Automotive Robotics Market to Register the Highest CAGR in APAC through 2021, Expects M&M in Its New Report Now Available at MarketPublishers.com26 Jan 2017 • by Natalie Aster
LONDON – Fueled by escalating cost of labor together with rising vehicle production, the worldwide automotive robotics market is predicted to increase from USD 5.07 billion in the year 2016 to reach USD 8.44 billion by the year 2021, exhibiting a 10.74% CAGR in the next 5 years. Other important market drivers include wage inflation and intensifying competition. But, such factors like high maintenance costs and high initial capital expenditures could hamper further growth in the automotive robotics market.
As of 2016, the articulated robotics sector captured the biggest share of the overall market; this is attributed to versatility and cost-effectiveness of articulated robots. Constantly rising demand for articulated robots from a broad range of application in automobile industry is predicted to propel further growth in this sector.
APAC takes lead in the world’s market for automotive robotics. This regional market is anticipated to see the highest CAGR worldwide, driven majorly by increasing labor costs (especially in China) together with continued growth of the regional vehicle production.
New research study “Automotive Robotics Market by Type, Component, Application, and Region - Global Forecast to 2021” by MarketsandMarkets (M&M) offers reliable information on the current as well as historical performance of the global automotive robotics market, covers top trends and developments, reviews the major market growth drivers and restraints, and contains future forecasts through 2021.
- all-round analysis of the automotive robotics market at various geographical levels;
- data on key growth restraints and drivers;
- look at lucrative opportunities and key challenges;
- updated statistics;
- insights into historical background;
- picture of current scenario;
- review of prevailing and emerging trends;
- info on competitive landscape and leading companies;
- future outlook through 2021;
Many other M&M research reports are at hand in this Market Publishers’ catalogue.