ID: MRFR/ICT/9322-CR | 165 Pages | Published By Ankit Gupta on April 2022
Mobile Cobots Market size to expand at a CAGR of 25.9% by 2027.
The manufacturing industry is in its early age of adopting automation and is facing significant challenges such as changing customer requirements and a lack of infrastructure, resources, and a skilled workforce. Robotics technology, in collaboration with the help of artificial intelligence (AI), human-machine interface (HMI), and the Internet of Things (IoT), helps manufacturers overcome these challenges. Among all the sectors and industries served by robots, mobile cobots have witnessed a reasonable adoption rate. The primary objective fulfilled by mobile cobots is performing redundant manufacturing processes and operations in real-time with high accuracy and reliable implementation.
The mobile cobots market has been broadly classified by weight capacity, application, and end users. Based on weight capacity, the mobile cobots market has been segmented into 1 to 3kg, 3 to 5kg, 5 to 10kg, and above 10kg. Among these, above 10kg dominated the market in 2020, capturing a high percentage of market share and registering a higher CAGR during the forecast period. Based on application, the mobile cobots market has been divided into automated pallet forks, conveyor brands/ belts, robotic arms, safety units, and shelf units. Robotic arms applications are expected to register the highest CAGR during the forecast period. The end users considered for the mobile cobots market include aerospace, agriculture, automotive, construction, electronics & semiconductor, food & beverage, healthcare, and retail & logistics. Robots used for retail & logistics dominate the market.
The global Mobile Cobots market accounted for a valuation of USD 564.0 Million in 2020, and it is projected to reach USD 2,770.8 Million in 2027 at a 25.9% CAGR.
The COVID-19 pandemic has proven the crucial role that telecommunications infrastructure plays in keeping businesses, governments, and society linked and running, maybe more than any other event in human history. People from throughout the world rely on technology for knowledge, social isolation, and working from home as a result of the pandemic's economic and social devastation. Growth in data and voice traffic has benefited several telecom players, from broadband to mobile to data centre operators. As a result, as compared to other infrastructure sub-sectors, the telecom sector is functioning well. In contrast to many other industries, the telecommunications sector has been exempted from key COVID-19-related restrictions, such as stay-at-home orders and quarantine regulations, because it is considered a critical service. As more individuals work from home and rely on video conferencing to arrange meetings, certain telecom firms have benefited from the short-term rise in data traffic and increased use of internet services. In reality, growing reliance on connection and digital services has accompanied traffic growth.
The technology, media, and telecommunications (TMT) industry, on the other hand, is not immune to short- and medium-term upheavals. Short- and medium-term effects on four important aspects of the value chain: network buildout, operation and maintenance, service commercialization, and financing, to name a few. General macroeconomic effects, airtime distribution limits, and demand deficiencies at the bottom of the pyramid are all starting to have an influence.
The growth of the global mobile cobots market is driven by various factors, increasing investment in automation by various industries, improving human-machine interface and increasing demand for mobile cobots from automotive industry and agricultural applications. However, the market's growth is likely to be hindered by the safety issues associated with mobile cobots and high initial cost and technical complexity.
Investment in automation is one of the growing trends in different industries. This investment into adopting high-end technologies and the Internet of Things (IoT) can help manufacturing companies stay ahead of the curve. Innovative technologies and smart software offer a fast, affordable, and flexible automation solution. According to Oxford Economics, in August 2020, around 34% of the manufacturers have prioritized investing in Artificial Intelligence (AI), 33% in IoT, and 14% in robotic process automation (RPA). The investment into these automation techniques can help the industries to increase the efficiency of the finance function by 38% and maximize the efficiency of the IT function by 45%.
Further, according to a recent report by Honeywell Intelligrated Automation Investment Study 2020, more than half of the US companies are highly open to investing in automation to survive the changing market requirements. The report also analyses that 66% of e-commerce, 59% of food, beverage, and grocery, and 55% of the logistics industries are willing to invest more in automation. The 48% of warehouse execution software, 46% of the order picking technology, and 44% of robotic solutions are the main implemented solutions expected to receive high future investments. The companies are investing in technology to enhance employee and customer security & safety. The automated and connected solutions have helped various industries continue operations during the pandemic. The computer-controlled solutions, robotic technology, and guided work solutions are particularly important to the industries for future competitiveness.
Industry 5.0 reintroduces humans to the automation loop. This allows the robots and people to work more closely and efficiently together. The introduction of faster, smaller, and more flexible cobots has surged the progress of Industry 5.0. It has advanced safety characteristics, which enable humans to take a huge position in a broader range of production processes. The growing era of Industry 5.0 is likely to shift the relationship between automated systems and workers that are now commonplace within the manufacturing units. Furthermore, the cobots offers enhanced performance and profitability to various industries. These have become more powerful with the introduction of the latest arms having a payload capacity up to five times of their contemporaries. The more extensive range of grippers and tools and increased size combined with the intuitive programming has formed a huge base for a broader range of applications such as packaging, heavy machine tending, tightening screws & nuts, and material handling.
The Mobile Cobots Market has been segmented based on Weight Capacity, Application, End User.
Based on weight capacity, the global Mobile Cobots market has been segmented into 1 to 3kg, 3 to 5kg, 5 to 10kg above 10kg.
By application, the Mobile Cobots market has been segmented into Automated Pallet Forks, Conveyor Brands/ Belts, Robotic Arms, Safety Units, Shelf Units.
Based on End User, the Mobile Cobots market has been segmented into Aerospace, Agriculture, Automotive, Construction, Electronics & Semiconductor, Food & Beverage, Healthcare, Retail & Logistics.
