At 33.1% CAGR, North America Collaborative Robots Market is Projected to be Worth US$ 2,311.90 Million by 2031, says Business Market Insights

According to Business Market Insights research, the North America collaborative robots market was valued at US$ 235.09 million in 2023 and is anticipated to reach US$ 2,311.90 million by 2031, registering a CAGR of 33.1% from 2023 to 2031. Advancement in robotics industry and rapid expansion in manufacturing industry are among the critical factors attributed to driving the North America collaborative robots market growth.

In the coming years, as machine learning algorithms and other technologies such as neuromorphic chips improve their capabilities to enable smarter robot, collaborative robot might be able to perform the tasks that only humans can do at the moment, in fact, in a better way. These robots will then be able to access a plethora of databases and recognize machines, people, and parts, further enabling them to derive critical insights and act upon them. This is anticipated to be a key trend in the collaborative robot market in the coming years. In addition, the players in this industry are significantly investing in the development of collaborative robot integrated with artificial intelligence and machine learning. The integration of artificial intelligence in these robots will further enhance human operators' support, which will benefit countries with inadequate and expensive labor forces.

On the contrastingly, the relatively slow production rate hampers the growth of North America collaborative robots market.

Based on payload, the North America collaborative robots market is segmented into 5–10 Kgs, up to 5 Kgs, and Above 10 Kgs. The 5–10 Kgs segment held 45.5% market share in 2023, amassing US$ 106.86 million. It is projected to garner US$ 926.99 million by 2031 to register 31.0% CAGR during 2023–2031.

In terms of application, the North America collaborative robots market is categorized into assembly, pick and place, material handling, quality testing, machine tending, welding, packaging, and others. The assembly segment held 21.7% share of North America collaborative robots market in 2023, amassing US$ 51.09 million. It is anticipated to garner US$ 436.33 million by 2031 to expand at 30.7% CAGR during 2023–2031.

By type, the North America collaborative robots market is segmented into robotic arm, welding guns, grippers, and others. The robotic arm segment held 58.7% share of North America collaborative robots market in 2023, amassing US$ 138.11 million. It is projected to garner US$ 1,425.58 million by 2031 to expand at 33.9% CAGR from 2023 to 2031.

Based on end-user industry, the North America collaborative robots market is segmented into automotive, electronics, metal and machinery, food and beverage, logistics, pharmaceuticals, and others. The automotive segment held 36.7% share of North America collaborative robots market in 2023, amassing US$ 86.36 million. It is predicted to garner US$ 790.54 million by 2031 to expand at 31.9% CAGR between 2023 and 2031.

By functionality, the North America collaborative robots market is bifurcated into static robot and mobile robot. The static robot segment held 95.7% share of North America collaborative robots market in 2023, amassing US$ 225.01 million. It is estimated to garner US$ 2,198.72 million by 2031 to expand at 33.0% CAGR during 2023–2031.

Based on country, the North America collaborative robots market is categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 71.0% share of North America collaborative robots market in 2023. It was assessed at US$ 166.85 million in 2023 and is likely to hit US$ 1,694.91 million by 2031, registering a CAGR of 33.6% during 2023–2031.

Key players operating in the collaborative robots market are ABB Ltd; Agile Robot SE; Aubo (Beijing) Robotics Technology Co Ltd; Azenta, Inc.; Bosch Rexroth AG; Comau SpA; Denso Corp; Doosan Robotics Inc; ESTUN AUTOMATION CO., LTD; Fanuc Corp; Kawasaki Heavy Industries Ltd; Kuka AG; OMRON Corp; Productive Robotics, LLC; Rethink Robotics GmbH; SIASUN Robot & Automation CO., Ltd; Svaya Robotics Pvt. Ltd.; Techman Robot Inc; Teradyne Inc; and Yaskawa America Inc, among others.

• In September2024, Rethink Robotics makes a comeback at IMTS by introducing its Rethink Reacher (RE) line of cobots. Having a rich background in innovative technologies and being a reliable industry ally in improving productivity and safety, Rethink Robotics is re-emerging with a fresh company vision to provide superior products and solutions for the North American market.

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com