and North America and is gradually gaining popularity in regions such as the Asia-Pacific and the Middle East and Africa.

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The Asia-Pacific region dominated the collaborative robot market with a share of 54.36% in 2019. The total market size of collaborative robots in the Asia-Pacific region was valued $401.8 million in 2019, and the market size is projected to reach $1.29 billion by 2025, registering a CAGR of 28.49% from 2020 to 2025. This growth is mainly attributed to the rising demand for collaborative robots from various countries such as China, Japan, South Korea, and India.

On the other hand, the Europe collaborative robot market has been experiencing rapid growth since the past few years (2014-2018) owing to the rise in demand for automation solutions. However, Europe is expected to witness the growth rate of 27.72% during the period 2020-2025 to reach $659.4 million by 2025. The robust growth rate of the Asia-Pacific market is mainly due to the increased utilization of industrial automation solutions among SMEs. The growth of the region is expected to be mainly driven by the increasing focus of countries such as Germany, France, Italy, U.K., and Poland on increasing their manufacturing capabilities.

The collaborative robot market is one of the most highly competitive markets, with leading players competing intensely to gain a larger share in this business. The competitive landscape of the collaborative robot market shows companies adopting both organic strategies, including business expansions and product launches and inorganic strategies, including partnerships/ agreements /collaborations and acquisitions to gain a major share of the industry.

The global collaborative robot market is becoming increasingly competitive as new players are entering the market. A number of new players have emerged in the market that provides cobots with different payloads for different industries and applications. These companies compete in terms of technological innovation, functionality of the system, and cost. Leading companies such as ABB Ltd, Universal Robot A/S, Doosan Robotics, and others are adopting inorganic growth strategies such as partnerships and collaborations to strengthen their product portfolio. In order to proficiently persist and prevail in such a competitive environment, the key companies need to provide cost-effective and high-quality services. The existing companies, as well as new entrants, which employ innovative solutions to cater to the demand for different end users, are anticipated to benefit from this untapped market potential.

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Some of the key players in the global collaborative market include Aubo Robotics (the U.S.), Yaskawa Motoman (the U.S.), Bosch Rexroth AG (Germany), Comau SPA (Italy), Denso Robotics, Inc (Japan), Nachi Robotics System, Inc (Japan), Precise Automation, Inc. (U.S.), Productive Robotics, Inc. (U.S.), Seiko Epson Corporation (Japan), and Techman Robot (Taiwan).

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