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Follow on Google News | Collaborative Robots Market: Comprehensive study explores Huge Growth in FutureBy: AllTheResearch The Global Collaborative Robot Market (https://www.alltheresearch.com/ Collaborative Robot Market is expected to reach USD 11,684.8 million by 2027, registering a CAGR of 41.8%, during 2021-2027. Get a sample copy of research study @ https://www.alltheresearch.com/ The increasing affordability and improved ease in the programming of collaborative robots or Cobots are the prominent factors accelerating the growth of the global collaborative robot market. Collaborative robots perform several functions such as welding and soldering, dispensing, assembling & disassembling, processing, inspection, and quality testing, and many more. This has provided many organizations an opportunity to improve their productivity and efficiency as these repetitive functions can be easily performed by robots. However, this leads to the increasing deployment of collaborative robots in industries of all verticals from manufacturing to healthcare. For instance, in November 2019, Tomenson Machine Works adopted UR3 cobots by Universal Robots to achieve automation in its pin stamping application. The cobot-powered solution delivered helped in a 40% reduction in misloads and increased the company's profitability by providing ROI within 6-7 months. Some of the leading competitors functioning in this market are: ABB Group, DENSO Robotics, EPSON Robots, Energid Technologies Corporation, F&P Robotics AG, Fanuc Corporation, KUKA AG, MRK-Systeme GmbH, Precise Automation, Inc., Rethink Robotics, Inc., Robert Bosch GmbH, Universal Robots A/S, Yaskawa Electric Corporation, MABI AG, Techman Robot by Quanta Storage, Inc., Franka Emika GmbH, AUBO Robotics Inc., Comau S.p.A., among others. Key Findings:
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