3 Pivotal Trends Likely To Escalate Automotive Robotics Market Share Over 2017-2024

The increasing number of collaborations by major automotive robotics companies for devising technological inputs for the enhancement of autonomous features and boosting production are poised to drive global automotive robotics market augmentation through the forthcoming years.

In a similar context, Einride, an autonomous electric truck manufacturer, has announced that the upcoming generation of its innovative ‘Pods’ will be deploying Nvidia’s Drive AGX Orin autonomous vehicle computing platform for the purpose of handling unmanned and high-speed operations. According to Einride’s CTO, Par Degerman, redundancy and diversity could be helpful in the achievement of functionality and safety in autonomous drive.

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The Einride Pod is the first-of-its-kind vehicle, allowing heavy freight operation that is 100 per cent electric and entirely unmanned, revolutionizing transport to be cost-effective and sustainable. The next-generation Pod takes AET (Autonomous Electric Truck) functionality to the next level, from AET 1 (fenced area operation) to AET 4 (highways), meeting a sizable portion of transport requirements at the global level.

Such initiatives are slated to boost the applicability of robotics in automotive industry through the projected period. The global automotive robotics market size is estimated to surpass USD 5.96 billion by 2024, cites a recent study by Global Market Insights, Inc.

The product demand is primarily driven by the escalating requirement for appropriate functioning and better productivity of assembly lines in vehicle production. The surging number of technological advancements in raw materials for robot making are further likely to spur automotive robotics industry demand over the estimated span.

Few major trends impelling automotive robotics market share comprise:

Rising number of research and development activities to boost automotive robotics market growth

An increase in the number of research and development activities has opened up multiple avenues for providing customers with increased reliability, versatility, and flexibility, in turn supporting the deployment of robots in the car manufacturing industry through the forthcoming years.

Additional advantages such as enhanced product quality, reduced cost, and low energy consumption on account of deployment of electronics, quality sensors, and software programming are expected to bolster automotive robotics industry outlook over the projected period.

Increasing demand for real time decision making to drive software and services segment growth

The rising enhancements in software programming have resulted in improving product quality, enabling real time decision making, in turn boosting software and services segment growth through the assessment period. The automotive robotics market from software and services segment is estimated to surpass USD 1 billion by 2024.

The surging adoption of robotic arms in sectors demanding the performance of repetitive tasks has been instrumental in driving automotive robot controllers market growth. Automotive robot controllers, the most commonly utilized form of hardware, are expected to exhibit a CAGR of more than 4 per cent through the anticipated span.

Escalating demand for SCARA robots and parallel robots to impel automotive robotics industry outlook

The applicability of SCARA robots in the car manufacturing industry is anticipated to cross more than 33 thousand units through 2024. Growing applicability in handling and high-speed assembly will foster the augmentation of automotive robotics market size through the ensuing years.

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Considering the multiple benefits such as stiffness, high speed, and flexible fixturing, micro-manufacturing automation is expected to stimulate automotive robotics product demand in the years to come. The automotive robotics market from parallel robots is likely to witness an appreciable CAGR of more than 4 per cent through 2024.

On the whole, extensive utilization of robotics in automotive industry is expected to cause a reduction in labor costs, augmenting the profitability of OEMs, further boosting industry growth through the forthcoming years. Key automotive robotics companies include ABB, Universal Robots, KUKA Robotics, Fanuc, Rockwell Automation, Yamaha, Kawasaki Heavy Industries, Omron Corporation, and others.

Table of Contents (ToC) of the report:

Chapter 1.   Methodology and Scope

1.1.   Methodology

1.1.1. Initial data exploration

1.1.2. Statistical model and forecast

1.1.3. Industry insights and validation

1.1.4. Scope, definition and forecast parameters

1.2.  Data Sources

1.2.1. Primary

1.2.2. Secondary

Chapter 2.   Executive Summary

2.1.    Automotive robotics industry 3600 synopsis, 2013 – 2024

2.1.1. Business trends

2.1.2. Product trends

2.1.3. Component trends

2.1.4. Application trends

2.1.5. Regional trends

Chapter 3.   Automotive robotics Industry Insights

3.1.  Industry segmentation

3.2.  Industry landscape, 2013 – 2024

3.3.  Industry ecosystem analysis

3.3.1. Raw material supplier

3.3.2. Manufacturers

3.3.3. Profit margin analysis

3.3.4. Distribution channel analysis

3.3.4.1.    B2B

3.3.4.2.    OEM

3.3.4.3.    Aftermarket

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/automotive-robotics-market

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