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Cobots are similar but smaller when compared to that of industrial robots. It is also comparatively cheaper in price and much user friendly. For a large-scale mass production, industrial robots can provide best efficiency. However, for small and medium scale businesses, cobots can be much more effective when it comes to automation on the shop floor. Cobots are Collaborative Robots. It is more of a collaboration between Human and Robot in a shared space and can optimize human work in various aspects. International Federation of Robotics (IFR) defines multi-level of collaboration viz., Coexistence, Sequential, Cooperation and Responsive Collaboration. Traditional Robots are best fit for: Large batches, small variability Complex deployment Consistent environment Human monitoring Focus on Robot Automation Big Investments Longer ROI Alternatively, Cobots could be a best alternative for: Low-volume, high-mix Fast and Easy deployment Agile and adapts to environment Collaborative Focus on End-Of-Arm-Tooling (EOAT) Lower upfront cost Faster ROI Cobots in Service Industry: It is often referred as RaaS (Robots-as-a-Service) and few of the utilities includes that of, Robotic-Assisted Knee Surgery (robotic arm assistance) Food Robots - Packaging (Wrapper, Vacuum sealer) Food Robots - Other Applications (Palletizing, Pick-and-place, Logistical automation) Product Quality Inspection (Cobot arms for visual inspection using 3d Cameras) Aviation (Cobot co-pilot mainly for Military UCAV (Unmanned combat aerial vehicles)) Agriculture (Farming - Once Cobot identifies flowers, fan gets activated for effective pollination (Smart Farming)) Diary (Robotic Milking) Restaurant Cobot These cobots are identified and selected based on critical factors such as, Reach (500 - 900 mm) Payload (2kg - 16kg) Footprint (Ø 128 - 200 mm) Weight (10kg - 35kg) Technology Advancements like IoT features with loaded capabilities such as heat sensors and thermal cameras help the cobots to perform more accurate tasks based on their use cases. Anticipating the rise of 5G, could lead Cobots to get fully automated and to perform tasks with greater accuracy.