Automotive Robotics Market (Mumbai)

Automotive Robotics Market

Automotive Robotics MarketAutomotive Robotics Market size is valued at US 6 Bn in 2017 and expected to grow at a CAGR of 10% in the forecasting period. Rising advancements in multi-functional robotics results in fast production cycles. This technology substitutes the human labor for carrying out hazardous and repetitive tasks performed in the workspace. It is widely deployed in the automotive industry to maintain the consistency and high precision in assembling work for better productivity. High installation cost will hamper the overall automotive robotics market revenue over the forecast timeline. Uncertainty related to stored data from the product will restrict the industry as information contained in databases can lead to unlawful access or misuse. Moreover rising unemployment due to automation will act as a restraint to the automotive robotics market size. The Automotive Robotics market is segmented based on product component application and geography. By product segment the market is segmented into articulated cartesian SCARA parallel and cylindrical. By component the market is segmented as hardware and software & services. Software & services dominates the market with over 50% share and will exhibit rapid growth over the forecast timeframe. Developments such as cloud-based platform will propel the industry share over the forecast time frame. Some of the key market players provide an open software platform for enabling the advanced analytics and learning capabilities CNCs sensors and peripheral devices used in the systems. Software loaded into the computing hardware enables data access from PLC machine tool device and apply analytics in real time to take immediate action.Proper running of software eliminates risk of production downtime. These advancements will spur the automotive robotics market demand by 2026. By applications the market is segmented as welding assembly processing handling operations and paint & dispense. Geographically the Automotive Robotics market has been segmented into North America Europe Asia Pacific Middle East & Africa and Latin America. Asia-Pacific is expected to be largest market for Automotive Robotics during the forecast period driven by China market. China automotive robotics market has increased drastically in past two to three years owing to increasing Automobile-4.0-Robotics program covering hydronics packaging machinery welding process equipment SPS IPC drives and fluid power. Key player across the Automotive Robotics industry are KUKA ABB FANUC Rockwell Kawasaki Heavy Industries and Yaskawa. Few SMEs are underpenetrated as they don t observe any value in installing the products unless they get repeat orders and volume business. Moreover they lack skilled resources and capital for the product operation. They can be persuaded to install the product through cost saving demonstrations in near future. Major players such as KUKA FANUC are immensely concentrating on their research activities to develop innovative products and eliminate its technological glitches. Moreover the players are involved in strategic partnerships with the automobile vendors to provide product software upgradation and services by maintaining long term relationship. Automotive Robotics Market ScopeAutomotive Robotics Market By Product Articulated Cartesian SCARA Parallel Cylindrical Automotive Robotics Market By Component Hardware o Controllers o Arms o End Effector o Drive o Sensor Software & Services Automotive Robotics Market By Application Welding Assembly Processing Handling Operations Paint & Dispense Automotive Robotics Market By Geography North America Europe Asia-Pacific Middle East & Africa Latin America Key Players operating in the Automotive Robotics Market KUKA ABB FANUC Rockwell Kawasaki Heavy Industries Yaskawa Comau Denso Wave Omron Corporation Universal Robots MARKET RESEARCH COMPANY