Collaborative Robots Market To Reach $6.77 Billion By 2025: Grand View Research, Inc.
The global collaborative robots market is expected to reach USD 6.77 billion by 2025, according to a new report by Grand View Research, Inc. The growing interest of Small and Medium-sized Enterprises (SMEs), owing to the low price of cobots, is projected to increase the deployment over the forecast period. The application of cobots in industries such as automotive, furniture and equipment, metal and machining, plastic and polymers, and food and beverages is expected to drive the market growth over the projected period. The increasing focus of OEMs and consumers on safety of operations, such as gluing and welding, pick & place, and machine tending, is expected to propel cobots’ growth. Collaborative robots apply advanced technologies, which include collision detection, torques sensing, and elastic actuators, for completing tasks in an efficient manner. The material handling segment is expected to witness a significant growth over the forecast period owing to th...