The “Global Collaborative Robots (Cobots) Market, 2020-2030” report features an extensive study of the potential applications, current landscape and the likely adoption of cobots across various industrial applications, over the next decade. The study features an in-depth analysis, highlighting the capabilities of various industry stakeholders engaged in this field.
Cobots, also referred to as collaborative robots, are programmed to work in collaboration / cooperation with humans in a shared space or to work safely, in close proximity.
As per the International Federation of Robotics (IFR), there are four key attributes of cobots:
- Co-existence: These cobots can work alongside humans in same workspace, however, there should not be any direct overlap in minutiae of their labor.
- Sequential Collaboration: These cobots can also work alongside the humans, however, they should not work on the same product at the same time. These cobots work either before or after the human worker in the sequence of production for a task.
- Responsive Collaboration: These cobots respond directly to the actions undertaken by the human. They are operated for executing complicated tasks.
- Co-operation: These cobots operate alongside humans and can work together on the same task in the sequence of process.
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Owing to their collaborative nature, there is an evident increase in the adoption of cobots in the industries, where frequent and repetitive tasks have to be performed.
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Unlike robots, cobots do not displace the manpower, instead work alongside the humans.
Owing to their affordability and ease of programming, the future of cobots is promising; in fact, the market for such machines is expected to witness double-digit growth. It is worth highlighting those developing nations, such as China, India are also deploying automation to maintain their positions as global contract services hubs, as manual labor costs swell over time. Moreover, with the growth of industrial internet of things (IoT), increased device autonomy, rising process complexity, and evolving health and safety requirements, SMEs are likely to rely more on the cobots in the next 4-5 years. Having said that, we are led to believe that cobots are likely to offer lucrative business opportunities to the stakeholders working in this domain.
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