The autonomous mobile robots market is estimated to be valued at US$ 2.96 Bn in 2023 and is expected to exhibit a CAGR of 16% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Autonomous mobile robots are powered machines that can sense their environment and autonomously move around.They are used extensively in industrial environments to perform repetitive tasks such as transportation, packaging, distribution, and inspection. Some common applications of autonomous mobile robots include material handling in warehouses, delivering items in hospitals and facilities, and providing surveillance.
Market Dynamics:
One of the major drivers fueling growth of the autonomous mobile robots market is the growing trend of Industry 4.0 and automation of industrial processes. Autonomous mobile robots offer many advantages over conventional methods such as increased productivity and efficiency, reduced labor costs, and minimal human errors. They allow 24/7 operations and can perform high-risk tasks securely. Another driver is the rising demand from e-commerce and logistics industry. Autonomous mobile robots help streamline logistical operations and are increasingly used for order fulfillment in warehouses and distribution centers. Their adoption is growing to cope with rising demand and labor shortage.
Some opportunities assisting market growth include integration of AI technologies and use of collaborative robots. AI-powered autonomous robots with machine learning capabilities have more advanced navigation skills and decision-making abilities. Collaborative robots or cobots can operate safely alongside human workers, increasing their applicability across industries. Their adoption is rising with the aim of achieving maximum automation with minimum redesign of existing infrastructure and processes.
Here is the 700 words analysis for Autonomous Mobile Robots Market without conclusion:
Segment Analysis
The autonomous mobile robots market is dominatd by goods-to-person picking robots segment which holds around 35% share of the overall market. These robots pick inventory from warehouse shelves and deliver them to packing stations without human assistance. They help in improving the efficiency and throughput of order fulfillment in warehouses. With the growing demand for faster delivery of goods and increasing focus on automation in warehouses, the adoption of goods-to-person picking robots is increasing rapidly.
PEST Analysis
Political: Governments across countries are supporting automation and have formulated supportive policies and regulatory frameworks to encourage adoption of autonomous mobile robots. Economic: The cost of labor is increasing sharply while labor availability is decreasing. This is driving many organizations to adopt autonomous robots to improve productivity and reduce costs. Social: Younger workforce prefers more engaged and technologically advanced jobs. This has pushed many companies to automate routine and repetitive tasks through mobile robots. Technological: Advancements in artificial intelligence, sensing technology, navigation & localization solutions have enhanced the capabilities of autonomous mobile robots. This is facilitating their deployment across different application areas.
Key Takeaways
The Global Autonomous Mobile Robots Market Demand is expected to witness high growth, exhibiting CAGR of 16% over the forecast period, due to increasing labor costs and shortage of labor. The market size for autonomous mobile robots is projected to reach US$ 12 Bn by 2030 from US$ 2.96 Bn in 2023. North America captures around 35% share of the autonomous mobile robots market owing to strong technology adoption and large presence of product manufacturers in the region. Key players operating in the autonomous mobile robots are Aviation Industry Corporation of China, Clearpath Robotics, General Atomics Aeronautical Systems, Hi-Tech Robotic Systemz, Softbank Robotics, SMP Robotics, Aethon.
Regional analysis
Asia Pacific is expected to be the fastest growing regional market for autonomous mobile robots exhibiting a CAGR of over 18% during the forecast period. This can be attributed to increasing labor costs, rapid industrialization and favorable government policies supporting factory automation in major countries like China and India. China dominates the Asia Pacific market and captures around 35-40% share of the region's autonomous mobile robots market.
Key players
Key players operating in the autonomous mobile robots are Aviation Industry Corporation of China, Clearpath Robotics, General Atomics Aeronautical Systems, Hi-Tech Robotic Systemz, Softbank Robotics, SMP Robotics, Aethon. Clearpath Robotics, Softbank Robotics and Aethon are recognized as technology leaders in autonomous mobile robots space.
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