Pune, India, Aug. 16, 2021 (GLOBE NEWSWIRE) -- The global autonomous mobile robots market size is expected to reach USD 8.70 billion in 2028, exhibiting a CAGR of 23.7% during the forecast period. The high dependency on automation to manage supply chain ecosystem coupled with booming e-commerce industry will bolster the market growth in the forthcoming years, states Fortune Business Insights, in a report, titled “Autonomous Mobile Robots Market, 2021-2028.” The market size stood at USD 1.67 billion in 2020.
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The list of key Players in this Market:
- Material Handling Systems. (United States)
- Fetch Robotics, Inc. (United States)
- IAM Robotics (United States)
- NextShift Robotics (United States)
- Stanley Robotics (United States)
- Robotnik. (Spain)
- SESTO Robotics. (Singapore)
- HAHN Robotics GmbH (Germany)
- Vecna Robotics (United Kingdom)
- AutoGuide Mobile Robots (England)
- SoftBank Robotics (Paris)
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR | 23.7 % |
| 2028 Value Projection | USD 8.70 Billion |
| Base Year | 2020 |
| Market Size in 2021 | USD 1.97 Billion |
| Historical Data for | 2017 to 2019 |
| No. of Pages | 160 |
| Segments covered | Size, Analysis, Type, Application, End-User,Geography |
| Growth Drivers | COVID-19 Pandemic to Create Business Opportunities for Autonomous Robot Suppliers |
| Introduction of Sophisticated Technologies Embedded in Robots is a Prominent Trend | |
| Rising E-Commerce Industry to Bode Well the Market | |
| Pitfalls & Challenges | High Setup Cost to Hinder Growth |
COVID-19 Impact:
Essential Strategies Adopted by Companies to Favor Market amid Coronavirus
The shortage of workforce due to coronavirus has disrupted many industries' supply chain, which has affected the global market. Companies are continually striving to educate their employees with robotics to utilize robots in operations seamlessly. Moreover, prominent players have adopted marketing strategies such as mergers & acquisitions, joint ventures, collaborations, and advanced robotic solutions to generate revenue during the pandemic. For instance, in February 2021, Verizon, an American multinational telecommunications conglomerate, announced that it had signed a definitive agreement to acquire incubed IT, a software platform creator to administer, manage and optimize mixed fleets robots in industrial settings. This agreement will help the companies to utilize new efficiencies in their autonomous mobile robot fleets.
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Market Segments:
Self-driving Forklifts to Dominate the Market
Based on the type, the market is classified into goods-to-person picking robots, self-driving forklifts, autonomous inventory robots, and unmanned aerial vehicles. The self-driving forklifts segment is expected to rise exponentially during the forecast period due to the rising e-commerce industry. Also, rapid technological advancement in data connection boosts the demand for real-time delivery and smart mapping, in turn aiding the segment’s growth.
Based on application, the market is divided into sorting, pick & place, tugging, warehouse fleet management, and others. Pick & place segment is expected to hold the highest share owing to rising labor costs in developed and developing economies.
Based on the end-user, the market is categorized into warehouses & distribution centers, and manufacturing. Warehouses and distribution centers segment are expected to grow at a significant rate due to increasing e-commerce sales.
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Report Coverage
The report encompasses supremely accurate data, consisting of market drivers, trends, prospects, and obstructions. It also contains a profound investigation of all market segments, separately and collectively, and meticulous insights into the regional analysis, influencing the market growth. Apart from these, the market report brings an in-depth assessment of prominent companies and their business strategies.
Driving Factor:
Surging E-commerce Industry to Foster Growth
The flourishing e-commerce is expected to create lucrative opportunities for the global market. The E-commerce industry allows warehouse and distribution center owners to improvise their operational workflow from manual to automation to meet the changing consumers’ buying patterns. For instance, In February 2020, The U.S. Department of Commerce reported 16.0% of total retail sales on the online platform. Also, data showcased from online sales data, e-commerce sales from May to June were approximately 40% higher than the pre-pandemic benchmark week of February to March.
Furthermore, the integration of autonomous mobile robots in the supply chain by major e-commerce companies will augur well for this market. For instance, in December 2020, a Southern California Fulfillment Center, Sam's Club integrated GreyOrange autonomous mobile robots in its e-commerce orders. This would help to optimize the processes allowing associates more time to upscale their skills for other applications. According to Sam's Club's estimation, e-commerce sales of the firm will hit USD 363 million at the end of the third quarter of 2020, compared to USD 277 million the previous year.
Regional Insights:
Adoption of Advanced Technologies to Enable Growth in Asia Pacific
Geographically, the market is classified across five major regions, namely, North America, South America, Europe, the Middle East, and Africa, and Asia Pacific. Asia Pacific is expected to experience a rapid growth rate during the forecast period. The growth is attributed to the presence of players in the region. China, Japan, South Korea, India, and others are integrating advanced technologies, mainly 5G networks, AI-based route mapping and localization, and others are creating opportunities for the market in Asia Pacific. Europe is expected to hold a significant autonomous mobile robots market share during the forecast period due to the increasing sales, service and support, deployment, and training services in the European countries. For instance, in December 2020, AutoGuide Mobile Robots expanded its European operations and set up an office in Munich, Germany, to deliver the highest level of support for their distributors and customers. Moreover, massive investments by governmental agencies for smart factories and Industry 4.0 will aid growth in Europe.
Key Development:
July, 2020: Omron Automation Americas expanded its autonomous material transport solutions by introducing heavy-duty mobile robots for large payload capacity applications.
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Table of Contents
- Introduction
- Definition, By Segment
- Research Approach
- Sources
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Porter’s Five Force Analysis
- Global Autonomous Mobile Robots Market Share Analysis and Matrix, 2020
- Key Market Insights and Strategic Recommendations
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