With a resurgent automotive industry looking to expand further, especially in the APAC region, the Global Mobile Robotics market is poised to grow at a CAGR of 12.63 percent from 2015-2019.
Overcoming the Market Slowdown
The automotive industry which is one of the major end-users of mobile robotics is expected to increase its investment during the forecast period.
In developed countries, automotive OEMs which mainly consume mobile robotics had struggled to achieve growth. But despite the slowdown, in the past few years major automotive players such as Ford and GM have been doing well lately because of government bailouts.
As a result, these companies are increasing their capital spending and expanding their product offerings. For instance, Audi and Suzuki are expected to start production at their new plant in Mexico and India, respectively, by 2016.
This is a promising step for the Global Mobile Robotics market.
Making New Inroads
The Mobile Robotics market is finding growing relevance in serving an aging population in countries such as Japan and China. The demand for mobile robots is visible for performing tasks such as cleaning, gardening, security, and surveillance.
However, now these robots are gaining popularity among industrial and commercial applications too. Mobile robotics is being widely used in applications ranging from the aerospace and defense industry to automotive, warehousing, healthcare, energy, agriculture and mining.
Increased Focus on R&D
Bringing their insights on market trends, TechNavio analysts observe:
The growing use of mobile robots in industrial and commercial applications is forcing vendors to invest more in R&D so that they can fulfill the requirements of end-users.
Also, with superior quality and highly customized products being rolled out in the market the competition is bound to swell manifold in the coming years.
What’s Driving Vendors to the APAC Region?
The Global Mobile Robotics market is dominated by the APAC region followed by the EMEA region and the Americas.
The APAC region has become one of the major markets for mobile robots and accounted for over a third of the overall market in 2014. Asian countries such as China and India are the major markets and low-cost manufacturing hubs.
This factor drives major vendors to invest more in these countries to set up manufacturing units. Demand from Japan and South Korea will also help in keeping up the demand for mobile robots in the APAC region.
Higher growth rates, rapid industrialization, and high demand will encourage all manufacturers to focus on the APAC region.
