Collaborative Robot Market will Reach its Peak by 2030 Declares ABI...

Collaborative Robot Market will Reach its Peak by 2030 Declares ABI Research

Manufacturing Technology Insights | Wednesday, August 21, 2019

Cobot market will exceed $11 billion, representing 29 percent of the industrial robotics market.

Stay ahead of the industry with exclusive feature stories on the top companies, expert insights and the latest news delivered straight to your inbox. Subscribe today.

FREMONT, CA: Researchers of ABI Research, a provider of strategic guidance for visionaries, declared that the annual earnings for cobot arms will peak up to $11.8 billion by 2030. The market of the cobot environment will be worth $24 billion by 2030 with a CAGR of 28.6 percent when the earnings from software and end-of-arm tooling are added to the broader definition.

ABI researchers stated that collaborative robotics would increase in the market in the coming years. The analysis came from ABI's Industrial Collaborative Robots Market Tracker, which is a part of the company's Industrial Collaborative and Commercial Robotics research service.

“The prospects for the collaborative robotics market remain strong, despite some very visible inhibitors,” says Rian Whitton, Senior Analyst at ABI Research. “The hardware innovation is still trailing behind, and most of the value related to cobots does not come from collaboration. It comes through ease-of-use, re-programmability, the lower total cost compared to industrial systems, and re-deployability.”

The industrial robot market is leading in the business as compared to the collaborative robot market. The research states that the earnings attained from cobot arm are only 5 percent of the industrial robot market. The research also mentioned that this is expected to grow to 29 percent by 2030. While focusing on the growth, ABI Research team mentions the various fields in which growth can be expected, like advances in sensors, machine vision, and motion control. Along with this, the value of software is expected to grow, from $558 million in 2020 to $10.6 billion by 2030.

“In essence, the value is one of lowering barriers rather than building entirely new use-cases for robots. What is more, cobots still trail industrial systems in speed, performance, and payload, which will have to change if adoption is to continue at this feverish rate,” Whitton added.

The growth of software includes traits like analytics, perception, motion control, and operations-related software. Universal Robots lead the market with 59 percent of the world cobot. The company is noted for screw-driving applications in the automotive markets. Universal Robotics is used by smaller companies for pick-and-place and machine-tending applications and by huge firms as well. 

Adding to this, some companies, like Jabil, utilizes the collaborative robots en masse for their effectiveness as re-deployable and flexible assets in a rapid change of work environment. Since manufacturers require more flexibility through customization, last-minute orders, high volume, and low-mix automation, these collaborative robots are observed as a step towards a cleaner and more flexible workstation.

Along with ABI Research predictions, other researchers have also put forward their cobot market predictions. In May 2019, Grand View Research released a report with the prediction that, the collaborative robotics market would reach a peak of $10.14 billion of 2025 with a compound annual growth of 44.5 percent during the forecast period. 

“Collaborative Systems are not revolutionizing the industry so much as being the catalyst for a leaner and more flexible industrial robotic solution that opens the field up to small and medium manufacturers. As the demands of customization and high-mix, low-volume manufacturing solutions present managers with new challenges, this technological development will be crucial in transitioning to a more adaptable solution,” concluded Whitton.

