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NEW YORK , June 22, 2022 /PRNewswire/ -- The "Collaborative Robots Market by Application and Geography - Forecast and Analysis 2021-2025" report has been added to Technavio's offering. The market is expected to observe an incremental growth of USD 1.08 billion between 2020 and 2025. In 2021, the market witnessed a 15.54% YOY growth and the growth momentum is expected to accelerate at a CAGR of 16.08% during the forecast period. Factors such as increased adoption of collaborative robots, advantages of collaborative robots over industrial robots, and the increasing number of acquisitions and strategic partnerships among key vendors will foster the growth of the market.
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The global collaborative robots market is fragmented, and the degree of fragmentation will accelerate during the forecast period. The market is characterized by the presence of several small and medium-sized players and is dominated by a few well-established players. Major players in the market mainly focus on developing innovative products and are constantly increasing their R&D investments. Some of the established vendors have started acquiring smaller and regional players to help them enhance their global reach.
ABB Ltd., FANUC Corp., Festo SE and Co. KG, Fiat Chrysler Automobiles NV, Hans Laser Technology Industry Group Co. Ltd., Kawasaki Heavy Industries Ltd., Robert Bosch GmbH, Staubli International AG, Teradyne Inc., and Yaskawa Electric Corp. are identified as some of the major market participants. Although the increased adoption rate in the SME sector, advantages of collaborative robots over industrial robots, and acquisitions and strategic partnerships among key market players will offer immense growth opportunities, regulatory hurdles faced by vendors, traditional industrial robots equipped with required safety systems, and the threat to new sales due to rise in rental services will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Collaborative Robots Market 2021-2025: Segmentation
The global collaborative robots market is segmented as below:
By application, the material handling segment will have the largest share of the market. The market growth in the segment will be significant during the forecast period.
About 34% of the market growth will originate from APAC during the forecast period. The emergence of local vendors that provide low-cost and high-quality products has been crucial in driving the growth of the regional market. Besides, factors such as government initiatives, rising standards of living, a strong industrial base, and increasing demand for automobiles are contributing to the growth of the collaborative robots market in APAC.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our collaborative robots market report covers the following areas:
We provide a detailed analysis of around 25 vendors operating in the collaborative robots market, including some of the dominating players. Backed with competitive intelligence and benchmarking, our research report on the collaborative robots market is designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support.
Accelerate at a CAGR of 16.08%
Europe, APAC, North America, South America, and MEA
US, China, Germany, Japan, and France
Leading companies, competitive strategies, consumer engagement scope
ABB Ltd., FANUC Corp., Festo SE and Co. KG, Fiat Chrysler Automobiles NV, Hans Laser Technology Industry Group Co. Ltd., Kawasaki Heavy Industries Ltd., Robert Bosch GmbH, Staubli International AG, Teradyne Inc., and Yaskawa Electric Corp.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period.
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