Buoyed by early innovators and adopters, the collaborative robotics market will become increasingly mainstream over the next 10 years. ABI Research recently found that the yearly revenue for cobot arms will reach US$11.8 billion by 2030, an enormous increase from US$711 million in 2019. More than that, the total value of the collaborative market is considerably more, when accounting for software-related revenues and End-of-Arm Tooling (EOAT) accessories. Under this broader definition of the market, the cobot ecosystem is worth just over US$1 billion in 2019 and will be worth US$24 billion by 2030, with a 28.6% Compound Annual Growth Rate (CAGR).
Currently, the cobot market makes up a small percentage of the industrial market. All revenue from cobot arms comprises 5% of industrial robot hardware, but that will increase to 29% by 2030. This growth is not just related to adoption, but also to the increasing convergence of the two sub-groups. Through advances in sensors, mach...
You must be a subscriber to view this ABI Insight.
To find out more about subscribing contact a representative about purchasing options.