Mobile Cobots Market Poised for Rapid Growth: Projected to Reach USD 8 Billion by 2030

Mobile Cobots Market Poised for Rapid Growth: Projected to Reach USD 8 Billion by 2030

 

According to Next Move Strategy Consulting, the global Mobile Cobots Market, is set for remarkable growth, expected to reach USD 8 Billion by 2030, with a compound annual growth rate (CAGR) of 31% by 2030. This rapid expansion is driven by the increasing demand for automation solutions in various industries and the rising adoption of mobile collaborative robots (cobots) across sectors such as manufacturing, healthcare, and logistics.

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Market Overview

Mobile cobots, also known as mobile manipulators, combine autonomous mobile robots with collaborative robots. These intelligent, portable robots help humans in shared workspaces by performing tasks traditionally requiring both hands and feet. While collaborative robots replace human arms and hands, mobile robots function as human legs and feet, enabling mobility. Mobile cobots allow for flexibility in operations and the automation of tasks such as assembly, material handling, and inspection in industries with limited space where traditional industrial robots might not be feasible.

Equipped with cameras, lasers, and sensors, mobile cobots ensure safe operations around humans and objects, making them a versatile and secure solution for various work environments.

Market Growth Driven by Rising Automation Needs

The increasing complexity of production processes, labor shortages, high labor costs, and the demand for higher productivity are fueling the growth of mobile cobots. Industries such as manufacturing, electronics, and healthcare are increasingly integrating automation solutions to improve efficiency. Notably, mobile cobots are becoming vital in the healthcare sector, facilitating e-prescriptions, mobile consulting, and managing electronic medical records.

Mobile cobots are particularly useful in factory and warehouse settings for tasks like bin-picking, assembly, and material handling. Their ability to autonomously transport goods and transition between tasks with minimal human intervention has made them indispensable tools in industries like food and beverage, pharmaceuticals, and electronics.

Challenges and Barriers to Growth

Despite the positive market outlook, high setup costs and a shortage of skilled workforce are significant challenges hindering the growth of the mobile cobot market. The cost of acquiring, integrating, and maintaining cobots is a barrier for small to mid-sized enterprises. Additionally, a lack of expertise in deploying and maintaining robotic systems in developing regions further restricts market growth.

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Industry 5.0 Paves the Way for New Opportunities

The advent of Industry 5.0, which focuses on collaboration between humans and machines, presents promising opportunities for mobile cobots. With Industry 5.0 emphasizing productivity through human-robot cooperation, new cobots are being developed with advanced safety features, greater payload capacities, and improved flexibility. This shift is expected to open new applications in areas such as packaging, machine tending, and material handling, providing significant growth opportunities for mobile cobot manufacturers.

Regional Insights: Asia-Pacific Leads the Market

The Asia-Pacific region holds the largest share of the mobile cobots market and is expected to maintain its dominance throughout the forecast period. High demand for consumer goods, particularly in densely populated countries like China, India, and Japan, has driven the adoption of mobile cobots to improve manufacturing efficiency. Moreover, labor shortages in countries such as China, Malaysia, and Singapore have accelerated the need for automation solutions.

Leading robotic manufacturers such as Fanuc, Yaskawa Electric Corporation, and Kawasaki Robotics are contributing to market growth in the region by offering advanced mobile cobot solutions. Recent product launches, such as the CRX series by Fanuc and new collaborative robots by Yaskawa, are fueling innovation in the market.

Competitive Landscape

The mobile cobot market is highly competitive, with several major players vying for market share. Companies like Universal Robots, Fanuc Corporation, Yaskawa Electric Corporation, and Kuka AG are leveraging product innovations, strategic partnerships, and geographical expansion to solidify their presence. For instance, in 2022, Fanuc launched new models in its CRX line to cater to small and large manufacturers, addressing the rising demand for collaborative robotics.

In addition, partnerships like the one between Fetch Robotics and Lucas Systems aim to optimize warehouse operations by enhancing collaboration between humans and robots. These developments highlight the industry's commitment to advancing mobile cobot technologies.

Conclusion

The mobile cobots market is set for substantial growth, driven by rising automation needs, the increasing adoption of mobile collaborative robots in industries like manufacturing and healthcare, and technological advancements in robotics. While challenges such as high costs and a lack of skilled labor remain, the emergence of Industry 5.0 and regional dominance, particularly in Asia-Pacific, provide strong growth prospects. Key players in the market continue to innovate, creating new opportunities and applications for mobile cobots in diverse sectors.

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