Skip to main content

Collaborative Robot Adoption is Driven by Manufacturers

The collaborative robot (cobot) industry is advancing globally as more companies seek to lower manufacturing costs and increase the speed of production. While the established industrial robot vendors have made some progress, the pure cobot developers are creating ergonomic systems.

Guided by early innovators and adopters, the collaborative robotics market will become mainstream over the next 10 years. According to the latest worldwide market study by ABI Research, the yearly revenue for cobot arms will reach $11.8 billion by 2030 -- that's an increase from $711 million in 2019.

Collaborative Robot Market Development

Furthermore, the total value of the collaborative market is much greater, when accounting for software-related revenues and end-of-arm tooling (EOAT) accessories. Under this broader definition of the market, the cobot ecosystem is worth just over $1 billion in 2019 and will be worth $24 billion by 2030, with a CAGR of 28.6 percent.

"The prospects for the collaborative robotics market remain strong, despite some very visible inhibitors," said Rian Whitton, senior analyst at ABI Research. "The hardware innovation is still trailing behind, and most of the value related to cobots does not come from collaboration."

According to the ABI assessment, the real benefits come through ease-of-use, re-programmability, the lower total cost compared to industrial systems, and re-deployability. In essence, the value is one of lowering barriers rather than building entirely new use-cases for robots.

Moreover, cobots still trail industrial systems in speed, performance, and payload, which will have to change if adoption growth is to continue at this accelerated rate.

Currently, the cobot market as a percentage of the industrial market is very small. In terms of revenue, all revenue from cobot arms is 5 percent of industrial robot hardware, but that will increase to 29 percent by 2030.

Through advances in sensors, machine vision, and motion control, industrial robots will increasingly take on the benefits of collaborative systems. The value prospect for software innovation is strong too, growing from $558 million in 2020 to $10.6 billion in 2030. Most of this value will be attributed to analytics, perception, motion control, and operations-related software.

With 59 percent of global cobot shipments in 2018, Universal Robots is the clear market leader. They have managed to achieve relevance for screw-driving applications in the auto industry, attracting the business of big car manufacturers and component suppliers like Lear and Continental, while also being employed by smaller companies for pick & place and machine tending applications.

Some companies, like manufacturer Jabil, are deploying collaborative robots en masse for their effectiveness as re-deployable and flexible assets in an increasingly fast-changing working environment.

Outlook for Cobot Applications Innovation

Manufacturing is requiring more flexibility through customization, last-minute orders, and the increasing relevance of high-volume, low-mix automation. To meet this challenge, the current roster of cobot solutions are not a complete panacea but are an important step in the direction of a leaner and more flexible workstation.

"Collaborative systems are not revolutionizing the industry so much as being the catalyst for a leaner and more flexible industrial robotic solution that opens the field up to small and medium manufacturers," Whitton concludes.

As the demands of customization and high-mix, low-volume manufacturing present managers with new challenges, ABI analysts believe that this technological development will be crucial in transitioning to a more adaptable solution.

Popular posts from this blog

2022 Tech Trends Outlook: What Happens Next?

This year may very well be another period of unprecedented challenges and opportunities. In 2022, several highly anticipated technology-related advancements will NOT happen, according to the predictions by ABI Research. Their analysts identify many trends that will shape the technology market and some others that, although attracting huge amounts of pundit speculation and commentary, are less likely to advance rapidly over the next twelve months. "The fallout from COVID-19 prevention measures, the process of transitioning from pandemic to endemic disease, and global political tensions weigh heavily on the coming year's fortunes," said Stuart Carlaw, chief research officer at ABI Research . What Won’t Happen in 2022? Despite all the headlines and investments, the metaverse will not arrive in 2022 or, for that matter, within the typical 5-year forecast window. The metaverse is still more of a buzzword and vision than a fully-fledged end goal with a clearly defined arrival d

Digital Transformation for the Oil and Gas Sector

The savvy CEOs of multinational organizations will accelerate their investment in digital transformation projects in 2022, and beyond, to improve their competitiveness. Every industry leader that is forward-looking will act swiftly to grasp the upside opportunity. Global oil & gas companies face a myriad of operational, commercial, and existential security threats. According to the latest worldwide market study by ABI Research, oil & gas firms apply digitalization to combat these threats and will spend $15.6 billion on digital technologies by 2030. Oil & Gas Digital Apps Market Development Investments in digitalization can help to analyze a supply pipeline’s condition, prepare for fluctuations in the changing prices for oil and gas, as well as aid action plans to create more sustainable operations and transfer to producing renewable energy sources. "Safety and Security are top priorities for oil & gas operators. Data analytics allied with IoT platforms have become

How Ride-Sharing Apps Changed Local Transport

Building on significant advances in disruptive mobile app technology, ride-sharing services have emerged to become a popular means of urban mobility. This is unsurprising given the advantages of ride-sharing options over traditional transport modes, such as buses and more expensive taxis. Innovative ride-sharing platforms enable app users to customize their journeys according to real-time phenomena, such as nearby traffic conditions, time of day, and rider demand. However, this is not to say that ride-sharing services are perfect. The popularity of ride-sharing has resulted in some additional traffic congestion in major cities already struggling to control this issue, while the widespread disruption caused by the pandemic affected most stakeholders within the local transportation value chain. Ride-Sharing App Market Development According to the latest worldwide market study by Juniper Research, ride-sharing spending by consumers globally will exceed $937 billion by 2026 -- that's c