DUBLIN--(BUSINESS WIRE)--The "Collaborative Robotic Joint Module Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2023 to 2031" report has been added to ResearchAndMarkets.com's offering.
The collaborative robotic joint module market is expected to grow at a CAGR of 6.5% during the forecast period of 2023 to 2031
This study report represents analysis of each segment from 2021 to 2031 considering 2022 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2031.
Increasing demand for collaborative robots (cobots) in various industries such as manufacturing, logistics, and healthcare. Collaborative robotic joint modules are key components of cobots, enabling them to perform complex tasks in collaboration with human workers. The market for collaborative robotic joint modules is driven by several factors, including the growing need for automation and increased focus on workplace safety.
Cobots are designed to work safely alongside humans, without the need for physical barriers, which makes them suitable for a wide range of applications. This has led to the adoption of cobots in industries where human-robot collaboration is crucial, such as assembly lines, material handling, and precision tasks.
Furthermore, advancements in sensor technology, artificial intelligence, and machine learning have enabled collaborative robotic joint modules to become more sophisticated and capable of performing tasks with high precision and flexibility. This has expanded their applications across various industries, leading to increased market demand. The market for collaborative robotic joint modules is highly competitive, with several key players operating in the market.
These companies are constantly investing in research and development to enhance the performance and capabilities of collaborative robotic joint modules, as well as to expand their product portfolios. They are also focusing on strategic partnerships, collaborations, and acquisitions to strengthen their market position and gain a competitive edge.
Increasing Adoption of Cobots in Various Industries
The collaborative robotic joint module market is being driven by the increasing adoption of cobots in various industries, such as manufacturing, logistics, and healthcare. Cobots are designed to work alongside human workers, enhancing productivity and efficiency in various tasks.
This adoption is supported by the need for automation to improve operational efficiency and reduce labor costs. For example, in the manufacturing industry, cobots are used for tasks such as assembly, welding, and quality inspection, as they can work alongside human workers to perform repetitive and mundane tasks with precision and speed.
In the logistics industry, cobots are used for tasks such as order picking, packing, and palletizing, as they can work collaboratively with human workers to optimize warehouse operations. In the healthcare industry, cobots are used for tasks such as patient care assistance and medication delivery, as they can work safely alongside healthcare professionals to improve patient care.
Advancements in Sensor Technology and Artificial Intelligence
Advancements in sensor technology and artificial intelligence have significantly contributed to the growth of the collaborative robotic joint module market. Sensor technologies such as vision sensors, force/torque sensors, and tactile sensors enable cobots to perceive their environment and interact safely with humans.
Artificial intelligence and machine learning algorithms enable cobots to learn and adapt to changing conditions, making them more flexible and capable of complex tasks. For instance, advanced vision sensors enable cobots to accurately identify and locate objects in their environment, allowing them to perform tasks such as object recognition, tracking, and picking.
Force/torque sensors enable cobots to detect and respond to external forces, allowing them to safely interact with humans and handle delicate objects. Tactile sensors enable cobots to have a sense of touch, enabling them to perform tasks that require fine motor skills and delicate handling. These advancements in sensor technology and artificial intelligence have expanded the capabilities of collaborative robotic joint modules and increased their adoption in various industries.
Focus on Workplace Safety and Ergonomics
Workplace safety and ergonomics are significant drivers for the collaborative robotic joint module market. Cobots are designed to work safely alongside humans, without the need for physical barriers or cages, which improves workplace safety and reduces the risk of accidents.
Shell Joint Modules Expected to be the Most Lucrative Market During the Forecast Period
The type segment of the collaborative robotic joint module market can be further categorized into two types: Shell Joint Modules and Shell-less Joint Modules. Among these, Shell Joint Modules are anticipated to exhibit the highest CAGR and generate the highest revenue in the forecast period.
Shell joint modules are designed with an outer protective covering, also known as a shell, which provides additional safety features for human-robot collaboration. These joint modules are widely used in collaborative robotic applications where physical interaction with humans is required, such as in cobots used for assembly, packaging, and inspection tasks. The shell provides a protective barrier that prevents any accidental contact between the robot and human workers, ensuring safe and reliable operation in collaborative environments.
Market Competition to Intensify During the Forecast Period
The Collaborative Robotic Joint Module market is witnessing intense competition among key players, with a focus on innovative solutions and strategic partnerships to gain a competitive edge. These companies are actively engaged in research and development activities to develop advanced collaborative robotic joint modules with improved functionalities, increased payload capacities, and enhanced safety features.
Additionally, they are also investing in artificial intelligence (AI), machine learning, and sensor technologies to enable their robotic joint modules to adapt to dynamic environments and interact with humans more intuitively. In terms of strategies, these key players are focusing on partnerships, collaborations, and acquisitions to expand their product portfolios, reach new markets, and strengthen their market position.
The collaborative robotic joint module market is highly competitive with key players focusing on innovative solutions, strategic partnerships, mergers and acquisitions, and geographic expansion to gain a competitive edge. Continuous research and development, along with a strong focus on customer requirements, are driving the growth of the market, and the competitive landscape is expected to remain dynamic as new players enter the market with advanced technologies and solutions.
Key questions answered in this report
- What are the key micro and macro environmental factors that are impacting the growth of Collaborative Robotic Joint Module market?
- What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
- Estimated forecast and market projections up to 2031.
- Which segment accounts for the fastest CAGR during the forecast period?
- Which market segment holds a larger market share and why?
- Are low and middle-income economies investing in the Collaborative Robotic Joint Module market?
- Which is the largest regional market for Collaborative Robotic Joint Module market?
- What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
- Which are the key trends driving Collaborative Robotic Joint Module market growth?
- Who are the key competitors and what are their key strategies to enhance their market presence in the Collaborative Robotic Joint Module market worldwide?
Companies Mentioned
- Universal Robots A/S
- FANUC Corporation
- ABB Ltd.
- KUKA AG
- Yaskawa Electric Corporation
- Rethink Robotics
- Kawasaki Heavy Industries Ltd.
- Techman Robot Inc.
- FrankaEmika GmbH
- Nachi-Fujikoshi Corporation
Market Segmentation
Type
- Shell Joint Module
- Shell-less Joint Module
Application
- Automotive
- IT
- Metal Processing
- Chemical
- Food & Beverage
- Others
For more information about this report visit https://www.researchandmarkets.com/r/6m3j1b
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