NEW YORK, March 16, 2020 (GLOBE NEWSWIRE) -- From $29.3 billion in 2019, the autonomous mobile robots market revenue is predicted to surge to $220.6 billion by 2030, at an 18.3% CAGR during 2020–2030 (forecast period). The service category, based on offering, would witness the highest CAGR in the coming years. This can be credited to the increasing requirement for robotic assistance in various processes, in countries such as China, the U.S., South Korea, Japan, India, and Germany.
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Logistics, on the basis of end user, would grow considerably in the autonomous mobile robots market during the forecast period, as a result of the expanding e-commerce sector, which is leading to the rapid deployment of robots to enhance operations at warehouses. With the growing online order volume, e-commerce firms are acquiring manufacturers of AMRs; for instance, Kiva Systems was acquired by Amazon.com Inc. in 2012. Since then, Amazon has deployed 20,000 robots in its warehouses.
A key factor behind the prosperity of the autonomous mobile robots market is the increasing requirement for process automation. Manufacturing operations are becoming more complex, while labor is either costly or not abundant in several places. Despite all these challenges, companies are looking to increase their productivity, which is leading them to adopt AMRs. For instance, automakers are using these robots for assembly operations which involve flexible parts. Similarly, in the logistics sector, AMRs are being utilized for transportation and loading.
The key players in the autonomous mobile robots market can take advantage of the opportunities created by the surging preference for such robots in agricultural applications. The agrarian community is modernizing and automating its practices by using AMRs. Additionally, these robots have also become necessary in these times of lack of farm laborers and booming population. The rapid rise in the number of people is leading to the escalating demand for produce, which is pushing farmers to improve their yield, at the same time, reducing their operational costs.
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Unmanned ground vehicles, on the basis of robotic system, held the largest revenue share in the autonomous mobile robots market in 2019. This was a direct result of the rising incorporation of these systems in warehouse and logistics operations, where they are used to store and place the objects. Compared to humans, these AMRs can work for long hours, and they are also easy to control. This results in higher productivity, reduced operational costs, and substantial time saving.
In the coming years, Asia-Pacific (APAC) would observe the fastest autonomous mobile robots market growth, on account of the rising e-commerce sales in India, China, South Korea, and Japan. The expanding e-commerce industry is resulting in increasing complexities in the supply chain. Therefore, in order to make their operations streamlined, numerous e-commerce firms in the region are purchasing AMRs.
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Due to a number of regional and global companies, the autonomous mobile robots market is highly fragmented. Omron Corporation, KUKA AG, Clearpath Robotics Inc., Teradyne Inc., and Fetch Robotics Inc. are some of the prominent industry players. Mergers & acquisitions, product launches, partnerships, and facility expansions have been the major strategic measures taken by the companies for consolidating their position. For example, OMRON Corporation introduced its new LD-250 AMR in the market November 2019.
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