Study: Cobot market to account for 30% of total robot market by 2027
Material handling, assembly and pick-and-place will be the three biggest applications of collaborative robots.
Interact Analysis, UK, released “The Collaborative Robot Market – 2019,” a report that indicates strong and sustained growth for the collaborative robot industry.
In 2018, global revenues from cobot production exceeded $550 million. This was almost a 60% increase over 2017; and over 19,000 cobots were shipped. Interact Analysis forecasts that revenues for cobots will reach $5.6 billion in 2027, accounting for almost one-third of the total robotics market. Also, below 5-kg cobots and 5- to 9-kg cobots will represent the majority of sales in 2023.