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The Global Automotive Robotics Market at CAGR of 11.63% by 2028

12-07-2022 11:50 AM CET | IT, New Media & Software

Press release from: Triton Market Research

Automotive Robotics Market

Automotive Robotics Market

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

It further discusses the Market Summary, Industry Outlook, Impact of COVID-19, Key Insights, Porter's Five Forces Model, Market Attractiveness Index, Vendor Scorecard, Key Impact Analysis, Key Market Strategies, Drivers, Challenges, Opportunities, Competitive Landscape, Research Methodology & Scope, Global Market Size, Forecasts & Analysis (2021-2028).

Triton's report states that the global automotive robotics market would expand by revenue with 11.63% of CAGR during the evaluated period 2021-2028.

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According to estimates from the International Labor Organization (ILO), nearly 2.3 million workers around the globe fall victim to work-related accidents or diseases each year. Employers should therefore work towards ensuring the safety of their workforce. One of the ways for this involves including more collaborative robots into the technology mix.

Autonomous mobile robots (AMRs) can perform low-value tasks, allowing their human counterparts to take up more complex, rewarding work, in cleaner, safer, and more productive work environments. Thus, the need for more safety features at the workplace is one of the key drivers for the development of this industry.

On the flip side, the lack of trained & skilled personnel and the soaring prices of industrial robots are creating several hurdles in this process of market development.

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The Asia-Pacific holds the largest share of the global automotive robotics market, and is expected to continue its stronghold until 2028. China and India are the principal countries in this region in terms of development. Also, several industries, such as automotive, aviation, and electronics, can be seen expanding in these countries. This is generating the demand for automotive robotics, making the APAC an emerging market.

However, even though there are strong factors driving this market, several economic activities and industrial manufacturing were affected significantly in this region, due to the COVID-19 outbreak in 2020. But now, with the improving situation, the market can be seen picking pace.

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

Entering this market poses several challenges owing to the need for high investments, upgrading to the latest technology, and also setting up a manufacturing capacity. The existing big players are a huge competition for the aspiring ones, as they have an already established brand image prevalent in the current market situation. On the other hand, these prominent players generally try to expand their global footprint by employing different strategies, such as collaborations and distribution agreements with different market players.

Triton Market Research
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London E16 2EQ
Phone: +44 7441 911839

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.

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