What is the future market of Global Collaborative Industrial Robots Market?

The future market of Global Collaborative Industrial Robots Market is projected to grow at a CAGR of about 14.4% over the period from 2014-2020.
Globally, collaborative robots are used in industrial production applications such as automated manufacturing, packaging, palletizing and more. The growing industrial automation process has led to an increased demand of collaborative robots that can work side by side with humans. In 2020, the global collaborative robotics market was worth USD 979.6 million. In the period 2021-2028, the market is expected to increase at a CAGR of 42.7 percent, from USD 1,358.2 million in 2021 to USD 16,387.3 million in 2028.