As per our analysis report, the global mobile robots market is expected to reach USD 12.45 million by 2029 from USD 7.56 Billion in 2024, growing at a compound annual growth rate (CAGR) of 10.5% during the forecast timeline.
Mobile robots are robotic systems that have the ability to navigate in any environment without any human intervention. Devices such as software, sensors, and other gears are integrated into robotic systems to perform the given task by recognizing and mapping the surrounding environment. They are categorized into autonomous and non - autonomous mobile robots. Autonomous robots do not need any external guidance, while nonautonomous, a combination of human interventions and automation, need external guidance to perform the tasks. The basic function of a mobile robot is to move the cargo from one place to another place using navigation. They have several applications in warehouse and distribution centers, personnel assistance, medicine, surgery, automotive, food, and beverage industries.
Global Mobile Robots Market Drivers:
Companies are automating the manufacturing and operation possess to save time, reduce cost, and deliver products with efficiency. With stiff competition globally, companies are also using robotic systems to ensure safer operations is driving market growth. Further upsurges in industries such as E-commerce to meet on-time deliveries, using robotic systems in the job floor of the automotive industry, and increased usage of robotic devices in agriculture are fuelling the mobile robots market. In addition, technological advancements in robotics and rising adoption by defense and military are also propelling market growth. Several other factors, such as the rise in demand for robots as a service ( RaaS) and government investments, are positively impacting the market shares during the forecast period.
Global Mobile Robots Market Restraints:
The initial capital expenditure for installation is very high and weighs on organizations. Further maintenance of robotic systems also requires a professional. These major factors can hinder mobile robots' market size. The robotic systems cannot perform in unmapped and untested environments. Further rising safety concerns while working with robots can also curtail the mobile robots market growth.
Impact of COVID-19 on the mobile robots market:
The global pandemic started in China in 2019 and spread to almost 200 countries at an alarming pace. Containment of viruses and vaccination have become top priorities of every nation. Every nation is facing the uncertainty of employment, rise in inflation, and unavailability of essential goods and services. Further, several supply and demand mismatches in both developing and developed countries have negatively impacted interconnected economies globally. Also, due to government restrictions and supply chain disruptions, many prime businesses have stalled and scrapped their projects. This outbreak had an economic impact and implications on global markets. The mobile robots market has registered positive growth during the pandemic. Large-scale companies in health care, E-commerce, Food and beverage, and automotive industries have rapidly adopted robotic systems to work in the production process. Further, Several B2B and B2C companies have collaborated with end-user companies to use robots as a service (RaaS). This helped small and medium-scale industries to maintain supply and demand during the pandemic.
REPORT COVERAGE:
REPORT METRIC |
DETAILS |
Market Size Available |
2023 to 2029 |
Base Year |
2023 |
Forecast Period |
2024 to 2029 |
CAGR |
10.5% |
Segments Covered |
By Type, Application, End User, and Region |
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
Market Leaders Profiled |
Northrop Grumman Corporation, Kuka AG , Honda Motor Co, SoftBank Corp, Irobot, DJI, Lockheed Martin Corporation, Kongsberg Maritime, General Dynamics Mission Systems and Others. |
This research report on the global mobile robots market has been segmented and sub-segmented based on type, application, end-user, and region.
Global Mobile Robots Market - By Type:
The self-driving forklifts segment has a healthy growing market share during the forecast period owing to an increase in online sales. Technological advancements such as real-time data collection and real-time delivery with smart mapping are propelling the growth of the market. Further, an increase in the construction of warehouse facilities with the integration of advanced automation is driving the mobile robots market shares.
Global Mobile Robots Market - By Application:
The Pick & Place segment holds the maximum share of the mobile robots market during the forecast period. To manage growing inventory, companies are using pick-and-place robots to transport the products to required locations. Further, increasing labor costs in developed and developing countries are fueling market growth. Moreover, companies are automating pick-and-place operations to prevent any misplacement and reduce the risk of injuries to workers. Furthermore, growing concerns about handling goods efficiently are creating a significant impact on mobile robot adoption in the pick-and-place segment.
Global Mobile Robots Market - By End- User:
The logistics & warehousing segment has the highest market share in the mobile robots market during the forecast period. The increase in demand for logistics is growing day by day. The E-commerce industry is significantly using logistics and warehousing facilities to cater to the ever-growing consumer orders. Also, with rising inventory levels and labor costs, companies prefer to automate their whole operations. Further, an increase in the integration of mobile robots into the present infrastructure is propelling the market expansion in the period.
Global Mobile Robots Market – By Region:
The Asia-Pacific region is anticipated to hold the most considerable market revenue in the mobile robots market during the forecast period. Growing investments from government authorities in agriculture, healthcare, and other sectors are majorly fuelling the demand of the market in Asia Pacific. Countries such as China, India, South Korea, Japan, and Australia are actively automating industrial spaces and using mobile robots for moving cargo to required destinations. These factors are significantly contributing to the mobile robots market expansion. Significant growth is observed in the European region during the forecast period.
KEY MARKET PLAYER:
Major Key Players in the Mobile Robots Market are Northrop Grumman Corporation, Kuka AG, Honda Motor Co., SoftBank Corp., Irobot, DJI, Lockheed Martin Corporation, Kongsberg Maritime, General Dynamics Mission Systems, Inc., Samsung Electronics, Parrot Drones SAS., 3DR, GeckoSystems Intl. Corp., LG Electronics, Amazon Robotics, Mayfield Robotics, Promobot LLC, BLUE FROG ROBOTICS & BUDDY, LEGO System A/S, ECA GROUP, and others.
RECENT HAPPENINGS IN THE MARKET:
Frequently Asked Questions
The Mobile robots market is expected to reach USD XXX billion by 2028.
The Asia-Pacific region has the largest share of the Mobile robots market.
Northrop Grumman Corporation, Kuka AG, Honda Motor Co., Ltd, SoftBank Corp., Irobot, DJI, Lockheed Martin Corporation, Kongsberg Maritime, General Dynamics Mission Systems, Inc., Samsung Electronics, Parrot Drones SAS., 3DR, GeckoSystems Intl. Corp., LG Electronics, Amazon Robotics, and Mayfield Robotics are the key players in the market.
The market is expected to register at a CAGR of XX % during the forecast period 2023-2028.
High initial capital expenditure for the installation and maintenance of robotic systems and poor performance in unmapped and untested environments are restraining factors for market growth.
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