Global Collaborative Smart Robots market will reach 9766 million US$ by the end of 2025

Publisher: QYResearch
Published Date: 2019/9/26

Europe will witness a remarkable market share to due to growing application of cobots in various verticals such as logistics, inspection, and electronics. This will be attributable to rising demand for efficient manufacturing with resource optimizing solutions provided by automation. Increasing focus on precision and quality of robots in Asia Pacific region has also created lucrative opportunities for this regional market.

Food and beverage, automotive, plastics and polymer, electronics, metals and machining, and others are the end-user industries. The automotive segment will dominate the collaborative smart robots market due to factors such as a reduction in the floor space and declining cost of production. Table-top robot and mobile robots are the product type segments of the global collaborative robots market.

The global Collaborative Smart Robots market was 551 million US$ in 2018 and is expected to 9766 million US$ by the end of 2025, growing at a CAGR of 49.8% between 2019 and 2025.

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