LONDON--(BUSINESS WIRE)--The global automation and robotics market in the automotive industry is expected to post a CAGR of close to 8% over the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the evolving strategic focus of automotive players. Automotive companies are streamlining their production processes to become more lean and flexible in their assembly line operations. They are integrating multiple variant automobile production processes using a single assembly line and adopting automation and robotics to achieve their strategic goals.
This market research report on the global automation and robotics market in the automotive industry also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the increasing traction in smart manufacturing as one of the key emerging trends in the global automation and robotics market in the automotive industry:
Global automation and robotics market in the automotive industry: Smart manufacturing gaining traction
It is expected that more players in the automotive industry will opt for smart manufacturing to capitalize on low-cost sensing, human-machine interaction (HMI), computing and analytical capabilities, and connectivity. End-users are opting for smart manufacturing to achieve strategic goals regarding optimization, predictive maintenance, and real-time inventory optimization. There is also considerable focus by automotive players to equip their plants with IoT-integrated microprocessors, microcontrollers, sensors, and switches.
“Smart manufacturing will also drive the adoption of cloud-based solutions such as cloud-based MES. This can offer advantages such as no requirement for hardware retrofits, and software upgrades, and elimination of costs associated with IT infrastructure,” says a senior analyst at Technavio for research on automation.
Global automation and robotics market in the automotive industry: Segmentation analysis
This market research report segments the global automation and robotics market in the automotive industry by application (material handling, assembly line, welding, surface treatment and finishing and others), by product (automation and robotics), and key regions (the Americas, APAC, and EMEA).
The global automation and robotics market in the automotive industry is highly concentrated in APAC, which dominated the market with a market share of close to 54% in 2017. Countries such as China, Japan, South Korea, and India are the major markets in APAC. The market share of APAC is expected to increase further over the forecast period, while the other two regions, namely EMEA and the Americas will see a decline in their market share.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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