Wilmington, Delaware, Sept. 05, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Assembly Automation Market by Product Type (Central Control System, Robot Automation Equipment, and Others), and Application (Automotive, 3C Industry, and Others): Global Opportunity Analysis and Industry Forecast, 2024-2032". According to the report, the assembly automation market was valued at $29.7 billion in 2023, and is estimated to reach $64.9 billion by 2032, growing at a CAGR of 9.1% from 2024 to 2032.
Prime determinants of growth
The assembly automation market is primarily driven by various factors such as increasing demand for efficiency and productivity in manufacturing, advancements in robotics and AI, and the need for high-quality, consistent output. Industries like automotive, electronics, and consumer goods are major adopters, leveraging automation to stay competitive. Moreover, the integration of automation technologies reduces labor costs, minimizes errors, and enables scalability in production processes, further propelling the market growth.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2024–2032 |
| Base Year | 2023 |
| Market Size in 2023 | $29.7 billion |
| Market Size in 2032 | $64.9 billion |
| CAGR | 9.1% |
| No. of Pages in Report | 220 |
| Segments Covered | Product Type, Application and Region |
| Drivers |
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| Opportunities |
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| Restraint |
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The robot automation equipment segment is expected to exhibit fastest growth throughout the forecast period
By product type, the robot automation equipment segment is anticipated to experience fast growth in the assembly automation market. Ongoing progress in robotics, AI, and ML is boosting the performance of robot automation systems, rendering them increasingly versatile, intelligent, and suitable for a broader spectrum of assembly functions. The surge in demand for adaptable manufacturing procedures, capable of adjusting to alterations in product specifications and production quantities, is also driving the need for flexible production methods.
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The automotive industry segment is expected to exhibit fastest growth throughout the forecast period
By application, the automotive segment is anticipated to experience fast growth in the assembly automation market due to its high-volume production demands, coupled with the increasing integration of advanced automation technologies. Technological innovations such as robotics, AI, and IoT solutions are driving efficiency and precision in automotive manufacturing processes. Moreover, the trend towards customization and globalization further fuels the demand for flexible and scalable assembly automation solutions in the automotive sector.
Asia-Pacific is expected to exhibit fastest growth throughout the forecast period
Asia-Pacific accounted for the highest market share in 2023 and is expected to grow with a highest CAGR during the forecast period due to its dynamic manufacturing landscape and rapid adoption of automation technologies. For instance, in China, the automotive industry is embracing automation for higher production efficiency, exemplified by the implementation of robotic assembly lines in leading automotive plants like BYD and Geely. Similarly, Japan's electronics sector, with companies like Sony and Panasonic, is driving innovation in assembly automation, utilizing advanced robotics and AI systems.
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Players: -
- ABB Ltd.
- Fanuc Corporation
- Mitsubishi Electric Corporation
- Yaskawa Electric Corporation
- Omron Corporation
- KUKA AG
- Rockwell Automation, Inc.
- Schneider Electric SE
- Bosch Rexroth AG
- Kawasaki Heavy Industries Ltd.
The report provides a detailed analysis of these key players in the global assembly automation market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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