Collaborative Robots Market Growing at 60.04% CAGR to Hit $3.36Bn by 2021
Global collaborative robots market expected to grow at a high rate (60.04% CAGR) led by automotive industry and furniture & equipment industry while Asia-Pacific to be the fastest-growing market for collaborative robots.
Pune, India – August 18, 2016 /MarketersMedia/ —
The global market for collaborative robots is expected to grow at a CAGR of 60.04% between 2016 and 2022 from USD 110.0 million in 2015 and reach USD 3.3 Billion by 2022. The market is expected to be driven by the growing demand because of higher return on investment and low price of collaborative robots that are attracting the small and medium sized enterprises (SMEs), and the increase in investments for automation in industries.
The application in the automotive industry accounted for the largest share of the collaborative robot market in 2015 and this trend is expected to continue during the forecast period. However, the increasing installations of collaborative robots in the automotive industry and furniture & equipment industry would provide rapid growth between 2016 and 2022, especially in the Asia-Pacific region.
Complete report on global collaborative robots market spread across 189 pages, profiling 10 companies and supported with 65 tables and 51 figures is now available at http://www.rnrmarketresearch.com/collaborative-robots-market-by-payload-up-to-5-kg-up-to-10-kg-above-10-kg-application-industry-and-geography-global-forecast-to-2022-market-report.html .
Europe accounted for the largest share of the global collaborative robots market in 2015. Owing to the early adoption and strict regulations along with safety standards developed by International Organization for Standardization (ISO) and Robotic Industries Association (RIA), the installation of collaborative robots has increased in various applications in Europe. Asia-Pacific accounted for the second-largest market for collaborative robots in 2015 and is expected to surpass Europe by 2018. Asia-Pacific and RoW regions are expected to offer high growth potential for the collaborative robots during the forecast period for various industries.
The report profiles key players in the collaborative robots market with their respective market share analysis. The prominent players profiled in this report are ABB Ltd. (Switzerland), KUKA AG (Germany), FANUC Corporation (Japan), Robert Bosch GmbH (Germany), Universal Robots (Denmark), Rethink Robots (U.S.) Energid Technologies (U.S.), Precise Automation (U.S.), MRK-Systeme GmbH (Germany), and others. Request a discount on Collaborative Robots Market by Payload (Up to 5 Kg, Up to 10 Kg, & Above 10 Kg), Application, Industry and Geography – Global Forecast to 2022 research report at http://www.rnrmarketresearch.com/contacts/discount?rname=657675
In the process of determining and verifying the market size for several segments and sub-segments gathered through secondary research, extensive primary interviews of key opinion leaders in the collaborative robots market have been conducted. The break-up of primary participants for the report is shown below:
By Company Type – Tier 1– 28%, Tier 2 – 52%, and Tier 3 – 20%
By Designation – C-level Executives – 25%, Directors – 61%, and others – 14%
By Region – Americas – 43%, Europe – 24%, Asia-Pacific – 24%, and RoW – 9%
On a related note, another research on Military Robots Market Global Forecast to 2020 says, rising need for better cross border surveillance is a major factor for increasing procurement of military robots, globally. Firefighting application segment is to witness higher growth during the forecast period. Europe is projected to grow at the highest CAGR during the forecast period. Companies like Northrop Grumman (U.S.), Lockheed Martin (U.S.), AeroVironment (U.S.), Israel Aerospace Industries (Israel), iRobot (U.S.), and Boston Dynamics have been profiled in this 148 pages research report available at http://www.rnrmarketresearch.com/military-robots-market-by-platform-airborne-naval-land-based-application-warfield-pick-n-place-firefighting-voice-controlled-robotic-vehicle-metal-detector-robotic-vehicle-others-region-global-forecast-to-2020-market-report.html .
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