Mobile Robotics Market (Type - Unmanned Ground Vehicles, Unmanned Aerial Vehicles, Unmanned Surface Vehicles, and Autonomous Underwater Vehicles; Application - Industrial and Service) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025
Albany, NY -- (SBWIRE) -- 07/20/2017 -- Global Mobile Robotics Market: Snapshot
With the escalating need for industrial mobile robots to enhance workplace efficiency, the global market for mobile robotics is registering a significant progress in its size and valuation. These mobile robots have the ability to move inside the factories without modifying the factory layout and they can also re-plan their routes autonomously to avoid obstacles, which make them highly effective in the factory setup. Owing to these factors, companies are prompted to deploy mobile robots in their plants, which is reflecting greatly on the sales of mobile robotics.
Over the coming years, the significant increase in labor costs, aging workforce, and the rising demand for productivity are expected to drive the growth of the global market for mobile robotics remarkably. However, the high initial investment may limit the uptake of these robots, which may impact the overall market negatively in the near future.
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In 2016, the total opportunity in the global mobile robotics market was US$8.58 bn. Analysts expect it to report a substantial rise at a CAGR of 15.60% between 2017 and 2025, reaching US$30.96 bn by the end of 2025.
Demand for Unmanned Ground Vehicles to Remain Strong
Based on the type of mobile robots, the global market for mobile robotics has been classified into unmanned ground vehicles, unmanned aerial vehicles, unmanned surface vehicles, and autonomous underwater vehicles. Currently, unmanned ground vehicles are the most preferred ones among all and are expected to witness constant high demand over the next few years, thanks to the increasing usage of mobile robots in the defense sector to accomplish missions in dangerous, inconvenient, and difficult situations.
Unmanned aerial vehicles are also projected to witness a substantial rise in their demand over the next few years, thanks to the rising awareness regarding its usage in agriculture practices, border surveillance, and law enforcement.
Asia Pacific to Continue Leading Global Mobile Robotics Market
Geographically, the worldwide market for mobile robotics is categorized into Latin America, North America, Asia Pacific, Europe, and the Middle East and Africa. With a share of 32.20%, Asia Pacific dominated the global market in 2016. Thanks to the increasing investment in defense and logistics sectors, the adoption of mobile robots is likely to augment remarkably in Asia Pacific, influencing the overall market in the near future.
North America is also projected to witness a healthy rise in its market for mobile robotics over the next few years. The growing demand for domestic robots, such as vacuum and floor cleaning robots, lawn mowing robots, and entertainment and leisure robots is expected to boost the North America market for mobile robotics in the coming years. The U.S. and Canada have emerged as the leading domestic markets for mobile robotics in this region.
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The Europe market for mobile robotics is anticipated to gain considerably in the near future from the augmenting demand for mobile robots in warehouse automation. Apart from this, the rising adoption of these robots in various industries, such as the medical, defense, and the agriculture, is also projected to boost this regional market over the forthcoming years.
The key players in the global mobile robotics market are iRobot Corp., Barrett Technology, Swisslog, John Deere, FANUC Corp., KUKA AG, Honda Motor Co. Ltd., Boeing Co., Seegrid Corp., Google Inc., Northrop Grumman Corp., Lowe's Co. Inc, Amazon, Fetch Robotics Inc., Omron Adept Technologies, Clearpath Robotics Inc., Bossa Nova Robotics, Savioke, Aethon Inc., and Locus Robotics.