Mobile Robots Market: Discover the Power of AI
The global mobile robots market size is projected to grow at a CAGR of 15.34% to reach US$30.966 billion in 2026 from US$11.404 billion in 2019. It has been observed a powerful rate in recent years and is forecast to exhibit fruitfully within the years to come back.
Mobile robots are non-stationary robots controlled by software’s which uses sensors and other technologies to perform tasks without any human intervention. These robots are a mixture of artificial intelligence and another robotic element which has made them a popular choice is various industry sectors like warehousing, logistics, defence, agriculture and health care, and medical.
The emergence of industry 4.0 in warehousing and logistics due to the increasing adoption of automation has been a propelling reason for the growth of this industry. The developments in industry 4.0 have created a link between the machine and its processing. Companies have been adopting mobile robots to save time, reduce costs and deliver better products to consumers. Moreover, the growing competition between industry giants have propelled the use of these robots in industry sectors.
One of the main drivers for the market growth includes its high demand of mobile robots in various industry sectors. For instance, the hospitality industry including clinics, pharmaceutical companies has been using these robots for moving healthcare materials and tracking patients’ health. SwissLog, a worldwide automation solution developer to the healthcare sector has been providing Robo couriers, Relay Autonomous Service robots and TransCar AGV to the healthcare sector for heavy-duty movement and patient care. The use of these robots has surged in the recent time in the healthcare sector due to transmission of virus from person to person. The use of mobile robots in the defence sector for surveillance purposes and combat scenarios. Developing nations have laid emphasis on the use of these robots for intelligent tracking and supply of defence equipment’s at war fronts as they provide an advantage at the ground level. Furthermore, the use of mobile robots in agricultural sectors has been gaining pace as it helps in crop data, weeding and collecting, harvesting etc. The adoption of mobile robots has not only improved efficiency but has also improved yields. Additionally, increasing human safety concern have forced companies to invest in mobile robots in the retail business
However, the high investment charges and the inability of these robots to sustain in adverse environments as these robots are programmed to function in a specific environment are the leading reasons hampering the growth of this market in the global arena.
The E-commerce Segment is Estimated to Own the Highest Market Share
Based on end-user, the market is metameric into military and defence, healthcare, travel and transport/logistics, media and entertainment, education and research and others. On the source of end-use, the e-commerce section procured the utmost revenue of the worldwide mobile robots market in 2019. The increasing demand of mobile robots from the e-commerce sector in the global market has been a prime driver of this industry.
Major companies have been eyeing over the acquisition of autonomous robot vendors for their warehouse operations. Amazon, a multinational technology company, has acquired US-based start-up Canvas technology in April 2019 to fulfill the automation of different aspects of e-commerce. Further, Shopify Inc., a Canadian multinational e-commerce company had acquired 6 River Systems Inc. Additionally, self-driving forklifts are widely used in various industry sectors involving the transportation of heavy goods to long distances. Linde Material Handling, a leading manufacturer of forklifts trucks has advanced in the technologies offering forklifts equipped with 3D cameras, acoustic and visual indicators, navigation layers. The technological advancements in the industry have led to the surge in the demand of these robots in various industry sectors to increase their efficiency and reduce the time constraint.
Furthermore, the requirement of intelligent solutions in the logistics field due to the increase in networking has surged the demand of these mobile robots.
North America and Asia Pacific Region Fuelled the Mobile Robots Market
Based on, the market is metameric into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In 2019, North America emerged united of the leading regions; though, the market within the Asia-Pacific region is anticipated to develop at a fast rate as compared to different regions. North America is additionally anticipated to exhibit the highest rate / CAGR over the forecast amount 2020-2027. Factors like rising income and increasing demand for mobile robots would produce moneymaking growth prospects for the global mobile robots market across the region. Also the presence of e-commerce giants in the region have surged the demand of these robots. In the year 2016, 24000 robots were ordered from the key developers of the North American companies which had shown a seven percent overall increase. The growth of the Asia-Pacific market is calculable to be fuelled because of the factors such as the growing penetration rate from the e-commerce giants like Walmart, Amazon which bring the need of these mobile robots in the warehouses. Japan and China are the leading user of mobile robots followed by North America, showing the adoption of these robots in the Asia Pacific region. Industry giants acquiring small and medium-sized enterprises has been a major reason for the growth in this region. Also, the growing development in the information technology ecosystem and the demand from various industry sectors in the region is boosting the growth of the robot market industry.
Manufacturing activities are interrupted because of lockdown measures enforced in numerous countries. Additionally, disruptions within the supply chain and retardation of companies' businesses have occurred. Trade barriers have restrained the stock. The adverse effect on the automation sector has been a prime reason for the decline in the demand of mobile robots in the global market. The disruptions in the supply chain and manufacturing processes due to the lockdown implemented by governments have resulted in a sharp decline in the mobile robots industry. As per the report published by the International Federation of Robotics (IFR), four million industry robots are anticipated to be operational across all industries by the year 2022. The technological advancements in this industry is expected to trigger the recovery of this industry. The surge in the demand and use of disinfecting robots amid this pandemic has led to the growth of this industry in this time period. Recently, the SmartGurardUV disinfection robot which uses lamp technology was launched by Fetch Robotics in July 2020.
The key companies involved in the mobile robots market are the Aviation Industry Corporation of China, Clearpath Robotics, General Atomics Aeronautical System, Tech Robotic Systemz, Softbank Robotics, SMP Robotics, Aethon.
Leave a ReplyWant to join the discussion?
Feel free to contribute!