This shift reintroduces human workers into the production process, fostering enhanced collaboration between humans and robots. As a result, the adoption of Industry 5.0 principles is fueling increased demand for collaborative robots. For example, in August 2022, ABB India expanded its Smart Power facility in Nelamangala, Bengaluru, to meet the growing need for energy management and smart power solutions. The upgraded facility features one of India’s first production processes aligned with Industry 5.0 standards.
However, the limited payload and speed capabilities of Collaborative Robots (cobots) pose a significant challenge to revenue growth of the market. While cobots are engineered for safe, flexible, and user-friendly operation alongside human workers, their lower payload capacities and slower speeds compared to conventional industrial robots limit their effectiveness in heavy-duty or high-speed environments. As a result, cobots are less suitable for demanding applications, such as large-scale material handling or fast-paced assembly lines. This constraint hinders their adoption in industries that require robust and high-performance automation, thereby limiting the market’s growth potential.
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Segments Market Overview and Growth Insights:
Based on application, the Collaborative Robot (Cobot) market is segmented into material handling, assembling & disassembling, welding & soldering, machine tending, packaging, gluing & welding, dispensing, processing, and others.
The material handling segment accounted for the largest market share in 2024, due to the growing demand for efficient, adaptable, and safe automation across industries such as manufacturing, logistics, and e-commerce. Cobots are increasingly utilized for applications like pick-and-place and palletizing, where their ability to work safely alongside humans boosts productivity and optimizes space usage.
For example, in December 2024, Collaborative Robotics, a key player in the collaborative robotics space, founded by the team behind Amazon Robotics’ large-scale deployment of over 500,000 units, officially introduced its latest robot, Proxie. This advanced and highly flexible cobot is purpose-built to manage complex material handling tasks critical to global operations.
Regional Market Overview and Growth Insights:
Europe led the global collaborative robot (cobot) market in terms of revenue share in 2024, driven by a combination of economic strength, technological advancement, and supportive policy frameworks that emphasize innovation and manufacturing efficiency. The region’s well-established automotive and electronics industries, known for their precision and productivity standards, have been key drivers of this revenue growth of the market.
German automakers have widely adopted cobots to enhance production processes. For instance, Audi implemented a groundbreaking production model that moves away from traditional assembly lines, utilizing Automated Guided Vehicles (AGVs) and lightweight robots developed by Universal Robots, core components of Audi’s vision for next-generation smart manufacturing.
Competitive Landscape and Key Competitors:
The Collaborative Robot (Cobot) market is characterized by a fragmented structure, with many competitors holding a significant share of the market. List of major players included in the market report are:
o Universal Robots
o FANUC Corporation
o ABB Ltd.
o KUKA AG
o Yaskawa Electric Corporation
o Doosan Robotics
o Techman Robot Inc.
o AUBO Robotics
o Franka Robotics GmbH
o Comau S.p.A
o Energid Technologies Corporation
o Rethink Robotics GmbH
o Neura Robotics
o Elite Robots
o Denso Corporation
o Addverb Technologies
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Major Strategic Developments by Leading Competitors
Universal Robots: On October 21, 2024, Danish collaborative robot manufacturer Universal Robots introduced the UR AI Accelerator. This all-in-one hardware and software toolkit is designed to accelerate the creation of AI-powered cobot applications. It integrates advanced AI functionalities into Universal Robots’ next-generation software platform, PolyScope X, and utilizes NVIDIA Isaac accelerated libraries and AI models.
Teradyne Robotics: On September 17, 2024, Teradyne Robotics, a division of Teradyne, Inc. and a global leader in advanced robotics, is collaborating with Siemens, renowned for its industrial automation hardware and software, to jointly develop a robotics showcase at MxD (Manufacturing x Digital). Teradyne Robotics, Universal Robots, and MiR will present a range of cutting-edge robotics and automation technologies. Featured solutions will include the compact UR5e cobot, the latest generation UR20 and UR30 cobots, the MiR250 mobile robot, and a mobile collaborative robot.
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Navistrat Analytics has segmented global Collaborative Robot (Cobot) market on the basis of payload capacity, component, application, end-use and region:
• Payload Capacity Outlook (Revenue, USD Million; 2022-2032)
o Less than 5 kg
o 5–10 kg
o Above 10 kg
• Component Outlook (Revenue, USD Million; 2022-2032)
o Hardware
o Software
o Services
• Application Outlook (Revenue, USD Million; 2022-2032)
o Material Handling
o Assembling & Disassembling
o Welding & Soldering
o Machine Tending
o Packaging
o Gluing & Welding
o Dispensing
o Processing
o Others
• End-Use Outlook (Revenue, USD Million; 2022-2032)
o Automotive
o Electronics & Semiconductors
o Metals & Machining
o Plastics & Polymers
o Food & Beverages
o Furniture & Equipment
o Healthcare & Pharmaceuticals
o Logistics
o Others
• Regional Outlook (Revenue, USD Million; 2022-2032)
o North America
a. U.S.
b. Canada
c. Mexico
o Europe
a. Germany
b. France
c. U.K.
d. Italy
e. Spain
f. Benelux
g. Nordic Countries
h. Rest of Europe
o Asia Pacific
a. China
b. India
c. Japan
d. South Korea
e. Oceania
f. ASEAN Countries
g. Rest of APAC
o Latin America
a. Brazil
b. Rest of LATAM
o Middle East & Africa
a. GCC Countries
b. South Africa
c. Israel
d. Turkey
e. Rest of MEA
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