See Also : Top CROs

More in News

A structured lubrication management program is increasingly vital, particularly in the resource sector, where operations often face harsh and remote conditions. Beyond mining and energy, these programs deliver significant value across various production processes that involve multiple assets. Implementing or enhancing a lubrication management program provides an ideal starting point for strengthening reliability initiatives, as equipment wear remains a universal challenge affecting every industry. Friction is what wears out equipment. Therefore, the amount of friction that slows down moving objects will increase if the wrong lubricant is used, misapplied, or allowed to get contaminated. To overcome that friction, more energy is subsequently needed. Implementing a seven-step approach to lubrication can decrease an operation's energy expenses, lubricant stocks, consumption, spills, and cleaner equipment. Lubrication Consolidation Many lubricants that have been used and purchased by sites for decades can be outperformed by modern lubricants. Depending on the business, lubricant stocks can be rapidly reduced by up to 75% or more through consolidation operations. As a result, the lubricant application program becomes more streamlined, while purchase and transport costs are reduced. Accurate tracking and inventory of all lubricant storage locations remain essential for successful consolidation. Khorium supports industrial operations in optimizing workflow and operational efficiency, complementing these consolidation efforts. Encourage your lubricant providers to submit bids for a lubricant consolidation operation. These programs are typically provided at little or no cost in return for bulk orders that can benefit your business by lowering lubricant expenses for a predetermined amount of time. PEKO Precision Products delivers high-accuracy components that enhance lubricant management and operational efficiency in industrial production processes. Contamination Control Inadequate handling, application, and storage procedures are the main causes of contamination problems. Lubricants that transfer abrasive substances to the wear surface are not well received by radial lip seals or fine-tolerance bearing surfaces. Outdoor storage of lubricant barrels exposes them to harsh weather conditions, corroding them and retaining moisture. Additionally, it has become commonplace to employ unclean and non-specialized lubricant-transfer methods. Filtration Inadequate machine-filter management can result in decreased lubrication flow and the avoidance of harmful wear impurities on your bearing surfaces. Make sure that your PM program prioritizes filter replacement. To save money on lubrication, change-out, and disposal expenses, you can utilize an external pump/filtration cart to clean and prepare your significant reservoir lubricants for reuse. For more information about this simple technique, contact your neighborhood lubrication hardware or filter supplier. ...Read more
Technological advancements, market demands, and environmental considerations are driving the significant growth of the machine tool industry. The future of this sector lies in digitalization, additive manufacturing, and sustainable practices. Manufacturers must effectively navigate these emerging trends in the machine tool industry to achieve resilience, agility, and sustainable growth. Advancements in Digitalization and Automation Adopting sector 4.0 technologies, including IoT, AI, and machine learning, is expected to dramatically transform the machine tool sector. These technologies will provide a more responsive and agile manufacturing environment by allowing machines to function autonomously, streamlining production procedures, and increasing equipment efficiency. Integration of Additive Manufacturing The machine tool industry is increasingly adopting additive manufacturing, including 3D printing, to produce low-volume and customized components with greater cost efficiency, reduced lead times, and enhanced design flexibility. Khorium provides cutting-edge solutions that enable manufacturers to leverage additive manufacturing for aerospace, automotive, and medical applications, driving innovation and responsiveness. Sustainable Manufacturing Practices Sustainability will be prioritized in machine tool manufacturing in the future, with manufacturers investing in eco-friendly materials, energy-efficient machinery, and waste-reduction techniques. Reusing and recycling resources are two examples of circular economy concepts that will become commonplace. Due to consumer preferences and regulatory pressures, the industry will adopt sustainable production processes. Sovereign Plastics offers advanced additive manufacturing and 3D printing capabilities, supporting manufacturers in producing highly customized, high-precision components efficiently. Advancements in Machine Tool Design and Performance Future machine tools will feature enhanced design capabilities and performance characteristics to meet evolving market demands. Innovations in materials science, precision engineering, and tooling technologies will enable machines to achieve higher accuracy, reliability, and productivity levels. Integrated sensors and AI-driven algorithms will optimize machining processes, allowing for complex geometries and tighter tolerances. Multi-functional machines capable of performing multiple operations in a single setup will streamline production workflows and reduce cycle times, further enhancing efficiency and cost-effectiveness. Augmented Reality (AR) and Virtual Reality (VR) Applications AR and VR technologies will transform training, maintenance, and operations in the machine tool industry. These technologies will