Global Collaborative Robot Market: Key Highlights
Global Collaborative Robot Market: Key Market Dynamics
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Global Collaborative Robot Market: Regional Overview
The Asia-Pacific region is expected to hold the largest market share during the forecast period. The constantly growing market for artificial intelligence and machine learning technology is helping the growth of the collaborative robot market in this region. China, Japan, Taiwan, and South Korea are dominating the market in the Asia-Pacific region due to the presence of robot manufacturers such as Fanuc Corporation, Yaskawa Electric Corporation, and Kawasaki Heavy Industries Ltd. among others. Growing semiconductor and electronics industries are fueling the growth of the robotics market in Asia-Pacific.
Europe is expected to grow at a faster rate during the forecast period. Europe is not only competing against low-wage economies, highly automated economies. As the decade progresses, robotics usage will increase around the world. Increasing adoption of industry 4.0 in the automotive, healthcare, and electronics industry are helping to grow the collaborative robot market in Europe. The presence of top key players such as Robert Bosch GmbH and KUKA will increase the market share of Europe during the forecast period. According to euROBOTICS, Europe holds 32% of the current industrial robotics market.
Global Collaborative Robot Market: Key Players Overview
FANUC Corp. engages in the development, manufacture, sale, and maintenance of robot systems, lasers computer numerical control (CNC) systems, roboshot, robomachines, robocut and nano robots. The company operates through the following business segments: factory automation (FA), robomachine, and robot. Fanuc Corporation provides various collaborative robots for various payload capacities such as 4Kg, 7Kg, 14Kg, 15Kg, and 35 Kg. the company serves its collaborative robots to small and medium scale as well as large enterprises as per their application criteria. In November 2019, Fanuc Corporation launched a new range of collaborative robots for arc welding.
ABB Ltd. engages in the development and provision of automation and power technologies. It operates through four business segments includes industrial automation, robotics and motion, electrification products, and corporate and other. In 2015, ABB launched YuMi, the world's first truly collaborative robot for adding flexibility in the assembly process to increase the production smoothly. This robot is operating on SISTEMA software to operate equally effectively side-by-side or face-to-face with human co-workers. In June 2018, ABB partnered with Kawasaki to create the world’s first common interface for collaborative robots. This partnership will help address the shortage of skilled workers in many industries.
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