Tractica says cobot market to reach $9.7 billion by 2025

Nov 24, 2019

According to a new report from Tractica, as the implementation of smart factories surges forward, more companies are becoming aware of the importance of and uses for collaborative robots.

Even with potential barriers such as high potential costs and significant planning, deployment and training time, Tractica forecasts that the global cobot market will continue growing rapidly over the next few years, reaching revenue of $9.7 billion by 2025.

"New opportunities are opening in the market as makers develop cobots with higher payload capacities and speed," said senior analyst Glenn Sanders. "The integration of cobots with the industrial Internet of Things (IIoT) opens new possibilities for the coordination of cobots doing smart manufacturing with the rest of the automation processes. Humanlike abilities of perception, object recognition, gripping and manipulating objects, and dual grippers present the potential to drive greater demand in the coming years."

Tractica’s report examines the market issues surrounding cobots and presents 8-year revenue forecasts for the industry. The report discusses the crucial market drivers, challenges and industry applications, in addition to assessing the most important technology issues that will influence market development. Tractica profiles the top 17 industry players, organized by pure cobot vendors, industrial robot vendors, end-of-arm tooling vendors and software framework providers. An information bank of 82 key and emerging companies is also included in this report. Market forecasts, segmented by industry, payload capacity, and application, extend through 2025.