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The global industrial cobot market size reached approximately USD 2.79 billion in 2023. The market is assessed to grow at a CAGR of 36.4% between 2024 and 2032 to attain a value of around USD 45.6 billion by 2032.
Cobots, variously known as collaborative robots, refer to industrial robots that are developed to collaborate with humans in a shared space. They are equipped with sensors that detect motion, potential collisions, and people to ensure their efficient movement. Cobots are typically used in manufacturing-related tasks, including assembly, machine tending, quality control, and material handling, among others.
Based on application, the market is segmented into machine tending, material handling, value added processing, transport, and test/inspection. On the basis of end use, the industrial cobot market segmentation includes electronics, automotive, food and beverages, healthcare, and manufacturing, among others. The major regional markets for industrial cobot include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global industrial cobot market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
As per the industrial cobot market analysis, cobots are widely used in the manufacturing sector as they are easy to deploy, affordable, and small. Manufacturers are increasingly attempting to automate their workflows, intensify output, and enhance effectiveness, hence the adoption of cobots to automate menial tasks is surging.
In the forecast period, the growing adoption of smart manufacturing technologies in different sectors is expected to bolster the usage of industrial cobots. Moreover, advancements in industrial IoT (IIoT) are anticipated to enhance the reliability of cobots and consequently improve the workflow of manufacturing plants in the coming years.
The Asia Pacific accounts for a significant portion of the industrial cobot market share due to the growing adoption of Industry 4.0 in countries like Japan, China, and India, among others. Rapid industrialisation, an ageing population, and the increasing deployment of innovative technologies in manufacturing activities are positively impacting the market growth.
In addition to this, the Asia Pacific has emerged as a hub for automotive and electronics production, further surging the adoption of industrial cobots.
Midea Group Co Ltd. (Kuka AG) is a prominent supplier of intelligent robot-based automation solutions. The company is a pioneer in process management, automation, and cloud-based services, and offers customers digitalisation and automation solutions. A leader in Industry 4.0, the company also provides fully automated systems and single-source robots, among others.
Fanuc Corporation is a leader in factory automation and is active in the fields of technologies such as lasers, numerical controls, and servos, among others. Based in Yamanashi, Japan, the company also applies AI and IoT technologies in different domains like robomachines and robots.
Teradyne, Inc. is a company that offers manufacturing automation to various sectors and applications. Through its solutions, the company aims to combat automation challenges and support businesses to improve ROI and production volumes. Established in 1960, some robotic offerings of the company are mobile robots and cobots that can support manufacturers to surge their productivity and improve safety.
Other industrial cobot market players include Kawasaki Heavy Industries, Ltd., ABB Ltd., Denso Corporation, Omron Corporation, Yaskawa Electric Corporation, Universal Robots A/S, and Staubli International AG, among others.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Application |
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Breakup by End Use |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the market attained a value of nearly USD 2.79 billion.
The market is assessed to grow at a CAGR of 36.4% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 45.6 billion by 2032.
The growing utilisation of automated solutions and rising concerns regarding labour shortages are the major market drivers.
The key trends aiding the market growth are advancements in technologies and improvements in embedded vision, safety, and cameras, and the rising usage of industrial cobots in manufacturing activities.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The different applications of the product are machine tending, material handling, value added processing, transport, and test/inspection.
The major players in the market are Kawasaki Heavy Industries, Ltd., ABB Ltd., Denso Corporation, Omron Corporation, Fanuc Corporation, Yaskawa Electric Corporation, Universal Robots A/S, Teradyne, Inc., Midea Group Co Ltd. (Kuka AG), and Staubli International AG, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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