Automotive Robotics Market to Witness Huge Growth By 2024

By Ronak Bora

Automotive robotics market from software and services segment is estimated to surpass USD 1 billion by 2024. The rising enhancements in software programming have resulted in improving product quality, enabling real time decision making, in turn boosting software and services segment growth through the assessment period.
The surging adoption of robotic arms in sectors demanding the performance of repetitive tasks has been instrumental in driving automotive robot controllers market growth. Automotive robot controllers, the most commonly utilized form of hardware, are expected to exhibit a CAGR of more than 4 per cent through the anticipated span.
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The applicability of SCARA robots in the car manufacturing industry is anticipated to cross more than 33 thousand units through 2024. Growing applicability in handling and high-speed assembly will foster the augmentation of automotive robotics market size through the ensuing years.
Considering the multiple benefits such as stiffness, high speed, and flexible fixturing, micro-manufacturing automation is expected to stimulate automotive robotics product demand in the years to come. The automotive robotics market from parallel robots is likely to witness an appreciable CAGR of more than 4 per cent through 2024.
The increasing number of collaborations by major automotive robotics companies for devising technological inputs for the enhancement of autonomous features and boosting production are poised to drive global automotive robotics market augmentation through the forthcoming years.
The Einride Pod is the first-of-its-kind vehicle, allowing heavy freight operation that is 100 per cent electric and entirely unmanned, revolutionizing transport to be cost-effective and sustainable. The next-generation Pod takes AET (Autonomous Electric Truck) functionality to the next level, from AET 1 (fenced area operation) to AET 4 (highways), meeting a sizable portion of transport requirements at the global level.
The product demand is primarily driven by the escalating requirement for appropriate functioning and better productivity of assembly lines in vehicle production. The surging number of technological advancements in raw materials for robot making are further likely to spur automotive robotics industry demand over the estimated span.
On the whole, extensive utilization of robotics in automotive robotics market is expected to cause a reduction in labor costs, augmenting the profitability of OEMs, further boosting industry growth through the forthcoming years. Key automotive robotics companies include ABB, Universal Robots, KUKA Robotics, Fanuc, Rockwell Automation, Yamaha, Kawasaki Heavy Industries, Omron Corporation, and others.
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Partial Chapter of the Table of Content
Chapter 4.   Automotive robotics Market, By Product
4.1.   Global market share by product, 2016 & 2024
4.2.   Articulated
4.2.1. Global market estimates and forecasts, 2013 – 2024
4.2.2. Market estimates and forecast, by region, 2013 – 2024
4.3.   Cartesian
4.3.1. Global market estimates and forecasts, 2013 – 2024
4.3.2. Market estimates and forecast, by region, 2013 – 2024
4.4.   SCARA
4.4.1. Global market estimates and forecasts, 2013 – 2024
4.4.2. Market estimates and forecast, by region, 2013 – 2024
4.5.  Parallel
4.5.1. Global market estimates and forecasts, 2013 – 2024
4.5.2. Market estimates and forecast, by region, 2013 – 2024
4.6.   Cylindrical
Charts & Figures
FIG 1    Automotive robotics market segmentation
FIG 2    Industry landscape, 2013 - 2024
FIG 3    Industry ecosystem analysis
FIG 4    Industry impact forces
FIG 5    Competitive landscape, 2016
FIG 6    Porter’s analysis
FIG 7    PESTEL analysis
FIG 8    Market share by product, 2016 & 2024
FIG 9    Market share by component, 2016 & 2024
FIG 10 Market share by application, 2016 & 2024
FIG 11  Market share by region, 2016 & 2024
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About Author

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport....

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