openPR Logo
Press release

The Global Automotive Robotics Market Assessed to Acquire $12665.25 Million in Revenue by 2028

09-20-2021 02:28 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Triton Market Research

The Global Automotive Robotics Market

The Global Automotive Robotics Market

According to Triton’s report, the global automotive robotics market, which reaped $5397.76 million in 2020, is predicted to witness growth at 11.63% of CAGR by 2028.

A recent study by Triton Market Research titled ‘Global Automotive Robotics Market’ consists of the Global Analysis and Forecasts by End-use {Assembly, Cutting & Milling, Material Handling, Welding, Painting, Other End-use}, Component {Controller, Robotic Arm, End Effector, Sensors, Drive, Other Components}, Type of Robot {Articulated Robots, Cartesian Robots, Cylindrical Robots, SCARA Robots, Other Type of Robots (Polar/Spherical Robots)}, and by Geography (Asia-Pacific, North America, Latin America, Middle East and Africa, Europe).

Request Free Sample of the Global Automotive Robotics Market Report @ https://www.tritonmarketresearch.com/reports/automotive-robotics-market#request-free-sample

Triton’s report estimates the global automotive robotics market to surge based on revenue at a CAGR of 11.63% during the period of 2021-2028. It is further projected to display revenue worth $12655.25 million by 2028.

Collaborative robots or cobots are a new generation of manufacturing bots that are designed to work alongside humans. And even though the automotive industry has largely adopted automation, huge opportunities still remain for incremental growth. Cobots are driving new efficiencies across the industry.

Also, they are flexible, cost-effective, easy-to-deploy & redeploy, and help improve the output and efficiency. Hence, the growing demand for collaborative robots is fostering the growth of the global market. However, while cobots do perform tasks at greater speeds or power than their traditional industrial counterparts, they come at a higher cost. This is impeding the growth of the market.

The market for automotive robotics is mainly categorized into end-use, component, and type of robot. Based on end-use, it is divided into assembly, cutting & milling, material handling, welding, painting, and other end-use. Based on component, it is categorized into controller, robotic arm, end effector, sensors, drive, and other components. The last segment, type of robot, is divided into articulated robots, cartesian robots, cylindrical robots, SCARA robots, and other type of robots (polar/spherical robots).

Globally, the Asia-Pacific is estimated to witness the fastest growth rate in the global automotive robotics market over the forecast duration. It is estimated that future of the automotive robotics market in this region will be optimistic, thanks to the reduction in labor cost in organizations and growing automation of vehicle production, coupled with an increase in safety, accuracy, and productivity over the forecasted years. Along with this, factors such as rapid modernization and the huge need to enhance workplace safety are expected to create lucrative avenues for further development in the APAC market in the coming years.

Denso Wave Incorporated, Comau SPA, Fanuc Corporation, Universal Robots AS, Seiko Epson Corporation, ABB Ltd, Durr AG, Yamaha Robotics, Kuka AG, Omron Corporation, Kawasaki Robotics Inc, Honda Motor Company, Yaskawa Electric Corporation, Harmonic Drive AG, and Nachi Fujikoshi Corporation are the established companies thriving in the studied market.

Purchase this Report @ https://www.tritonmarketresearch.com/reports/automotive-robotics-market#purchase-option

Question & Answer: Automotive Robotics Market

Question 1: What is fostering the growth of the global automotive roboticss market?

Answer: Collaborative robots or cobots are a new generation of manufacturing bots that are designed to work alongside humans. And even though the automotive industry has largely adopted automation, huge opportunities still remain for incremental growth.

Cobots are driving new efficiencies across the industry. Also, they are flexible, cost-effective, easy-to-deploy & redeploy, and help improve the output and efficiency. Hence, the growing demand for collaborative robots is fostering the growth of the global market.

Question 2: What is impeding the growth of the automotive robotics market?

Answer: While cobots do perform tasks at greater speeds or power than their traditional industrial counterparts, they come at a higher cost. This is impeding the growth of the automotive robotics market.

