Rise in demand for
automation, availability of affordable and energy-efficient industrial cobots,
and surge in investment in R&D activities augment the growth of the global
industrial cobot market. However, high installation cost restrains the market
growth. On the other hand, growing robot installation in various industry
verticals across the globe offers multiple opportunities to the market
players.
According
to the report, the global industrial cobot industry garnered $0.65 billion in 2018, and is projected to garner $12.48 billion by 2026,
witnessing a CAGR of 44.8% from 2019 to
2026.
The material
handling segment to dominate the market-
Based on application, the material handling segment accounted
for nearly one-third of the total share of the global industrial cobot market
in 2018, and is estimated to witness its largest share in terms of revenue
throughout the forecast period. The cobots are used to ease material handling
for various processes including manufacturing, warehousing, distribution,
consumption, and disposal, automate.
However, the
value-added processing segment is expected to portray the largest CAGR of 47.0%
from 2019 to 2026. Value-added processing plays a vital role as it is helpful
in handling high-volume operations and provides better quality, consistency,
maximum productivity, safety, and reduced labor costs, which drive the growth
of the segment.
Read Full News: https://www.alliedmarketresearch.com/industrial-cobot-market-A06074
The automotive
segment to maintain its leadership status until 2026-
Based on end-user, the automotive segment accounted for the largest market share with nearly
one-third of the total share in 2018, and is estimated to maintain its lead
position throughout the forecast period. An increase in several automakers such
as SMEs, as it is deploying industrial cobots to assist human workforce in
their workshops as these robots are smaller, smarter, more affordable,
user-friendly and provide flexible automatic solutions for vehicle
manufacturer, drives the growth of the segment. However, the manufacturing
segment is expected to register the fastest CAGR of 47.1% from 2019 to 2026,
owing to need to optimize total cost of ownership (TCO).
Europe to
maintain its lead position by 2026, North America to grow
steadily-
Based on region, Europe accounted for the
highest share, holding nearly two-fifths of the total share in 2018, and is
estimated to maintain its dominant share during the forecast period. This is
attributed to increase in economic activities, surge in industrialization, and
emergence of industry 4.0. Contrarily, the Asia Pacific region is
expected to grow at the largest CAGR of 47.6% from 2019 to 2026.
Increase in
adoption of automated systems in the growing food & beverage, logistics,
pharmaceutical, and other sectors, improved & safe working conditions, and
technological advancements foster the demand for packaging robots in Asia-Pacific region.
On the other hand, North
America is anticipated witness a CAGR of 43.7% during the
forecast period.
Key market
players-
·
KUKA AG
·
Seiko Epson Corporation
·
Staubli International AG
·
Universal Robots A/S
·
Teradyne
·
ABB Ltd
·
The Fanuc Corporation
·
Kawasaki Heavy Industries Ltd.,
·
Nachi Fujikoshi Corporation
·
Yaskawa Electric Corporation
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