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Maya Xiao Author
Senior Research Analyst - China
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Maya has an interdisciplinary technical background in vehicle electrification, system automation and robotics. She is now the lead analyst for Interact Analysis’ Li-ion battery and forklift research, also covering markets for industrial and collaborative robots. 

 

 

“Cobots have softened the “industrial nature” of a robot and have great potential to be used in other industries outside of manufacturing such as logistics, education and even service area. This translates to a much higher growth potential compared to traditional robot types.”

 

Benefiting from a desire for ever-increasing automation in industry, collaborative robots have seen a recent spike in popularity. Further tied to the rising cost and lack of labour needed to complete menial and monotonous tasks, it is easy to foresee why cobots could become a relevant addition to the future workforce.

Cobots have gradually become an important part of intelligent manufacturing and an effective complement to lean production. The cobot industry has not been immune to the impacts of COVID-19 and there will be significant variations in the recovery for each region and industry

Full Description

This report provides current and accurate market information on the collaborative robot market incorporating revenue and unit data on a regional and industry level. It includes well modelled forecasts with clear and transparent assumptions for all of the market segments shown out from 2024 and 2029.

Discussion of key trends and an in-depth analysis of the supplier landscape is provided to assist in the understanding of competitors, suppliers, and potential partners.

Objectives

This report aims to answer some of the key questions facing this industry today.

  • Which industries will drive growth for collaborative robots in the next five years?
  • What will be the pricing trends as volumes rise?
  • How will collaborative robots complement or influence the traditional industrial robot market?
  • What is the potential for collaborative robots in non-manufacturing fields?

Highlights:

  • Annual revenue of collaborative robots is predicted to reach $1.94 billion by 2028, accounting for 15.7% of the total robot market.
  • Global collaborative robot revenues in 2019 totalled $669.9 million, an increase of 15.6% from 2018.
  • Automotive and Electronic industries were the biggest consumers of collaborative robots in 2019 and predicted to remain into 2024.
  • Material handling, assembly and pick & place are forecast to remain the three biggest uses of collaborative robots. These three functions which accounted for 71.9% of collaborative robot revenues in 2019, is forecast to hold a 62.7% share in 2024.
  • Interact Analysis predicts that cobots rated <5kg and between 5-9 kg will still account for the majority of sales in 2024, with a total of 80.3% revenue share and 85.1% shipment share.
  • In the next 5 years, the fastest growing countries for collaborative robot shipments will be China, Germany, North Americas and then South Americas.  All of which are forecast to grow at a CAGR over 10%.
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Posted by Maya Xiao

Maya has an interdisciplinary technical background in system automation, renewable energy, and intelligent connected vehicles. She is responsible for Interact Analysis’ Chinese industrial automation and NEV research.