Mar 7, 2017

Global Cobots Market Growth at CAGR of 85.08%,2016-2021 with ABB, Bionic Robotics, Blue Ocean Robotics and Omron Adept Technologies Dominating the $3.81 Billion Market - Research and Markets March 07, 2017 10:05 AM Eastern Standard Time DUBLIN--( BUSINESS WIRE )--Research and Markets has announced the addition of the "Cobots Market - Forecasts from 2016 to 2021" report to their offering. Global Cobots Market is projected to grow from US$175.500 million in 2016 to US$3,811.483 million by 2021, at a high CAGR of 85.08% over the forecast period. Cobots is a short form for collaborative robots which are designed to aid human beings for specific tasks, which are highly complex in nature and require high precision. These robots work in a close association with humans. The robots can observe any unusual activity in their surroundings and can cooperate with humans without physical separation. Smaller, smarter, flexibility and user-friendly are some attributes which make cobots more attractive than industrial robots. Increasing competition in the industrial manufacturing sector is driving the demand for Cobots. Moreover, facilitation of automation, reduction of barriers in manufacturing, an introduction of advanced robotic technologies and their attributes such as user friendliness and safety are some of the factors driving the global cobots market. The major market restraint is the high initial investment in the solutions and rigorous training program for the employees to interact with these robots which require significant time and capital expenditure and leads to lesser adoption by the enterprises. Americas and APAC region will drive the global market for collaborative robots over forecasted period due to increase in manufacturing activity and a surge in demand for these robotic solutions by the enterprises operating in the regions. Americas and APAC region will drive the global market for collaborative robots over forecasted period due to increase in manufacturing activity and a surge in demand for these robotic solutions by the enterprises operating in the regions. Key industry players profiled as part of this section are ABB, Bionic Robotics, Blue Ocean Robotics and Omron Adept Technologies, Inc among others. Segmentation