According to Goldstein Research, global collaborative robots market is expected to reach USD 6.84 billion by 2024from USD 0.79 billion in 2016, growing at a CAGR of 44.72% over the forecast period 2016-2024.Rising investment in industrial automation and higher return is driving the demand for collaborative robots globally. Global collaborative robots market segmentation has been carried out on the basis ofpay load capacity type, application type and end-user type. Collaborative robots with pay load capacity above 10kg are projected to witness noteworthy growth, owing to its high efficiency in pick and place application. Global collaborative robots market is dominated by Europe, followed by North America and Asia-Pacific. Growing implementation of collaborative robots in material handling & packaging, quality testing, welding and others is increasing the annual shipments of industrial collaborative robots in Europe. Germany occupied the largest share of Europe collaborative robots market in 2016.
Market Segmentation
On the basis of our in-depth analysis, Global Collaborative Robots Market can be segmented as follows:
• Based on Pay Load Capacity
o Up to 5 Kg
o Up to 10 Kg
o Above 10 Kg

• Based on Application
o Handling Robots
o Packaging Robots
o Pick and Place Robots
o Quality Testing Robots
o Welding Robots
o Others( Gluing, Machine Tending) Robots

• Based on End-User
o Automotive
o Metal and Machining
o Furniture and Home Equipment
o Food and Beverages
o Electronics & Technology
o Plastic and Polymers
o Others (Pharma & Chemistry)

• By Region
o North America (US, Canada) {Market Share (%), Market Size (USD Billion, Adoption Rate (%)}
o Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
o Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
o Latin America (Brazil, Mexico and Rest of Latin America) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
o Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
o Rest of the World {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}


“Global Collaborative Robots Market Outlook 2024”contains detailed overview of the global collaborative robots market. On the basis of our in-depth analysis, market can be segmented in terms of market segmentation by pay load capacity type, by application type and by end-user type.
Further, for the in-depth analysis, Global Collaborative Robots Market Report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis. This market report also includes competitive outlook of some of the major players profiling of companies such asRobert Bosch GmbH, ABB Ltd., FANUC Corporation, etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments. Overall, the report represents the global collaborative robots market trends along with market forecast that will help industry consultants, technology providers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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