According to the latest report \”Automotive Robotics Market by Product (Articulated, Cartesian, SCARA, Parallel, Cylindrical), Component (Hardware [Controllers, Arms, End Effector, Drive, And Sensor], Software & Services), Application (Welding, Assembly, Processing, Handling Operations, Paint & Dispense), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2024\”, by Global Market Insights, Inc., the market valuation of automotive robots will exceed $5.9 billion by 2024
The software & services segment in the automotive robotics market is poised to surpass the USD 1 billion-mark by 2024. Progress in software programming has resulted in increased proficiency in performance. Moreover, embedding advanced software in automotive robots is supporting real-time decision-making in production processes, thereby encouraging adoption.
By 2024, the need for SCARA robots in the automobile sector is set to reach 33 thousand units. This growing demand can be attributed to increasing applications in handling operations and high-speed assembly. Improved quality sensors used in SCARA robots result in low energy consumption and enhanced product handling. The escalating need to reduce bottlenecks and achieve optimum productivity is likely to boost the market share.
The parallel robot segment will garner momentous gains of more than 4% during the forecast period. The key factor fueling the demand of parallel robots is a growing requirement for micro-manufacturing automation within the automotive industry. The product offerings include high speed, flexible fixturing and stiffness, which are boosting product adoption, hence, triggering the automotive robotics market growth.
Robotic controllers are among the commonly used hardware in automotive manufacturing processes and are likely to exhibit a growth rate of 4% through 2024. Robotic controllers are primarily used in industries where repetitive tasks are performed. Space-saving ability, easy installation, and lightweight model options are some of the key features accelerating the market revenue.
Asia-Pacific automotive robotics market was worth approximately USD 2 billion in 2016. The region is at the forefront of motion control technology, which provides unprecedented leverage for industry growth. Moreover, increasing sales of vehicles, along with the presence of a significant number of vehicle manufacturing facilities across the region, is aiding the industry growth.
From Our Editorial Team
Our Editorial team comprises of over 15 highly motivated bunch of individuals, who work tirelessly to get the most sought after curated content for our subscribers.
