The global mobile robotics market is expected to gain thrust from such features and scale 17.15% CAGR during the forecast period (2018-2023) to surpass USD 15 billion.
Market Research Future (MRFR) named several factors that can boost the growth of mobile robotics market. Mobile robotics include mobile robots that can be used in physical environment to move objects without including any external guidance. Most of these robots can perform work by navigating as per their AI support. Their reliability and accessibility are of prime importance.
Factors such as automotive industry, defense sector, domestic, healthcare, and others are expected to increase the demand for mobile robotics market. In manufacturing, it is reducing production time without compromising on quality. That is why factories are booming. On the other hand, its ability to provide accuracy, and do heavy lifting are expected to promote the mobile robotic prospects. In addition, accuracy would be of followed. Factors such as these can improve the mobile robotics market.
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The global mobile robotics market is thriving on the tactical moves made by companies like Honda Motor Co., Ltd. (Japan), Universal Robots (Denmark), iRobot Corporation (US), KUKA Robotics Corporation (Germany), Denso Corporation (Japan), Harvest Automation (US), Northrop Grumman Corporation (US), Epson America, Inc., (US), FANUC Ltd (Japan), and Yaskawa Motoman Robotics (US). These companies make the market intense with their strategies that include merger, acquisition, product launch, innovation, and other methods. At the same time, their steps ease the path for future progress and market expansion.
In May 2019, NextShift Robotics has announced that they are teaming up with a third-party logistics provider in North America, Kenco Logistics where they would be used in the innovation lab. The workflow system would incorporate advanced autonomous mobile robot technology which would help in finding solutions quickly and reduce implementation time. The workflow would also lessen the error chances.
MRFR’s analysis of the global mobile robotics market has a strong foundation in the segments like components, navigation type, application, and vertical. These four segments have been amply backed by data that have root in figures gathered by expert analysts.
Based on components, the mobile robotics market includes hardware and software. The hardware component can be sub-segmented into control units, power units, sensors, motors, and others.
Based on the navigation type, the mobile robotics market comprises unmanned surface vehicles (USVs), unmanned aerial vehicles (UAVs), unmanned ground vehicles (UGVs), and autonomous underwater vehicles (AUVs). The UAVs are gaining precedence due to their high integration into the defense sector for surveillance and will to reduce human casualty number.
Based on the application, the mobile robotics market includes security & surveillance, inspection & maintenance, domestic household tasks, entertainment, education & research, and others. The education & research segment has substantial use of this technology.
Based on the vertical, the mobile robotics market includes manufacturing, logistics & warehousing, military & defense, automotive, healthcare, retail, and others. The automotive segment has wide-scale use of the technology. The logistics & warehousing segment is also gaining prominence and it can be seen in Amazon’s introduction of mobile robots in warehouse management.
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The geographical study of the mobile robotics market includes regions, namely, North America, Europe, Asia Pacific (APAC), and the Rest-of-the-World (RoW). MRFR, while discussing the market, realized how significant market pockets can change the reading and prospect of the market in the coming years, hence, a demographic study has been conducted.
North America is known for its advanced technologies which has robust robotics techniques as a part of it and its extensive deployment to boost industrial applications have created enough space for market expansion. The U.S. and Canada are also spending much in their defense sector and for mostly, surveillance. The domestic sector is also witnessing high integration of mobile robots for household chores like vacuum, lawn mowing, floor cleaning, and others.
The APAC market is holding the second spot. Countries like India, China, and Japan are setting up new industries and investing heavily to provide top-grade output. This investment for technology is witnessing inclusion of mobile technology. Easy access to resource and low labor cost are also creating luring opportunities for various market giants who are now investing in the region. This is also spurring the growth for mobile robotics market. In the U.K., the healthcare sector is providing traction to the market in countries like the U.K., Germany, and France.
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