Growth predicted for cobot market

09 December 2019

A new collaborative market report from Interact Analysis has found that the growth rate of collaborative robots (cobots) is leading the robotics industry. It also says that logistics will surpass automotive to be the second largest end user of cobots by 2023, with electronics in first place.

According to ‘The Collaborative Robot Market – 2019’  global revenues from cobot production exceeded $550 million in 2018. This was almost a 60% increase over 2017; and over 19,000 cobots were shipped. 

Interact Analysis has forecast that revenues for cobots will reach $5.6 billion in 2027, accounting for almost one-third of the total robotics market, and that <5kg and 5-9 kg cobots will represent the majority of sales in 2023. 

According to the report the three biggest application areas for collaborative robots will be material handling, assembly and pick & place. But these functions, which accounted for 75% of cobot revenues in 2018, will drop to below of 70% total revenues by 2023, as other functions for cobots are developed. 

The use of cobots in non-industrial applications will play a significant role in the coming years - in sectors such as life sciences, logistics, and the hospitality sector. 

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