Collaborative Robots, or Cobots, Set to Benefit Businesses in Asia BY :SIENNA CURNOW FEBRUARY 12, 2021
Singapore. A report by the World Robotics 2020 Industrial Report shows a record of 2.7 million industrial robots operating in factories globally, with 373,000 units shipped in 2019.
Amongst industrial robots, collaborative robots (cobots) continue to be the fastest-growing segment of industrial automation, projected to grow at a Compound Annual Growth Rate (CAGR) of 41.8% globally from 2020 to 2026, in a report by Markets&Markets.
The Asia Pacific cobot market is projected to become the largest cobot market worldwide, growing at a CAGR of 45.46 percent, with an addressable cumulative market value of $13.17 billion over the next 7 years in terms of cobot hardware.
Microcontroller Market is Projected to Reach USD 20 Billion by 2027
According to a recent study from market research firm Global Market Insights, The global microcontroller market has gained considerable traction over the years due to the widespread use of these components in smart building automation systems. Automation systems like HVAC control, fire protection, and lighting systems, and security and surveillance technologies, are all integrated with microcontroller units.
Certain benefits of using microcontrollers include energy efficiency, stable output readings, and high precision input and output peripherals, all of which is integral for 24×7 monitoring and control applications. The growing adoption of advanced IoT technology in smart buildings has driven the demand for the product.
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The average robot density in the manufacturing industry hit a new global record of 113 units per 10,000 employees. By regions, Western Europe (225 units) and the Nordic European countries (204 units)