The Danish company Universal Robots (www.universal-robots.com), which pioneered and commercialised collaborative robot (cobot) technology, has continued its rapid expansion world-wide with a growth rate of 62% from 2015 to 2016, revenues of DKK 662 million and profits of DKK 92 million before tax.

Company president Jürgen von Hollen says he expects revenue growth of 50% or more this year, putting the company on target to reach DKK 1 billion by the end of 2017.

“Scaling the business to continue to deliver growth year after year is a key priority. Compared to 2015, we more than tripled our investments in 2016, especially in R&D, enabling us to maintain our product leadership position, particularly in cobot technology.

“Equally important has been the continued investment in our staff, along with extending our capability, know-how and global reach.”

Universal Robots, which now has offices in 11 countries (up from five in 2015) and distributors covering more than 50 countries world-wide, says the global collaborative-robot market has entered a new phase of growth.

“Our technology has been an enabler for all companies to integrate automation into their production processes. We are committed to growing our market share, as the collaborative-robot market experiences continued and explosive growth over the coming years.”