Question 3: Which region is estimated to observe the fastest growth in the automotive robotics market?

Answer: Globally, the Asia-Pacific is estimated to witness the fastest growth rate in the global automotive robotics market over the forecast duration. It is estimated that future of the automotive robotics market in this region will be optimistic, thanks to the reduction in labor cost in organizations and growing automation of vehicle production, coupled with an increase in safety, accuracy, and productivity over the forecasted years. Along with this, factors such as rapid modernization and the huge need to enhance workplace safety are expected to create lucrative avenues for further development in the APAC market in the coming years.

Question 4: Which are the established companies thriving in the automotive robotics market?

Answer: Denso Wave Incorporated, Comau SPA, Fanuc Corporation, Universal Robots AS, Seiko Epson Corporation, ABB Ltd, Durr AG, Yamaha Robotics, Kuka AG, Omron Corporation, Kawasaki Robotics Inc, Honda Motor Company, Yaskawa Electric Corporation, Harmonic Drive AG, and Nachi Fujikoshi Corporation are the established companies thriving in the studied market.



Related Report:

Global SCARA Robots Market

The global SCARA robots market is probable to display growth in its revenue during 2019-2028 at a CAGR of 9.51%. Further, it is calculated to attain revenue worth $18.58 billion by 2028.

Developed nations are currently facing a shortage of skilled labor. Thus, manufacturing companies here have started relying on machines and robots for several processes. Also, the labor cost in these countries is increasing, which affects the overall manufacturing cost. Thus, to reduce the manufacturing cost and solve the issue of labor shortage, companies are adopting industrial robotic systems. Even several developing countries have begun adopting these systems due to the rise in labor costs. This is fuelling the growth of the industrial robotics market, in turn, influencing the demand for SCARA robots.

Besides, robotic systems can be largely used in testing conditions where human workfore is advised not to function, since the conditions there may negatively affect their health. Hence, an increased emphasis on workplace safety has boosted the demand for robotic systems in medium- & large-scale organizations, where it is crucial to maintain optimum efficiency and throughput. In such cases, robots do not merely replace human labor, but also ensure that the efficiency and productivity are maintained without compromising on the workers’ safety. This is another factor driving the demand for SCARA robots, and propelling the market growth.

Triton Market Research
196, wards wharf approach
London E16 2EQ
Phone: +44 7441 911839
Email: sales@tritonmarketresearch.com
Website: https://www.tritonmarketresearch.com/

We are a leading market research company with offices in the UK, providing the best online market research and data search reports to our clients.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release The Global Automotive Robotics Market Assessed to Acquire $12665.25 Million in Revenue by 2028 here

