The industrial sector is undergoing rapid digital transformation to counter the increasing complexity of production processes and achieve higher productivity, which is subsequently fueling the demand for industrial automation solutions. Additionally, the surging need for reducing labor costs in the manufacturing sector is also facilitating the adoption of such solutions.
Thus, the burgeoning demand for industrial automation solutions will result in the large-scale adoption of mobile collaborative robots (cobots) in the foreseeable future. Additionally, the surging use of mobile cobots in the automotive sector will drive the mobile collaborative robots market at a robust CAGR of 26.3% during the forecast period (2020–2030). According to P&S Intelligence, the market revenue stood at $543.3 million in 2019 and it will reach $6.8 billion by 2030.
Automotive original equipment manufacturers (OEMs) use mobile cobots for welding, material handling, and assembling applications to offer improved output and standardization in the production process. Mobile cobots with varying payload capacities are used in the aerospace and defense, agriculture, automotive, construction, electronics, food and beverage, healthcare, manufacturing, mining and mineral, and retail industries.
These end users use such robotic systems in assembling, machine tending, material handling, packaging, pick and place, quality inspection, and welding applications. To meet the needs of end users, Kawasaki Heavy Industries Ltd., Siasun Robot & Automation Co. Ltd., TECHMAN ROBOT INC., Diligent Robotics Inc., Robotnik Automation S.L.L., ABB Ltd., Aubo Robotics, and Shenzhen Yuejiang Technology Co. Ltd. (DOBOT) are focusing on facility expansions.
Globally, the Asia-Pacific (APAC) mobile collaborative robots market generated the highest revenue in 2019, and it will continue this trend in the forecast years as well, owing to the burgeoning demand for consumer electronics and electronic vehicles (EVs) in India, South Korea, and China. Additionally, the booming population and mounting disposable income of people will also contribute to the market growth in the region.
Moreover, the increasing presence of consumer electronics manufacturers and the rising inclination of end-use industries toward industrial automation will help the APAC market exhibit the fastest growth during the forecast period. Therefore, the rising demand for industrial automation solutions and the surging need for improving the production process in the automotive sector will lead to the widescale usage of mobile cobots globally.
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