15 February 2021 | News
Strong growth for cobot projected from 2020 to 2026 with Asia expected to surpass Europe by 2021
Photo Credit: Universal Robots
In a report by the World Robotics 2020 Industrial Report, it shows a record of 2.7 million industrial robots operating in factories globally, with 373,000 units shipped in 2019. In fact, Singapore has the highest density of industrial robots with 918 industrial robots used per 10,000 employees. Singapore, and other Asian countries, including Republic of Korea, Japan and Taiwan have widely adopted cobots in the manufacturing and service sectors.
Amongst industrial robots, collaborative robots (cobots) continues to be fastest growing segment of industrial automation, projected to grow at a Compound Annual Growth Rate (CAGR) of 41.8% globally during 2020 to 2026, in a report by MarketsandMarkets. Asia Pacific cobot market is projected to become the largest cobot market worldwide, growing at a CAGR of 45.46 percent, with an addressable cumulative market value of $13.17 billion over the next 7 years in terms of cobot hardware.
The growth of collaborative robots is fuelled mainly by the advantages it offers, such as effective employee utilisation, higher productivity and flexibility in redeployment. One of the most significant difference between industrial robots and cobots, is the ability of cobots to interact safely with humans in a shared workspace. Manufacturing and assembly plants, especially in developed countries, are expected to adopt cobots quickly.
"With the world battling COVID-19, 2020 delivered some ingenious cobot implementations. From personal protective equipment manufacturing to swab testing, collaborative robots (cobots) are improving the efficiency, safety, and quality of countless processes. The vast majority of cobot implementations are found in electronics and automotive manufacturing and industrial environments, but cobots have the flexibility to be used in a wide variety of sectors from agriculture and medical to pharma," said James McKew, Regional Director of Asia-Pacific in Universal Robots.
“The pandemic is accelerating interest in cobots as it enables safe distancing in manufacturing and assembly plants to minimise the potential spread of infections, while fully engaging workers productively and efficiently,” he added.