Global Steering Robot Market 2018-2022
About Steering Robot
The global steering robot market is closely related to the global automotive testing equipment market. As the players in the global automotive industry are increasingly investing in automotive R&D, there has been an increase in the adoption of equipment and systems to assess vehicle dynamics with minimal human intervention. The steering robot market is highly concentrated. The vendors in the market are competing effectively based on factors such as the technology, research and developmental activities, brand, and labor. Vendors in the programmable steering controllers market are also differentiating their products based on factors such as the quality, innovation, price, and regulatory compliance.
Technavio’s analysts forecast the global steering robot market to grow at a CAGR of 8.10% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global steering robot market for 2018-2022. To calculate the market size, the report considers the revenue generated from the sales of steering robot.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Steering Robot Market 2018-2022
Technavio recognizes the following companies as the key players in the global steering robot market: AB Dynamics, RMS Dynamics Test Systems, Stahle, and VEHICO.
Other Prominent Vendors in the market are: HI-TEC and Tecpond.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Adoption of data analytics to improve customer experience. As the market is gaining traction, the key players in the market are devising strategies to provide a more holistic customer experience to the end-users adopting steering robots. Tracking real-time data can be helpful in providing preventive maintenance and reducing response times. Data analytics can also ensure that issues are addressed before they turn critical. If companies capitalize on the vast amount of data available and channelize the opportunities driven by customer data analytics, it is expected that they will see a surge in the revenue and customer loyalty. With the increased penetration of smart devices, vendors are giving their customers critical information about the robots on these devices.”
According to the report, one of the major drivers for this market is growing focus on the importance of vehicular safety regulations. Several regulatory agencies are devising guidelines to ensure the development of vehicles with advanced security technology. This resulted in an increased adoption of autonomous emergency braking (AEB) system that addresses reversing, cross-junction, and head-on accidents. The European commission is emphasizing on consumer testing by introducing a revision of general safety regulation 661/2009. This in turn, is driving the employment of differential steering robots.
AB Dynamics, RMS Dynamics Test Systems, Stahle, VEHICO, HI-TEC and Tecpond.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook