Selbyville, Delaware, May 03, 2023 (GLOBE NEWSWIRE) -- As per the report published by Global Market Insights Inc., the Global Delivery Robot Market was estimated at USD 500 Million in 2022 and is expected to surpass a valuation of $ 6 Billion by 2032, progressing at a CAGR of 25% from 2023 to 2032. The report provides a detailed analysis of top winning strategies, drivers & opportunities, competitive scenario, wavering market trends, market size, statistics & estimations, and major investment pockets.
Increasing use of delivery robots in the retail sector will shape market growth. According to a recent survey, around 25% of retailers already utilize robotics solutions in their business. Technological & legal developments triggered the replacement of traditional delivery methods with robotic alternatives. Moreover, the COVID-19 pandemic motioned the demand for contactless deliveries. In the retail sector, the use of service and delivery robots for in-store sales is expanding rapidly. Companies in the market are collaborating with technology firms and other manufacturers to introduce robots that can be used in retail settings and are profitable.
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Developments in robotic software for improved efficiency
Delivery robot market share from the software segment is expected to cross USD 1.5 billion by 2032. Robots can do the essential task by entering and processing data with the aid of software, which is like a set of rules for it to function properly. Companies are introducing delivery robots with advanced software systems. For instance, in October 2022, a Kochi-based startup, Rosversity, introduced NUE, a delivery robot. The company created a software suite to control and map the robots' memories. Fleet management software, which enables multi-robot navigation and management, is used to control the robot.
Key reasons for delivery robot market growth:
- Increasing use of delivery robots in the retail industry
- Growth in the hospitality and healthcare industries
- Increasing use of delivery robots in college campuses
- Rising e-commerce and online food industries
- Increasing government initiatives & investments in robot manufacturing companies
The use of compact 3-wheel robots across multiple verticals
In terms of the number of wheels, the delivery robot market share from the 3-wheel segment is predicted to record over 25% CAGR from 2023 to 2032. In the coming years, the 3-wheel robots are expected to expand owing to their multiple advantages. Improved mobility and the capacity to make quick turns make these robots highly preferable across various business verticals. These robots can precisely navigate spaces that a four- or six-wheeled autonomous robot cannot by rotating in place to change its direction of motion at a press of a button.
Deployment of delivery robots in retail sector to drive market expansion
Based on end-use, the delivery robot market share from the retail segment is anticipated to reach more than USD 1 billion by 2032. In the retail sector, delivery robots are being employed to increase worker productivity, cut labor costs, and make last-mile deliveries. Retailers can increase productivity across the board, from store operations to logistics and supply chain management. It allows them to enhance consumer relations by using delivery robots that move quickly from warehouses to storefronts.
These robots are also preprogramed to converse with clients, respond to their inquiries, and provide instructions. For instance, in April 2023, a convenience franchise store CU demonstrated an autonomous delivery robot by partnering with Mobinn, which is an in-house venture of the Hyundai Group. This robot uses the stairs and has the capacity to go up and down hills as well.
China using delivery robots in e-commerce and logistics verticals
Asia Pacific delivery robot market size is predicted to observe more than 30% CAGR from 2023 to 2032. The demand for delivery robots in the region will increase due to China's fast-expanding e-commerce economy and rising customer propensity for online shopping. The usage of delivery robots in business operations is a top priority for regional e-commerce and logistics firms. As of March 2022, the Alibaba Group's Xiaomanlv autonomous robots had delivered more than 10 million packages around China. More than 200 Chinese institutions have installed the company's robots, which are used to deliver packages sent via the Cainiao Post mailing system.
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Competitive sphere of the global delivery robot market share
JD.com, Alibaba Group, Kiwibot, Nuro, Relay Robotics, ST Engineering, and Starship Technologies are the principal players in the delivery robot industry. To obtain a competitive edge, businesses in the delivery robot industry are concentrating on joint ventures, acquisitions, and the introduction of new robots.
Partial chapters of report table of contents (TOC):
Chapter 3 Delivery Robot Industry Insights
3.1 Impact of COVID-19 outbreak
3.2 Impacts of the Russia-Ukraine war
3.3 Delivery robot industry ecosystem analysis
3.4 Technology & Innovation landscape
3.5 Patent analysis
3.6 Key news & initiatives
3.7 Regulatory landscape
3.8 Industry impact forces
3.9 Growth potential analysis
3.10 Porter’s analysis
3.11 PESTEL analysis
Chapter 4 Competitive Landscape, 2022
4.1 Introduction
4.2 Company market share, 2022
4.3 Major Market Players, 2022
4.4 Competitive positioning matrix
4.5 Strategic outlook matrix
Chapter 5 Delivery Robot Market, By Solution
5.1 Key trends, by solution
5.2 Hardware
5.3 Software
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
