The Global Automotive Robotics Market Assessed to Acquire $12665.25 Million in Revenue 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 - https://www.tritonmarketresearch.com/reports/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.