Mobile Cobots Market Size

Mobile Cobots Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

The market for mobile cobots is undergoing a transformational growth with a size of $500,000 in 2023 and projected to reach $3.1 billion by 2032. This phenomenal growth rate is 22.44% for the period from 2024 to 2032. The market for cobots capable of working side by side with human workers is expected to grow in many industries. In particular, automation in manufacturing, logistics and health care is driving this market growth as businesses seek to increase their productivity and efficiency and reduce operating costs. Also, the latest developments in sensors, artificial intelligence and machine learning are driving the market growth for mobile cobots. These innovations enable cobots to perform more complex tasks with greater precision and adaptability, which makes them a valuable asset in dynamic working environments. Companies such as Universal Robots, ABB and KUKA are investing heavily in research and development, forming strategic alliances and launching new products to take advantage of this burgeoning market. Recent collaborations between technology companies and manufacturers aim to integrate mobile cobots into existing workflows, thereby enhancing their capabilities and further driving market penetration.

Regional Market Size

Regional Deep Dive

The Mobile Cobots Market is growing at a significant CAGR in the years to come, mainly driven by the advancements in automation technology and the increasing demand for flexible manufacturing solutions. North America is characterized by a strong presence of key players and a strong industrial base, while Europe is characterized by a strong demand for cobots, mainly due to labor regulations and a focus on increasing productivity. Asia-Pacific is becoming the main market for mobile cobots, mainly driven by the growing automation investments and the strong manufacturing base. Middle East and Africa is gradually adopting these solutions, mainly due to the need for greater efficiency in different industries. Latin America, although not yet developed in this area, is beginning to recognize the potential of mobile cobots to reduce labor costs and improve productivity.

North America

• The United States leads the world in the field of the mobile robot, and Amazon and Tesla are among the leading companies in this field. They have incorporated this technology into their logistics and manufacturing processes in order to increase efficiency and reduce labor costs.
• Regulations such as the OSHA guidelines on robots are shaping the implementation of mobile robots in order to ensure the safety and compliance of work places.
• A number of new developments in the field of artificial intelligence and machine learning have made it possible for mobile robots to perform more complex tasks. Fetch Robotics and Locus Robotics are at the forefront of this development.

Europe

• In the EU, the guiding principle of Industry 4.0 is the investment in mobile robots. Germany and Sweden are at the forefront of the research and development.
• The ‘Cobot4Industry’ project, funded by the European Union, aims to improve the integration of cobots in various sectors, promoting innovation and cooperation between companies.
• In many European countries, manufacturers are under pressure from the increasingly strict working-time regulations and a shrinking workforce to adopt mobile robots in order to maintain productivity and remain competitive.

Asia-Pacific

• China has become the world's leading manufacturer of mobile robots, and companies such as Siasun and DJI are constantly investing in R & D to improve their products.
• The resund region is home to many factories, and to overcome labor shortages and increase efficiency, mobile robots are being used more and more often, especially in the automotive and electronics industries.
• Japan's "robot revolution" is promoting the integration of robots in various fields, and the demand for mobile robots is also rising.

MEA

• The United Arab Emirates, for example, is investing in this field as part of its Vision 2021 program, which aims to diversify the economy away from oil.
• The logistics sector has begun to adopt mobile robots, with companies such as Fetch Robotics and others collaborating with local firms to increase the efficiency of their supply chains.
• Among the reasons for this slow acceptance of the use of mobile robots in the region is the culture of automation.

Latin America

• Brazil is emerging as a key market for mobile robots. The local industry is beginning to investigate automation to improve the productivity of the agriculture and industry sectors.
• International companies are also becoming increasingly interested in the region, such as Universal Robots, which is establishing cooperation in the field of mobile robots.
• Various economic factors, such as the lack of skilled labor and the need for cost-effective solutions, are driving the implementation of mobile robots in various industries throughout Latin America.

Did You Know?

“Using co-robots, operators can work side by side with them in the same space, without the need for a safety cage, which makes for greater flexibility in the factory.” — International Federation of Robotics (IFR)

Segmental Market Size

The mobile cobots market plays an important role in the automation landscape, which is experiencing robust growth as a result of the growing demand for flexible production solutions. The key factors driving this segment are the rising need for operational efficiency and the labor shortage in various industries. The recent developments in artificial intelligence and machine learning are also expected to drive the demand for mobile cobots.

In the present day the use of mobile robots is in the process of development and implementation. The great leaders such as DHL and Amazon have already adopted these devices in their warehouses and transport depots. They are used mainly for material handling, assembly-line work, and final delivery, particularly in the field of e-commerce and industry. The tendency towards automation in response to the labour shortage and the general concern for the environment are accelerating this development. In the evolution of these mobile robots, the combination of computer vision and advanced sensors will be of great help in achieving a high degree of integration into existing production and service processes.

Future Outlook

The market for mobile robots is expected to grow from $ 500 million in 2023 to $ 3,180 million by 2032, at a CAGR of 22.44%. This growth is largely due to the increasing use of co-bots in various industries, such as manufacturing, logistics, and health care. By 2032, co-bots will account for up to 30% of the total workforce in certain industries.

A number of trends will be responsible for the future of the mobile robots market. The development of artificial intelligence, machine learning and sensors will continue to enhance the capabilities of mobile robots and make them more adaptable and efficient in changing environments. The promotion of automation and the use of robots in industry by governments will also have a positive effect on the growth of the market. The integration of mobile robots with the Internet of Things and the development of easy-to-use applications will also be a key factor in the market, as companies increasingly recognize the value of automation in streamlining their processes and improving productivity.