Industrial Robotics Market: How Cobots are Transforming Automation

The global industrial robotics market is revolutionizing with a surge in automation demand across industries, stimulated by cost efficiency and advancements in technologies like AI and collaborative robotics. Cobots, or collaborative robots, stand out in industrial robotics with their unique design and functionality for human interaction in a defined workspace. According to Inkwood Research, the global industrial robotics market was valued at $xx million in 2023 and is expected to reach $xx million by 2032, growing at a CAGR of 12.4% during the forecast period 2024-2032.

Collaborative robots, distinct from traditional robots, shine in collaborative tasks with humans, offering a cost-effective solution for small and medium-sized enterprises. Versatile, easy to program, and equipped with sensors, cobots redefine automation by promoting seamless interaction, user-friendly interfaces, and enhanced workplace safety.

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Industrial Robotics Market - Inkwood Research

Real-World Applications of Cobots: From McDonald’s to Doosan Robotics

  1. Businesses like McDonald’s are capitalizing cobots in their outlets for automated operations, incorporating ATM-style cash and credit card dispensers to streamline customer transactions.
  2. Manufacturers like ONExia integrate advanced cobots, such as Universal Robots’ UR20, into palletizing equipment like the PalletizUR 2.0. With a 20 kg handling capacity and user-friendly features, it streamlines case management without programming. It utilizes a touchscreen interface with drag-and-drop functionality for tasks like conveyor control and label orientation.
  3. ABB Robotics joined forces with the University of Texas Medical Branch (UTMB) in February 2023 to address COVID challenges through the automation of neutralizing antibody tests for research and diagnostics. The robotic neutralizing antibody system speeds up detection—from 15 to over 1,000 tests per day and provides useful data for developing scalable and reliable methods to assess herd immunity against various COVID strains.
  4. Doosan Robotics, a manufacturer of collaborative robots, introduced E-SERIES in April 2023, a range of collaborative robots certified by NSF that is designed especially for the food and beverage industry.

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Industrial Robotics Market: Major Players and Ongoing R&D Innovations

Major market participants such as Kawasaki Heavy Industries Ltd, ABB Ltd, Universal Robots, and smaller companies like Techman Robot, producing cobots for small businesses, consistently partake in research and development to enhance cobot offerings in an effective and economical.

Strategic Diversity Among Market Participants:
  • ABB introduced two new variations of its GoFa collaborative robot range in June 2023, GoFa 10 and GoFa 12. These cobots are simple to program and deploy, and they can handle payloads weighing up to 10 and 12 kg with repeatability, encouraging first-time users and SMEs to automate. 
  • Xaba, in June 2023, collaborated with Lockheed Martin, a global security and aerospace company. The collaboration aimed to automate manufacturing by integrating industrial robots with Xaba’s xCognition deep artificial neural network model. Test results showed a 10X improvement in accuracy and consistency, emphasizing the substantial potential of industrial robotics to transform diverse industries.
  • Collaborative Robotics secured $30 million in Series A funding, utilizing it to scale deployments and manufacture innovative cobots. Moreover, the team introduced the Cobot Flywheel Program to aid companies in biotech, healthcare, and logistics in achieving operational transformation through advanced robotics solutions.
  • The Danish cobot maker Universal Robots unveiled the UR30 in November 2023, a new cobot with a 30 kg payload capacity. The compact UR30 boasts exceptional motion control, enabling it to handle heavy loads with precision and operate at high speeds. This versatility makes it perfect for tasks like material handling, machine tending, and high-torque screw driving.
  • At the Tokyo International Robot Exhibition (iREX) in November 2023, Techman Robot, a manufacturer of collaborative robotic arms, debuted the TM AI Cobot TM25S. The TM25S, part of the TM Robot family and TM AI Cobot S Series, incorporates a 3D camera and integrated smart vision. With an impressive 25 kg payload capacity, it excels in precision-demanding tasks such as AI-driven mixed-case depalletizing.

Stay up-to-date with what’s trending in the Global Industrial Robotics Market

The cobot market is set to advance with technology. Anticipated trends in Industry 4.0 include increased intelligence, improved sensing, and better integration with existing smart manufacturing. Advances in sensor tech will enhance cobots’ understanding of their surroundings, improving efficiency across various industries.

Cobots represent a significant advancement in the field of industrial robotics market, offering a collaborative and safer approach to automation that is in line with the changing demands of the modern market. As artificial intelligence and machine learning reshape the sphere of industrial robotics globally, collaborative robots with intelligence and advancement are anticipated to propel industrial robotics market growth during the forecasting years.

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By Vinay Khatate


Collaborative robots (cobots) and cooperative robots both involve human-robot interaction. Collaborative robots can work directly with humans in a shared location, adapting to their actions in real time. Cooperative robots, on the other hand, frequently collaborate with people but may require predefined, coordinated activities that do not allow for real-time adaptation.

Rising demand for industrial robots is fueled by several factors such as labor shortages and costs pushing automation, robots boosting production efficiency and quality, advancements making them smarter and adaptable, and companies reshoring production and strengthening supply chains through robot reliance.

Industrial robots enhance operational efficiency by automating repetitive tasks, reducing labor costs, and improving precision. Their ability to work continuously contributes to increased productivity in manufacturing processes.