Mobile Robotics Market is valued around USD 11.32 Billion in 2019 and expected to reach USD 93.84 Billion by 2030 with the CAGR of 21.2% over the forecast period.
Mobile robotics is specially designed machine to serve various different functions in different such as lifting, stacking and other activities. These machines are meant to work independently on the command given to them by means of sensors & software and also allow them to reduce human effort along with time followed by quality work. It can work in different environment & medium as per requirement with several advantages.
Global Mobile Robotics Market report is segmented on the basis of product, component, application and regional. Based upon product, the mobile robotics market is fragmented into AUV, UGV and UAV. On the basis of component, the market is categorized into hardware, support & service and software. Based on application, the market is categorized into Logistics & Warehousing, Military & Defence, Healthcare, Domestic, Entertainment, Education, Agriculture & Forestry, and Others. The regional bifurcation of countries includes North America, Europe, Asia-Pacific, and RoW which are further segmented into major countries such as U.S., UK, France, and others.
The mobile robotics market is mainly driven by the constant expansion of wide application in different industries. There has constant technological advancement along with growing demand for automation in industries has created the demand for mobile robotics. There has been presence of developed infrastructure along with high demand of human safety at workplace supported by growth in industrialization. In addition, high demand of operational frequency as well as growth in warehousing & logistics services with rise growing integration of advanced technology such as IoT, artificial intelligence further added by new product launches in the market is projected the market growth. However, high manufacturing cost of mobile robotics along with untested weather conditions may inhibit the market growth in the near future.
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The developed regions such as North America and Europe are expected to hold the major market share owing to the presence of major market players in the region followed by technological advancement. In addition, high demand of operational efficiency as well as presence of developed infrastructure supports the market growth. Asia Pacific is expected to dominate the mobile robotics market in terms of growth rate owing to surge in industrialization activities followed by growth in automation on a large scale. Moreover, wide applications in different industries with high adoption rate are likely to contribute the market growth.
The major market players profiled in the mobile robotics market includes Boston Dynamics, Amazon Robotics, Honda Motor Co. Ltd, Kuka AG, iRobot Corporation, Lockheed Martin Corporation, Kongsberg Maritime, Softbank Robotics, Ubtech Robotics Inc. and Northrop Grumman Corporation among others.
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