Automotive robotics market set to grow by 8% to 2030

According to a report by ReportLinker, the automotive robotics market size was valued at $12.2 billion in 2022, and is projected to reach $23.18 billion by 2030, with a CAGR of 8.0% during the forecast period, 2023–2030.

ReportLinker and its report “Automotive Robotics by Type, by Component, and by Application – Global Opportunity Analysis and Industry Forecast, 2023–2030” – has assessed the growth is due to a number of key factors.

The report states: “The growing use of self-driving cars is fuelling the automotive robotics market growth, as there is a need for advanced technologies and systems to support their operations. Robotics is essential in ensuring precise control, efficient manufacturing, and improved safety features for autonomous vehicles.

“However, the high cost of installing robotics and the expenses for maintenance and repairs, particularly for smaller businesses, are expected to limit the growth of the automotive robotics market.

“On the contrary, the rise of Industry 4.0, also known as smart manufacturing, creates a favourable environment for the automotive robotics market. Industry 4.0 relies heavily on robotics to establish a connected manufacturing and supply chain management ecosystem. Robots play a vital role in enabling digital connectivity and are highly resilient to disruptions due to the integration of sensors. Thus, the adoption of Industry 4.0 presents a promising growth opportunity for companies operating in the automotive robotics market.”

For more information on the report: https://www.reportlinker.com/p06486770/?utm_source=GNW

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