Study: Collaborative robots will experience extraordinary growth in next 10 years
Over the next 10 years, the traditional industrial market will see healthy growth, but due to lower costs and higher flexibility, the co-bot market will experience a much faster adoption.
Over the last 20 years, the industrial market has been the primary adopter of robotics technology, and has accounted for the majority of all robot spend. Largely due to the size and power of most industrial robots in use today, these systems are typically installed in caged environments with minimal human contact for various safety reasons.
However, due to advancements in computer vision and motion sensing capabilities, a new type of industrial robot has emerged, known as collaborative robots, or co-bots. While the co-bot market is small today, this sub-category will see extraordinary growth over the next 10 years, according to a report published by Loup Ventures, Minneapolis.