Collaborative Robots Market Business Analysis 2022-2031: Comprehensive Growth Insights, Current Industry Trends, witness Highest Growing CAGR, New Developments, and Upcoming Technologies

Kenneth Research has evaluated the current market opportunities in Collaborative Robots Market in the healthcare industry for the forecast period 2022-2031, which also includes the ongoing industry trends and innovations that will help industry players to attain their business targets. Apart from that, the inclusive data on market size, market share and forecast, growth opportunities and challenges for the market players, along with the worldwide analysis on regions- North America, Latin America, Europe, Asia Pacific and Middle East & Africa, has also been provided in the report.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Collaborative Robots Market products.

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Moreover, the median health expenditure per capita recorded in the high-income, upper-middle income, and low & lower-middle income countries, recorded to be over USD 2,000, USD 400, and USD 100 respectively. Additionally, in the same year, the spending on health in high-income countries and in the low- and middle-income countries comprised approximately 8.2% and 6.3% of the GDP respectively.

Global Collaborative Robots Market is expected to reach $1.3 Billion by 2024 from $0.1 Billion in 2016, growing at a CAGR of 33.2% from 2016 to 2024. Collaborative robots are designed with the combination of precision & speed of machine and flexibility of humans. They are capable of assisting or even work along with humans. They are affordable and can be trained easily. Collaborative robots are widely used in automotive and electronic sectors, where most of the short runs, repetitive and boring jobs are done by these robots. Hospitals and healthcare centers are also deploying collaborative robots to aid in improving the overall quality of patient care, reduce waste and decrease hospital costs. For instance, two well-known hospitals in Belgian have deployed humanoid robots at their reception desk to welcome patients and visitors. Collaborative robots are now used in assisting humans at various places such as offices, labs, homes, warehouse, and farms among others.

The factors such as increased demand for robots in plastic, electric and automotive sector, rising labor costs, lack of skill and professional labors and high adoption for domestic as well as commercial purposes are propelling the growth of the global collaborative robots market. Moreover, non-industrial sector would provide several opportunities in coming years. Though, slow pace in making new additions of latest functionalities and economic slowdown in major countries might hamper the adoption of these robots globally.

The global collaborative robots market is categorized based on the payload, application, industry and geography. By payload, it is segmented into up to 5kg, 6-10kg and above 10kg. Furthermore, applications are segmented into machine tending, packaging, handling, assembly, quality testing, welding and others. Industry can be segmented into automotive, food & beverage, aerospace, plastic & polymers, metal & machining and others.

By geography, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). The U.S., Canada and rest of North America are covered under North America wherein Europe covers U.K., Germany, France, Italy and Rest of Europe. Asia-Pacific covers India, China, Japan and Rest of Asia Pacific. Rest of the World (RoW) covers South America, Middle East and Africa.

The major players in the market include Robert Bosch GmbH, Universal Robots A/S, Kawasaki Heavy Industries, Ltd., Energid Technologies Corporation, Rethink Robotics, ABB Ltd., Precise Automation Inc., F&P Robotics AG., KUKA AG, and FANUC Corporation.

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The key takeaways from the report:
The report will provide detailed analysis of Collaborative Robots with respect to major segments such as payload, application, industry type and geography of the market. The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024. Comprehensive analysis of market dynamics including factors and opportunities. An exhaustive regional analysis of Collaborative Robots market.
Profile of key players of the Collaborative Robots, which include key financials, product & services and new developments.

Scope of Collaborative Robots Market:
Payload Segments
up to 5kg
above 10kg
Application Segments
Machine Tending
Quality Testing
Industry Segments
Food & Beverage
Plastic & Polymers
Metal & Machining
Geography Segments
North America

Rest of North America
Rest of RoW

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About Kenneth Research

Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defense, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.
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