Global collaborative robot market is expected to grow at a CAGR of 55.2% in the forecast period of 2019 to 2026. The years considered for study are as mentioned below.
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The collaborative robot market is a highly concentrated market which includes key players and local players. The market has witnessed increased strategic developments owing to favourable market scenario. These robots were on rise due to their demand in 2017 as they can function in the work fields previously occupied by the human counterparts. Collaborative robots are designed with inherent safety features, such as collision detection, force feedback and have been made safe to work right next to the human operators. The market will prominently grow in the coming years due to rising adoption of automation in various industries and integration of IoT in robotics. Low price range of collaborative robots as well as high ROI results is drawing the attention of SMEs to the collaborative robot market.
The market has witnessed developments in terms of merger and acquisitions or product launches to enhance the product portfolio to meet the rising demand of innovative technology. For an instance, in February 2018, FANUC CORPORATION acquired Life Robotics Inc., which was engaged in developing, manufacturing, selling and other activities regarding CORO, a robot which is capable of moving into various positions along with wide motion range, shows minimal interference with the surroundings and uses retractable and extendable joints instead of elbow rotary joints. Fanuc Corporation acquired the shares of Life Robotics Inc. and converted it into its wholly-owned subsidiary, in order to pursue the possibility of diversifying the robots in various ways.
FANUC CORPORATION dominated the collaborative robot market. The other key players existing in the market includes Teradyne Inc. and Robert Bosch GmbH, Kawasaki Heavy Industries, Ltd, ABB, Universal Robots A/S, Nachi Robotic Systems, Inc, Rethink Robotics, KUKA AG, Precise Automation, Inc., MRK-Systeme Gmbh, Energid Technologies Corporation, Inc., F&P Robotics AG, Productive Robotics, Inc., MABI ROBOTIC AG, Quanta Storage Inc., Franka Emika GmbH, AUBO Robotics, Techman Robots, Staubli International AG, Yaskawa Electric Corporation, Comau S.p.A., Automatica Kassow Robots, Vecna, Robotiq, OMRON Corporation and others.
FANUC Corporation headquartered in Yamanashi Prefecture, Japan was founded in 1956. The company is engaged in research & development, manufacturing of robots and robomachines. The company has three operating divisions namely, Robot, Factory Automation, Robomachine and Service, among which Robot is the market focused business division. Fanuc group focuses on the development, production, and sales of CNC systems and related applications used for automation production systems. The product portfolio offered by the company comprises of factory automation, CNC, servo motor, laser, collaborative robot, mini robot, SCARA robot, delta robot, arc welding robot, pelletizing and painting robot, robomachine, robodrill, roboshot, robocut, robonano, and field system.
It has its global networks through direct sales representatives and distributors in the North America, Europe, and Asia-Pacific. The company has various subsidiaries such as FANUC Robotics Canada ltd. (Canada), FANUC Mechatronics Sdn. Bhd. (Malaysia), FANUC Vietnam Ltd. (Vietnam), FANUC Singapore Pte. Ltd. (Singapore) among others.
Teradyne, Inc. headquartered in Massachusetts, U.S. was founded in 1960. The company is a leading global supplier of automation equipment; it focuses on development, manufacturing, and sales of automatic test systems to test semiconductors, wireless products, data storage and complex electronics systems in the consumer electronics, wireless, automotive, industrial, computing, communications, and aerospace and defence industries. Its industrial automation products include collaborative robotic arms, autonomous mobile robots and advanced robotic control software used by global manufacturing and light industrial customers to improve quality, increase manufacturing and material handling efficiency and decrease manufacturing costs.
The company operates through four business segments which include semiconductor test, system test, industrial automation, and wireless test, among which industrial automation is the market focused business segment. Industrial Automation segment is comprised of three business units: Universal Robots, Mobile Industrial Robots and Energid. Universal Robots offers three collaborative robot models, the UR3, UR5, and UR10, each with different weight carrying capacity and arm reach.
It has its global networks through direct sales representatives and distributors in the Europe, Asia-Pacific, Africa, Middle East and the Americas. It operates through its subsidiaries such as Teradyne Malaysia Sdn. Bhd. (Malaysia), Teradyne Korea Ltd. (South Korea), Universal Robots Mexico, S.A. de C.V. (Mexico), and Teradyne Engineering Pvt. Ltd. (India) among others.
Robert Bosch GmbH:
Robert Bosch GmbH is headquartered in Stuttgart, Germany, incorporated in 1896. The company focuses on providing services in automation, connectivity, electrification and energy efficiency. As a leading IoT company, Robert Bosch offers innovative solutions for smart cities, smart homes, connected manufacturing, and connected mobility. It utilizes its expertise in sensor technology, software, and services, as well as its own IoT cloud, to offer its customers connected, cross-domain solutions from a single source. The company operates through four business segments which include Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology, among which Industrial Technology is the market focused business segment.
The company has wide geographical presence in more than 60 countries globally with approximately 125 locations for research and development, which includes Asia-Pacific, Americas, Middle East & Africa and Europe. It has roughly 440 subsidiaries such as Bosch Energy Storage Solutions LLC (U.S.), Bosch Software Innovations GmbH (Germany), Robert Bosch Venture Capital GmbH (Germany), Bosch Healthcare Solutions GmbH (Germany) and others.
Global Collaborative Robot Market – Industry Trends and Forecast to 2026
Asia-Pacific Collaborative Robot Market – Industry Trends and Forecast to 2026
Europe Collaborative Robot Market – Industry Trends and Forecast to 2026
Middle East and Africa Collaborative Robot Market – Industry Trends and Forecast to 2026
North America Collaborative Robot Market – Industry Trends and Forecast to 2026