The Asia Pacific Collaborative Robots Market would witness market growth of 40.6% CAGR during the forecast period (2022-2028).
Although collaborative robots may be less expensive than industrial robots (mostly due to their smaller size), the cost of the investment as a whole must also be considered. The cost gap increases when all the ancillary considerations are considered. As an illustration, it is cost-effective to do without a work cell and all that entails (hardware, labour, and time). Employee training and a robotics expert is not required to supervise or maintain operations. In contrast to industrial robots, it is optional.
Cobots have a shorter ROI (return on investment) period than six-axis robots, which might take up to 18 months. A second arm, which is not present in conventional industrial robots, is a feature that a few businesses have introduced to cobots. Two arms are thought to be advantageous for sensitive operations such as tightening screws or assembling small pieces (like electronics components), which can speed up the process and increase flexibility. Another use would be parallel bin picking. With two robotic arms, the task of scooping up small components from bins in haphazard positions can be completed more quickly.
Sales of collaborative robots are expected to soar in China as more industrial businesses use them to supplement their human labour force. According to the report, that was collectively released by the Danish manufacturer of smaller flexible industrial collaborative robots Universal Robots and the Shenzhen Gaogong Industry Research Consulting Co Ltd., cobots have recently obtained recognition from a broad range of sectors because the earliest commercial cobot was manufactured by Universal Robots in 2008. (GGII).
The China market dominated the Asia Pacific Collaborative Robots Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,104.1 million by 2028. The Japan market is anticipated to grow at a CAGR of 39.8% during (2022 - 2028). Additionally, The India market is poised to grow at a CAGR of 41.5% during (2022 - 2028).
Based on Application, the market is segmented into Assembly, Handling, Quality Testing, Packaging, Pick & Place, Machine Tending, Gluing & Welding and Others. Based on Component, the market is segmented into Hardware and Software. Based on Payload, the market is segmented into Up to 5kg, Up to 10kg and Above 10kg. Based on Vertical, the market is segmented into Automotive, Food & Beverage, Furniture & Equipment, Electronics, Plastic & Polymers, Metal & Machinery, Pharma and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Collaborative Robots Market is Projected to reach USD 10.8 Billion by 2028, at a CAGR of 40.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ABB Group, Robert Bosch GmbH, Denso Corporation, Seiko Epson Corporation, FANUC Corporation, Yaskawa Electric Corporation, Teradyne, Inc. (Universal Robots A/S), Techman Robot, Inc. (Quanta Storage, Inc.), Stellantis N.V. (Comau S.P.A), and Kuka AG (Midea Investment Holding Co., Ltd.)
By Application
By Component
By Payload
By Vertical
By Country
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