News-ID: 2399346 • Views: 268

More Releases from Triton Market Research

The Global Veterinary Vaccines Market to Reap $12119.03 Million by 2028
A recent study by Triton Market Research titled 'Global Veterinary Vaccines Market,' covers the Global Analysis and Forecasts by Product Type (Conjugate Vaccines, Recombinant Vaccines, DNA Vaccines, Toxoid Vaccines, Attenuated Vaccines, Inactivated Vaccines, Subunit Vaccines), by Disease Type (Bovine Disease, Aquaculture Disease, Porcine Disease, Poultry Disease, Canine Disease, Other Disease Types), by Animal Type (Livestock Animals [Sheep, Cattle, Poultry, Pigs, Other Livestock Animals], Companion Animals [Equine, Feline, Canine], Aquaculture), and
Global Telecom API Market Estimated to Gain revenue at $615.99 Million by 2028
A recent study by Triton Market Research titled 'Global Telecom API Market' consists of the Global Analysis and Forecasts by End-user (Long-Tail Developer, Internal Telecom Developer, Partner Developer, Enterprise Developer), Deployment Mode (Multi-Cloud, Hybrid, Other Deployment Modes), Service (Subscriber Identity Management & SSO API, Location & Map API, IVR/ Voice Store & Voice Control API, Messaging API, Payment API, WebRTC API, Other Services), and by Geography (Middle East and Africa,
The Global Medical Collagen Market to Gain $853.40 Million in Revenue by 2028
A recent study by Triton Market Research titled 'Global Medical Collagen Market' includes Global Analysis and Forecasts by Application (Cartilage Repair, Vascular Grafts, Wound Care, Tissue Scaffolds, Bone Grafts, Haemostats, Diagnostics, Other Applications), Source (Bovine, Porcine, Other Sources), Product (Native Collagen, Gelatine, Hydrolyzed Collagen, Other Products), and Regional Outlook (Latin America, North America, Europe, Asia-Pacific, and the Middle East and Africa). Request Free Sample of the Global Medical Collagen Market
Global Marketing Automation Software Market to Garner $8625.39 Million in Revenu …
A recent study by Triton Market Research titled 'Global Marketing Automation Software Market' entails the Global Analysis and Forecasts by End-users (Large Enterprises, SMEs), Application (Inbound Marketing, Email Marketing, Lead Scoring and Lead Nurturing, Reporting and Analytics, Social Media Marketing, Campaign Management, Mobile Application, Other Applications), Deployment (On-premise, Cloud), Vertical (Healthcare, BFSI, Manufacturing, and Distribution, Advertising and Design, Retail, Telecommunication and Information Technology, Others), and Geography (Asia-Pacific, North America, Middle

All 5 Releases


More Releases for Robot

Global Humanoid Robot Market
Global Humanoid Robot Market was valued US$ 624.2 Mn in 2017 and is estimated to reach US$ 5, 455 Mn by 2026 at a CAGR of about 52.32% during a forecast period. Global humanoid robot market is segmented into the component, motion type, application, and region. On the basis of the component, a market is divided into hardware and software. based on motion type, the market is segmented into biped, wheel
Global Robot Vacuums Market Research
Global Robot Vacuums Market Research in addition, rising interest for automated vacuum cleaners can be ascribed to expanding center around accommodation and the travel industry areas, particularly in creating nations, combined with expanding tendency towards tidiness and cleanliness in the private segment inferable from less time accessibility for family unit errands because of busier ways of life Get sample copy of report: https://www.marketdensity.com/contact?ref=Sample&reportid=6220 Table of Contents 1 Robot Vacuums Market Overview 1.1 Product Overview
Healthcare Assistive Robot Market Serpentine Study 2025
Global Healthcare Assistive Robot Market: Overview Robots tend to make work easier and give accurate results, thus making work more efficient and to the time it is required to be completed. Due its error-free characteristic, many researches have been conducted across the globe to take the technology further and employ in various sectors. In the healthcare sector, robots have proven to be very useful as they help in overlooking several operations
India’s first banking robot
Taking a cue from a Japanese bank – Bank of Tokyo-Mitsubishi UFJ – Indian banks plan to use robots with artificial intelligence. Kumbakonam-based City Union Bank launched India’s first robot on-site assistant, known as Lakshmi. The robot imitates human action, thereby reducing the response time to customers by up to 60% and improving accuracy tremendously. The bank became the first to deploy robots that can perform repetitive, high volume and time-consuming
YuMi® - the future of human-robot collaboration
London/Zurich, September 9, 2014 – ABB has unveiled the world’s first truly collaborative robot: YuMi®. YuMi is a human-friendly dual arm robot designed for a new era of automation, for example in small parts assembly, where people and robots work hand-in-hand on the same tasks. YuMi is short for ‘you and me,’ working together. YuMi has been developed to meet the flexible and agile production needs of the consumer electronics
HALCON flies with NASA-Robot into Space
At the end of November 2010, the first humanoid robot astronaut flied into space, the Robonaut 2 (R2) which was jointly developed by the NASA and General Motors. R2 takes its visual decisions with the imaging software HALCON by MVTec (Munich, Germany). The Discovery will be launched as mission STS-133 to its very last space flight. Destination of this shuttle mission is the international space station ISS. On board of the