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The Collaborative Robot Market is Increasingly Competitive, with Traditional Robot Manufacturers Playing Catch Up as New Players Enter the Market, According to Tractica

January 7, 2020 GMT

BOULDER, Colo.--(BUSINESS WIRE)--Jan 7, 2020--

The global collaborative robotics (cobot) market is experiencing a strong growth trend that is being driven by factors such as efficiency, quality, and automation of production. According to Tractica, cobots are being adopted in companies large and small, looking to assuage labor shortages and meet the demand for high mix/low volume production.

The benefits of lower costs, increased safety, greater flexibility, rapid setup, and easier training are driving factors for global cobot demand. Traditional robot makers are moving to meet this demand by adapting existing robots or developing and offering new cobots. This trend is a reaction to competition from cobot startups that established the cobot category and have begun to eat into the market share of traditional robots. According to Tractica senior analyst, Glenn Sanders, “The cobot market will be fairly crowded until it begins to mature and consolidate. The industry will see growing diversity in the coming years as startups bring their unique cobots to market to serve various applications.” Tractica expects demand to grow rapidly as more companies realize the benefits of cobots, find new uses for them, and adopt them for their processes.

Tractica’s report, “ Collaborative Robots Market Radar,” examines six leading companies in the cobot industry that should be on your radar - ABB, FANUC, Kawasaki, Rethink, Techman and Universal Robots. It discusses the crucial market drivers, challenges, and industry applications for their products and provides a heatmap that illustrates some of their relative strengths. Recommendations for vendors and end users are also included. An Executive Summary of the report is available for free download on the firm’s website.

About Tractica

Tractica, an Informa business, is a market intelligence firm that focuses on emerging technologies. Tractica’s global market research and consulting services combine qualitative and quantitative research methodologies to provide a comprehensive view of the emerging market opportunities surrounding Artificial Intelligence, Robotics, User Interface Technologies, Advanced Computing and Connected & Autonomous Vehicles. For more information, visit www.tractica.com or call +1.303.248.3000.

View source version on businesswire.com:https://www.businesswire.com/news/home/20200107005270/en/

CONTACT: Press Contact:Sherril Hanson

Telephone:+1.303.248.3338

Email:press@tractica.com

KEYWORD: UNITED STATES NORTH AMERICA COLORADO

INDUSTRY KEYWORD: TECHNOLOGY CONSUMER ELECTRONICS HARDWARE SOFTWARE OTHER TECHNOLOGY MANUFACTURING AEROSPACE AUTOMOTIVE MANUFACTURING ENGINEERING OTHER MANUFACTURING OTHER SCIENCE SCIENCE

SOURCE: Tractica

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PUB: 01/07/2020 07:20 AM/DISC: 01/07/2020 07:21 AM

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