Dublin, Aug. 07, 2023 (GLOBE NEWSWIRE) -- The "Mobile Robots Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)" report has been added to ResearchAndMarkets.com's offering.
The report forecasts remarkable growth in the global mobile robots market, estimating it to reach USD 18.48 billion by 2028, with a significant CAGR of 27.50% during the forecast period from 2023 to 2028. The market size is currently estimated at USD 5.48 billion for the year 2023.
Key Highlights
- The increasing demand for mobile robots is driven by the surge in e-commerce activity worldwide and their ability to maneuver autonomously in challenging situations. Factors like growing warehouse automation and the rising acceptance of mobile robots across various industries are expected to propel market expansion.
- The rising adoption of automated material handling and trends like lights-out automation will further drive market growth during the forecast period.
- The e-commerce industry's growth and the need for efficient warehousing and inventory management are major factors driving the demand for mobile robots. In China, the e-commerce share of total retail sales in consumer goods increased to 24.9% in 2020, compared to 20.7% in 2019. Similarly, the Indian e-commerce market is predicted to reach USD 200 billion by 2026, according to IBEF.
- Mobile robots have become increasingly popular in seaport terminals for container transport. These unmanned vehicles efficiently transfer containers between ships and storage locations on land, optimizing container terminal efficiency and reducing vessel waiting times.
- The need for social distancing in the workplace has accelerated the adoption of connected solutions and automation, with mobile robots, guided work solutions, and computer-controlled equipment playing a crucial role in ensuring smooth daily operations.
Mobile Robots Market Trends
- Autonomous Mobile Robots (AMR) to Drive Market Growth: The rise of autonomous mobile robots (AMRs) is posing a challenge to traditional automated guided vehicles (AGVs). AMRs offer more advanced, adaptable, and cost-effective technology for internal transportation tasks.
- The demand for autonomous robots has increased significantly due to their unique operational characteristics and applications in various sectors, including automotive and healthcare. The e-commerce industry's rapid growth has further driven the demand for AMRs to improve operational efficiencies in large warehouses and distribution centers.
- China, with its booming manufacturing industry, presents significant growth opportunities for the mobile robots market. The Chinese government's "Made in China 2025" initiative, aimed at developing high-tech industries like robotics and AI, provides momentum for market expansion.
- Several players have invested in expanding their production capacities in China, supporting the adoption of mobile robots in various commercial and industrial settings. Investments from Chinese investors and domestic robotics companies have been on the rise.
- The global e-commerce boom and the increasing labor costs have led the domestic warehousing industry in China to embrace automated equipment, including autonomous mobile robots, to enhance order fulfillment efficiency.
Mobile Robots Industry Overview
The mobile robots market is highly dynamic, featuring several companies competing for market share. Strategic decisions, such as new product launches, investments, and collaborations, are expected to shape the competitive landscape.
Some notable companies mentioned in the report include:
- Teradyne Inc (Mobile Industrial Robots ApS - MIR)
- Fetch Robotics
- JASCI LLC
- Aethon Inc.
- KION Group AG
- SCOTT TECHNOLOGY LIMITED
- Murata Machinery Ltd
- Toyota Material Handling US
- John Bean Technologies (JBT) Corporation
- 6 River Systems Inc
- inVia Robotics Inc.
- IAM Robotics LLC
- GreyOrange Pte Ltd
- Clearpath Robotics Inc.
- Geek+ Inc
- Omron Corporation
- Daifuku Co. Ltd
As the mobile robots market continues to witness significant growth and technological advancements, companies are advised to seize emerging opportunities and enhance their competitive advantage in this rapidly evolving industry.
For more information about this report visit https://www.researchandmarkets.com/r/vd0gi
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