Global Collaborative Robot Market dynamics comprehensive analysis business growth prospects and opportunities 2026
According to global collaboration robot (Cobot) analysis by Research Dive, the global market forecast will be $8,840.5 million till 2026 , at an 41.2% CAGR, growing from $559.5 million in the year 2018. Growing investments for automation processes in the manufacturing industry to minimize the labor expenditure along with increasing trend for installation of cobots in the end use industries are key driving factors for the collaborative market growth. Moreover, the cost of cobots has also decreased due to rapid growth in new product launches, which has resulted in profit on investments along with greater performance of collaborative robot with very low precision and high accuracy; this is further anticipated to enhance the market growth. Furthe rmore, cobots are designed to ensure a safe work place environment, particularly in applications where manmade mistakes can obstruct progress. Due to advantage of cobots, there is growing demand for cobots from several industries includi