Automotive Robotics Market to be Worth $13.6B by 2025
August 2, 2018—The global Automotive Robotics Market size is expected to value at $13.6 billion by 2025. The market is subject to witness a substantial growth due to the rising implementation of automation and robotics in the automotive sector.
Rising adoption of automation and robotics in manufacturing processes has changed overall outlook of the automotive industry since last few decades. Additionally, rise in initiatives taken by the regional governments to promote use of automation in manufacturing processes are likely to boost the sales of automotive robots.
Such initiatives by regional government include tax exemptions and tax cut, thus reducing overall manufacturing cost and elevating the manufacturing opportunities for industry players across the globe. Such factors are anticipated to drive the growth of the market in upcoming years.
Globally, the automotive robotics market is predicted to grow at CAGR of 13.8% in forecast period, providing numerous opportunity for market players to invest for research and development in the market. Articulated robotics is one of the fastest growing segment in automotive robotics industry with highest revenue generation in recent years.
Articulated robots are primarily used in application involving large-scale assembly line with six axes movement.
Some of these application include welding, material handling, dispensing and material separation. These robots are specifically designed to perform mundane tasks in a restricted time frame. Increasing number of application of automotive robots in industrial manufacturing processes is a key factor responsible for the growth of the automotive robotics industry.