Global Industrial Robots Market in the Automotive Industry 2018-2022
About Industrial Robots in the Automotive Industry
The global industrial robots market in the automotive industry includes robots adopted for manufacturing automotive parts and automobiles.
Technavio’s analysts forecast the global industrial robots market in the automotive industry to grow at a CAGR of 7.07% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global industrial robots market in the automotive industry for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Industrial Robots Market in the Automotive Industry 2018-2022
Technavio recognizes the following companies as the key players in the global industrial robots market in the automotive industry: ABB, FANUC, Kawasaki Heavy Industries, Midea Group, Universal Robots, and Yaskawa Electric.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is IoT and industry 4.0. With the advent of Industry 4.0 industrial revolution and the Internet of Things (IoT), industrial robotics companies are incorporating the robotic welding technology for various purposes including asset management, equipment, and process efficiency optimization, and cost reduction.”
According to the report, one driver in the market is increasing adoption of lean and flexible manufacturing. With the players of the automotive industry continuously competing on parameters including delivery, cost, quality, and reliability, the reduction in the cost of manufacturing vehicles becomes their primary concern.
Further, the report states that one challenge in the market is high cost associated with robots. Industrial robots have high-tech hardware components such as smart sensors, controllers, motor, and software. These components increase their associated cost considerably. "
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