Northbrook, IL 60062 -- (SBWire) -- 02/10/2023 --The Delivery Robots Market Report Share is estimated to be USD 212 million in 2021 and expected to reach USD 957 million by 2026, at a CAGR of 35.1% from 2021 to 2026.
Reduction in delivery costs in last-mile deliveries, and Increase in venture funding are the key factors driving the growth of the delivery robots market. Further, Worldwide growth of e-commerce market are factors propelling the growth of the delivery robots market.
The hardware component segment is estimated to register the largest market share during the forecast period
Hardware components held a larger share of the delivery robots market in 2020. The larger market share of hardware can be attributed to the costly components such as LiDAR sensors and radars. Broadly, hardware components are categorized into GPS; cameras; radars; ultrasonic/LiDAR sensors; control systems; chassis and motors; and others. However, the market for software components is expected to grow at a higher CAGR during the forecast period due to the increased demand for delivery robots with auto navigation and autonomous decision-making capabilities.
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4-wheeled delivery robot segment is estimated to register the largest market shareduring the forecast period
The delivery robots market for 4-wheeled delivery robots accounted for the largest market share in terms of value in 2020. North America has witnessed rapid growth in the market for 4-wheeled delivery robots as the extra wheel helps keep the robot more balanced. The cost of a 4-wheeled robot ranges from USD 3,000 to USD 5,000, depending on the deployment of different types of sensors and a variety of safety components to perform several tasks. Nuro is offering four-wheeled robots for delivering groceries, food orders, flowers, packages, and boxes, while Eliport is building a prototype robot with 4 wheels for various logistic applications. Hence, 4-wheeled delivery robots accounted for the largest market share.
APAC region expected to grow with the highest CAGR during forecast period
Rising awareness about the benefits of using delivery robots and the rapid inclusion of robotics in academic and educational institutions are expected to drive market growth. Apart from that, the absence of any regulations or regulatory bodies in APAC countries for operating delivery robots is also fueling the market growth.
Key Market Players
Key players operating in the delivery robots market are Starship Technologies (US), JD.com (China), Panasonic System Solutions Asia Pacific (Singapore), Savioke (US), Nuro (US), Amazon Robotics (US), Robby Technologies (US), Boston Dynamics (US), Robomart (US), and Eliport (Spain).
Delivery Robots Market Size, Global Forecast, Growth Drivers, Opportunities 2026