• A cobot is intended to work hand-in-hand with humans in a shared workspace. 
• This is in contrast with full-fledged robots that are designed to operate autonomously or with limited guidance. 
• They support and relieve the human operator of his excess work.
• The automotive sector is a large adopter of cobots. The global electronics industry is also an adopter. Industry watchers felt that manufacturing cannot be competitive without the extensive use of industrial robots.
• Manufacturing is a capital-intensive sector and the idea that it can be used to create a lot of low- or medium-skilled but well-paid jobs, as it did in past centuries, is obsolete. 
• Benefits of cobots were compactness, low payback period, flexibility, lightweight nature, cost-effectiveness, accuracy and safety. 
• Other benefits include zero annual maintenance costs, reduced power consumption and retention of IP within the company. 
• Cosmetics firm L’Oreal has also deployed cobots. 
• It is estimated that a little less than 40,000 cobots have been deployed all over the world. 
• Big names that have entered into this field include Epson and ABB. There are about 30-40 players in this market.
• The adoption has been low in India compared with China and the developed world. For every cobot sold in India, 30 are sold in China.

Source:TH