The importance of industrial robots has increased largely in the automotive sector in the last couple of years. Due to this rise, the demand for mobile cobots has also increased. Though mobile cobots are currently in its initial stage of development, its significance is growing dramatically as they are not limited to perform single tasks. Deployment of mobile cobots helps in painting, spraying, and assembling of different parts of cars, due to which its demand has grown in the automotive sector. Moreover, increasing demand from customers for customization in their cars has also led demand in the global mobile cobots market.
Other crucial factors driving growth in the global mobile cobots market includes high accuracy and reducing costs of mobile robots that are acting in favor of this market. Rising labor costs in developing economies, mainly in the material handling industries are projected to further drive demand in the global mobile cobots market. Economic development in developing regions is also likely to play a crucial role in developing the global mobile cobots market. Additionally, increasing research and development activities by manufacturers to increase the efficiency of cobots will further augment demand for mobile cobots in different industries in the coming years.
Technological Developments in Developing Regions to Fuel Market Growth
Increased investments in modernization of infrastructure and a constantly growing number of manufacturing facilities in developing economies are expected to further fuel demand in the global mobile cobots market. India, China, and South Korea are key regions in the Asia Pacific mobile cobots market. Moreover, technological developments and innovations taking place in the Asia Pacific regions are also projected to fuel demand in the global mobile cobots market in the near future. The growing need for automating production and rising demand for electronic products in this region are few other driving factors in accelerating demand for mobile cobots.