New Delhi, June 24, 2022 (GLOBE NEWSWIRE) — The global collaborative robots market’s growth is attributable to the high adoption rate of collaborative robots for varied applications in the manufacturing sector as they provide high returns on investment, increasing need for automation, increment in funding for research and development…
A recent study by the strategic consulting and market research firm; BlueWeave Consulting revealed that the global collaborative robots market was worth USD 762.0 million in 2021 and is anticipated to reach USD 3,998.1 million by 2028 at a CAGR of 26.9%. This can be attributed to the growing affordability, easier use, and less complexity of the collaborative robots for training purposes. Eight out of ten workplaces claim that they are likely to increase their deployment of collaborative robots over the next decade, with the pandemic acting as a catalyst for accelerating their investment in automation. For instance, ABB recently announced an expansion of its collaborative robot (cobot) portfolio with the new GoFa and SWIFTI cobot families, which offer higher speeds and payloads, to complement YuMi and Single Arm YuMi in ABB’s cobot line. These faster, stronger, and more capable cobots are likely to be adopted across various sectors such as electronics, healthcare, logistics and food and beverage, and consumer goods, satisfying the growing demand for automation across numerous industries.
Collaborative robots enable SMEs and…
