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SAN FRANCISCO , Aug. 9, 2022 /PRNewswire/ -- The global collaborative robots market size is anticipated to reach USD 11.04 billion by 2030, exhibiting a CAGR of 31.5% over the forecast period, according to a new report published by Grand View Research, Inc. The growth can be attributed to the growing inclination of industries toward collaborative robots or cobots to automate manufacturing processes.

Key Industry Insights & Findings from the report:

Read 171-page market research report, "Collaborative Robots Market Size, Share & Trends Analysis Report By Payload Capacity, By Application (Assembly, Handling, Packaging, Quality Testing), By Vertical, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Collaborative Robots Market Growth & Trends

Over the past few years, the growing interest in robot technology across various industries has positively impacted the market. Unlike conventional industrial robots, cobots are developed to operate at par with their human counterparts. They are mobile and can be easily moved from one area of a manufacturing facility to another. Moreover, they can be programmed with ease, are more cost-effective than their fixed counterparts, and can be used in a wide range of low-speed, repetitive applications.

The increasing need for highly efficient and user-friendly robots that do not require highly skilled experts for deployment and functioning has created a significant demand for software platforms. These platforms allow the integration of robots, motion control, and the generation of an interface that enables the programming of such robots. For instance, in May 2020 , Mitsubishi Electric Corporation launched a cobot named MELFA ASSISTA equipped with RT VisualBox, the company's engineering software. This software allows the intuitive creation of operating sequences by connecting block diagrams in a chain of events, including linking with other devices, such as cameras and hands of the robot.

The increasing demand from industrial customers, researchers, and engineers is further strengthening the outlook of the collaborative robots industry. These robots are being deployed across various industries and have been highly influential in addressing the challenges faced by the logistics sector, such as complex work processes, and managing several tasks in different combinations and in compact spaces.

Grand View Research has segmented the global collaborative robots market based on payload capacity, application, vertical, and region:

Collaborative Robots Market - Payload Capacity Outlook (Revenue, USD Billion, 2018 - 2030)

Collaborative Robots Market - Application Outlook (Revenue, USD Billion, 2018 - 2030)

Collaborative Robots Market - Vertical Outlook (Revenue, USD Billion, 2018 - 2030)

Collaborative Robots Market -    Regional Scope (Revenue, USD Billion, 2018 - 2030)

List of Key Players in the Collaborative Robots Market

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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco , the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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SOURCE Grand View Research, Inc.

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