The collaborative robot market is one of the most highly competitive markets, with leading players competing intensely to gain a larger share in this business. The competitive landscape of the collaborative robot market shows companies adopting both organic strategies, including business expansions and product launches and inorganic strategies, including partnerships/ agreements /collaborations and acquisitions to gain a major share of the industry.

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The global collaborative robot market is becoming increasingly competitive as new players are entering the market. A number of new players have emerged in the market that provides cobots with different payloads for different industries and applications. These companies compete in terms of technological innovation, functionality of the system, and cost. Leading companies such as ABB Ltd, Universal Robot A/S, Doosan Robotics, and others are adopting inorganic growth strategies such as partnerships and collaborations to strengthen their product portfolio. In order to proficiently persist and prevail in such a competitive environment, the key companies need to provide cost-effective and high-quality services. The existing companies, as well as new entrants, which employ innovative solutions to cater to the demand for different end users, are anticipated to benefit from this untapped market potential.

Some of the key players in the global collaborative market include Aubo Robotics (the U.S.), Yaskawa Motoman (the U.S.), Bosch Rexroth AG (Germany), Comau SPA (Italy), Denso Robotics, Inc (Japan), Nachi Robotics System, Inc (Japan), Precise Automation, Inc. (U.S.), Productive Robotics, Inc. (U.S.), Seiko Epson Corporation (Japan), and Techman Robot (Taiwan).

These companies are working toward improving their product portfolio and extend their regional presence. With the ongoing efforts of industry players to develop high-end solutions for different industries, the global collaborative robot market is anticipated to grow at an exponential rate in the next five years (2020-2025).

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With the introduction of automation and robotics in industrial and manufacturing processes, challenges related to productivity, quality, and cost associated with traditional manufacturing processes have addressed to a large extent. Manufacturing companies are rapidly adopting industrial robotics solutions to streamline their process so that optimum utilization of resources can be achieved. The productivity at workplaces can be improved with the introduction of collaborative robots in the manufacturing facility, as cobots can easily perform intricate and repetitive tasks. Collaborative robots are deployed in industries where tasks are repetitive but require high precision and accuracy. The overall time-saving increases the throughput, thus outweighing the high initial investment. As a result, the return on investment is higher. Moreover, human resources can be deployed on other tasks that bring much more value to the company. These factors are expected to have a cascading effect on the operations of the company, resulting in better utilization of resources.

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