Autonomous Mobile Robot (AMR) Market is expected to reach USD 3.13 billion by 2030
Growing adoption of robotics, increasing popularity of Industry 4.0 and integration of advanced vison technologies such as LiDAR and 3D vision in AMRs contribute significantly to the growth of the global AMR market.
According to a new research report by Next Move Strategy Consulting (NMSC), the Global Autonomous Mobile Robot (AMR) market was valued at USD 1.02 billion in 2022, and is expected to reach USD 3.13 billion by 2030, at a CAGR of 14.2% during the forecast period.
The growth of Autonomous Mobile robot (AMR) market is driven by the growing adoption of robotics in various industries such as automotive, electronics, and foods & beverages. According to the 2021 World Robot Report, the global average robot density in manufacturing industries has doubled in the past five years, with 126 robots per 10,000 employees.
This increasing trend indicates the growing importance of automation and need for more advanced robotics technologies, such as autonomous mobile robots, to optimize industrial processes such as material handling and transportation of goods, improve efficiency, and reduce costs. In addition, the ability of these robots to navigate their surroundings autonomously makes them highly efficient and cost effective.
Moreover, leading market players are taking several approaches to further improve their AMR products. For instance, In March 2022, Geek+ and Bosch Rexroth collaborated to create a unique version of Geek+'s MP1000R Autonomous Mobile Robot (AMR). This collaboration involved integrating Bosch Rexroth's laser localization software called ROKIT Locator into the AMR. As a result, these robots could automatically distribute materials to the production line in the Bosch Rexroth plant located in Changzhou, China.
The integration of ROKIT Locator with Geek+'s simultaneous localization and mapping (SLAM) technology enables the AMRs to operate seamlessly in manufacturing scenarios, making them perfectly suited for such environments. This innovative solution enhanced the efficiency and productivity of the manufacturing process at the plant. Such developments are further fueling the growth of autonomous mobile robots market.
Furthermore, the increasing popularity of Industry 4.0 is a significant driving force behind the growth of the Autonomous Mobile Robot (AMR) market. Industry 4.0 represents a paradigm shift in industrial manufacturing, characterized by the integration of advanced technologies such as the Internet of Things (IoT), artificial intelligence (AI), and automation. This integration enables the creation of smart and connected industrial facilities, where AMRs play a pivotal role. AMRs are essential components of Industry 4.0, as they leverage these advanced technologies to deliver flexible, autonomous, and efficient solutions for material handling, logistics, and intralogistics operations. By incorporating IoT capabilities, AMRs can communicate and exchange data with other devices and systems, enabling seamless coordination and collaboration within the manufacturing ecosystem. The integration of AI empowers AMRs with intelligent decision-making capabilities, allowing them to adapt to dynamic environments, optimize routes, and perform complex tasks with precision.
In addition, automation plays a crucial role in Industry 4.0 by automating various processes, and AMRs serve as key enablers of this automation, autonomously performing tasks such as goods transportation, inventory management, and assembly line support. As Industry 4.0 continues to gain popularity across industries, the demand for AMRs is expected to grow significantly, as they provide the necessary capabilities to drive efficiency, productivity, and agility in smart manufacturing facilities.
On the contrary factors such as high cost of implementing autonomous mobile robots (AMRs) limits the growth of the market. High costs make it challenging for small and medium-sized enterprises to adopt the technology, thereby hampering the market growth. However, advancements in sensor technology such as development of depth cameras, and inertial measurement units (IMUs) that provides detailed information about surroundings of the AMRs, such as distance to obstacles, angular rate, location of objects, and orientation of robots is expected to provide ample growth opportunities for the market.
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According to the report, leading players operating in the Autonomous Mobile Robot (AMR) market include Geekplus Technology Co., Ltd, GreyOrange, Omron, ABB, Mobile Industrial Robots A/S, Locus Robotics, Iplusmobot, Seegrid, Otto Motors, and Shanghai Seer Intelligent Technology Corporation among others.
Key Insights from the Autonomous Mobile Robot (AMR) Market Report:
The information related to key drivers, restraints, and opportunities and their impact on the Autonomous Mobile Robot (AMR) market is provided in the report.
The value chain analysis in the market study provides a clear picture of the role of each stakeholder.
The market share of the players in the global Autonomous Mobile Robot (AMR) is provided in the report market along with their competitive analysis.