Global Autonomous Mobile Robots Market
Global Autonomous Mobile Robots Market Size to Surge Fast USD 9.4 Billion by 2028
Published | 07 October 2022
Global autonomous mobile robots market is expected to grow steadily owing to the rapid expansion and increasing popularity of e-commerce businesses across the world. Expanding e-commerce sector could spur the demand for warehouses and distribution centers where autonomous mobile robots are employed mostly.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Global Autonomous Mobile Robots Market size at USD 2.37 billion in 2021. During the forecast period between 2022 and 2028, BlueWeave expects global autonomous mobile robots market size to growing at a significant CAGR of 22.1% reaching a value of USD 9.44 billion by 2028. Global autonomous mobile robots market is being driven by the introduction of sophisticated technologies in robotics systems, increased reliance on automation solutions to manage the supply chain ecosystem, new safety rules, and the growing E-commerce industry. Fetch Robotics and VARGO, for example, signed a binding deal in October 2020 to integrate their separate technologies and develop robotic solutions to fulfill greater E-commerce requirements and achieve better production levels in a more scalable and adaptable manner. The solution optimizes fleet and other difficulties, primarily automated navigation to achieve the shortest paths and reduce congestion. This, in turn, is expected to have a positive impact on the growth of global market for autonomous mobile robots during the period in analysis.
Global Autonomous Mobile Robots Market - Technology Advancements
To expand their warehouse operations, leading e-commerce corporations are focusing on acquisitions of autonomous robots' vendors. For example, in October 2019, Shopify Inc., a Canada-based provider of trusted retail tools and a multi-channel commerce platform, purchased 6 River Systems, Inc., a US-based developer of mobile robotics fulfillment solutions. Amazon.com, Inc., completed the acquisition of Canvas Technology, a warehouse robotics start-up based in the United States, in April 2019, to focus on the automation of various parts of e-commerce fulfillment.
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Rapid growth in Global E-Commerce business spurring demand for autonomous mobile robots
The exponential growth of the e-commerce business across the world enables warehouse and distribution center operators to focus on improving their operational workflow from manual to automated to satisfy shifting consumer buying trends. The US Department of Commerce reported expenditure on the internet platform as 16.0% of total retail sales in 2019. It will eventually allow the largest E-commerce companies to deploy autonomous technologies across their fulfillment operations.
Global Autonomous Mobile Robots Market - By Type
Global autonomous mobile robots market by type is divided into goods-to-person picking, autonomous inventory robots, self-driving forklifts, and unmanned aerial vehicles (UAVs). The market for self-driving forklifts is predicted to expand at a faster rate, owing to the growing E-commerce industry. Self-driving forklift adoption is also expanding due to rapid technology advancements, particularly real-time data connectivity, demand for real-time delivery, and smart mapping. Due to accelerated movements of goods inside warehouses and distribution centers, rising warehouse fleet management concerns, and major manufacturers' focus on developing advanced inventory management robots, goods-to-person picking robots, autonomous inventory robots, and UAVs are expected to grow steadily during the period in analysis.
Global Autonomous Mobile Robots Market - By Application
Global autonomous mobile robots market by application is segmented into sorting, pick & place, tugging, warehouse fleet management, and others. Due to rising labor costs in both developed and emerging countries, the pick and place segment is expected to maintain its leadership position among application segments of the market. Furthermore, growing concerns about efficient and in real-time handling of items and materials are putting pressure on robotic solution providers to provide pick-and-place robots.
Following pick & place, sorting, tugging, and warehouse fleet management applications could drive the market growth, due to the increased building of smart industrial facilities, automated warehouses, and other similar facilities. Major manufacturers also place a premium on integrating software and systems that can efficiently execute inventory control, sorting, and distribution of goods to achieve a faster return on investment (ROI).
Impact of COVID 19 on Global Autonomous Mobile Robots Market
The COVID-19 outbreak wreaked havoc on the manufacturing sector. Social distance, quarantines, and lockdowns all inspired the use of robotics, particularly in ground operations. Several players are also emphasizing on the renting of their robotic systems as a means of promoting their products. This would also allow warehouse and distribution owners to smooth out the process in the event of a pandemic. Furthermore, robot providers are always concentrating on training their clients and developing robot center training to educate users. These activities are expected to help in propelling the growth of global autonomous mobile robots market.
Global Autonomous Mobile Robots Market - Regional Insights
Global autonomous mobile robots market is segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Europe holds the highest market share and is the market leader. This is because key businesses are focusing on growing their distribution channels in this region to increase sales, service and support, deployment, and training services. For example, AutoGuide Mobile Robots stated in December 2020 that it was expanding its European operations by opening a new office in Munich, Germany, to provide the greatest level of assistance to its distributors and clients. Furthermore, substantial government investments in smart factories and Industry 4.0 are major factors boosting the Europe market for autonomous mobile robots.
Asia Pacific (APAC), after Europe, is expected to grow strongly during the period in analysis. This is mostly owing to the presence of both legal and unauthorized regional competitors who are employing various marketing methods to further expand their geographic reach, thereby impacting the global market. Furthermore, major APAC countries, such as China, Japan, South Korea, and India are working on integrating emerging technologies, such as 5G networks, AI-based route mapping, and localization. This, in turn, could have a favorable impact on the market growth.
Prominent players in global autonomous mobile robots market include Cimcorp Automation, Locus Robotics, Aviation Industry Corporation of China, Omron Adept, Hi-Tech Robotic Systemz, Clearpath Robotics, General Atomics Aeronautical Systems, Aethon, SMP Robotics, Softbank Robotics, AutoGuide Mobile Robots, KUKA AG, IAM Robotics, NextShift Robotics, Stanely Robotics, Robotnik, and SESTO Robotics. These companies are investing heavily in R&D activities, advancing products and technologies, and forging partnerships, joint ventures, partnerships.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global Autonomous Mobile Robots Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Autonomous Mobile Robots Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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