NEW YORK, Aug. 11, 2016 /PRNewswire/ --
"Global collaborative robots market expected to grow at a high rate"
The global market for collaborative robots is expected to grow at a CAGR of 60.04% between 2016 and 2022 from USD 110.0 million in 2015 and reach USD 3.3 Billion by 2022. The market is expected to be driven by the growing demand because of higher return on investment and low price of collaborative robots that are attracting the small and medium sized enterprises (SMEs), and the increase in investments for automation in industries.
"The market in the automotive industry and furniture & equipment industry is expected to grow rapidly"
The application in the automotive industry accounted for the largest share of the collaborative robot market in 2015 and this trend is expected to continue during the forecast period. However, the increasing installations of collaborative robots in the automotive industry and furniture & equipment industry would provide rapid growth between 2016 and 2022, especially in the Asia-Pacific region.
"Asia-Pacific to be the fastest-growing market"
Europe accounted for the largest share of the global collaborative robots market in 2015. Owing to the early adoption and strict regulations along with safety standards developed by International Organization for Standardization (ISO) and Robotic Industries Association (RIA), the installation of collaborative robots has increased in various applications in Europe. Asia-Pacific accounted for the second-largest market for collaborative robots in 2015 and is expected to surpass Europe by 2018. Asia-Pacific and RoW regions are expected to offer high growth potential for the collaborative robots during the forecast period for various industries.
In the process of determining and verifying the market size for several segments and sub-segments gathered through secondary research, extensive primary interviews of key opinion leaders in the collaborative robots market have been conducted. The break-up of primary participants for the report is shown below:
- By Company Type – Tier 1– 28%, Tier 2 – 52%, and Tier 3 – 20%
- By Designation – C-level Executives – 25%, Directors – 61%, and others – 14%
- By Region – Americas – 43%, Europe – 24%, Asia-Pacific – 24%, and RoW – 9%
The report profiles key players in the collaborative robots market with their respective market share analysis. The prominent players profiled in this report are ABB Ltd. (Switzerland), KUKA AG (Germany), FANUC Corporation (Japan), Robert Bosch GmbH (Germany), Universal Robots (Denmark), Rethink Robots (U.S.) Energid Technologies (U.S.), Precise Automation (U.S.), MRK-Systeme GmbH (Germany), and others.
The report would help leaders/new entrants in this market in the following ways:
1. This report segments the collaborative robots market comprehensively and provides the closest approximations of the size of the overall market and its sub-segments across verticals and regions.
2. The report helps stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report would help stakeholders better understand a competitor and gain more insights to improve their position in the business. The competitive landscape section includes competitor ecosystem, and strategic developments.
Read the full report: http://www.reportlinker.com/p04053333-summary/view-report.html
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
Contact Clare: firstname.lastname@example.org
Intl: +1 339-368-6001
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/collaborative-robots-market-by-payload-application-industry-and-geography---global-forecast-to-2022-300312755.html