Automotive & Transportation Industry Automotive Robotics Market Overview

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Automotive Robotics Market Analysis, Size, Growth and Forecasts
to 2024 - Hexa Research
" The global automotive robotics market is expected
to grow at a CAGR exceeding 11% over the forecast
period (2016 - 2024). The industry is expected to
surpass USD 16 billion by 2024."
The global Automotive Robotics Market is predicted to grow at a CAGR surpassing 11% over the forecast
period (2016-2024). The market is likely to exceed USD 16 billion by 2024. Demand for trucks, cars, buses, and
off-road vehicles will drive the industry. Growth in automotive manufacturing will increase the demand for
automotive robots. Investment in new production capacity of emerging markets could add to market growth.
Modernization in automobile manufacturing can stand to benefit the market.
Improvements in technology, production capacity, and sustainability are expected to augment demand.
Investments to enhance production capacity in fledgling markets will also play a key role. Greater need for
precision & quality control stimulates the demand for automotive robotics. The lack of skilled labor and rising
wages are the other market drivers. However, high capital investment, uncertain return on investment, and lack
of skilled labor for mechanical operations can inhibit industry growth.
The global automotive robotics market is split into applications, products, and regions. Applications include
automated guided vehicles (AGVs), assembling, painting, welding, cutting, and dispensing, among others.
Robots are deployed to find the minutest manufacturing differences in handling activities. The robot -to-robot
work ensures quality and efficiency of the product.
Browse Details of Report @ https://www.hexaresearch.com/research-report/automotive-robotics-market
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