Cobot market to reach $5.6 billion in 2027 despite slowing 2019 growth for overall industrial robot market, says Interact Analysis

Interact Analysis's latest report on cobots, Collaborative Robot Market – 2019, has found that with the further development of new application scenarios and breakthroughs in technology bottlenecks, the cobot market is projected to reach $ 5.6 billion in 2027.

The organization found that in 2019, overall industrial market revenues experienced slowing growth for the first time in many years affected by the global manufacturing downturn and reduced demand in major end industries such as automotive and electronics. However, the collaborative robot market still maintains a high growth rate of more than 30% (32.1% in revenue term and 31.3% in shipment term).

Interact Analysis have included an infographic that highlights some of its findings of in its Collaborative Robot Market – 2019 report, which provides its latest analysis on the market based on over 30 interviews and a highly detailed database.