Robotic Process Automation for Smartphone Manufacturing Market -Growth Drivers, Opportunities and Forecast Analysis 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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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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