The TechSci Research report on the “India Collaborative Robots Market – By Region Competition Forecast and Opportunities, 2018–2028″ indicates promising growth prospects for the Indian collaborative robots market. As a core technology of Industry 4.0, collaborative robotics is enhancing work conditions and efficiency across various industries. Notably, automotive manufacturers have integrated cobots into assembly production lines, leveraging their flexibility to adapt quickly to different tasks and handle varying output requirements.
India’s status as a major production and manufacturing hub for cobots is bolstered by initiatives like “Make in India,” which aim to foster domestic robotics technology development. These efforts not only meet India’s requirements but also set international benchmarks. Furthermore, the robotics industry contributes significantly to employment generation, with an estimated 10,000 employees for every three robots deployed, according to NITI Aayog. Automation, including robotics, is projected to have a substantial economic impact, potentially adding USD 1 trillion to the Indian economy by 2035.
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Government initiatives and policies play a crucial role in strengthening the robotics industry. For instance, the Union Budget of 2019 allocated resources for industry-relevant skill training in technologies such as AI, Big Data, and robotics. Additionally, the introduction of the Production Linked Incentive (PLI) scheme in 2020 further supports large-scale electronics manufacturing and IT hardware, covering various robotics components.
The Indian robotic startup industry is witnessing gradual growth, spurred by increasing demand for industrial robots. Initiatives like the AICRA Tech Startup Programme aim to foster innovation in this sector. Additionally, research institutions like the Robotics Research Center at IIIT Hyderabad are contributing to robotics research and development.
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
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In terms of market segmentation, the material handling segment has emerged as a significant contributor to revenue, offering automation solutions for tasks in factories, warehouses, and distribution centers. India is expected to exhibit the fastest growth rate in the collaborative robots market, driven by factors such as the establishment of the Artificial Intelligence and Robotics Technology Park (ARTPARK) and the implementation of product-linked incentive schemes.
In conclusion, the demand for collaborative robots in India is anticipated to surge over the next five years due to their ability to collaborate with humans, handle material, and sort packages simultaneously, particularly in material transportation environments. The report aims to provide comprehensive insights into the India Collaborative Robots Market, enabling decision-makers to make informed investment decisions and capitalize on emerging opportunities in this dynamic sector.
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