Industrial robots in automotive industry: Key market research findings
- Development of collaborative robots
- Reduction in operational expenses of automobiles
Technavio has released a new market research report on the global industrial robotics market in automotive industry, which is expected to grow at a CAGR of more than 6% between 2016 and 2020. The ability of industrial robots to assist in high payload lifting during the manufacture of automobiles is a significant factor that fosters its adoption during the predicted period. Growing need for increased productivity, reduction of industrial accidents, employee safety, and improved work environments will necessitate the adoption of industrial robots in the automotive industry during the forecast period.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Vendors are developing collaborative robots that can work with humans simultaneously. For instance, FANUC’s CR-35iA is equipped with integrated vision technology that automatically stops the robot when in contact with human operators, ensuring a safe working environment. Also, these robots can lift heavy workloads,” says Bharath Kanniappan, Lead Analyst, Industrial Automation, Technavio Research.
The growing need to reduce the operational cost in an automobile production plant is the key driver for the growth of the market. The reduction in operational cost can be achieved by reducing the errors in the production workflow and raw material wastage, and improvement in operational flexibility. The implementation of robotic solutions in the automotive industry will prove to be an efficient way of cutting down the operational cost, which in turn will enhance the profitability of the OEMs.
The key vendors dominating the global industrial robotics market in automotive industry are ABB, Fanuc, KUKA, and Yaskawa. This market is highly competitive due to the presence of many well-established large- and small-scale vendors. The level of competition in the market has intensified due to the advent of new and innovative products like collaborative robots. In this market, several vendors are also developing innovative technologies using cloud and other IoT services. The local vendors in this market are striving to remain competitive by innovating new technologies, but the established international vendors dominate over them in terms of product quality, durability, reliability, and technological innovations.
A more detailed analysis is available in the Technavio report, Global Industrial Robotics Market in Automotive Industry 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
