U.S. Collaborative Robots Market is expected to witness large growth and revenue shares owing to the rapid adoption of the automation and robotics technology. Presence of major manufacturers of these systems and increasing investment power of companies to implement these systems in their environment, drive the market growth. Furthermore, the region also accounts for high labor cost and unavailability of efficient laborers for performing complex operations. India, China, and Japan in the Asia Pacific region is witnessing a high demand for these machines in the recent years. The market growth in China is due to the presence of a large number of manufacturing companies such as consumer electronics and e-commerce companies, which implement these systems in a number of tasks such as assembly, transportation, sorting, and packaging of products.
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Major Players in the collaborative robots market include ABB Ltd., KUKA AG., Robert Bosch GmbH, Fanuc Corporation, Rethink Robotics, Omron, and Universal Robots. Several players are adopting new product developments and innovations, mergers and acquisitions, collaborations, and partnerships to sustain a high industry competition and provide advanced technologies to consumers. For instance, in February 2018, Fanuc Corporation announced the acquisition of Life Robotics, a manufacturing company specializing in these systems. This acquisition strengthens the growth in the collaborative robots industry by implementing ‘elbow-less’ systems of Life Robotics that consumes less space.
The technologies are highly susceptible to cyber and physical security threats. Malfunctioning and power surges can lead to injuries and loss of human life. However, these problems can be overcome while manufacturing by implementing efficient security systems that limit the force and power of clamps to prepare for the worst-case scenarios, increasing market share. Hand guiding these robots while performing complex operations on floors is an issue hindering the market growth. The systems move on commands received from controller units, which are sometimes missed, resulting in incorrect operations and damages to the products. These systems require regular technical upgrades, mandating companies to expend large financial funds and negatively impacting the collaborative robots market demand. SMEs and start-ups most often have limited funds and cannot afford timely system upgrades and repairs.
A major trend in the collaborative robots market is the implementation of these systems as human co-workers. The collaboration of human and machines aids in the easier performance of critical operations, simplification of program integration, and standardization in mechanical and electrical operations. By implementing simple interfaces, the technology allows low-skilled personnel to perform tasks such as vehicle painting, placing of components, and packing without having in-depth knowledge and training in machine operations.
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Collaborative Robots Market is driven by the increasing demand for robotics and automation technology in several industry verticals such as e-commerce, retail, and manufacturing sectors. Companies are increasingly implementing automated technologies as a replacement for human labor as they are affordable, easily trainable, and flexible as compared to humans, driving the collaborative robot market. The prices of sensors are declining continuously due to the high penetration of sensor manufacturers and their varied uses ranging from high-end to low-end applications, cutting down the total cost of manufacturing these technologies. The ease of training and the deployment of these systems as compared to traditional and bulky equipment is fueling the market growth.
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