1 year ago

Automotive Robotics Market to cross USD 5.96 billion by 2024

Get More Information @ North America automotive robotics market was over USD 1 billion in 2016 owing to automation, modernization, and robotization as the primary investments for OEMs.

Automotive Robotics Market to cross USD 5.96 billion by

Automotive Robotics Market– Global Industry Analysis Report, Share, Growth, Price Trends and Forecast, 2024: Global Market Insights Inc. An outlook on Automotive Robotics Market growth is presented in this latest research report that reviews industry growth drivers, trends, regional factors & companies as well as provides forecasts for next few years. Automotive Robotics Market size is projected to exceed USD 5.96 billion by 2024; according to a new research report by Global Market Insights, Inc. Growth in automobile industry is creating positive impact over the implementation of advanced products to meet the customer demand. Improved focus of vendors on automation solutions to eliminate risk factors arising from labor will spur the demand for automotive robotics. Additionally, extensive usage of robotics will lead to reduction of labor costs and thereby increase OEMs profitability. Necessity for better productivity and proper functioning of assembly lines in vehicle production has enhanced industry growth. Increasing technological advancements in raw materials used for robot making will escalate the product demand. Increasing demand from applications such as welding, robotic processing, painting & dispense, and handling operations will augment the industry growth rate. Further, benefits offered including light weight, easy deployment, durable and space saving is predicted to increase the product penetration. Technical support will facilitate the product as an alternative for skilled labors. Growth in R&D activities will support the industry growth. It has unlocked multiple avenues for automakers to offer its customers with increased versatility, flexibility, and reliability. Reduced cost, low energy consumption, and enhanced product quality owing to usage of improved quality sensors, electronics, and software programming will propel the industry demand. Increasing unemployment due to consistent demand for automated solutions will hamper the automotive robotics industry growth rate. SCARA robots used in the automobile industry will cross over 33 thousand units by 2024. This can be credited to increasing usage in applications such as high-speed assembly and handling operations. Rising demand for reduced bottlenecks and optimized productivity will boost the product penetration. 1 | P a g e

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