According to the recent research report titled ‘GLOBAL Collaborative Robots Market 2019-2028’, available with Market Study Report, global collaborative robots market size is expected to expand at 31.13% CAGR over 2019-2028.
 

Surging demand for flexible automation and high productivity, expanding application areas, and high return on investment (ROI) gained are the key factors stimulating global collaborative robots market growth. In addition, reducing prices of collaborative robots (cobots) is also adding to the overall market outlook.
 

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Elaborating on the restraints, evolving safety standards, and lack of capabilities associated with faster cycle time are anticipated to hinder the business expansion. Moreover, technological challenges, and opposition of robots by the workforce perceiving the former as a threat are also negatively impacting worldwide collaborative robots industry share.
 

Based on payload type, the market is split into above 10kg, from 6kg to 10kg, and up to 5kg. With respect to component terrain, the industry is divided into end effector, sensor, drives, controller, and others. Elaborating on end user scope, the marketplace is categorized into metals & machining, aerospace, plastic & polymer, food & beverages, electronics & semiconductor, automotive, and others.
 

Moving on to application scope, worldwide collaborative robots market is segmented into gluing, dispensing, & welding, screw driving, polishing, packaging & palletizing, test & inspection, molding operations, CNC machine tending, small parts assembly, material handling, and others.
 

Coming to the regional landscape, Asia Pacific collaborative robots industry size is slated to grow substantially over the coming years, owing to supportive government initiatives to promote development of robotics vertical. Citing an instance, South Korean government introduced Intelligent Robot Industry Development Strategy to encourage the use of collaborative robots among small and medium enterprises.
 

Top companies influencing global collaborative robots industry trends are FANUC Corporation, Rethink Robotics, KUKA AG, Robert Bosch GmbH, Universal Robots A/S, F&P Robotics AG, Energid Technologies Corporation, Yaskawa Electric Corporation, MRK-Systeme GmbH, Seiko Epson Corporation, Precise Automation Inc., Nachi Robotics Systems Inc., DENSO Robotics, and ABB Group.