global collaborative robot market is estimated to grow at a CAGR of over 40% during the forecast period. The key players that are dominating the global collaborative robot market include ABB Group, Hyundai Robotics, a division of Hyundai Heavy Industries Holdings, FANUC Corp., Yaskawa Electric Corp., KUKA AG, and EPSON Robots, among others. The companies are constantly contributing to attracting customers and staying competitive in the global collaborative robot industry. For instance, in May 2023, Universal Robots announced a new partnership with Denali Advanced Integration. This partnership combines industry-leading technology with industry-leading services. The combination of Denali, an experienced IT/OT partner, with Universal Robots, allows them to bring the best automation designs to customers while driving a strong return on their technology investments.
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Moreover, in June 2022, Doosan announced a new expansion of the Doosan Robotics business unit that focuses on servicing and selling robots in different industrial markets. Along with the announcement of Doosan Robotics Americas, a new line of collaborative robots is being added to the existing product line that promises some new, innovative ways to bring humans and industrial machines closer together. These robots are specifically designed to work alongside humans in the food and beverage industries, entertainment, and content creation, at home, or even at the office. In February 2020, the NRI-2.0 program builds upon the original National Robotics Initiative (NRI) program to support fundamental research in the US that accelerate the development and use of collaborative robots (co-robots). The focus of the NRI-2.0 program is on ubiquity, which in this context means the seamless integration of co-robots to assist humans in every aspect of life.
In addition, an increase in automation in various industries such as automotive manufacturing companies, favorable government policies and regulations, rapid technological advancements, and a rise in demand for robots globally drives the market growth. Sales of industrial robots in India reached a new record of 4,945 units installed in 2022, an increase of 54% compared to 2021 according to the International Federation of Robotics (IFR). The automotive industry remains the largest customer for the robotics industry in India with a share of 31% in 2021.
Market Coverage
• The market number available for – 2022-2030
• Base year- 2022
• Forecast period- 2023-2030
• Segment Covered-
o By Application
o By Vertical
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- ABB Group, Hyundai Robotics, a division of Hyundai Heavy Industries Holdings, FANUC Corp., Yaskawa Electric Corp., KUKA AG, EPSON Robots, and others.
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Collaborative Robots Market Report Segment
By Application
By Vertical
Global Collaborative Robots Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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