Press release
The demand for Collaborative Robots has been showing an impressive year-on-year increase, and this trend is expected to continue over our forecast period
In addition, the demand for collaborative robots has been estimated based on the geography, covering five regions namely North America, South America, Europe, Middle East and Africa and the Asia Pacific, and some of the major economies in each of these regions. The demand for these robots would primarily be driven by the trend toward industrial automation to improve efficiency, boost productivity and reduce operational cost. In addition, booming expenditure on research and development activities to introduce and launch new products in the market. However, the high demand for autonomous robots across industry verticals will restrict the market demand for collaborative robots in the coming years.
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By component, the demand for hardware is projected to record impressive growth rate in the global collaborative robot market in 2018.
It is estimated that the demand for hardware for collaborative robot will grow at an astounding rate in the coming years owing to the rising demand for collaborative robots in the developing countries. Besides, the market is presently in the growth stage, and the relative market share of hardware in the total lifecycle cost will be greater as compared to software and services. Regular expenditure on maintenance and the preference towards the customization of the robot as per the vendor’s preference is another factor responsible for augmenting the demand for hardware in 2018.
The Asia Pacific region is estimated to hold the substantial market share in the global collaborative robot market throughout the forecast period.
The developing regions of the world are witnessing high demand for collaborative robots owing to the favorable government policies promoting the manufacturing sector and the incorporation of robotics to improve efficiency and reduce downtime. In addition, the concern regarding job losses owing to the adoption of fully autonomous robotics is driving the demand for collaborative robotics. China and South Korea are some of the countries experiencing high adoption of industrial robotics and the demand for these robots are projected to grow at an astounding rate in India and Japan in the coming years.
This report also includes a study of strategies and product portfolios of some of the leading companies in the global collaborative robot market. It consists of company profiles of the leading companies such as Universal Robots, ABB, FANUC Corporation, KUKA AG, Energid Technologies Corporation, HAHN Robotics, Robert Bosch Manufacturing Solutions GmbH, Precise Automation, Inc., F & P Robotics AG and Yaskawa Electric Corporation.
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Knowledge Sourcing Intelligence (KSI) is a market research and consulting organization based out of India. KSI publishes research studies spanning across ten industry verticals. KSI has a team of experienced and young professionals with a singular focus on delivering high-quality research services to enterprises, non-government organizations, government agencies, and research institutes and organizations. We publish hundreds of reports per year centering on niche and latest technologies. We engage with key decision makers and stakeholders across the value chain to provide clients with a detailed analysis and bird’s-eye view of the market with whole market dynamics, statistical forecasts, competitive analysis, key trends, market drivers and challenges and strategic recommendations for making informed decisions. Our success lies in the effort of our analysts who strive to meet client expectations by delivering quality work within the stipulated deadlines.
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