LONDON—The global measuring robots market is expected to post a CAGR of more than 17 percent during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the increasing adoption of lean and flexible manufacturing. End-user industries have become highly competitive, with companies competing on factors such as reliability, quality, cost, and delivery. In the current scenario, competition among players has been intensifying as the demand for end-products has been increasing substantially, Technavio said in a press release.
This market research report also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights the increased adoption of robots in the aerospace industry as one of the key emerging trends in the global market for measuring robots. Aircraft manufacturers have been witnessing a huge number of orders for commercial and military aircraft. As a result, industry players have been increasingly adopting high-end technologies, such as robots, to remain competitive in the market and to increase production.
According to Technavio, measuring robots are gaining traction among aerospace industry manufacturers because of their ability to carry out precise design and dimensional checks. By incorporating monitoring sensors, process control, and vision guidance, they can offer precise and high-quality measuring of aircraft.
The market research report segments the global measuring robots market by end-user (automotive, electronics and semiconductor, metal, and oil and gas) and geography (APAC, EMEA, and the Americas). The automotive segment held the largest market share in 2017, accounting for more than 32 percent of the market. This end-user segment is expected to dominate the global market throughout the forecast period, Technavio said.
The Asia-Pacific region (APAC) led the market in 2017 with more than 42 percent of the market share, followed by EMEA and the Americas, respectively. The market share of the APAC region is anticipated to increase by almost 1 percent during the period 2018-2022.
Technavio (www.technavio.com) is a global technology research and advisory company. Its research and analysis focuses on emerging market trends with the aim of helping businesses identify market opportunities and develop effective strategies to optimize their market positions.