The global collaborative robots market size is projected to reach USD 11,684.7 million by 2027, exhibiting a CAGR of 42.0% during the forecast period. Introduction of robotics technology in agriculture will create several opportunities, states Fortune Business Insights™ in its report, titled “Collaborative Robots Market Size, Share & COVID-19 Impact Analysis, By Payload Capacity (Upto 5 Kg, 6-10 Kg, 11 Kg and Above), By Application (Welding, Material Handling, Quality Testing, Painting/Spraying, Assembling, Others), By Industry (Automotive, Electronics & Semi-Conductors, Food & Beverages, Retail, Metal & Machining, Rubber & Plastic, Others), and Regional Forecast, 2020-2027”.
Request a Sample Copy of the Global Market Research Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/collaborative-robots-market-101692
Agricultural productivity and efficiency can get substantially boosted with the deployment of advanced technologies such as collaborative robots, which can aid farmers in routine farming tasks. To that end, private organizations and academic institutions are developing innovative robots in a bid to bolster agricultural operations worldwide. For example, a Florida-based company, Harvest CROO, developed a strawberry-harvesting robot called Berry 5, which helps in picking and packing ripe berries at a pace significantly faster than humans. Similarly, researchers at the University of Cambridge developed “Vegebot”, a robot embedded with Machine Learning (ML) algorithms that enable it to harvest fresh lettuce and also allow it to decipher between ripe and diseased lettuce.
Some of the leading companies that are operating in the global market are:
- Universal Robots
- Rethink Robotics GmbH
- Denso Wave Incorporated
- Fanuc Corporation
- Bosch Rexroth AG
- Yaskawa America, Inc.- Motoman Robotics Div.
- AUBO Robotics
- Stäubli International AG.
- K2 Kinetics
Factory Automation Trends to Drive Market Growth in Europe
With a market size of USD 352.3 million in 2019, Europe is set to lead the collaborative robots market share in the coming years on the back of growing demand for automation of industrial production processes. Companies in this region are pumping large amounts of money in research & development activities to engineer advanced robotics solutions using Industry 4.0 technologies such as Artificial Intelligence (AI) and Internet of Things (IoT). This factor will crucial for the cobots market growth in the region.
In Asia Pacific, the primary growth drivers will be rapid expansion of the manufacturing sector in India and China and proliferation of small and medium enterprises in the region. In North America, strong governmental support to advanced manufacturing technologies and active adoption of smart factories will be the central factors propelling the market.
April 2020: OnRobot, the Danish collaborative robots specialist, released “Eye”, its next-gen 2.5D vision system. The system can work on an application based on a single image taken for part recognition and calibration, with its 2.5D vision allowing unrivalled depth perception.
February 2020: Universal Robots (UR) and Mobile Industrial Robots (MiR) announced investment of USD 36 million to acquire a building site in Odense. Backed by their US-based parent company Terdyne, UR and MiR will build the world’s biggest hub for these robots at the site.
Order Complete Report https://www.fortunebusinessinsights.com/checkout-page/101692
Other Exclusive Reports:
Soft Services Facilities Management Market 2021 | Trends, Growth Demand, Opportunities & Forecast To 2026
Wireless Sensor Network Market Opportunities, Share Analysis Up To 2026
Tax Management Software Market 2021 – Industry Size, Share, Dynamics, Status, Outlook and Opportunities: 2026
Workforce Management Market Opportunities, Share Analysis Up To 2026
Elevator and Escalator Market Opportunities, Share Analysis Up To 2026
Milling Machine Market 2021 | Size, Growth, Demand, Opportunities & Forecast To 2026
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune – 411045, Maharashtra, India.
US :+1 424 253 0390
UK : +44 2071 939123ac
APAC : +91 744 740 1245
Email: [email protected]