How Is the Rise of Industry 4.0 Affecting the Growth of Collaborative Robots?

What is the Growth Potential of the Collaborative Robot Market?

The collaborative robot (cobot) market is projected to experience significant growth from USD 3.7 billion in 2024 to USD 60.3 billion by 2033, growing at a remarkable CAGR of 36.47%. The market's expansion is largely driven by increasing automation across industries, advances in robotics technology, and the rising need for labor-efficient solutions. These robots are revolutionizing manufacturing, logistics, and other sectors by enhancing productivity and facilitating human-robot collaboration.

Study Assumption Years:

• Base Year: 2024
• Historical Year: 2019-2024
• Forecast Year: 2025-2033

Collaborative Robot Market Key Takeaways:

• The collaborative robot market is projected to grow from USD 3.7 billion in 2024 to USD 60.3 billion by 2033, with a CAGR of 36.47% during 2025-2033.
• Rising demand in logistics, especially for automated processes like sorting and packing, is accelerating the market's growth.
• Advances in torque and force-sensing technologies are improving the capabilities of collaborative robots.
• The adoption of collaborative robots is prominent in industries like automotive, electronics, food & beverage, and pharmaceuticals.
• North America leads in market growth due to its advanced manufacturing and automation technologies.
• Companies like ABB Ltd., Doosan Robotics, and Universal Robots are major contributors to market innovation.

What Are the Key Growth Factors for the Collaborative Robot Market?

Technological Advancements Fueling Market Growth

Advancements in sensor tech like vision and torque sensors are changing what collaborative robots can do. These improvements help robots with tasks needing careful movements, such as handling fragile items or working with people while keeping safety intact. For example, adding vision systems lets robots accurately recognize and handle objects, boosting productivity in various fields. As these technologies keep evolving, more industries will likely adopt them for safe and effective automation.

Labor Shortage and Demand for Efficient Automation

A key factor boosting collaborative robots is the ongoing lack of skilled workers. These robots serve as a great option by taking on repetitive and hard tasks, which lowers the need for human labor. This change is very useful in sectors like manufacturing and logistics. Here, robots can work with humans to enhance output and address workforce gaps. As businesses struggle to make operations smoother and stay competitive, cobots provide a way to meet these objectives while keeping workers safe and cutting costs.

Increasing Integration in Industrial and E-Commerce Sectors

The market for collaborative robots sees strong interest from both industrial and e-commerce fields. In industrial settings, these robots ramp up production by doing precise work such as assembly, welding, and packaging alongside human workers. In e-commerce, cobots streamline logistics through automation in sorting, picking, and packing, greatly boosting efficiency. The fast growth of e-commerce, especially in places like Asia Pacific, drives the need for collaborative robots as companies seek flexible options for increasing order quantities.

Market Segmentation

• By Component
  • Hardware: Includes physical elements such as sensors, actuators, and controllers that allow collaborative robots to perform tasks.
  • Software: Includes the programming and control systems that govern robot behavior and interaction.
• By Payload
  • Up to 5 Kg: Cobots with this payload range are ideal for light tasks such as assembly and small part handling.
  • 5-10 Kg: Suitable for more demanding applications like product handling and packaging.
  • Above 10 Kg: High-payload robots used for heavy-duty applications like welding, assembly, and material handling.
• By Application
  • Material Handling: Includes tasks such as moving, lifting, and storing materials.
  • Pick and Place: Robots are used for automated picking and placing of objects with precision.
  • Assembly: Collaborative robots assist in assembly lines for tasks like component fitting and packaging.
  • Palletizing and De-Palletizing: Cobots manage the stacking and unstacking of goods in warehouses and manufacturing.
  • Others: Includes specialized tasks like machine tending and inspection.
• By End-Use Industry
  • Automotive: Robots assist in tasks like assembly, painting, and material handling in automotive manufacturing.
  • Electronics: Cobots perform tasks such as component placement, inspection, and assembly.
  • Manufacturing: Collaborative robots support various tasks across the manufacturing process, including assembly and packaging.
  • Food and Beverage: Used for packaging, sorting, and handling in food processing plants.
  • Chemicals and Pharmaceuticals: Automates tasks like sorting and packaging in these highly regulated industries.
  • Others: Includes other industries like aerospace and retail.
• Breakup by Region
  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

What are the Key Regional Insights for the Collaborative Robot Market?

North America leads the collaborative robot market thanks to advanced manufacturing and high rates of automation adoption. Companies like ABB and Universal Robots play a significant role, along with the region's commitment to Industry 4.0 further pushing growth. Plus, the rising need for collaborative robots in areas like automotive manufacturing and logistics cements this leadership.

What Are the Recent Developments and News in the Collaborative Robot Market?

Recently, OMRON Automation introduced the TM S Series Collaborative Robots in India to boost factory productivity in shared work areas. Furthermore, Schneider Electric launched the Lexium Cobot, a collaborative machine aimed at enhancing safety and efficiency in industrial settings. These innovations show how collaborative robot technology keeps advancing, allowing for quicker, safer, and more flexible automation solutions across various industries.

Who Are the Key Players in the Collaborative Robot Market?

• ABB Ltd.
• AUBO (Beijing) Robotics Technology Co. Ltd.
• DENSO WAVE Incorporated (Denso Corporation)
• Doosan Robotics Inc. (Doosan Group)
• Fanuc Corporation
• Kawasaki Heavy Industries Ltd.
• KUKA AG (Midea Group)
• Omron Corporation
• Precise Automation Inc. (Brooks Automation Inc.)
• Rethink Robotics GmbH
• TechMan Robot Inc. (Quanta Storage Inc.)
• Universal Robots (Teradyne Inc.)
• Yaskawa Electric Corporation

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

About Us:

IMARC Group is a global management consulting firm that helps the world’s most changemakers to create a lasting ambitious impact. The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, considerations studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.