Global mobile robots market is projected to witness the growth at a decent CAGR during the forecast period (2018-2023).In addition, players are focusing on continuous product extension in order to be ahead of competition leads to innovations which, in turn, augment the mobile robots adoption.
Advent of latest technologies like control systems and sensors, electrical and electronics engineering and software have led to the development of new and advanced mobile robots. Geographically, Asia Pacific Mobile Robots market is expected to witness fastest growth over the projected period. Rapid industrialization and rising adoption of technologies, especially in emerging economies like India, China and South Korea, is driving the mobile robots market growth in this region.
High Initial Investment
The high initial investment needed to integrate mobile robots into business hampers the mobile robot market growth as it concentrates its customer base to organizations with high purchasing power and capital. Moreover, the need for periodic maintenance to sustain the robot performance adds on the financial burden which further restraints its market growth. Especially small and medium sized organizations find it difficult to afford such technology due to lack of resources and limited budget. Moreover, the high cost also restraints its adoption for home use, especially in middle class income group.
Mobile Robots Market By Type
By type, global mobile robots market is segmented as ground, aerial, and marine. Unmanned ground vehicles (UGVs) accounted for the largest market share of global mobile robotics market in 2016 owing to the escalating demand from industrial, defense, and healthcare sectors. The growing adoption of automation in warehousing and logistics industry will lead UGVs market to dominate the global mobile robotics market throughout the forecast period.
The market for unmanned aerial vehicles (UAVs) will grow at the highest CAGR during the projected period due to its increasing application in oil and gas sector and for pipeline security. Emerging trend of online shopping is forcing manufacturers to improve the delivery system by way of exploring new and innovative ways of delivering products in the fastest possible ways. Companies such as Amazon and Walmart have authorized license from FAA to test drone delivery system’s feasibility for commercial purposes. Thus, high investment in UAVs for delivery purposes will aid in the growth of UAVs market in the near future. Moreover, growing precision agriculture industry will further bolster the demand for drones over the forecast period.
The market for UGVs will grow at a CAGR of XX% during the forecast period to reach a total market size of US$XXX billion by 2022 from US$XXX billion in 2017. The market is majorly driven by increasing adoption of automated guided vehicles in warehousing and distribution sectors. Growing global e-commerce industry is providing a base for the growth of UGVs for warehousing and distribution applications to make supply chain more efficient, making on-time deliveries. These robots are also widely deployed in the defense sector for improvised explosive device (IED) handling and to accomplish missions in dangerous, inconvenient, and difficult situations. Healthcare sector is also demanding mobile robots for various operations. Aethon, a U.S-based company, provides TUG robots which are healthcare autonomous mobile robots. These robots are used to deliver medical tools, medicines, clothes, and waste removal from one place to the other.
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