According to the latest research report titled ‘Global Collaborative Robots Market 2019-2028’, available with MarketStudyReport, global collaborative robots market size is anticipated to expand at a CAGR of 31.13% through 2028.
 

Increasing applications of collaborative robots, and rising demand for increased productivity are the primary growth catalysts for global collaborative robots market. Moreover, low priced cobots (collaborative robots) and higher return on investment (RoI) are further propelling the industry share.
 

Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/3552882/
 

On the contrary, limited scope of cobots due to their collaborative nature, and stricter safety standards may restrain the industry growth over the forecast period.
 

The report cites that focus on incorporating automation in various industry verticals, in consort with demand for high capacity cobots will create lucrative opportunities, however opposition from human workforce will act as a challenge in the industry. 
 

On the basis of payload type, global collaborative robots market is fragmented into above 10kgs, 6-10kgs, and up to 5kgs. Based on component type, the marketplace is divided into controller, sensor, drives, end-effector, and others.
 

In terms of application terrain, the industry is branched into screw driving, gluing, dispensing, & welding, polishing, packaging & palletizing, test & inspection, molding operations, CNC machine tending, small parts assembly, material handling, and others. Speaking of end user terrain, the industry is categorized into metals & machining, aerospace, plastic & polymer, food & beverages, electronics & semiconductor, automotive, and other.
 

Considering the geographical outlook, the market spans across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Among these, Asia Pacific market is expected to witness a rapid growth during the forecast period, owing to supportive government initiatives to encourage the development of robotics vertical.
 

The key players in global collaborative robots market are FANUC Corporation, Robert Bosch GmbH, Precise Automation Inc., Energid Technologies Corporation, Nachi Robotics Systems Inc., ABB Ltd., KUKA AG, F&P Robotics AG, Seiko Epson Corporation, Universal Robots A/S, DENSO Robotics, Rethink Robotics GmbH, MRK-Systeme GmbH, and Yaskawa Electric Corporation.