Westford, USA, May 22, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that Mobile Robots Market will attain a value of USD 107.1 billion by 2031, with a CAGR of 23.1% over the forecast period (2024-2031). Growing consumer demand for warehouse automation is a key factor driving the market expansion, as is the need for increased human safety. Other factors driving the market for mobile robots include the growing commercialization of the automated car concept as a result of robotics technology advancements, growing adoption of mobile robots by the military and defence, increasing use of mobile robots by end users in the agricultural and medical sectors to take advantage of their flexibility, and the increase in government funds and grants for mobile robots.
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Browse in-depth TOC on the “Mobile Robots Market "
- Pages - 157
- Tables - 63
- Figures - 69
Mobile Robots Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $20.31 Billion |
| Estimated Value by 2031 | $107.1 Billion |
| Growth Rate | Poised to grow at a CAGR of 23.1% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | End-User and Type |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the world |
| Report Highlights | Adoption of 4.0 Technologies in Mobile Robots Market |
| Key Market Opportunities | Rising E-commerce Industry |
| Key Market Drivers | Increased Demand to Meet Mobile Robots Application |
End-Use Segment to Hold the Highest Market Share Owing to Rise in Technological Advancements Enhancing Navigation Capabilities
Factors such as stringent safety regulations that boost need for self-governing structures, advancements in technology that enhance navigation abilities, in addition to averting market increase through various safety measures particularly in surveillance and inspection have helped a lot in maintaining global market control by mobile robots, though these are somewhat inferior to end-user domains like aerospace or security.
Demand for Technological Advancements Facilitating Swift and Precise Order Processing, Owing to High Focus on Mobile Robots Type
The need for more efficient warehouse operations due to growing e-commerce demands, ongoing technological advancements that enable quick and accurate order processing, and the need for cost-effective solutions in light of rising labour costs are some of the factors driving the adoption of robots for goods-to-person picking.
Increase in Constructing Automatic Warehouses Results in North America Holding Dominance
The increasing e-trade sales in the region could be responsible for transforming North America rapidly. This is in addition to the fast uptake of new technology, availability of leading manufacturers in that industry plus huge investments by regulatory authorities towards constructing automated warehouses and distribution hubs hence making the market more robust. The Asia-Pacific market is expected to experience significant growth in the years to come. This is due to the advertising strategies employed by strong and weak regional competitors that want to grow their market share and become more influential internationally.
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Mobile Robots Market Insight
Drivers:
- Developing the E-commerce Business to Operate in Support of Market Growth
- Increasing Adoption of Mobile Robots for Healthcare and Personal Use
- Increased Demand to Meet Changing Needs
Restraints:
- Limited Suitability of Mobile Robots in Unstructured Environments
- Cost of Purchasing Market Tools and Using the Services Provided
- Integration of Mobile Robots with Existing System
Prominent Players in Global Mobile Robots Market
- Stanley Robotics (US)
- Vecna Robotics (UK)
- Fetch Robotics, Inc. (US)
- SoftBank Robotics (France)
- SESTO Robotics. (Singapore)
- IAM Robotics (US)
- AutoGuide Mobile Robots (UK)
- HAHN Robotics GmbH (Germany)
- NextShift Robotics (US)
- Robotnik (Spain)
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Key Questions Answered in Global Mobile Robots Market Report
- Which major factors are expected to fuel the global mobile robots market's anticipated expansion by 2031?
- What effects are technical developments having on the usage of mobile robots in warehouse operations for person-to-person picking of goods?
- Which geographical areas presently dominate the market for mobile robots, and what factors support this dominance?
This report provides the following insights:
- Analysis of key drivers (Increased growth in the e-commerce industry, warehouses & distribution centers to focus from manual to automated, robotic parts & controllers for various applications and LiDAR sensors launching for anti-collision applications), restraints (current designed robots are not capable of anything, limitations of real-world robotics and mobile robot challenges in sensing, navigating, & manipulating unstructured environments), opportunities (adapting to consumers' shifting purchasing habits, top e-commerce companies integrate autonomous technology and e-commerce sector's exponential growth & distribution center operators), and challenges (Using mobile robots in a variety of departments & industry verticals and cost of mobile robot & using it in Specific manner) influencing the growth of mobile robots market
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the mobile robots market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the mobile robots market
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
Related Reports:
Robotics Market
Delivery Robots Market
Artificial Intelligence (AI) Robots Market
Warehouse Robotics Market
Smart Robot Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
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