Collaborative robot prices: How much do they cost in 2024?

Cobot pricing guide

Unlike their burly industrial counterparts, Cobots offer a diverse price range, depending on their specifications. But remember, it's not just about the price tag! 

Collaborative robot prices depend on the specific features that fit your needs, like:

• Size
• Payload capacity
• Number of axes
• Engineering design
• Versatility
• Automation features

Remember, there's no one-size-fits-all solution when it comes to Cobot pricing. But to give you a rough idea, check out these ballpark figures:

• Basic assembly buddies: A simple Four-Axis Cobot for light-duty assembly could be yours for around $8,000.
• Material masters: A Six-Axis Cobot with a higher payload capacity for moving materials or packaging products could cost closer to $20,000.
• Tech-powered taskmasters: Cobots equipped with vision systems and AI for complex tasks like quality control or inspection might reach the $35,000+ range.

Remember: these are just estimates, for basic models and the final price depends on your specific needs and chosen brand. 

High-end Cobots can cost over $100,000, but we’ll get into that below.

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Yes, Cobots can be budget-friendly

Want to know the main draw of Cobots? They provide a much more cost-effective path to automation for businesses of all sizes. 

While Cobots may sometimes be simpler in design and engineering, they do pack the punch needed to get the job done efficiently - and without killing your bank account.

Moreover, many Cobots are extraordinarily user-friendly,  with intuitive UIs (user interfaces) and quick integration with other machines and human employees.

While yes, Industrial robots are still the norm in large-scale operations, Cobots offer a budget-friendly alternative that is just too good for small and medium-sized businesses to pass up.

And then there’s the enticing opportunity of cutting back on costs further by using refurbished Cobots.

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What do you get from saying yes to Cobots? 

• Reduced investment barriers: Lower entry costs make automation accessible to a wider range of businesses.
• Fast track to ROI: Shorter payback periods due to lower upfront investments maximize the financial benefits of Cobot integration.
• Handle many tasks like a champ: Cobots are engineered for adaptability, tackling multiple tasks with ease through simple reprogramming, further reducing the need for multiple specialized robots.
• Safe from the get-go: Collision avoidance sensors and other safety features enable safe collaboration between Cobots and humans, minimizing risk and accidents.
• Integration is much easier: "Plug-and-play" features virtually ensure a minimal setup time, meaning less downtime, and more productivity.

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What drives the price of Cobots?

Understanding the price tags of Cobots can feel like deciphering a complex code. But fear not! 

Here's a breakdown of the key components and features that contribute to their cost:

• Base Cobot: This forms the core of your investment, and its price tag hinges on three factors: size, payload capacity, and the number of axes. Generally, a compact Four-Axis SCARA Cobot will be more budget-friendly than a Six-Axis articulated model capable of handling heavier payloads.
• End of Arm Tooling (EOAT): Think of this as the hands of your Cobot. Different tasks require specialized grippers or tools, impacting the overall cost. Consider the versatility you need: basic grippers for pick-and-place tasks will be less expensive than complex vision-guided suction cups for intricate handling.
• Software: Unlike their industrial counterparts, most Cobots come with user-friendly, open-source software included in the base price. However, advanced functionalities like AI integration or cloud connectivity might involve additional software licenses or subscription fees.
• Safety features: Built-in collision avoidance sensors and safety protocols are standard in Cobots. Additional features like vision cameras or safety fences can add to the cost, but prioritize safety - and peace of mind.
• Installation and training: Many Cobot manufacturers offer plug-and-play installation and user-friendly interfaces, minimizing setup costs. However, some complex configurations or specialized tasks might require additional training or professional assistance, impacting the final price.

Price ranges: budget breakdown

Collaborative robot prices also have a low, mid, and high range. 

Here, we’ll explain what they’re about. 

In the low price range, we’ve got Cobots ideal for basic automation needs. Expect Four-Axis models with simpler software and lower payloads in the $8,000-$20,000 range.

Mid-range bots strike a balance between cost and functionality. These robots offer slightly more features and increased payloads compared to their budget-friendly counterparts. Look for these versatile options in the $20,000+ range.

High-range Cobots are reserved for specialized tasks, these robots boast advanced software, heavy-duty payloads, and multiple axes for precision. Expect a significant investment, typically surpassing the $35,000 mark and sometimes going as far as 100,000+.

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Budgeting for a Cobot: A seven-step guide

Bringing a Cobot into your workforce requires careful financial planning.

