Robotic Process Automation for Smartphone Manufacturing Market - Upcoming Trends, Growth Drivers and Challenges – Forecast to 2023
While
2020 is being an extremely eventful year for Robotic
Process Automation For Smartphone Manufacturing due
to COVID-19 breakthrough, the global robotic process automation for Smartphone
manufacturing market 2020 is showing some positive instincts, when studied by
Market Research Future. As per COVID-19 impact analysis, the market has the
potential to show immense growth, which is recorded at a rate of ~30.5% and is
capable of reaching a valuation of USD 3992.6 million by 2023. The growth period
has been estimated from the years 2018 to 2023. The earlier valuation
accumulated by the market in 2017 was USD 807.9 million.
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Top Driving Factors
The
unforeseen challenges that occurred by the ongoing COVID-19 have influenced
effectively to exhibit the long term growth projections on robotic automation
Smartphone manufacturing market size. Thus, the study has identified a better
growth perspective of the market with the help of some of the impacting factors
prevailing is thus working in the factor to mark its future growth at a better
pace.
The varying consumer interest has built a
high need for deployment of technically advanced automation processes in the
manufacturing and production process of the industry. A flexible production
system with a high-end IT-enabled process offers a fast and safe production
process, which is an efficient, flexible, reliable, and cost-effective
solution. These factors have been necessarily considered as influential and
responsible for the growth of the market.
In fact, economic pressure has also
affected the performance and growth of an industry, which is also one of the
factors behind utilizing the automation process in Samsung manufacturing. The
significant advantage of automation over conventional manufacturing processes include
upgrading in quality and robustness of a process or product, high throughput or
productivity, and reduction of direct human labor cost and expenses. This is
yet another primary reason for the high growth of the robotic automation
Smartphone manufacturing market.
On the contrary, the factor of the
scarcity of investment by small & medium size industry and less
accessibility of trained professional in developing economies is showing signs
of market growth been hindered to some extent in the forecast period.
Segmentation of
Market: Robotic Automation Smartphone Manufacturing
The global robotic
automation Smartphone manufacturing market has further been segmented along the
following lines:
In terms of the robot type segment, the
market has included Cartesian, SCARA, 6-axis robot, articulated, redundant,
delta, dual-arm, and parallel. Among these, the 6-axis robot segment
contributed as the largest market share in 2017, with a market value of USD
168.7 million, and now it might register the highest CAGR during the forecast
period. Also, SCARA is the best suited for high-speed assembly, knitting,
packaging, and other material handling applications.
In terms of component segment, the market
has included Motor, generators, motor controls, automation equipment, and power
transmission equipment
In terms of organization segment, the
market has included Small & medium enterprises and large enterprises.
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Regional Framework
The study takes a closer look at critical
regional dynamics and the trends that will create lucrative avenues in emerging
regional markets for digital process automation. The geographical overview of
the global robotic automation Smartphone manufacturing market has been
conducted in four major regions, including North America, Asia Pacific, Europe,
and the rest of the world.
Owing to the mounting development in the
IT industry, North America is likely to lead the robotic process automation for
the Smartphone manufacturing market in the forecast period. North America is
one of the leading regions across the world in terms of market share. The
market for robotic process automation for Smartphone manufacturing in this
region has a huge demand owing to high growth in the IT industry and mounting
adoption of smartphones by consumers.
Asia-Pacific has also successfully taken
second place in the Smartphone manufacturing market in robotic process
automation as it is expected to expand at a faster pace during the forecast
era. It was owing to the enormous demand for robotic process automation for the
manufacturing of Smartphones, the robotic process automation for the Smartphone
industry is experiencing high growth. Asia Pacific is likely to observe the
highest CAGR in the coming years owing to escalating demand for Smartphones,
soaring demand for outsourcing services, and leading markets such as South
Korea, China, and Japan.
The robotic process automation for the
Smartphone manufacturing market in the European region is likely to witness
rapid growth in the forthcoming period.
Top Market Players
The foremost market players effective in
the global market are identified Seiko Epson Corporation, ABB Ltd, KUKA
Robotics, Yaskawa Electric Corporation, Nice Ltd, Denso Wave Inc., Fanuc
Corporation, Pegasystems Inc., Nachi Robotic System Inc., and Redwood Software.
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