Explosive Growth For the Collaborative Robot (Cobot) Market
A new research report by Tractica forecasts explosive Cobot market growth with an anticipated compound annual growth rate (CAGR) of 42.8%.
Cobots are experiencing a strong growth trend in conjunction with the surge in emergence of smart factories which are considered to be the outcome of the fourth industrial revolution, or industry 4.0 as it’s referred to.
The coordination of Cobots in smart manufacturing with the rest of the automation processes opens new possibilities for manufacturers. More and more companies are becoming aware of the growing importance of Cobots due to the diverse uses and benefits they bring; Increased productivity, efficiency, quality and customised on-demand production.
Though Cobots unlock a number of their own benefits for adopters, the business rationale and benefits of using industrial robots also apply to Cobots, which because of their small size and flexibility, are enabling SME’s to improve their competitiveness through automation. Tractica anticipates that much of the Cobot market growth will come from SME’s for this reason as they unlock unique benefits which were previously hard to attain; Increased safety, flexibility, ease of use and better utilisation of operators. Cobots are unlocking automation to business of all sizes as we collectively embrace industry 4.0 technology as it becomes evermore inclusive.
Tractica expect the Cobot market to grow at an increasing pace due to the improving and expanded hardware, software and frameworks that firms, such as Reeco, are able to offer. As new and commercial customers adopt Cobots to reap the benefits of the technology and remain competitive, Reeco intend to be at the forefront of the expanding product offering with our bespoke solutions to old processes. The humanlike abilities which Cobots are capable of replicating such as perception, object recognition, gripping and manipulating objects and dual grippers, present the potential to drive even greater offerings to our customers in the future.