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Global Automotive Robotics Market to reach $5.96 billion by 2024

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Software & services segment in the automotive robotics market is expected to grow and hold at over 27% market share by 2024.

— The Automotive Robotics Market is set to grow from its current market value of more than $4 billion to over $5.96 billion by 2024; as reported in the latest study by Global Market Insights, Inc.

Having garnered the reputation of being highly technology-driven, automotive robotics industry thrives on the product innovations brought forth by leading business players. A recent instance citing the validity of the aforementioned declaration is Rimac’s collaboration with Dassault Systèmes. Elaborating further, the September of 2017 saw Rimac Automobili, a key manufacturer of high performance electric vehicles, battery systems, and drivetrains, join forces with Dassault Systèmes, a software firm based in France, to acquire the product lifecycle management digital platform from the latter to scale up its business growth.

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Pertaining to the stiff competition prevalent in the automotive robotics market space, companies have been devising a number of business tactics to consolidate their position. In September 2017, for example, Avnet Incorporation, a major participant across information technology and services industry, acquired Dragon innovation, a major producer of consumer electronics products. The acquisition is expected to assist both the firms add to their existing product line and expand their presence in automotive robotics market.

The month of September has also witnessed Technion – an Israeli tech institute, Korean Advanced Institute of Science and Technology, and Hyundai Motor Group forming an alliance to jointly complete the projects on artificial intelligence, autonomous driving, and cyber security. The collaboration has been touted to help the emerging automotive firms and startups in Israel to launch their products with Hyundai’s vehicle product line. Vice-versa, the initiative is expected to aid Hyundai Motors establish itself as a leader in automotive robotics market, having experimented with next generation of automotive technologies equipped with artificial intelligence and robotics. The alliance signifies a paradigm shift toward the fourth industrial revolution and new vehicle technology, thereby pushing automotive robotics industry trends.

Robotics has established itself as a principal technology across major end-use domains in the developed geographies such as UK, Germany, and Italy. The surging requirement to achieve time consistency and a higher level of production has led to escalating demand for robotic body assemblies in the country. The deployment of these assemblies to improve the proficiency of the supply chain activities across the automotive sector is likely to impel UK automotive robotics industry expansion.

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Germany has a powerful base of automakers, on the grounds of which it has been forecast that robotic applications would be deployed heavily across the automotive sector in the region. Subject to the extensive implementation of robotics, Germany automotive robotics industry is likely to gain a strong ground in the ensuing years. The expansion of this business space across Germany, UK, and Italy is certain to boost Europe automotive robotics market, which contributed nearly 25% toward the overall industry share in 2016.

A currently compiled market study claims that automotive robotics industry revenue is anticipated to surpass USD 5.96 billion by 2024. Considering the notable contributions made by the automotive giants such as Rockwell Automation, Omron Corporation, The Yaskawa Electric Corporation, and ABB Group, it is no longer a supposition that automotive robotics market will indeed experience a commendable expansion in the years ahead.

Browse key industry insights spread across 400 pages with 629 market data tables & 11 figures & charts from the report, “Automotive Robotics Market” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/automotive-robotics-market

Glimpse of Table of Content (ToC)

Chapter 4. Automotive robotics Market, By Product

4.1. Global automotive robotics market share by product, 2016 & 2024
4.2. Articulated
4.2.1. Global market estimates and forecasts, 2013 – 2024
4.2.2. Market estimates and forecast, by region, 2013 – 2024
4.3. Cartesian
4.3.1. Global market estimates and forecasts, 2013 – 2024
4.3.2. Market estimates and forecast, by region, 2013 – 2024
4.4. SCARA
4.4.1. Global market estimates and forecasts, 2013 – 2024
4.4.2. Market estimates and forecast, by region, 2013 – 2024
4.5. Parallel
4.5.1. Global market estimates and forecasts, 2013 – 2024
4.5.2. Market estimates and forecast, by region, 2013 – 2024
4.6. Cylindrical
4.6.1. Global market estimates and forecasts, 2013 – 2024
4.6.2. Market estimates and forecast, by region, 2013 – 2024

Chapter 5. Automotive Robotics Market, By Component

5.1. Global automotive robotics market share by component, 2016 & 2024
5.2. Hardware
5.2.1. Global market estimates and forecasts, 2013 – 2024
5.2.2. Market estimates and forecast, by region, 2013 – 2024
5.2.3. Controllers
5.2.3.1. Global market estimates and forecasts, 2013 – 2024
5.2.3.2. Market estimates and forecast, by region, 2013 – 2024
5.2.4. Robotics arm
5.2.4.1. Global market estimates and forecasts, 2013 – 2024
5.2.4.2. Market estimates and forecast, by region, 2013 – 2024
5.2.5. End effector
5.2.5.1. Global market estimates and forecasts, 2013 – 2024
5.2.5.2. Market estimates and forecast, by region, 2013 – 2024
5.2.6. Automotive robotic drive
5.2.6.1. Global market estimates and forecasts, 2013 – 2024
5.2.6.2. Market estimates and forecast, by region, 2013 – 2024
5.2.7. Automotive robotic sensor
5.2.7.1. Global market estimates and forecasts, 2013 – 2024
5.2.7.2. Market estimates and forecast, by region, 2013 – 2024
5.3. Software & services
5.3.1. Global market estimates and forecasts, 2013 – 2024
5.3.2. Market estimates and forecast, by region, 2013 – 2024

Browse Full TOC @ https://www.gminsights.com/toc/detail/automotive-robotics-market

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Info:
Name: Arun Hegde
Email: Send Email
Organization: Global Market Insights, Inc.
Address: 4 North Main Street
Phone: 3028467766
Website: https://www.gminsights.com/pressrelease/automotive-robotics-market

Source URL: https://marketersmedia.com/global-automotive-robotics-market-to-reach-596-billion-by-2024/88898921

Source: MarketersMedia

Release ID: 88898921

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