Mobile Robotics Market to Grow at 21.1% CAGR by 2030
Constant expanding applications of mobile robotics in different industries along with technological advancement followed by the rapid industrialization as well as high operational efficiency supported by growing automation are expected to drive the growth of mobile robotics industry during the forecast period of 2020-2030.
The Mobile Robotics Market is expected to grow at the CAGR of 21.1% from 2020-2030, according to a new research report by Next Move Strategy Consulting.
Mobile robotics is specially designed unmanned machine which can move from one place to another without human interference. These robots can work in any environment irrespective to climatic conditions followed by wide applications in different industries. These robots consist of various software & sensors to control its functions which helps them serve wide end users.
According to the report, there has been constant growth in technological advancement followed by the presence of developed infrastructure. There have been wide applications of mobile robotics in different industries mostly in construction & manufacturing followed by others. In addition growth in automation with growing demand for human safety has created the demand for mobile robotics. On the other hand, constant growth in industrialization followed by the growing demand for high operational efficiency is also like to enhance the market growth. Moreover, rapid growth of e-commerce along with the growth in warehouse & logistics services all around the world owing to the growth in trade practices is also anticipated the market growth. Although growing investments in the robotics can bring change in the market trends over the forecast period.
However, high cost associated with manufacturing of mobile robotics along with untested environment conditions can create a restrain in the market growth. Moreover, growth in research & development activities followed by innovation & strategic collaborations is anticipated to provide numerous opportunities to the market in the coming few years.
On the basis of product, the mobile robotics market share is segmented into AUV, UGV and UAV. UAV segment dominates the global mobile robotics market in terms of CAGR and will be the dominant during the forecasted period.
Based on component, the market is fragmented into hardware, support & service and software. Hardware segment is expected to account for the major market share and likely to fuel the market growth over the forecast period.
On the basis of application, the mobile robotics market is categorised into Logistics & Warehousing, Military & Defence, Healthcare, Domestic, Entertainment, Education, Agriculture & Forestry, and Others. Military & defence is expected to grow with significant CAGR over the forecast period owing to the development of safety surveillance in the military & defence industry.
North America is likely to account for the highest market size & share of the mobile robotics market in the forecast period 2020–2030 owing to the growing demand for high operational efficiency along with technological advancement followed by the presence of developed infrastructure. Europe accounts for the second leading position in the mobile robotics market size. Asia Pacific is expected to be the fastest developing region in the mobile robotics market which is majorly driven by the growing industrialization along with growing demand of automation. In addition, wide applications as well as high demand of human safety are expected to enhance the market growth.
According to the report, some the key players in the mobile robotics market are 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.
Browse key industry insights from the report at https://www.nextmsc.com/report/mobile-robotics-market in detail along with the table of contents:
Key Insights from the Mobile Robotics Market Report:
- Asia Pacific is the fastest growing Mobile Robotics market owing to the growing demand of automation followed by industrialization along with wide applications.
- The military & defence application dominates the segment and is expected to grow at significant CAGR to maintain the led in 2030.
- Some of the major players in the market are 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.
The report Mobile Robotics market – segmented by product, component, application and geography
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