The Global Automotive Robotics Market Projected to Surge at $12665.25 Million by 2028

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

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Triton's research report signifies that the global automotive robotics market is likely to exhibit growth at a CAGR of 11.63% during the considered years 2021-2028. It is predicted to gain revenue worth $12655.25 million by 2028.

The advancements in technology and the increasing adoption of concepts like the Internet of Things have boosted the use of automation in several industries. Also, the growing penetration of smart devices and the use of cloud & wireless technologies are expected to change the face of robots and their mode of operation in the near future. These factors are positively influencing the growth of the automotive robots market.

On the other hand, robotics professionals, in both developed as well as developing nations, are expected to possess a very wide skill set. However, globally, there is a shortage of professionals who have the necessary skills to work in this field, and this skill gap has proven a serious barrier in the process of robotics development. This is significantly restraining the studied market growth.

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

The Asia-Pacific is expected to showcase the fastest growth in the global market over the projected period. The automotive robotics market here is driven by the rise in vehicle production.

This is followed by the increasing need for minimizing collisions in the automotive industry, along with the huge need for renovation of the vehicle-producing sector. In addition, the low robot density in China's automotive industry and the need for productivity optimization are key opportunities for this market to grow further.
Fanuc Corporation, Yamaha Robotics, Omron Corporation, Kawasaki Robotics Inc, Kuka AG, Yaskawa Electric Corporation, Seiko Epson Corporation, Nachi Fujikoshi Corporation, Harmonic Drive AG, ABB Ltd, Denso Wave Incorporated, Honda Motor Company, Comau SPA, Universal Robots AS, and Durr AG are reputed companies engaged in the automotive robotics market.

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Question & Answer: Automotive Robotics Market

Question 1: What factors are positively influencing the growth of the automotive robots market?
Answer: The advancements in technology and the increasing adoption of concepts like the Internet of Things have boosted the use of automation in several industries. Also, the growing penetration of smart devices and the use of cloud & wireless technologies are expected to change the face of robots and their mode of operation in the near future. These factors are positively influencing the growth of the automotive robots market.

Question 2: What is significantly restraining the studied market growth?
Answer: Robotics professionals, in both developed as well as developing nations, are expected to possess a very wide skill set. However, globally, there is a shortage of professionals who have the necessary skills to work in this field, and this skill gap has proven a serious barrier in the process of robotics development. This is significantly restraining the studied market growth.

Question 3: Which region is expected to showcase the fastest growth in the global market?
Answer: The Asia-Pacific is expected to showcase the fastest growth in the global market over the projected period. The automotive robotics market here is driven by the rise in vehicle production.

This is followed by the increasing need for minimizing collisions in the automotive industry, along with the huge need for renovation of the vehicle-producing sector. In addition, the low robot density in China's automotive industry and the need for productivity optimization are key opportunities for this market to grow further.

Question 4: Which are the reputed companies engaged in the automotive robotics market?
Answer: Fanuc Corporation, Yamaha Robotics, Omron Corporation, Kawasaki Robotics Inc, Kuka AG, Yaskawa Electric Corporation, Seiko Epson Corporation, Nachi Fujikoshi Corporation, Harmonic Drive AG, ABB Ltd, Denso Wave Incorporated, Honda Motor Company, Comau SPA, Universal Robots AS, and Durr AG are reputed companies engaged in the automotive robotics market.

Related Report:
Global SCARA Robots Market - https://www.tritonmarketresearch.com/reports/scara-robots-market

The global SCARA robots market is likely to propel at a CAGR of 9.51% during the period of 2019-2028, while garnering $18.58 billion worth of revenue by 2028.

There is a growing trend of automation in several industries that use production processes and systems. To promote the adoption of such advanced technologies, governments and private companies are investing in robotics research. The robotics industry is witnessing major investments for both research & development activities and product development. This, in turn, has led to an increase in the demand for SCARA robots.

Industrial robots help manufacturing companies develop accurate and reliable products without errors. They also aid in reducing product failure and wastage costs. These robots also aid companies in avoiding multiple direct and indirect expenses, such as product return costs, warranty costs, and downtime loss. Therefore, with industrial robots, and consequently, SCARA robots, manufacturing companies can reduce the overall costs of product manufacturing and maintenance expenditure.

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This release was published on openPR.