Here's a concise guide to navigate this process, ensuring a smooth integration and a positive return on investment:

• Identify your needs. Determine the specific tasks you envision for your Cobot. Will it enhance productivity in assembly, boost efficiency in packaging, or assist with quality control measures? Aligning your needs with Cobot capabilities is crucial for selecting the right model.

• Shop around. Research various Cobot manufacturers and request price quotes for models that match your requirements. Compare price points, features, payload capacities, and software capabilities to find the best value for your budget.

• Estimate operational costs first. Factor in the ongoing expenses associated with running a Cobot. Consider maintenance fees, potential part replacements, software updates, and energy consumption. While Cobots are generally energy-efficient, understanding these costs is essential for accurate budgeting.

• Get a sense of your ROI. Determine the potential financial benefits of Cobot integration. Consider labor savings, productivity gains, improved quality control, and reduced downtime. Comparing these gains to the initial investment will reveal the expected return on investment.

• Keep the additional costs in mind. Remember to include expenses like end-of-arm tooling, safety components (if needed beyond built-in features), installation costs, and potential programming or training expenses for your staff.

• Explore other financial options. Upfront costs pose a challenge, investigate leasing options or government incentives that support technological upgrades. These programs can make Cobot integration more financially accessible.

• Have a chat with your accountant. Engage your company's financial expert to assess available capital and determine the most suitable payment method—purchase, lease (makers like Standard Bots lease for less than $5/hour!), or a combination. Regularly review and adjust your budget to ensure alignment with your Cobot investment.

• Remember: Cobots often offer more affordable price points compared to traditional Industrial robots. By carefully evaluating your needs, exploring financing options, and calculating ROI, you can make a cost-effective decision that empowers your business with the benefits of automation.

Understanding the difference between Cobot and Industrial robot price points is key to making an informed investment. Let's explore the trade-offs:

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Industrial robots: power and precision (at a premium)

• Performance: These workhorses are built for elite accuracy and speed, tackling complex tasks and handling heavy payloads. Advanced technology and software fuel their prowess.
• Durability: Industrial robots are engineered for endurance, operating relentlessly in demanding environments. Expect high-quality materials and robust construction.
• Integration: Seamless connections with other systems are a hallmark of Industrial robots, often enabled by sophisticated AI and software interfaces.
• Cost: Be prepared for a hefty price tag, reflecting the cutting-edge technology and capabilities packed within. Think tens of thousands to hundreds of thousands, depending on the configuration.

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Cobots: cost-effective collaboration

• Functionality: Cobots focus on efficiently completing specific tasks, prioritizing affordability over complex functionalities. Consider them capable assistants, not versatile automation masters.
• Simplicity: User-friendly interfaces and straightforward operation make Cobots ideal for easy adoption, especially for smaller businesses. No need for extensive training or intricate programming. Some newer Cobots, like Standard Bots’ RO1, don’t even need coding! 
• Collaboration: Working safely alongside humans is a Cobot's forte. Built-in safety features and intuitive design foster seamless human-robot interaction. It’s noteworthy though, that you should not rely on Cobot sensors for employee safety. Always have the necessary precautions in mind.
• Cost: The attractiveness of Cobots lies in their affordability, often comparable to an annual factory worker's salary. Budget-conscious businesses rejoice!

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Summing up

Whether you choose the affordability and agility of a Cobot or the power and precision of an Industrial robot, these mechanical phenoms are reshaping industries with their efficiency and accuracy.

Cobot makers, like Standard Bots, lead the charge for collaboration, simplifying automation and making it accessible to businesses of all sizes. 

By bringing Collaborative robot prices down, Cobot companies are ushering in a brand new world of human-machine teamwork.

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Next steps

Looking to bring your shop floor into the 21st century with a Cobot? Enter RO1 from Standard Bots—the optimal choice for both burgeoning startups and established industrial giants alike.

• Affordable and reliable: RO1 leads its class of robotic arms, delivering unparalleled value at half the cost of its nearest competition.
• Swift & robust: Despite sporting a best-in-class payload of 18 kg, RO1 outpaces rivals in both speed and precision.
• Built-in safety: Equipped with safety sensors and collision detection, RO1 ensures secure and dependable operations right on your shop floor.

‍Get in touch with our solutions team today to initiate a complimentary, 30-day onsite trial and receive tailored guidance for a seamless RO1 deployment!