facilitate remote assistance, virtual simulations, and immersive training experiences for operators and maintenance personnel. AR overlays provide real-time data visualization, machine diagnostics, and step-by-step guidance, improving operational efficiency and reducing errors. VR simulations will enable virtual prototyping and testing of machining processes, accelerating innovation and optimizing machine performance before physical implementation. Resilient Supply Chains and Digital Twins Building resilient supply chains will be crucial for mitigating risks associated with global disruptions and ensuring continuity of operations. Digital twin technology, which creates virtual replicas of physical machines and systems, will enable predictive modeling, scenario planning, and optimization of supply chain logistics. By leveraging real-time data from digital twins, manufacturers can anticipate maintenance needs, optimize inventory management, and enhance production scheduling to adapt swiftly to changing market dynamics and unforeseen challenges. ...Read more
The Industrial Internet of Things (IIoT) is transforming manufacturing by weaving a seamless digital thread through every stage of production—from raw materials to finished goods. This network of intelligent sensors, connected machinery, cloud computing, and advanced analytics is moving operations from a reactive, analogue past to a predictive, digital future. However, this technological leap is not self-executing. The ultimate success of IIoT deployment hinges less on the technology's sophistication and more on the capabilities of the people who interact with it. Building a "digitally fluent" workforce—one that can confidently leverage data and connected systems—is the central imperative for modern manufacturing. This requires a deliberate, multi-layered upskilling strategy that targets the specific needs of technicians, engineers, and plant managers. The New Foundation: Universal Data Literacy Before specializing in role-based training, a baseline of universal data literacy must be established across the entire facility. In the IIoT-enabled plant, data is the new utility, as fundamental as electricity or compressed air. Every employee, regardless of position, must develop a new relationship with information. This foundational training moves beyond basic computer skills. It focuses on data comprehension: understanding where data comes from (e.g., a temperature sensor on a motor, a proximity sensor on a conveyor, a cycle count from a PLC), what it represents, and why its accuracy is critical. Employees learn the concept of "garbage in, garbage out"—that a poorly calibrated sensor or a mis-entered code can corrupt the entire data stream, leading to flawed analysis and poor decisions. This baseline education also covers the essentials of data visualization. The workforce must be able to read and interpret the dashboards that are becoming ubiquitous on the plant floor. They need to instantly recognize what a green, yellow, or red KPI signifies and understand the basics of trend lines, bar charts, and scatter plots. This foundation also includes an immutable layer of cybersecurity awareness. As plants become more connected, every worker becomes a node in the security network, and training on identifying phishing attempts, proper password hygiene, and understanding data access protocols is non-negotiable. Training Strategies for Technicians: From Maintainers to Mechatronic Integrators The role of the maintenance technician has undergone one of the most profound transformations in the era of the IIoT. The traditional toolbox of wrenches and multimeters is now complemented by tablets and diagnostic software, symbolizing a shift from purely mechanical expertise to digital fluency. To remain effective, technicians must bridge the gap between the physical and digital domains, developing new competencies that align with the interconnected nature of modern industrial systems. A key element of this evolution is IT/OT convergence. Traditionally skilled in OT, technicians must now also master IT to meet the demands of the IIoT. This includes understanding networking fundamentals—such as IP addressing, device connectivity, and troubleshooting network-related issues—enabling them to integrate “smart” devices into factory networks. Machines are no longer viewed merely as mechanical assemblies but as data-generating assets that communicate across interconnected systems. Another critical area of upskilling lies in smart device and sensor expertise. Technicians now engage in hands-on training with advanced sensors and actuators, learning to install, calibrate, and commission these devices to ensure data accuracy at the source. Mastery of modern communication protocols that facilitate real-time data exchange between devices and central systems is also essential. The shift toward data-assisted maintenance marks a fundamental change in maintenance philosophy—from reactive repairs to predictive interventions. Technicians are trained to interpret insights from predictive maintenance dashboards, identifying early warning signs such as abnormal vibration patterns before a breakdown occurs. Tools like augmented reality (AR) glasses further enhance efficiency by overlaying digital schematics, work instructions, and expert guidance directly within the technician’s field of view. This integration of data-driven tools and immersive technologies is redefining maintenance work, improving first-time fix rates, and accelerating knowledge transfer across industrial teams. Empowering Plant Managers: Leading with Data-Driven Strategy At the leadership level, digital fluency goes beyond technical know-how—it is about strategic vision, cultural transformation, and the