Industrial Robots Market in the Automotive Industry| Insights on the Crisis and the Roadmap to Recovery from COVID-19 Pandemic| Technavio
The global industrial robots market in the automotive industry to register an incremental growth of USD 2.42 billion, witnessing a CAGR of almost 4% during 2020-2024, according to latest market research analysis by Technavio. The report offers a detailed analysis of the impact of COVID-19 pandemic on the industrial robots market in the automotive industry in optimistic, probable, and pessimistic forecast scenarios.
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Technavio has announced its latest market research report titled Global Industrial Robots Market in the Automotive Industry 2020-2024 (Graphic: Business Wire)
Get detailed Insights on COVID-19 pandemic Crisis and Recovery analysis of industrial robots market in the automotive industry. Download free report sample
The industrial robots market in the automotive industry will witness a Neutral and Inferior impact during the forecast period owing to the extensive spread of COVID-19 pandemic. Furthermore, as per Technavio's pandemic-focused research highlights, the market growth is likely to Decrease compared to 2019.
Industrial Robots Market in the Automotive Industry 2020-2024: Vendor Analysis
The market is fragmented. Key players in the market have been launching several initiatives and introducing innovative products and services to cater to a larger target audience during the pandemic. With rapidly shifting focus toward creating a digital marketplace to provide a convenient platform for stakeholders in the supply chain, several companies in the market are resorting to move their businesses online along with existing brick-and-mortar channels.
Major Industrial Robots Market Participants in the Automotive Industry are
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Industrial Robots Market in the Automotive Industry 2020-2024: Segmentation
Industrial Robots Market in the Automotive Industry is segmented as below:
Material handling will account for the largest share due to the growing demand for small robotic arms and other robot parts.
APAC region will account for the highest incremental growth during the forecast period due to the factors such as the growing focus of OEMs towards increasing investments and building new manufacturing plants in APAC coupled with the rising demand for automobiles.
The industrial robots market in the automotive industry is driven by IoT and Industry 4.0 and increasing adoption of lean and flexible manufacturing, as per Technavio's pandemic impact-focused research study. Furthermore, Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, and significant developments in vendor operations and government regulations in Industrials industry.
For gaining more insights about the impact of COVID-19 pandemic on related reports, check out Technavio's Industrials section
Key Considerations for Market Forecast:
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Table of Contents:
Five Forces Analysis
Market Segmentation by Application
Market Segmentation by Solution
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