Globally, the Mobile Cobots market has been categorized into five different regions—North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Asia Pacific accounted for the largest market share of 45.5% in 2018, with a market value of USD 161.5 Million; it is expected to register a CAGR of 25.8% during the forecast period. Europe was the second-largest market in 2018, valued at USD 96.5 Million; it is projected to register the highest CAGR of 25.7%. North America dominates the Mobile Cobots market. The existing infrastructure and major players in the region provide the regional market with ample opportunities for significant growth during the study period. Asia-Pacific is an emerging and leading market for robotics technology. The major countries include China, Japan, India, South Korea, Australia, Indonesia, Malaysia, Philippines, Singapore, Taiwan, Thailand, and the Rest of Asia-Pacific. Moreover, the cost of the collaborative robots is cheap compared with conventional robots and complete the tasks with more procession and accuracy, which is anticipated to fuel the market size are propel the demand for mobile cobots in Asia-Pacific. There is a high demand for industrial robots in multiple industries such as automotive, metals & mining, food & beverage, and healthcare. The major factors contributing to the regional market's growth include increased government support in China, Japan, South Korea, and India.
GLOBAL MOBILE COBOTS MARKET, BY REGION, 2020 (% SHARE)Source: Industry Expert, Secondary Research, and MRFR Analysis
Asia Pacific Region to Bolster the Mobile Cobots Market
Asia-Pacific is an emerging and leading market for robotics technology. The major countries include China, Japan, India, South Korea, Australia, Indonesia, Malaysia, Philippines, Singapore, Taiwan, Thailand, and the Rest of Asia-Pacific. Moreover, the cost of the collaborative robots is cheap compared with conventional robots and complete the tasks with more procession and accuracy, which is anticipated to fuel the market size are propel the demand for mobile cobots in Asia-Pacific. China, in December 2021, unveiled a five-year plan of smart manufacturing, promising digitalization among large manufacturing industries by 2025. This has enhanced the market competitiveness and technology of the sector for the global race in advanced manufacturing. This will result in the growing mobile cobots market. Furthermore, China has 68 industrial robots per 10,000 employees per the 2019 report by the International Federation of Robotics (IFR). The Government of China is favorable to manufacturing industrial robots with an increase in unit sales. Moreover, China has the maximum number of start-ups working in AI, which indirectly fuels the growth of the Chinese mobile cobots market. As a significant industrial hub, China has created a demand for large-scale warehouses and storage, which has aided the mobile cobots market expansion. In recent years, the country has faced rising labor wages, causing many companies to shift to mobile cobots. In the forecasted timeframe, the country is expected to maintain its position as the largest industrial hub, resulting in increased demand for mobile cobots in the coming years
The global market for Mobile Cobots has witnessed significant growth over the forecast period. There are several domestic, regional, and global players operating in the Mobile Cobots market who continuously strive to gain a significant share of the overall market. During the study, MRFR has analyzed some of the major players in the global Mobile Cobots market who have contributed to the market growth. These include ABB Limited, AUBO Robotics, Inc., FANUC CORPORATION, Kawada Robotics, KUKA AG, MRK-Systeme GmbH, Precise Automation, Techman Robot Inc, The Yaskawa Electric Corporation, Universal Robots, AgileX Robotics(Shenzhen) Ltd., ROBERT BOSCH GMBH, PBA Group, Staubli International AG, and Waypoint Robotics.
This study estimates revenue growth at global, regional, and country levels and offers an overview of the latest developments in each of the sub-sectors from 2018 to 2027. For this analysis, MRFR segmented the global Mobile Cobots Market report based on weight capacity, application, end user and region.
By Weight capacity
By End User
|Market Size||2020: USD 564.0 Million 2027: USD 2,770.8 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Application, User|
|Segments Covered||• by Weight Capacity (1 to 3kg, 3 to 5kg, 5 to 10kg, above 10kg) • by Application (Automated Pallet Forks, Conveyor Brands/ Belts, Robotic Arms, Safety Units, Shelf Units) • by End User (Aerospace, Agriculture, Automotive, Construction, Electronics & Semiconductor, Food & Beverage, Healthcare, Retail & Logistics)|
|Geographies Covered||• North America (US, Canada, and Mexico) • Europe (UK, Germany, France and Rest of Europe) • Asia-Pacific (China, Japan, India and Rest of Asia-Pacific) • Middle East & Africa • South America|
|Key Vendors||• ABB Limited • Aubo Robotics, Inc • Fanuc Corporation • Kawada Robotics • Kuka Ag • MrRK-Systeme Gmbh • Precise Automation • Techman Robot Inc • Yaskawa Electric Corporation • Agilex Robotics (Shenzhen) Ltd • Robert Bosch Gmbh • PBA Group • Staubli International Ag • Waypoint Robotics • Robotnik|
|Key Market Opportunities||• Industry 5.0 is expected to open lucrative opportunities for the market|
|Key Market Drivers||• Increasing investment in automation by various industries|
A 25.9% CAGR is expected to transform the market.
The Asia Pacific regional market is projected to be the major driver of the market.
The segments in the market are Weight capacity, application, end user,
The key contenders in the market are ABB Limited, AUBO Robotics, Inc., FANUC CORPORATION, Kawada Robotics, KUKA AG, MRK-Systeme GmbH, Precise Automation, Techman Robot Inc, The Yaskawa Electric Corporation, Universal Robots, AgileX Robotics(Shenzhen) Ltd., ROBERT BOSCH GMBH, PBA Group, StAubli International AG, and Waypoint Robotics.