Collaborative robots market is expected to grow during the forecast period. The rising need for collaborative robots in automation industry is acting as a driver for this market and is expected to serve as a market opportunity for future growth.

According to a new report from Transparency Market Research (TMR), collaborative robots are gaining widespread acceptance in the industrial sector, which is likely to ensure steady growth of the global market for collaborative robots in the coming years. The report examines the historical trajectory exhibited by the global collaborative robots market up to 2015 and presents a detailed breakdown of the markets figures in 2015. The granular analysis of the markets latest figures provides the perfect platform for reliable projections regarding the global collaborative robots markets growth in the 2016-2024 forecast period. The report is titled ‘Collaborative Robots Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024.

Collaborative robots, also known as cobots, are robotic systems designed to work along with human workers. This represents a significant break from conventional industrial robotic systems, which are designed to work without any human monitoring. This makes collaborative robots a more flexible and user-friendly option for industrial use, as they work primarily as an error correction mechanism for human workers.

The steady adoption of automation solutions in the global industrial sector is a prime driver for the global collaborative robots market. The rise of the consumer electronics and consumer goods industries is thus a key factor in the future development of the collaborative robots market. Rising disposable income of consumers has provided impetus to the consumer goods industry in countries such as India, China, South Korea, Taiwan, Brazil, Russia, South Africa, and Argentina, which has resulted in a steady demand for technological upgrades to ensure smooth functioning of the industrial sector. This is likely to remain a key driver for the collaborative robots market in the coming years.

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The automotive industry has also flourished in emerging regions in recent years due to the rising government support to the manufacturing sector in countries such as India and China, and is likely to remain a leading consumer of collaborative robots in the coming years. Other leading end users of collaborative robots include the food and beverage, plastics and polymers, chemicals, and metal and machining industries.

Accordingly, Asia Pacific is expected to play a vital role in the development of the collaborative robots market in the 2016-2024 forecast period. The rapid growth of the industrial sector in India and China is a key driver for the Asia Pacific market. The report also looks at the performance of the collaborative robots markets in other regional markets such as North America, Europe, Latin America, and the Middle East.

The report also examines the competitive dynamics of the global collaborative robots market by profiling leading market players such as FANUC Corporation, ABB Ltd., Robert Bosch GmbH, Universal Robots A/S, MRK-Systeme GmbH, Precise Automation, and Energid Technologies.