In the upcoming years, the Delivery Robots Market is anticipated to increase significantly, according to a recent study by MarketsandMarketsTM. The market, which was valued at USD 0.4 billion in 2023, is anticipated to rise at an outstanding compound annual growth rate (CAGR) of 33.7% to reach USD 1.8 billion by 2028. According to the report, a number of things have contributed to this expansion, including the rise in venture capital funding for the market for delivery robots and the falling prices of last-mile deliveries. Additionally, the market for delivery robots is anticipated to have new growth prospects as the e-commerce industry expands internationally.

Due to their potential to increase operational effectiveness, cut costs, and provide prompt and convenient last-mile deliveries, delivery robot usage is on the rise. Delivery robots are improving in capability, dependability, and cost-effectiveness as a result of developments in robotics technology and greater investment in the field. The research emphasises how the market for delivery robots is expanding due to the rising demand for effective last-mile delivery solutions, particularly in the e-commerce sector. The market for delivery robots is growing as people depend more and more on online purchasing and demand dependable, automated delivery choices.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=263997316

Load Bearing Capacity (>50 Kg) Robots to account for a larger market share in 2023

Robots with a load-bearing capability of more than 50 kg are anticipated to hold a higher market share in 2023. These robots are essential for delivering bulky objects like groceries and online-ordered packages. They already had a market share of about 26% in terms of volume as of 2022. Examples include Nuro's R1, which can carry 125 kg of cargo, and JD.com's JDX, an autonomous delivery truck capable of transporting up to 300 kg. It's vital to remember that compared to robots with lower load-bearing capacities, those in this category are subject to a greater number of rules. Since they travel on roads instead of pavements, efficient traffic management is crucial to ensuring their safety.

The increased demand for effective and dependable methods of transporting heavy products is reflected in the growing market share of robots with load-bearing capacities greater than 50 kg. These robots provide a good last-mile delivery option as online shopping increases, especially for heavier items. Businesses are investing in the creation and deployment of these robots, and the rules governing their use are being modified to guarantee the effectiveness and safety of these larger-capacity delivery robots on public roads.

Hardware to hold a majority of the market share during the forecast period

The market for delivery robots is anticipated to continue to be dominated by the hardware segment during the time of the projection. In 2022, hardware accounted for around 70% of the market, mainly because the pricey parts, like LiDAR sensors and radars, were used. The prices of the robots' design and development are strongly influenced by these components. Particularly LiDAR sensors are essential since they offer the robot high-resolution, three-dimensional data about its surroundings. They enable the onboard computer system to choose the most secure route for autonomous driving by assisting the robot in locating people and objects, evaluating their movement speed and trajectory, and more. Additionally, LiDAR sensors provide a 360-degree picture, allowing the robot to comprehend driving-friendly locations, avoid obstacles, read road signs, and traverse hills.

Speak to Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=263997316

The significant role that cutting-edge parts like LiDAR sensors and radars play in the functionality and potential of delivery robots can be seen in the high market share of the hardware sector. Companies invest in hardware innovations that improve the robots' navigation, perception, and safety characteristics as the demand for effective and dependable autonomous delivery systems rises. These hardware developments have a significant impact on the delivery robots market and make it possible for robotic delivery systems to be successfully implemented across a variety of industries.

Retail segment to grow at the highest CAGR during the forecast period

In the market for delivery robots, the retail sector is anticipated to develop at the fastest compound annual growth rate (CAGR). Due to the rising need for effective last-mile delivery options, the use of delivery robots in the retail sector has significantly increased, especially for e-commerce applications. Delivery robots are well adapted to handle this task because last-mile delivery is a crucial and expensive stage of the supply chain. The e-commerce sector as a whole is expanding significantly, with an increase of 8–12% year over year (Y-o-Y). The retail industry presents a significant potential market for last-mile delivery applications using delivery robots, with an anticipated 300 billion items to be delivered yearly by 2030.

The rise of the retail segment in the delivery robots market is being driven by the increased requirement for effective last-mile delivery solutions and the rising demand for e-commerce. The retail sector is looking for creative solutions to optimise delivery procedures and offer a smooth customer experience as customers continue to embrace online shopping. By automating the last step of the delivery process, delivery robots provide a workable solution that lowers costs, speeds up deliveries, and increases overall effectiveness. Retailers are given a competitive edge by adopting delivery robots in the retail sector, allowing them to satisfy the changing expectations of their clients in the quickly expanding e-commerce market.

Browse For More Details - https://www.marketsandmarkets.com/Market-Reports/delivery-robot-market-263997316.html

Market in Asia Pacific to hold significant growth opportunities during the forecast period

During the projected period, the Asia Pacific region offers the market for delivery robots with considerable potential opportunities. The market in Asia Pacific is anticipated to expand at the greatest compound annual growth rate (CAGR), of 36.7%, reaching a value of USD 430.4 million by 2028. Robotic delivery systems are being tested and used in nations like Australia and Japan. With the amendment of its road traffic law to permit the use of automated delivery robots on public roads beginning in April 2023, Japan in particular achieved great progress. In Japanese urban areas, both residential and commercial, there have been tests of robots delivering food and other essentials.

As the need for delivery robots grows in the Asia Pacific area, there are abundant potential for market expansion. To increase the effectiveness of last-mile deliveries, governments and businesses are actively investigating the usage of delivery robots. The region's dedication to implementing novel delivery options is demonstrated by the regulatory support in Japan and the ongoing trials and testing in nations like Australia. Asia Pacific's market growth is being fueled by awareness of how delivery robots may simplify processes, boost effectiveness, and cut costs. The Asia Pacific area is positioned to emerge into a sizable market for delivery robots during the projected period as a result of an increasing emphasis on streamlining delivery procedures and exceeding client expectations.

Major vendors in the Delivery Robots market include Starship Technologies (US), JD.com, Inc. (China), Panasonic Holdings Corporation (Japan), Relay Robotics, Inc. (US), and Nuro, Inc. (US)—accounting for about 35–45% market share. Starship Technologies (US), JD.com, Inc. (China), among others.

News Covered:

https://www.prnewswire.com/news-releases/delivery-robots-market-worth-1-8-billion-by-2028---exclusive-report-by-marketsandmarkets-301763030.html

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Visit Our Website: https://www.marketsandmarkets.com