Latest Report on Collaborative Robot (Cobot) Market worth

Chicago, March 05, 2023 (GLOBE NEWSWIRE) -- The report "Collaborative Robot Market by Component, Payload (Up to 5 Kg, 5-10 Kg, and Above 10 Kg), Application (Handling, Processing), Industry (Automotive, Electronics, Healthcare, Furniture & Equipment) and Geography - Global Forecast to 2028" The global collaborative robot market is projected to grow from USD 1.1 Billion in 2022 to USD 9.2 Billion by 2028, at a CAGR of 41.5% during the forecast period from 2022 to 2028.

The growth of this market is driven by factors such as high return on investment as compared to the traditional industrial robotic system, increasing demand in the e-commerce and logistics industries due to contingency of COVID-19, cobots to benefit businesses of all sizes, and increased ease of programming of collaborative robots. However, higher preference for low payload capacity traditional industrial robots over cobots in heavy-duty industries restrain the growth of the collaborative robot market.

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Browse in-depth TOC on " Collaborative Robot (Cobot) Market”

214 – Tables

55 – Figures

291 – Pages

Key Market Players

  • Universal Robots A/S (Denmark),
  • FANUC Corporation (Japan),
  • ABB (Switzerland),
  • Techman Robot Inc (Taiwan),
  • KUKA AG (Germany),
  • Doosan Robotics Inc. (South Korea),
  • Denso Corporation (Japan),
  • Yaskawa Electric Corporation (Japan),
  • AUBO (Beijing) Robotics Technology Co., Ltd (China), and
  • Rethink Robotics GmbH (US),
  • Omron Adept Technologies, Inc. (US),
  • Franka Emika GmbH (Germany).

Universal Robots A/S develops and manufactures collaborative robots (cobots) to automate and streamline repetitive industrial processes. The company raised its initial phase of funding from Syddansk Innovation (Denmark). It was subsequently acquired by the automated equipment manufacturer, Teradyne Inc. (US), in June 2015. It supplies its collaborative robots to various industries such as automotive and subcontractors, electronics and technology, metal and machining, food and beverage, plastic and polymers, medical and cosmetics, education and science, and more industries. Universal Robots exclusively develops collaborative robots, and its product portfolio includes the UR3e, UR5e, UR10e, UR16e, and UR20 robot arms, named after their payload capacity in kilograms.

The new UR20 robot comes with a 1750 mm reach and 20 kg payload capacity, URs next generation cobot handles more tasks, fits more applications, and assists in more environments than ever before. The UR20 is built for higher payloads, faster speeds, and superior motion control all within a lightweight, small footprint system for optimal versatility within your existing production space. No special electrical hookups or costly wiring solutions are required. Even with the big step up in performance, a single-phase standard power outlet is all that’s needed to power the UR20 The company offers the UR+ Solutions platform, providing plug-and-play robot accessories and software from third-party manufacturers such as Robotiq (Canada), Zimmer Group (Germany), PIAB (Sweden), ATI (US), SICK (Germany), and Vention (Canada).

Universal Robots is currently one of the most well-known players in the collaborative robot market. The safety system of the robots is approved and certified by TÜV (The German Technical Inspection Association). The major applications of these robots include pick and place, injection molding, packaging, palletizing, quality inspection, screw-driving, polishing, machine tending, injection molding, lab analysis, testing, gluing, painting, and welding.

The company has 29 offices in 20 countries, including Denmark, the US, Germany, France, Spain, Italy, the Czech Republic, Turkey, China, India, Bangladesh, Singapore, Japan, South Korea, Taiwan, and Mexico. Universal Robots has a global network of around 800 distributors, 400+ certified products & almost 300+ approved developer companies.

In January 2022, the company reported a record annual revenue of USD 311 million, 41% up in 2020 and 23% up on pre-pandemic results in 2019.

