Global Mobile Cobots Market Expected to Reach $3 Billion by 2028, Driven by Small Size and Low Cost

DUBLIN, July 12, 2023 /PRNewswire/ -- The "Global Mobile Cobots Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 by Component, Application, Payload Capacity, End-User and Region" report has been added to ResearchAndMarkets.com's offering.

The Global Mobile Cobots Market is projected to experience a positive compound annual growth rate (CAGR) of approximately 20% during the forecast period from 2022 to 2028, reaching a market size of ~US$3 Billion by 2028.

The market growth is attributed to the small size and low cost of mobile cobots, which enable them to perform a variety of tasks efficiently, such as material handling, assembling, and disassembling, in industries such as automotive, electrical and electronics, and more.

Mobile cobots, also known as mobile manipulators or compound robots, are often mounted on Autonomous Mobile Robots (AMRs). These robots can autonomously move between different work areas and quickly shift from one job to another while transporting materials. They have opened up new avenues in industrial automation and are increasingly being adopted in various end-user industries.

The increasing investments in research and development (R&D) and advancements in artificial intelligence (AI), Internet of Things (IoT), and machine learning have led to the development of more efficient cobots equipped with built-in force sensors for enhanced safety in work environments.

Collaborative robots, including mobile cobots, are being preferred over traditional industrial robots in many industries such as automotive, plastics and chemicals, electrical and electronics, and food and beverages. According to the International Federation of Robotics (IFR), the number of collaborative robots installed globally increased from 11,000 to 22,000 between 2017 and 2020, while the number of traditional industrial robots installed decreased during the same period.

The increasing investment in warehouse automation presents significant opportunities for mobile cobots due to their small size and cost-effectiveness. These robots can perform tasks with less space and at half the cost of traditional industrial robots.

The future of robotics is expected to be more mobile, with the unit sales of Autonomous Mobile Robots (AMRs) projected to increase by 31% annually in the logistics sector between 2020 and 2023, according to the International Federation of Robotics (IFR).

Industry 4.0 and smart factories are deploying mobile robots, including mobile cobots, in the production process and material handling. With the increasing use of machine learning and artificial intelligence, mobile cobots will be able to perform even more complex tasks with less human interaction.

The deployment of mobile cobots across major end-user industries was significantly affected by the COVID-19 pandemic. The sales of robots, both industrial and collaborative, decreased from 400,000 units in 2017 to 384,000 in 2020, according to the International Federation of Robotics (IFR).

Scope of the Report:

The Mobile Cobots market is segmented by:

• Component (Hardware, Software, Services)
• Application (Material Handling, Soldering & Welding, Assembling & Disassembling, Milling, Cutting & Processing, Picking and Placing, Palletizing and De-palletizing, Painting and Dispensing, Machine Tending, Others)
• Payload Capacity (5-10 kg, >10 kg)
• End User (Automotive, Plastics & Chemical, Electrical & Electronics, Food & Beverages, Healthcare & Pharmaceuticals, Aerospace, Agriculture, Retail & Logistics, Others)
• Region (North America, Europe, Asia-Pacific, LAMEA)

Recent Developments Related to Major Players:

• In 2022, SIASUN introduced collaborative robots to deal with supply chain congestion caused by the Covid-19 pandemic.
• In June 2022, Universal Robots announced the launch of a new 20kg cobot called the UR20, designed for highly sophisticated engineering.
• In January 2022, KUKA and Ford Otosan signed a framework contract for supplying over 700 robots for Ford's EV and connected commercial vehicle projects.

Major Companies Profiled in the Report:

• ABB
• FANUC CORPORATION
• Yaskawa Electric Corporation
• Kuka AG
• Universal Robots
• Kawasaki Heavy Industries, Ltd
• Omron Corporation
• Siasun
• Denso
• Mitsubishi Electric Corporation
• Comau
• AUBO Robotics
• Jaka
• Sastra Robotics Pvt Ltd
• Asimov Robotics
• Techman Robot
• Ken Robotech
• Asage Robotics
• Neura Robotics

For more information about this report visit https://www.researchandmarkets.com/r/5o824m

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