Automotive Robotics Market Trends

Growth Drivers

• Growing Automation to Reduce Human Error – the use of autonomous machines, known as cobots, continue venturing toward automakers and manufacturers. Many systems become easier and faster, yet versatile, and can be deployed safely alongside human operators. The rising automation in the automotive industry is expected to boost the market in the forecasted period. For instance, as per 2022 data, automating the intralogistics can reduce the manpower need by up to around 80% in a car factory.
• Rising Development in the Transport Infrastructure – which is projected to require nearly USD 2 trillion in transport infrastructure investments every year for its development by 2040.
• Increasing Sales Value of New Robot Installations – which in the automotive sector hiked in 2018 when industrial robots worth over USD 4 billion were installed worldwide.
• Upsurge in the Number of Injuries in the Automotive Industry – for instance, as per 2022 statistics, over 2800 workers have suffered grave injuries in the supply chain of India's automobile industry in the past 5 years.

Challenges

• Requirement of High Initial Investment
• High Cost of Integration
• Huge Cost of Maintenance