The study finds that the yearly revenue for cobot arms will reach $11.8 billion by 2030, an increase from $711 million in 2019.
The collaborative robotics (cobot) market will become increasingly mainstream over the next 10 years, according to “Industrial Collaborative Robots Market Tracker,” new analysis from ABI Research, New York. The study finds that the yearly revenue for cobot arms will reach $11.8 billion by 2030, an increase from $711 million in 2019. More than that, the total value of the collaborative market is considerably more, when accounting for software-related revenues and end-of-arm tooling (EOAT) accessories. Under this broader definition of the market, the cobot ecosystem is worth just over $1 billion in 2019, and will be worth $24 billion by 2030, with a CAGR of 28.6%.
“The prospects for the collaborative robotics market remain strong, despite some very visible inhibitors,” says Rian Whitton, senior analyst. “The hardware innovation is still trailing behind, and most of the value related to cobots does not come from collaboration. It comes through ease-of-use, re-programmability, lower total cost compared to industrial systems and re-deployability. In essence, the value is one of lowering barriers rather than building entirely new use-cases for robots. What is more, cobots still trail industrial systems in speed, performance and payload, which will have to change if adoption is to continue at this feverish rate.”