LONDON–(BUSINESS WIRE)–Technavio’s latest market research report on the global
industrial robots market in the automotive industry provides an
analysis of the most important trends expected to impact the market
outlook from 2018-2022. Technavio
defines an emerging trend as a factor that has the potential to
significantly impact the market and contribute to its growth or decline.
According to Technavio market research analysts, the global industrial
robots market in the automotive industry will grow at a CAGR of
approximately 7% during the forecast period. The increasing
adoption of lean and flexible manufacturing is a major factor driving
the market’s growth.
The automotive industry is highly competitive, and the vendors in the
market compete on reliability, quality, cost, and delivery. In the
present scenario, when the demand for vehicles is increasing
substantially, the competition among players is intense, thereby making
cost reduction a major concern for them. To attain this, industry
players are concentrating on producing required products at first
attempt and eliminating additional cost by adopting lean manufacturing.
Lean manufacturing refers to the method, which reduces waste generated
during the manufacturing process without compromising on productivity.
It also considers several other wastes such as waste generated through
overburden or unevenness of workloads.
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In this report, Technavio highlights the emergence of IoT and industry
4.0 as a key trend driving the global industrial
robots market in the automotive industry:
IoT and Industry 4.0
Internet of Things (IoT) is an interconnection of several devices be it
mechanical or digital, which allow data to be transferred from
end-to-end without human interventions. At present, IoT has already been
commercialized in various applications, thereby initiating an industrial
revolution with the advent of Industry 4.0. Also, IoT is further
simplifying the connectivity techniques using internet protocol version
6 (IPv6) based protocol addressing systems.
The interoperability and data readability issues have found better
solutions with the advent of IoT. This technology has revolutionized the
world of robotics by streamlining the working of robots with smart
factory. A network of robots can connect to the cloud and provide
insightful data from mass data. A major application of such technology
interpretation is in asset management and maintenance to optimize
equipment and process efficiency, reduce the cost, and mitigate the risk
“Industry 4.0 and IoT have been gaining traction in automotive
manufacturing facilities. The support extended by governments to
modernize manufacturing facilities has encouraged OEMs in Germany,
Italy, France, the US, and China to enhance productivity. It is expected
that the adoption of IoT and Industry 4.0 in the manufacturing plants
will increase the demand for industrial robots in the automotive
industry,” says a senior analyst at Technavio for research on robotics.
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Global industrial robots market in the
automotive industry – segmentation analysis
This market research report segments the global
industrial robots market in the automotive industry into the
following applications (material handling, assembly line, welding, and
painting and dispensing) and key regions (the Americas, APAC, and EMEA).
In 2017, the global industrial robots market in the automotive industry
was dominated by the material handling application, and it is expected
to retain its position during the forecast period. Material handling is
a major application within automotive manufacturing set up because
handling bulky and complex parts is cumbersome when it must be carried
APAC was the leading region for the global industrial robots market in
the automotive industry in 2017, accounting for a market share of close
to 61%. This segment is expected to project significant growth and
dominate the global market throughout the forecast period.
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