© universal robots Analysis | November 12, 2019
Cobot market to reach USD 9+ billion by 2025
A new report from Tractica is forecasting continued rapid growth for the global collaborative robot (cobot) market over the next few years, reaching revenue of USD 9.7 billion by 2025.
Driving demand in companies of all sizes are the benefits of the adoption of cobots, including reduced costs, increased safety, and personnel efficiencies. With an increasing number of startups entering the industry with new user-friendly co-bot offerings, the market is growing even more competitive and diverse, despite speed bumps such as high costs and the requisite planning, deployment, and training time. Tractica Senior Analyst Glenn Sanders said, “New opportunities are opening in the market as makers develop cobots with higher payload capacities and speed. The integration of cobots with the industrial Internet of Things (IIoT) opens new possibilities for the coordination of cobots doing smart manufacturing with the rest of the automation processes. Humanlike abilities of perception, object recognition, gripping and manipulating objects, and dual grippers present the potential to drive greater demand in the coming years.” The newly released report shines a light on the cobot market and presents eight-year revenue forecasts for the industry. Also discussed are market drivers, challenges, and industry applications, in addition to assessments of technology issues expected to influence market development. More information, as well as an executive summary of the report is available for free download on the Tractica website.