“Automotive Robotic Market: Global Demand
Analysis & Opportunity Outlook 2024”
The
global automotive robotic market is segmented into product
type such as articulated robots, cartesian
robots, cylindrical robots, SCARA
(Selective Compliance Assembly Robot Arm/ Selective Compliance Articulated
Robot Arm) robots, and others, out of which articulated robots segment accounted for the largest
segments in overall automotive robotic market
and articulated robots segment is projected to grab a remarkable CAGR
over the forecast period i.e. 2017-2024. Likely, growing demand for automotive
all across the globe is believed to foster the growth of automotive robotic market. In addition
to this, increasing labor cost along
with lack of skilled labor is also projected to intensify the growth of automotive
robotic market by the end of 2024.
Global automotive robotic market is anticipated to post a noteworthy CAGR
of 10.1% over the forecast period i.e. 2017-2024. Additionally, robust
expansion of automotive industry has augmented the demand for automotive robotics. Moreover, the
global automotive robotic market
is anticipated to account notable revenue of USD 8.8 billion by the end of
2024.
The primary manufacturing
process robots segments captured the largest market of automotive robotic in 2016. In terms of regional
platform, Asia-pacific region accounted for the biggest automotive robotic market in 2016 owing to presence of largest automotive industry.
Moreover, China and India are the major countries witnessing the augmented
demand for automotive robots. Likely, rapid urbanization and positive GDP figures are believed to positively impact the
growth of Asia-pacific automotive robotic market.
Robust Expansion of Automotive
Industry
Increasing sales of vehicles on
the back of rise in per capita income of the consumers and increase in adoption
of automation to ensure quality production are believed to be the dynamic
factor behind the rapid growth of automotive
robotic market. Moreover, automotive robotics reduces the operational cost and
improves quality of product. This factor is envisioned to propel the growth of automotive
robotic market.
Technological Advancements in Robotics
Continuous
technological advancement in automotive robotics by major key vendor is
predicted to flourish the growth of automotive robotic market by 2024.
Furthermore, various government norms regarding labor safety is also projected
to foster the growth of automotive robotic market
On
the contrary, high initial investment regarding installation of automotive
robotics is projected to hinder the growth of automotive robotic market during
the forecast period.
The
report titled “Automotive Robotic Market: Global Demand Analysis &
Opportunity Outlook 2024” delivers
detailed overview of the global automotive
robotic market in terms of market segmentation by product
type, by application and by region.
Further, for the in-depth
analysis, the report encompasses the industry growth drivers, restraints,
supply and demand risk, market attractiveness, BPS analysis and Porter’s five
force model.
This report also provides the
existing competitive scenario of some of the key players of the global automotive robotic market which
includes company profiling of ABB, Adept, Epson
Robotics, Fanuc, Honda, Intuitive Surgical, iRobot, Kawasaki, KUKA, and Yaskawa
Electric. The profiling enfolds key information of the companies which
encompasses business overview, products and services, key financials and recent
news and developments. On the whole, the report depicts detailed overview of
the global automotive robotic market
that will help industry consultants, equipment manufacturers, existing players
searching for expansion opportunities, new players searching possibilities and
other stakeholders to align their market centric strategies according to the
ongoing and expected trends in the future.
About Research
Nester
Research Nester is a leading service provider for
strategic market research and consulting. We aim to provide unbiased,
unparalleled market insights and industry analysis to help industries,
conglomerates and executives to take wise decisions for their future marketing
strategy, expansion and investment etc. We believe every business can expand to
its new horizon, provided a right guidance at a right time is available through
strategic minds. Our out of box thinking helps our clients to take wise
decision so as to avoid future uncertainties.
Read more Information: https://www.researchnester.com/reports/automotive-robotic-market-global-demand-analysis-opportunity-outlook-2024/324
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Info:
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Daniel
U.S.
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