According to the latest study on ‘Global Collaborative Robots (COBOTS) Market Analysis, 2020’, available with Market Study Report, worldwide collaborative robots market is anticipated to grow with a CAGR of 45% over the forthcoming duration of 2020 to 2025.
 

Huge investments by manufacturers to transform their processes by integrating automation, coupled with inclination towards incorporating un-manned operations are impelling the growth of global collaborative robots (COBOTS) market. Also, benefits such as unrestrained multivariant functionalities, one-stop solution, and efficient human-machine interaction (HMI) are encouraging the technology adoption across several application verticals.
 

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The report cites that surge in demand for industrial collaborative robots from an array of industries, driven by high return on investment (ROI), effective assistance, swift product assembly with reduced operational cost, and efficient production is stimulating the global collaborative robots industry outlook.
 

On the downside, inability of COBOTS for cognitive learning which restraining the realization of true collaborative environment, in tandem with restricted standardization of speed, power, hand guiding, and stopped-state monitoring are hampering the business development.
 

As per application spectrum, worldwide collaborative robots market sphere is categorized into metals & machining, adhesion & welding, assembling & disassembling, polishing, molding, testing & inspection, CNC machine tending, parts assembling, material handling, and others. The report cites that assembling & disassembling application generated substantial returns in 2019, however, material handling segment is poised to hold considerable market share by the year 2025, owing to boosted payload capacity of COBOTS.
 

Speaking of end-users, the marketplace is governed by electronic & electrical manufacturers, chemical, metallurgy, aerospace & defense, healthcare & pharmaceutical, automotive, food & beverage, and other sectors. Among these, automotive sector dominated the global collaborative robots industry scenario in 2019, pertaining to extensive technology adoption by automakers to minimize time & cost, as well as to improve material handling convenience.
 

Companies defining the worldwide collaborative robots market trends are Yaskawa Motoman Robotics, Techman Robot USA, Seiko Epson Corporation, Rethink Robotics, Productive Robotics Inc., Precise Automation Inc., Nachi Robotic Systems Inc., KUKA, FANUC, DENSO Robotics, Comau LLC, F&P Robotics AG, Bosch Rexroth AG, AUBO Robotics Inc., and ABB Group among others.