Cobot Market Register Growth in Incremental Opportunity after COVID-19 pandemic
In a mobile cobot, the cobot is mounted over a mobile robot platform, which enables it to move around the factory floor autonomously. Companies such as EasyRobotics and Dimalog are integrating mobile robots and cobots to develop mobile cobots. For instance, Dimalog used Omron TM-series collaborative robots and Omron LD mobile robots as the platform for developing mobile cobot systems. Mobile cobots would be the next stage in collaborative robotics and would generate ample opportunities for cobot manufacturers and mobile robot platform developers in the future.
In the long term, the market is expected to be driven by the continuous upswing in the demand for collaborative robots, which have high payload capacity and can be used for a number of new industries such as logistics and warehouses, science and research labs, and security in a dynamic industry environment. As several industries are recognizing the benefits of collaborative robots and the robots themselves are becoming technologically fool-proof, the market is expected to continue to see positive growth and would be able to counter the short-term hurdles.
Cobots have shown good potential in the new emerging application during the COVID-19 pandemic. Cobots are being used for COVID-19 testing and disinfecting purposes. Researchers at the University of Southern Denmark (SDU) developed a system for collecting the patient’s sample for the COVID-19 test. The system has Universal Robot’s UR3 cobot arms and a custom 3D-printed end-effector for taking a throat swab sample. Furthermore, researchers at Nanyang Technological University developed an automated disinfection system in which a cobot is mounted on a mobile platform fitted with an electrostatic spray nozzle for spraying the sanitizer.
The competitive benchmarking chart, provided as follows, is based on the positioning of the leading companies in the market based on two parameters, namely depth in product portfolio and business strategy excellence. The depth in product portfolio consists of factors such as cobot offerings according to different payload, software and applications related to cobot, and product and upgradation in the last three years. Business strategy excellence consists of factors such as geographical presence, inorganic growth strategies (mergers and acquisitions and partnerships and collaborations), and funding and research and development activities.
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Porter‘s Five Forces analysis has been undertaken to determine the competitive intensity and attractiveness of the collaborative robot market. Each of the five forces is analyzed against some of the key criteria influencing the impact of that force. Each of the criteria is assigned a risk rating depending upon its impact on the force (sample). In the Five Forces model, manufacturers developing collaborative robots are considered suppliers, whereas government, commercial, and residential end users are considered buyers. The bargaining power of suppliers and buyers, threat of substitutes, threat of new entrants, and intensity of rivalry within the industry shape the competitive structure.
Collaborative robots have opened up a new dimension of automation across multiple industries. Unlike heavy industrial robots, collaborative robots share workspace with humans, augmenting their capabilities and capacities. The technology proves to be a boon, especially to the small and medium enterprises (SMEs), as it helps them to scale up easily with less manpower.
