Collaborative
Robots Market Key Growth Drivers and Market Size Forecast to 2031

global collaborative robot market is estimated to grow at a CAGR of over
40% during the forecast period. The key players that are dominating the global
collaborative robot market include ABB Group, Hyundai Robotics, a division of
Hyundai Heavy Industries Holdings, FANUC Corp., Yaskawa Electric Corp., KUKA
AG, and EPSON Robots, among others. The companies are constantly contributing
to attracting customers and staying competitive in the global collaborative
robot industry. For instance, in May 2023, Universal Robots announced a new
partnership with Denali Advanced Integration. This partnership combines
industry-leading technology with industry-leading services. The combination of
Denali, an experienced IT/OT partner, with Universal Robots, allows them to
bring the best automation designs to customers while driving a strong return on
their technology investments.  

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Moreover,
in June 2022, Doosan announced a new expansion of the Doosan Robotics business
unit that focuses on servicing and selling robots in different industrial
markets. Along with the announcement of Doosan Robotics Americas, a new line of
collaborative robots is being added to the existing product line that promises
some new, innovative ways to bring humans and industrial machines closer
together. These robots are specifically designed to work alongside humans in
the food and beverage industries, entertainment, and content creation, at home,
or even at the office.  In February 2020, the NRI-2.0 program builds upon
the original National Robotics Initiative (NRI) program to support fundamental
research in the US that accelerate the development and use of collaborative
robots (co-robots). The focus of the NRI-2.0 program is on ubiquity, which in
this context means the seamless integration of co-robots to assist humans in
every aspect of life.

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In
addition, an increase in automation in various industries such as automotive
manufacturing companies, favorable government policies and regulations, rapid
technological advancements, and a rise in demand for robots globally drives the
market growth. Sales of industrial robots in India reached a new record of
4,945 units installed in 2022, an increase of 54% compared to 2021 according to
the International Federation of Robotics (IFR). The automotive industry remains
the largest customer for the robotics industry in India with a share of 31% in
2021.

Market
Coverage

•             Segment Covered- 

o             By Application 

o             By Vertical 

•             Regions Covered-

o             North America

o             Europe

o             Asia-Pacific

o             Rest of the World

•             Competitive Landscape- ABB Group,
Hyundai Robotics, a division of Hyundai Heavy Industries Holdings, FANUC Corp.,
Yaskawa Electric Corp., KUKA AG, EPSON Robots, and others.

Key
questions addressed by the report

•             What is the market growth rate?

•             Which segment and region dominate
the market in the base year?

•             Which segment and region will
project the fastest growth in the market?

•             Who is the leader in the market?

•             How players are addressing
challenges to sustain growth?

•             Where is the investment
opportunity?

Global
Collaborative Robots Market Report Segment

By
Application

• Handling


• Assembling and Disassembling 


• Processing


• Others 

By
Vertical

• Automotive


• Food & Beverage


• Metal & Machinery


• Electrical & Electronics


• Chemical, Rubber, and Plastics


• Others

Reasons
to Buying From us -



1. We cover more than 15 major industries, further segmented into more than 90
sectors.

2. More than 120 countries are for analysis.

3. Over 100+ paid data sources mined for investigation.

4. Our expert research analysts answer all your questions before and after
purchasing your report.

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