Significant Growth in Collaborative Robot (Cobot) Market
According to MarketsandMarkets, the global collaborative robot market is projected to grow from USD 981 million in 2020 to USD 7,972 million by 2026; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 41.8% during 2020–2026. Unlike traditional industrial robots, collaborative robots (cobots) provide a fast ROI (as low as 6 months in many cases), which benefit both SMEs and large companies. This is one of the primary drivers for its adoption. In tandem, emerging companies...
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