Mobile Cobots Revolutionizing Industrial Operations, Projected Market Growth to USD 7,660.4 million by 2030.

In the ever-evolving landscape of industrial automation, the integration of Mobile Collaborative Robots (Cobots) has emerged as a transformative force, poised to reshape the dynamics of industrial operations. Projections indicate a significant surge in the Mobile Cobot market, with anticipated market growth reaching USD 7,660.4 by 2030 with a CAGR of 30.7%. This robust growth trajectory highlights the pivotal role Mobile Cobots play in enhancing efficiency, flexibility, and safety across diverse industrial sectors.

MARKET DYNAMICS AND TRENDS:

Growing Demand for Automation Solutions Boosts the Market Growth

The growing demand for automation solutions across various sectors, such as manufacturing, electronics, and healthcare, is driving the market for mobile collaborative robots. The necessity for automation solutions is on the rise due to the intricate nature of production processes, a shortage of labor, elevated labor costs, and the imperative for high productivity to maintain a competitive edge on a global scale.

Manufacturers are increasingly favoring mobile collaborative robots, particularly in response to the escalating levels of automation, the need for streamlined assembly tasks in manufacturing industries, and the ongoing expansion of the electronics sector, all contributing to market growth. Additionally, the global health crisis and the rising adoption of mobile collaborative robots in the healthcare industry are facilitating the integration of automation technologies, including e-prescriptions, mobile consulting, and electronic medical records, thereby expected to further enhance the growth of mobile collaborative robots.

Increasing Usage of Bin-Picking Mobile Cobots in Factories and Warehouses:

The emergence of bin-picking mobile cobots stands out as a noteworthy advancement in the field of mobile collaborative robotics. Numerous market participants are actively engaged in refining these mobile cobots, driven by their exceptional precision in product positioning and efficient operational speed. Consequently, mobile cobots are gaining increased favor among manufacturers in diverse industries, including food & beverages and pharmaceuticals. The expanding adoption of bin-picking variants is anticipated to significantly contribute to the growth of the mobile collaborative robots market. Furthermore, the ongoing modernization of warehousing operations, characterized by the integration of order-picking robots to enhance efficiency, reliability, and scalability, serves as a driving force for the overall market expansion.

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CHALLENGES

High Initial Costs: The upfront investment required for implementing mobile cobots can be substantial. This cost may deter smaller businesses from adopting this technology, limiting its widespread penetration across industries.
Complex Integration: Integrating mobile cobots into existing workflows and systems can be complex. Compatibility issues with existing machinery and processes may arise, requiring additional time and resources for seamless integration.

REGIONAL OUTLOOK:

ASIA PACIFIC:

• The Asia-Pacific region currently commands the largest share of the mobile cobots market and is anticipated to maintain its dominance in the forecast period.

• The region's supremacy is attributed to the substantial demand for consumer goods in densely populated countries, compelling industries to adopt robotics for efficient production. Autonomous mobile and collaborative robots find extensive application in manufacturing industries within the region, contributing to enhanced efficiency and productivity in tasks like pelletizing, depalletizing, sorting, assembling, and product handling.

• Key robotic manufacturers like Fanuc, Yaskawa Electric Corporation, and Kawasaki Robotics, situated in the Asia-Pacific region, further bolster market growth. Notably, Yaskawa, a prominent player in the industry, introduced two new collaborative robots, HC10DTP and HC20DTP, designed for industrial applications that can work safely alongside human counterparts. This launch in February 2022 exemplifies the ongoing advancements in the mobile cobots sector in the Asia-Pacific region.

Europe:

• Europe is poised for a steady ascent in the mobile cobot market, driven by the surge in demand for electric vehicles in European countries has prompted manufacturers to enhance their regional production capabilities, fostering the use of automation and robotics in automotive manufacturing facilities.

• Prominent automotive manufacturers like Volkswagen, Mercedes Benz, BMW, and Volvo Cars have made substantial investments in Europe, expanding their operations to meet the escalating demand for electric vehicles. For example, Volvo Cars announced in July 2022 its plans to construct a new manufacturing plant in Europe, aiming to satisfy the ongoing consumer demand for electric cars and tap into future growth potential.

• Government initiatives and investments in Europe also play a pivotal role in encouraging the adoption of robotics and automation across various industries to enhance productivity. As an example, in December 2021, the UK government announced a significant allocation of new funds amounting to USD 1.16 million for the development of autonomous mobile robotics, specifically in scientific research laboratory environments.

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COMPANY OVERVIEW:

The mobile cobot industry report features a range of market participants, including Universal Robots, Fanuc Corporation, Yaskawa Electric Corporation, Kuka AG, Aethon, Staubli International AG, Festo, Teradyne Inc., Fetch Robotics Inc., and Precise Automation. These industry leaders have implemented diverse strategies, such as product launches and partnerships across various regions, to sustain their dominance in the mobile cobot market.

For example, in March 2022, Fanuc Corporation unveiled three new models within its CRX line of collaborative robot arms-CRX-5iA, CRX-20iA/L, and CRX-25iA collaborative robots. Expanding its popular CRX series, which already includes the CRX-10iA and CRX-10iA/L collaborative robots, Fanuc aims to address the needs of both small and large manufacturers, enabling them to enhance their capabilities and address labor-related challenges.

Similarly, in February 2022, Yaskawa introduced two new collaborative robots, HC10DTP and HC20DTP, designed for industrial applications. These robots, namely HC10DTP and HC20DTP, facilitate safe collaboration between humans and robots. The introduction of collaborative robots compels industry players to innovate advanced robotic solutions, thereby propelling the mobile cobot market.

For more comprehensive insights, access the full report here: https://www.nextmsc.com/report/mobile-cobots-market

CONCLUSION:

As the Mobile Cobot market continues its upward trajectory, the industrial landscape is undergoing a transformative shift towards enhanced automation, collaboration, and efficiency. The collaborative and mobile nature of these robots positions them as key enablers of Industry 4.0, offering unprecedented flexibility and adaptability. The projected market growth to USD 7,660.4 million by 2030 underscores the industry's confidence in the capabilities and potential of Mobile Cobots. Embracing these advancements, industries are on the brink of a new era, where the synergy between human workers and Mobile Cobots redefines the very essence of industrial operations.

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