The future of robots in the automotive industry
The automotive industry is heavily reliant on robots and automation.
So how will robots fair over the coming years?
One major report, recently published, suggested that the automotive robotics market size was worth $4bn in 2016 and was set to grow by around 4% every year between 2017 and 2024. What’s more, that demand for robots will be around 210,000 units by 2024. This puts the value of the market at nearly $6bn by then.
The backdrop to this growth is clear. Increasing use of robots allow manufacturers to exploit increased efficiencies and capacity, improve product quality and help worker safety and conditions. What car makers strive for is consistent time and assembly processes in each part of the production process.
There are some negatives of course. As I write this, the world is entering into a huge downturn the world has never seen before. The effects of the Covid-19 Pandemic have been disastrous for so many industries and it's unclear how long it will take the global economy to recover. However, robots will play a hugely important role in the recovery.
Another negative is that because manufacturers face high installation costs, it will, under the period under review, hamper the overall market revenue.
One thing is for sure though, robots have a bright future in the automotive industry.