Mobile Cobots Global Market Report 2022: Industry 5.0 is Expected to Create Lucrative Opportunities

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Jan 12, 2023, 14:00 ET

DUBLIN, Jan. 12, 2023 /PRNewswire/ -- The "Mobile Cobots Market by Component Payload Capacity, Application, and By End-use Industry - Global Opportunity Analysis and Industry Forecast 2022-2030" report has been added to ResearchAndMarkets.com's offering.

The Mobile Cobots Market size was valued at USD 656.1 million in 2021 and is projected to reach USD 7,660.4 million by 2030 at a CAGR of 30.7% during the forecast period, 2022-2030.

The increasing demand for mobile collaborative robots in the automotive industry drives the market growth. Mobile cobots are an ideal solution for the automobile industry due to their benefits, including high-quality output and standardization of the production process. These robots support workers and perform tasks that can be hazardous to them, which include heavy lifting, welding, handling liquid metal, and exposure to dangerous fumes or extreme temperatures.

The mobile cobots are designed to overcome labor shortages and boost worker productivity and safety, which are usually faced by the automotive industry. This is further expected to propel the growth of the mobile cobot market.

However, the high cost of investment and the expensive initial cost of cobots required for acquisition, integration, accessories, programming, and maintenance restrains the market's growth.

On the contrary, the growing implementation of Industry 5.0 aims to increase industrial production efficiency by collaborating robots with human workers. The introduction of faster, smaller, and more flexible cobots has accelerated the development of Industry 5.0. It offers advanced safety features that allow humans to play a significant role in a wider variety of production processes, creating ample growth opportunities in the mobile cobots market in the near future.

Segment Overview

The global mobile cobots market is segmented based on component, payload capacity, application, end-use industry, and geography.

The market is classified into hardware, software, and services based on components.

Based on the payload capacities, the market is categorized into 1 to 3 kg, 3 to 5 kg, 5 to 10 kg, and above 10 Kg.

Based on the applications, the market is divided into assembly, machine tending, quality inspections, process, material handling, and others.

Based on the end-use industry, the market is bifurcated into automotive, retail, healthcare, electronics & semiconductor, food & beverage, aerospace & defense, manufacturing, mining & mineral, and others.

Based on geography, the market is segmented into North America, Europe, Asia-Pacific, and RoW.

Regional Analysis

The Asia-Pacific market is projected to hold the dominant share by 2030.

Asia-Pacific dominates the global mobile cobots market and is expected to remain dominant throughout the forecast period. This is attributed to the constantly rising population in this region's countries, further boosting the demand for consumer goods and leading to the rising adoption of robotics in industries.

This has resulted in a spike in the robotics manufactured in this region and catapulted fuel exports, which drive the mobile cobots market. For instance, Japan is the leading exporter of robots. According to the International Federation of Robotics (IFR), the export ratio rose to 78%, and 136,069 robots were shipped in 2020.

Furthermore, the presence of leading robotic manufacturers such as Fanuc, Yaskawa Electric Corporation, and Kawasaki Robotics in the Asia-Pacific further boosts the mobile cobot market growth in the region. For instance, in February 2022, Yaskawa launched two new collaborative robots, HC10DTP and HC20DTP, for industrial applications. The HC10DTP and HC20DTP enable humans to work with robots safely.

Market Dynamics

Drivers

Growing Demand for Automation Solutions from Various Sectors
Increasing Usage of Bin-Picking Mobile Cobots in Factories and Warehouses
Increasing Demand for Mobile Cobots from the Automotive Industry

Restraints

High Setup Cost and Lack of Skilled Workforce

Opportunities

Industry 5.0 is Expected to Create Lucrative Opportunities for the Market

Key Market Players

Some of the emerging and leading players in the mobile cobots market include:

Universal Robots
Fanuc Corporation
Yaskawa
Kuka AG
Aethon
Staubli International AG
Festo
Teradyne Inc.
Fetch Robotics Inc.
Precise Automation

Key Topics Covered:

1. Introduction

2. Mobile Cobots Market - Executive Summary

3. Market Overview

4. Market Share Analysis

5. Global Mobile Cobots Market, by Component

6. Global Mobile Cobots Market, by Payload Capacity

7. Global Mobile Cobots Market, by Applications

8. Global Mobile Cobots Market, by End-Use Industry

9. Global Mobile Cobots Market, by Region

10. Company Profiles

Companies Mentioned

Universal Robots
Fanuc Corporation
Yaskawa
Kuka AG
Aethon
Staubli International AG
Festo
Teradyne Inc.
Fetch Robotics Inc.
Precise Automation

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

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