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Collaborative Robot Market Trends

  • Report ID: 3584
  • Published Date: Aug 26, 2024
  • Report Format: PDF, PPT

Collaborative Robot Market Trends

Growth Drivers

  • High Return on Investment as Compared to Traditional Industrial Robotic System
  • Rising Adoption of Collaborative Robots Across Industry Verticals

Challenges

  • Speed Limitations of Collaborative Robots Owing to their Inherent Design

Collaborative Robot Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

33.6%

Base Year Market Size (2023)

USD 1.53 billion

Forecast Year Market Size (2036)

USD 66.1 billion

Regional Scope
  • North America (U.S., and Canada)
  • Asia Pacific (Japan, China, India, Indonesia, South Korea, Malaysia, Australia, Rest of Asia Pacific)
  • Europe (UK, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Latin America (Mexico, Argentina, Brazil, Rest of Latin America)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
 
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Author Credits:  Shweta Patidar


  • Report ID: 3584
  • Published Date: Aug 26, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of collaborative robot is estimated at USD 1.94 billion.

Collaborative Robot Market size was over USD 1.53 billion in 2023 and is anticipated to reach USD 66.1 billion by 2036, growing at around 33.6% CAGR during the forecast period i.e., between 2024-2036. The market growth is driven by high return on investment as compared to traditional industrial robotic system and rising adoption of collaborative robots across industry verticals.

Asia Pacific industry is likely to account for largest revenue share by 2036, ascribed to increasing emphasis on the quality and precision of cobots, and rising adoption of automation and artificial intelligence technologies in the region.

The major players in the market are Fanuc Corporation, TechMan Robot Inc., Rethink Robotics GmbH, Universal Robot A/S, AUBO Robotics USA, and others.
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