$30+ Billion Mobile Robots Global Market to 2026
Dublin, July 06, 2021 (GLOBE NEWSWIRE) — The “Mobile Robots Market – Forecasts from 2021 to 2026” report has been added to ResearchAndMarkets.com’s offering.
The global mobile robots market is evaluated at US$11.404 billion for the year 2019 and is estimated to grow at a CAGR of 15.34% to reach a market size of US$30.966 billion by the year 2026.
Mobile robots refer to non-stationary robots that operate without human intervention. The major growth driving factor for this market is the increasing demand for mobile robots in various sectors such as logistics, warehousing, medical and healthcare, and defense. Optimizing business processes, resolving human constraints and efficient management of industry-specific activities further supplement the growth of the market. Conversely, the major limitations are the high cost of manufacturing coupled with time-consuming research and development, marketing, and manufacturing.
Moreover, increasing demand for mobile robots for a range of applications across various industries is a major factor expected to continue to drive the growth of the global mobile robots market. Mobile robots are extensively used in areas and locations such as warehouses, in the health care sector, for scientific research purposes, education, automation manufacturing, military and security operations, and applications, energy harvesting, agriculture, etc. Mobile robots are used to assemble information from any area or setting that could endanger personnel or to handle difficult tasks that cannot be done by humans. Increasing demand for mobile robots for a range of applications across various industries is a major factor expected to continue to drive the growth of the global mobile robots market. In addition, growing demand in various manufacturing industries for handling heavy loads, or repetitive tasks including welding, packing, material handling, dispensing, etc., and also for the ability to complete such tasks more quickly, thereby saving time and money are additional factors expected to drive the growth of the global mobile robots market to a significant extent.
Moreover, the growing trend towards digitization and increasing number of companies preparing or in the process of utilizing artificial intelligence (AI) for tasks to improve speed and productivity and save time and effort cost-effectively through the deployment of mobile robots, as well as to enhance the work environment, increase profitability, function over longer working hours, boost company image, etc., is excepted to drive the growth of the global mobile robots market.
However, deployment costs are relatively high and could be out of budget for smaller or budget-crunched companies. In addition, engineering expertise is required for maintenance purposes, and mobile robots require continuous updating, which is among some of the basic but major factors that could restrain the growth of the global mobile robots market.
Major application areas where these devices are used include agriculture, transportation, inspection, maintenance, building, medical sectors, etc. For instance, farmers use them for performing different tasks, including harvesting, weeding and collecting crop data, etc. Advancement in sensors used for navigation, simplicity, and increasing dependence on unmanned jobs have a positive impact on the global mobile robotics market. Favorable funding scenario, presence of sensor manufacturers, robot manufacturers, automation system providers, software developers, manufacturing companies, and increasing application areas will fuel revenue growth. In 2015 ABB, introduced the YuMi robot, the world’s first collaborative industrial mobile robot communicating with humans. WiBotic is developing a kind of machine with a wireless battery charging facility available for mobile, aerial and aquatic robots. Around 24,000 robots were ordered from North American companies in 2016, indicating an increase of seven percent in units. It is estimated that North America is the third to use robots after Japan and China. This inclination is due to the major fact that leading automation companies are reaching out to small and medium-sized companies. U.S. mobile robotics market size is the key driver for North American revenue.
The advent of COVID-19 harmed the global mobile robots market. The immense downturn in the automation sector has been a significant reason for the decline in the demand for mobile robots at a global level. The pandemic has kept its claw on the throat of the global economy, compelling the giant industries to gasp for breath. Furthermore, Because of the pandemic, the supply chain and the manufacturing processes across industries were disrupted which resulted in the loss of demand. Many industries have been shut down. These factors impacted the global market of industrial robotics negatively. According to a report published by the International Federation of Robotics (IFR), by 2022 almost four million industrial robots are expected to be operational across the globe. This, however, will be possible once the impact of COVID-19 is erased. The development of robots to cope up with the pandemic is expected to trigger the recovery of the robotics industry. For instance, disinfecting robots are on the rise in the post-pandemic world. SmartGuardUV, launched by Fetch Robotics, is a disinfecting autonomous mobile robot that can abolish up to 99.9% of viruses. The gradual growth in the market of mobile robots is expected to start during the initial quarters of 2021.
The segmentation of the global Mobile robots market has been done into type, component, end-user, and geography. By type, the classification of the market has been done into Ground, Aerial, Marine. By component, the classification of the market has been done into Software, Hardware. By end-user, the classification of the market has been done into Military And Defense, Healthcare, Travel And Transport/Logistics, Media And Entertainment, Education And Research, Others. Furthermore, based on geography, the global market has been distributed as North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.
Rising demand for mobile robots from the e-commerce sector a global level will drive the market during the forecast period.
The growth of the mobile robots market is fuelled by the increasing demand from the e-commerce sector for various purposes. major e-commerce companies are focusing on acquisitions of autonomous robots’ vendors to proliferate their warehouse operations. For instance, in October 2019, Shopify Inc., a provider of trusted tools for retail businesses and multi-channel commerce platform based in Canada, acquired 6 River Systems, Inc., a provider of mobile robotics fulfillment solutions based in the U.S. The transaction envisages adding 6 River Systems, Inc.’s cloud-based software and a fleet of “Chuck” collaborative mobile robots to Shopify Inc.’s Shopify Fulfillment Network.
In April 2019, Amazon.com, Inc. completed the acquisition of the U.S.-based warehouse robotics start-up company Canvas Technology to focus on the automation of different aspects of e-commerce fulfillment. Moreover, Self-driving forklifts are ideal for load-handling operations that are repetitive and typically involve long distances. Linde Material Handling, a manufacturer of forklift trucks and warehouse equipment based in Germany, offers automated forklifts equipped with front & rear scanners, navigation lasers, acoustic & visual warning indicators, and 3D camera vision. The company claims that its autonomous forklift trucks can detect obstacles in real-time and adjust the route accordingly. In May 2018, ZF Friedrichshafen AG, a car parts maker based in Germany, launched a self-driving forklift called the “ZF Innovation Forklift” that can potentially increase the efficiency of industrial applications.
The players in the global mobile robots market are implementing various growth strategies to gain a competitive advantage over their competitors in this market. Major market players in the market have been covered along with their relative competitive strategies and the report also mentions recent deals and investments of different market players over the last few years. The company profiles section details the business overview, financial performance (public companies) for the past few years, key products and services being offered along with the recent deals and investments of these important players in the market.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Mobile robots market Analysis, by Type
6. Mobile robots market Analysis, by Component
7. Mobile robots market Analysis, by End users
7.2. Military And Defense
7.4. Travel And Transport/Logistics
7.5. Media And Entertainment
7.6. Education And Research
8. Mobile robots market Analysis, by Geography
8.2. North America
8.3. South America
8.5. Middle East and Africa
8.5.1. Saudi Arabia
8.6. Asia Pacific
8.6.4. South Korea
9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
10.1. Aviation Industry Corporation of China
10.2. Clearpath Robotics
10.3. General Atomics Aeronautical Systems
10.4. Hi-Tech Robotic Systemz
10.5. Softbank Robotics
10.6. SMP Robotics
For more information about this report visit https://www.researchandmarkets.com/r/f3a10x