India Collaborative Robots Market to Register a High CAGR during the Forecast Period
Increase in government
initiatives and support is a significant factor driving the growth of the India
Collaborative Robots market during the forecast period of 2024-2028.
According to the TechSci
Research report, " India Collaborative Robots Market – By Region
Competition Forecast and Opportunities, 2018–2028," the India Collaborative
Robots Market is anticipated to expand in the coming years. Collaborative robotics,
a core technology of Industry 4.0, enhances work conditions and efficiency. Several automotive
manufacturers have introduced cobots in assembly production lines. Cobots are
flexible and can quickly adapt to different tasks from mass production to mass
customization and handle more output variation, with shorter life cycles and
smaller batch sizes. According to the International Federation of Robotics, the
cobot market is growing. The end-users and system integrators are still
exploring the design and implementation of cobots such as sensors, grippers,
and interfaces.
India is a major production
and manufacturing center for cobots as there is increase in various strategies
such as “Make in India” foster companies for robotics technology to meet India
requirements and set a new international benchmark. Moreover, robotics industry
in a country generates employment to 10,000 employees for three robots. According
to NITI Aayog, Automation, and more specifically robotics has a huge economic
potential on employment which estimates that AI would add USD 1 trillion to the
Indian economy by 2035. To strengthen robotics industry in the country
government introduced several initiatives and policies. For instance, in 2019
Union Budget, government offers industry-relevant skill training for 10 million
youth in India in technologies such as AI, Big Data, and robotics.
In 2020, Government of India introduced
product linked for large scale electronics manufacturing and IT Hardware. PLI scheme
covers robotics components camera, sensors, resistors, capacitors, inductors,
diodes, and transistors., encoders, potentiometers, resolvers, and/or
tachometers. Government plays a major role in funding R&D and innovation
projects. India is ranked 11th highest country in robotics research.
Indian robotic startup
industry is slowly gaining grip as the demand for robots for industrial use
increases. The All-India Council for Robotics and Automation (AICRA) has
announced the launch of a new initiative, dubbed AICRA Tech Startup Programme.
Robotics Research Center
(RRC) is a part of the International Institute of Information Technology (IIIT)
Hyderabad, India. The lab aims to work on research problems and innovative
projects in robotics.
Browse
over XX market data Figures spread through XX
Pages and an in-depth TOC on the "India Collaborative Robots Market"
The India
Collaborative Robots Market is
segmented on the basis of payload capacity, application, industry, region, and competitive
landscape.
In 2021, the material
handling segment contributed significantly to revenue. Material-handling robots
can automate tasks and provide a safe work environment by automatically
processing harmful raw materials in factories, warehouses, and distribution
centers.
According to
analysis, India is expected to grow at the fastest rate during the forecast
period. Collaborative robots are thriving in the Asian market, particularly
India and have been recognized in the India Tech market. In India, government
established an Artificial Intelligence and Robotics Technology Park (ARTPARK)
at Indian Institute of Science to enhance research & development ecosystem
with an investment of USD 30 million. Furthermore, government introduced
product linked incentive scheme covers wide variety of robotics components including
camera, sensors, resistors, capacitors, inductors, diodes, and transistors.,
encoders, potentiometers, resolvers, and/or tachometers.
Major
market players operating in the India Collaborative Robots Market are:
- ABB AB
- Addverb Technologies
- KUKA Robotics
- Robert Bosch GmbH
- GreyOrange
- Sastra Robotics India
Private Limited
- Lockheed Martin India
Private Limited
- Precise Automation, Inc.
- Techasoft Private Limited
- DiFACTO Robotics
Download Free Sample Report
Customers can
also request 10% free customization on this report.
"India Collaborative
Robots Market is expected to thrive because humans can easily collaborate with
robots, train them with programmable movements, and then handle material and
sorting packages simultaneously. In material transportation environments,
robots can seamlessly move objects and process as quickly as any human. This is
anticipated to propel the demand for collaborative robots across the country over
the next five years.", said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based India management consulting firm.
" India Collaborative Robot Market, by
Payload Capacity (Up to 5 Kg, between 5 and 10 Kg and Above 10 Kg), By
Application (Assembly, Pick & Place, Machine Tending and Others), By
Industry (Automotive, Electronics, Metals & Machining, Plastics &
Polymers, and Others), By Region, Competition Forecast and Opportunities, 2028", has evaluated the future
growth potential of India Collaborative Robots market and provides statistics
& information on market size, structure, and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in India Collaborative Robots Market.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]
Web: https://www.techsciresearch.com