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Global Industrial Cobot Market Size, Share, Forecast: By Application: Machine Tending, Material Handling, Value Added Processing, Transport, Test/Inspection; By End Use: Electronics, Automotive, Food and Beverages, Healthcare, Manufacturing, Others; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032
Global Industrial Cobot Market Outlook
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.
Key Trends in the Market
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.
- One of the significant industrial cobot market trends includes growing concerns regarding labour shortages. Cobots can address the rising labour shortage as they are less expensive to install than their traditional counterparts and efficiently perform repetitive and manual tasks.
- There is a rising demand for automated solutions based on collaborative robots for use in QC applications owing to their affordability, ease of usage, and return on investment (ROI). Besides, the industrial cobot market demand is being aided by the small carbon footprint, mobility, and flexibility of collaborative robots, boosting their usage in metrology and inspection processes, enhancing the frequency of inspection and quality tasks without the requirement for extra labour, and reducing the lag between quality and manufacturing processes.
- Improvements in embedded vision, safety, and cameras are revolutionising the industrial cobot market growth. Such advancements are increasing the safety, adaptability, versatility, predictive maintenance, precision, visibility, and efficiency of cobots, thus enhancing their functionality in different applications.
- Advancements in artificial intelligence (AI) are expected to aid the industrial cobot market growth in the coming years. The development of AI-based cobots that can automate repetitive tasks, perform complex tasks with accuracy and precision, surge efficiency and productivity, streamline workflow, and reduce the risk of errors is anticipated to further bolster the market in the forecast period.
Market Analysis
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.
- 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)
- Staubli International AG
- Others
Market Share by End Use
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.
Market Share by Region
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.
Competitive Landscape
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.
Key Highlights of the Report
| 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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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Industrial Cobot Market Analysis
8.1 Key Industry Highlights
8.2 Global Industrial Cobot Historical Market (2018-2023)
8.3 Global Industrial Cobot Market Forecast (2024-2032)
8.4 Global Industrial Cobot Market by Application
8.4.1 Machine Tending
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Material Handling
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Value Added Processing
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Transport
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.5 Test/Inspection
8.4.5.1 Historical Trend (2018-2023)
8.4.5.2 Forecast Trend (2024-2032)
8.5 Global Industrial Cobot Market by End Use
8.5.1 Electronics
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Automotive
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Food and Beverages
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Healthcare
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Manufacturing
8.5.5.1 Historical Trend (2018-2023)
8.5.5.2 Forecast Trend (2024-2032)
8.5.6 Others
8.6 Global Industrial Cobot Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Industrial Cobot Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Industrial Cobot Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Industrial Cobot Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Industrial Cobot Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Industrial Cobot Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Kawasaki Heavy Industries, Ltd.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 ABB Ltd.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Denso Corporation
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Omron Corporation
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Fanuc Corporation
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Yaskawa Electric Corporation
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Universal Robots A/S
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Teradyne, Inc.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Midea Group Co Ltd. (Kuka AG)
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Staubli International AG
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Industrial Cobot Market: Key Industry Highlights, 2018 and 2032
2. Global Industrial Cobot Historical Market: Breakup by Application (USD Billion), 2018-2023
3. Global Industrial Cobot Market Forecast: Breakup by Application (USD Billion), 2024-2032
4. Global Industrial Cobot Historical Market: Breakup by End Use (USD Billion), 2018-2023
5. Global Industrial Cobot Market Forecast: Breakup by End Use (USD Billion), 2024-2032
6. Global Industrial Cobot Historical Market: Breakup by Region (USD Billion), 2018-2023
7. Global Industrial Cobot Market Forecast: Breakup by Region (USD Billion), 2024-2032
8. North America Industrial Cobot Historical Market: Breakup by Country (USD Billion), 2018-2023
9. North America Industrial Cobot Market Forecast: Breakup by Country (USD Billion), 2024-2032
10. Europe Industrial Cobot Historical Market: Breakup by Country (USD Billion), 2018-2023
11. Europe Industrial Cobot Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Asia Pacific Industrial Cobot Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Asia Pacific Industrial Cobot Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Latin America Industrial Cobot Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Latin America Industrial Cobot Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Middle East and Africa Industrial Cobot Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Middle East and Africa Industrial Cobot Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Global Industrial Cobot Market Structure
Key Questions Answered in the Report
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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