Automotive Robotics Market
Posted by geeta narwade on February 25th, 2020
Automotive Robotics Market size is valued at US$ 6.60 Bn in 2018 and expected to grow at a CAGR of XX % in the forecasting period.
Rising advancements in multi-functional robotics results in fast production cycles. This technology substitutes human labor for carrying out hazardous and repetitive tasks performed in the workspace. It is broadly deployed in the automotive industry to maintain consistency and high precision in assembling work for better productivity.
However, the high installation cost will hamper the overall automotive robotics market revenue over the forecast timeline. Uncertainty related to stored data from the product will restrict the industry as information contained in databases can lead to unlawful access or misuse. Moreover, rising unemployment due to automation will act as a restraint to the automotive robotics market size.
By component, the market is segmented as hardware and software & services. Software & services dominate the market with over 50% share and will exhibit rapid growth over the forecast timeframe. Developments such as the cloud-based platform will propel the industry share over the forecast time frame.
Region-wise, the automotive robotics market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia-Pacific is expected to be the largest market for automotive robotics during the forecast period driven by the China market. China automotive robotics market has increased drastically in the past two to three years on account of increasing the Automobile-4.0-Robotics program covering Hydronics, packaging machinery, welding, process equipment, SPS IPC Drives, and fluid power.
Major players such as KUKA, FANUC are immensely concentrating on their research activities to develop innovative products and eliminate its technological glitches. Moreover, the players are involved in strategic partnerships with automobile vendors to provide product software up-gradation and services by maintaining a long-term relationship.
The objective of the report is to present a comprehensive analysis of the Global Automotive Robotics Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by Region.
PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by Region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Automotive Robotics Market dynamics, structure by analyzing the market segments and project the Global Automotive Robotics Market size. Clear representation of competitive analysis of key players by Type, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Automotive Robotics Market make the report investor’s guide.
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Automotive Robotics Market, By Product
• Welding, Assembly
• North America
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the current Automotive Robotics market outlook. The report encompasses the Automotive Robotics market by different segments and region, providing the in-depth analysis of the overall industry ecosystem, useful for taking an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Automotive Robotics market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Automotive Robotics market positioning of competitors.
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About the Authorgeeta narwade
Joined: September 2nd, 2019
Articles Posted: 100
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