Vancouver, BC -- (SBWIRE) -- 12/09/2020 -- The Global Cobots Market is anticipated to attain a valuation of USD 9432.8 million by 2027, according to the latest research analysis by Emergen Research. Collaborative robots, also called cobots, transform the way humans and robots interact in several industry verticals such as automotive, electronics, plastics and polymers, healthcare, logistics, and manufacturing. Cobots function alongside the human workforce and drastically reduce the cost, time, and area occupied as compared to traditional robots. Cobots are extensively deployed in an application where precision is necessary, thereby increasing the pace of return on investment. For instance, the Franka Emika Panda cobot performs the tasks with a 0.1 mm precision and continually performs the assigned task.

Cobots offer several benefits to the logistics industry, and its increasing deployment in the end-user industry is a significant market growth driving factor. The exponential proliferation of the e-commerce sector is created an augmented demand for cobots in order to increase efficiency and decrease capital expenditures. The cobots mitigate errors and save labor and time, and enhance the delivery of the goods. For instance, DHL Supply Chain, in 2017, began the pilot testing of LocusBots ™ cobots at a life sciences firm in Tennessee, United States.

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The ongoing COVID-19 pandemic, which began in late 2019, has massively impacted the industrial sector across the globe, with a drastic impact on the manufacturing and production facilities, due to the implementation of social distancing rules and restrictions in the workforce. Cobots offer a highly effective, cost-efficient, and reliable way for firms seeking to automate their facilities, thereby decreasing manual labor dependence. Amid the coronavirus pandemic, the cobots prove incredibly essential to the manufacturers to protect their workflow while simultaneously following restrictions and rules.

Key Findings from the Report:
- Based on payload, the above 10 kg payload capacity segment is estimated to grow at a rapid rate of 39.7% CAGR during the projected timeframe due to their increased capability to manage complex and higher tasks with extreme precision, consistency, and increased reliability.
- Based on the application, the dispensing segment has a higher potential to expand at the highest rate during the estimated timeframe attributable to the dispensing robots' enhanced ability to reduce human errors by diminishing reliance on memory. It is highly beneficial in the healthcare segment as it reduces medication errors, provides prescriptions, and efficiently operates the pharmacy's functions.
- Based on end-users, the automotive industry commanded the market in terms of shares in 2019 and is anticipated to continue to retain its dominance throughout the projected timeframe owing to its augmented flexibility that enhances the productivity of various manufacturing industry operations. Cobots facilitate the seamless provision of services in a rapidly changing consumer demand scenario in the automotive industry.
- Based on the regional analysis, Europe accounted for the maximum market size in 2019 and is anticipated to report a CAGR of 37.2% throughout the forecast period. The region's dominance can be attributed to expanding several end-use industries such as automotive and logistics, healthcare, and others.
- Moreover, enhanced optimization in the manufacturing sector has resulted from workflow automation due to the rapid deployment of cobots.
- Some of the prominent players operating in the industry are Precise Automation, FANUC, Aubo Robotics, Universal Robots, Yaskawa, KUKA, Techman Robot, ABB, Rethink Robotics, and Doosan Robotics, among others.
- In 2019, FANUC America, a leading robotics company, launched a series of innovative cobots for arc wielding operations and have been developed to work side-by-side with the human workforce without protection.

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For the purpose of this study, Emergen Research has segregated the Global Cobots Market based on payload capacity, end-user, application, and regions:

Payload Capacity Outlook (Revenue, USD Billion; 2017-2027)
- Less than 5 Kg
- 5 Kg to 10 Kg
- Above 10 Kg

Application Outlook (Revenue, USD Billion; 2017-2027)
- Handling
- Assembling & Disassembling
- Dispensing
- Welding & Soldering
- Processing
- Others

End-User Outlook (Revenue, USD Billion; 2017-2027)
- Automotive
- Electronics
- Plastics & Polymers
- Furniture & Equipment
- Metals & Machining
- Food & Beverages
- Healthcare
- Others

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Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
o U.S.
o Mexico
o Canada
- Europe
o Germany
o Italy
o U.K.
o France
o BENELUX
o Rest of Europe
- Asia Pacific
o China
o India
o Japan
o South Korea
o Rest of APAC
- Latin America
o Brazil
o Chile
o Argentina
o Rest of Latin America
- Middle East & Africa
o Saudi Arabia
o U.A.E.
o South Africa
o Rest of MEA

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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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