The “Global Automotive Robotics Market, Size, Forecast 2024-2030, Industry Trends, Share, Growth, Insight, Impact of Inflation, Company Analysis” report has been added to ResearchAndMarkets.com’s offering.
The Global Automotive Robotics Market size is projected to reach US$ 16.55 Billion by 2030 from US$ 8.04 Billion in 2023, growing at a CAGR of 10.86% during 2024-2030
Robots have become an increasingly useful in the automotive industry. Engineers are finding new uses for them on account that they’re specific and efficient. The automobile industry is one of the global maximum automatic supply chains, and robots play a crucial part. Currently, 30% of overall investments within the industry sector are allocated towards automotive robotics. This makes the automotive industry the crucial area in incorporating commercial robots worldwide.
Market increase is boosted by rapid technological progressions, which involve incorporating the Internet of Things (IoT), cloud solutions, and Autonomous Intelligent Vehicles (AIVs) to transfer components and materials from one area to another other securely. To meet the 2030 objectives, government worldwide need to increase low- or zero-emission vehicles. This will require revolutionary technologies like ‘smart sensors’ cognitive and collaborative robots. Automation of new generations of motors may be vital, and it will ought to be speedy and massive.
In recent decades, reducing operating expenses were achieved via growing operational flexibility and reducing raw material wastage and inefficiencies in the workflow, ensuing in accelerated profitability for manufacturers. Numerous substantial, small-sized, well established competitors in the robotics sector make the global automotive robotics market competitive.
Due to the introduction of technologically innovative and new products inclusive of collaborative robots, the degree of competition on this marketplace has expanded in last few years. In the year May 2015, ‘Made in China 2025’ a development approach announced by the Government of China. Its objectives to enhance China’s worldwide competitiveness and make it a key technological force by 2025 via innovation and restructuring of the production segment.
Industry 4.0 is the modern-day segment of the economic revolution, emphasizing automation, real-time records, interconnectivity, and machine learning. It entails using smart virtual technology to improve manufacturing and supply chain control. Robotics, AI, data analytics, and cloud computing are quintessential to Industry 4.0, making commercial robots more dependable and efficient. The goal is maximum efficiency with zero downtime, which creates increase opportunities inside the automotive robotics market.