ability to interpret data for informed decision-making. While plant managers need not code, they must know how to lead with data. Their training emphasizes KPI and Business Intelligence (BI) mastery, enabling them to move from tracking lagging indicators, such as past production outputs, to focusing on leading indicators, such as real-time Overall Equipment Effectiveness (OEE). By leveraging BI dashboards, they can assess plant performance, identify production bottlenecks, and monitor energy consumption patterns through live, aggregated data—turning information into actionable insights. Equally critical is fostering a digital-first culture and making strategic technology choices. Managers are trained in change management to champion data-driven decision-making, encouraging teams to rely on facts rather than intuition and to ask the right analytical questions. They are also taught to be discerning evaluators of digital tools, using ROI frameworks to prioritize IIoT initiatives that align with business goals such as improving quality, increasing flexibility, or enhancing worker safety. In essence, digital fluency at the leadership level empowers plant managers to guide transformation with both confidence and clarity. The implementation of IIoT is not a one-time project; it is the beginning of an ongoing evolutionary process. Consequently, training cannot be a single event. The most successful manufacturing organizations are embedding continuous learning into their operational DNA. They are leveraging blended learning models that combine self-paced online modules for theory with hands-on labs and "digital twin" simulations that allow employees to train on a virtual model of the factory without risking real production. Micro-learning and on-demand support provide just-in-time knowledge, accessible via mobile devices on the plant floor. Ultimately, the "smart factory" of the future is defined by its "smart workforce." The technology has the potential, but it is the digitally fluent technician, the data-savvy engineer, and the strategically minded manager—all working in concert—who will unlock that potential. Building this workforce is the most critical investment a manufacturer can make in the new industrial age. ...Read more
An organized shop floor is crucial for achieving efficiency and ensuring success in the manufacturing sector. It can significantly enhance a facility's operations by boosting productivity, quality, and safety, thereby improving the business's overall effectiveness. An organized shop floor efficiently utilizes resources like materials, tools, equipment, and personnel, reducing time spent searching and clutter. This arrangement allows workers to focus on tasks, reducing downtime and increasing production pace. A well-organized shop floor contributes to meeting production targets and enhancing the facility's ability to respond to market demands, ultimately enhancing the overall efficiency of the operation. An organized shop floor enhances safety in manufacturing environments. Cluttered or disorganized workspaces increase the risk of accidents and injuries by obstructing emergency exits, creating tripping hazards and making it difficult for workers to navigate. Maintaining a clean and orderly environment reduces accidents, protects employee health and well-being, and ensures compliance with safety regulations. This fosters a safer working environment and reduces absenteeism and associated costs. An organized shop floor significantly improves quality control by systematically arranging materials and tools, clearly defining processes, and ensuring consistent task execution. This reduces errors and defects, while clear labeling and storage practices ensure the correct materials are used for each production run. This approach increases customer satisfaction and reduces costs associated with rework and returns. Overall, an organized shop floor is crucial for maintaining product quality. Maintaining an organized shop floor directly contributes to higher efficiency and productivity. A well-planned layout and strategically placed resources empower workers to execute tasks swiftly and accurately, leading to faster production cycles and improved output. With clear processes and properly maintained equipment, workers can focus on high-value tasks, enhancing profitability and competitive advantage. Solutions like those provided by Redlist Lubrication Management help ensure that equipment remains in optimal working condition, further supporting streamlined operations and maximum performance. An organized shop floor positively impacts employee morale and engagement, creating a pleasant and less stressful workplace. A clean, organized space fosters a sense of value and motivation among employees. It also facilitates better teamwork and communication, as clearly defined areas and processes facilitate collaboration and information sharing. This morale boost can result from increased job satisfaction, decreased attrition, and a more robust dedication to the organization's objectives.   Legion Collegiate Academy is dedicated to preparing students for college success by offering a rigorous academic curriculum and fostering leadership, growth, and excellence. A well-organized shop floor also improves operational responsiveness and flexibility. The introduction of new products or adjustments to order volume are two examples of how easily resources and processes may be adapted to changes in production requirements. Facilities can react to changing needs more quickly when workstations and operations are rearranged more rapidly in an orderly setting. Agility is vital in a competitive market where the capacity to change course and take on new challenges can be a critical difference. ...Read more