Global Collaborative Robots Market is Expected to Witness Positive Growth With New Entrant SMEs and Lucrative CAGR of 51.02% by 2025:
Collaborative Robot is considered as result of enormous effort in 1990s by General Motors led initiative. Initially, cobot was known as Intelligent Assist Device (IAD) when it was perceived in the context of industrial material handling and automated assembly operations. In first decade of 21stcentury, Germany based organization known as industrial robot pioneer KUKA launched first cobot LBR 3. Later with more players entering markets, FANUC launched its first cobot with a heavy 35kg payload. Since then many other companies gave entered the Collaborative Robot Market and have become integral part of it.
Collaborative Robots Market is primarily driven by factors such as increasing demand for products from various industries such as automotive, machining and metal processing as well. Safety concerns, familiarity with use of traditional robotic systems and anxiety associated with anticipated economic slowdowns in nations considered as global giants in world may result as hinderance in growth of market. However, technological advancements and development of safety feature may result as solution over this.
Now, when world is witnessing mind boggling furtherance in technology and inventions, Collaborative Robots are assisting human race with efficiency and error free performance within controlled environment. Cobot will save you from unending routine chaos at workplace accompanied with increasing responsibilities which will lead to individuals concentrating on intricacies which really matter a lot than haphazard tasks. With such optimistic environment within business world, new SMEs getting attracted towards industry due to low cost and high ROI, mergers & acquisitions, alliances within key manufacturers and dynamic growth drivers, Collaborative Robots Market may arise as sensation over next few years of this century.