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Mobile Cobots Market

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Mobile Cobots Market Projected to Reach US$ 4,472.53 Mn by 2026
According to a new market research report, published by Transparency Market
Research, the mobile cobots market is expected to reach US$ 4,472.53 Mn by 2026,
expanding at a CAGR of 33.4% from 2018 to 2026. According to the report, the
mobile cobots market is likely to continue to be influenced by a range of
macroeconomic and market-specific factors in the next few years. In terms of
demand, Asia Pacific is projected to lead the global market during the forecast
period. The market in the region is likely to expand at a CAGR of 35.9% from 2018
to 2026. South Korea and Japan are expected to be major contributors to the mobile
cobots market in Asia Pacific during the forecast period.
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Inclination toward Industrial Automation
A mobile cobot (mobile collaborative robot) is an intelligent, transportable robot that
can assist humans in a shared workspace. Mobile cobots are moving platforms
wherein cobots are mounted on mobile robots. These are automated machines. It is
an emerging technology that is capable of moving within a set environment. Apart
from the manufacturing industry, mobile cobots are used for research and
exploration. Currently, use of mobile robots has extended to the industrial sector. In
the recent years, there has been a significant rise in the demand for industrial robots
in the automotive sector. This can be attributed to increasing customer demand for
customization in their cars. Unlike industrial robots, collaborative robots are not
dedicated to only a single task. Hence, manufacturers are now switching to
collaborative robots. Inclination toward industrial automation is acting as a driver of
the mobile cobots market. Robots have been utilized in industries for a long time.
They have made the human work easier by running large industrial settings. Robots
in factories have typically been large, caged devices that perform repetitive,
dangerous tasks in place of humans. Moreover, rising labor costs in developing
economies, mostly in material handling industries, are driving the demand for cobots.
This is primarily due to economic growth of industrialized countries.
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Global Mobile Cobots Market: Scope of Report
The global mobile cobots market has been broadly segmented in terms of weight
capacity, application, end-use industry, and geography. Based on weight capacity, the
market has been segregated into 1 to 3 kg, 3 to 5 kg, and 5 to 10 kg. Among these,
the 3 to 5 kg segment accounted for a major share of more than 50.0%, in terms of
revenue, in 2017. The segment is anticipated to expand at a CAGR of 33.5% during
the forecast period. In order to fulfill the global demand, various manufacturers of
mobile cobots are currently focusing on research and development activities in order
to invent advanced applications of mobile cobots. Cobots are gaining popularity
among manufacturing companies and different industries. The primary factor boosting
the global mobile cobots market is decline in costs of collaborative robots over the
last few years. Upfront costs of cobots are 20% of those of traditional robots with an
average payback period as short as six to eight months. Also, installation of cobots
requires minimal investments and time.
Author
monali raghu
monali raghu349   documents Email
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