FANUC Corporation operates its business through four divisions—FA (Factory Automation), ROBOT, ROBOMACHINE, and Service. The FA Unit encompasses basic technologies consisting of NCs, servos, and lasers, which are also applied to the ROBOT and ROBOMACHINE Units. All collaborative robots are offered under the ROBOT division. Robots offered by the company contribute to automation in the automotive, electric, food & beverages, and pharmaceutical industries, among others. Although the company is known for its traditional industrial robots, it also offers various collaborative robots. FANUC provides collaborative robots that can handle payloads of up to 35 kg, which is higher than the average payload of most collaborative robots available today. These collaborative robots also feature rubberized surfaces to reduce the effects of any collisions and have a distinctive neon green color to differentiate them from the company’s traditional robots. In 2015, FANUC launched its first collaborative robot, the CR-35iA, with a payload capacity of 35 kg and reach of 1,813 mm. Subsequently, the company launched smaller collaborative robots with lower payload capacities. For instance, FANUC offers the CR-4iA collaborative robot with payload capacity and reach of 4 kg and 550 mm, respectively, and the CR-7iA and CR-7iA/L with payload capacities of 7 kg (each) and a reach of 717 mm and 911 mm respectively. Currently the company offers seven collaborative robots in the CR Series range and five collaborative robots in the CRX Series range.

FANUC operates in the APAC, the Americas, Europe, and other regions. Its sales and support services are undertaken through an integrated network of central technical centers and branch offices as well as overseas group companies worldwide; the company has a presence in 100+ countries and 270 service locations. Some of its major subsidiaries are FANUC America Corporation (US), FANUC Europe Corporation (Luxembourg), Beijing-Fanuc Mechatronics Co., Ltd., SHANGHAI-FANUC Robotics CO., LTD., FANUC INDIA Private Limited, Taiwan Fanuc Co., Ltd., and Korea Fanuc Corporation.

ABB is a leading supplier of industrial robots and modular manufacturing systems and services. Its operations are organized through 4 business divisions—Electrification, Motion, Industrial Automation, and Robotics & Discrete Automation. All industrial robots offered by the company are handled by its Robotics & Discrete Automation business segment. More than 300,000 ABB robots are estimated to be installed worldwide. ABB’s robotics solutions are used in various industries, such as automotive, metal fabrication, foundry, plastics, food & beverage, chemical, pharmaceutical, consumer electronics, solar, and wood. Welding, material handling, painting, picking, packing, and palletizing are the general industry applications where ABB’s robotics solutions are used. The company’s product portfolio consists of traditional as well as collaborative industrial robots. The robots offered by ABB are of either articulated, parallel, or SCARA design. In addition to standalone robotic arms, the company also provides a variety of special-purpose robots, such as painting robots and door-opening robots. The payload capacity of robots offered ranges from 0.5 kg to 800 kg. ABB Ability Network is a network model for connecting multiple robots and robotic equipment to enable the monitoring and control of the automation process.

ABB has operations in around 100 countries across four regions—Europe, the Americas, Asia, and the Middle East & Africa. Some of its major subsidiaries are ABB Holdings Limited, Warrington (UK), ABB Norden Holding AB (Sweden), ABB Ltd., Seoul (South Korea), ABB K.K., Tokyo (Japan), ABB (China) Ltd., ABB Ltda., Osasco (Brazil), and ABB AG, Mannheim (Germany).

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Recent Developments

  • In July 2022, FANUC America Corporation (US), a leading supplier of CNCs, robotics, and ROBOMACHINEs, announces a West Campus expansion that will push its operational space in Oakland County, Michigan to nearly two million square feet. The construction will include a 655,000 square foot state-of-the-art facility to house manufacturing, engineering, and R&D projects.
  • In June 2022, Universal Robots A/S (Denmark) launched a new 20 kg cobot called the UR20 to its product range. A 20kg (44.1lbs.) payload capacity, which is 4kg more than UR’s previous heaviest load capability of 16kg with its UR16e cobot. Reach of 1750mm, which is 450mm more than the longest previous UR cobot reach of 1300mm with the UR10e.
  • In February 2021, ABB is expanding its collaborative robot portfolio with the new GoFa and SWIFTI cobot families, offering higher payloads and speeds, to complement the YuMi and Single Arm YuMi in ABB’s cobot line-up. These stronger, faster, and more capable cobots are expected to accelerate the company’s expansion in high-growth segments including electronics, healthcare, consumer goods, logistics, and food & beverage, among others, meeting the rising demand for automation across multiple industries.

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Latest Report on Collaborative Robot (Cobot) Market worth
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