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According to a new analysis by Inkwood Research, the global market for collaborative robots is on track to generate a net revenue of about $9.27 billion by 2025. Many so-called cobots cost around $30K. There's increasing demand for small, flexible robotic platforms in numerous industries. Other factors responsible for the surging market and stiffening competition include widening applications of collaborative robots, falling sensor and platform prices, and heavy investments by robotics companies over the past decade in research & development.