Autonomous Mobile Robots Market Size to Hit USD 8.70 Billion by 2028 | Exhibit a CAGR of 23.7%

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Autonomous Mobile Robots Market to Exhibit a Significant Growth Rate; Thriving E-commerce Industry to Incite Development: Fortune Business Insights™

Autonomous Mobile Robots Market

Autonomous Mobile Robots Market Size and Share Analysis
Autonomous Mobile Robots Market Size and Share Analysis

Pune, India, Feb. 23, 2023 (GLOBE NEWSWIRE) — The global autonomous mobile robots market size was valued at USD 1.67 billion in 2020 and it’s expected to grow from USD 1.97 billion in 2021 to USD 8.70 billion by 2028, exhibiting a CAGR of 23.7% during the forecast period. The high dependency on automation to manage supply chain ecosystem coupled with booming e-commerce industry will bolster the autonomous mobile robots market growth in the forthcoming years. Fortune Business Insights™ presents this information in its report titled “Autonomous mobile robots Market, 2021-2028.”

Autonomous mobile robots (AMRs) are self-navigating robots that can perform various tasks in a range of industries, including manufacturing, warehousing, logistics, and healthcare. These robots use sensors, cameras, and artificial intelligence to navigate and interact with their surroundings, making them an efficient and cost-effective solution for businesses to improve productivity and reduce labor costs.

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Report Highlights:

Report Coverage Details
Forecast Period 2021-2028
Forecast Period 2021 to 2028 CAGR 23.7
2028 Value Projection USD 8.70 billion
Base Year 2020
Market Size in 2021 USD 1.97 billion
Historical Data for 2017-2019
No. of Pages 104
Segments covered Autonomous Mobile Robots Market Size, Share & COVID-19 Impact Analysis, By Type (Goods-to-person Picking, Self-driving Forklifts, Autonomous Inventory Robots and Unmanned Aerial Vehicles), By Application (Sorting, Pick & Place, Tugging, Warehouse Fleet Management and Others), By End-User (Warehouse & Distribution Centers and Manufacturing) and Regional
Growth Drivers Rising E-commerce Industry to Boost Industry Growth
  Introduction of Sophisticated Technologies Embedded in Robots is a Prominent Trend

Drivers and Restraints:

Surging E-commerce Industry to Foster Growth

The flourishing e-commerce is expected to create lucrative opportunities for the global market. The E-commerce industry allows warehouses and distribution center owners to improvise their operational workflow from manual to automation to meet the changing consumers’ buying patterns. For instance, In February 2020, The U.S. Department of Commerce reported 16.0% of total retail sales on the online platform. Also, data showcased from online sales data, e-commerce sales from May to June were approximately 40% higher than the pre-pandemic benchmark week of February to March.

Furthermore, the integration of autonomous mobile robots in the supply chain by major e-commerce companies will augur well for the autonomous mobile robot’s market. For instance, in December 2020, a Southern California Fulfillment Center, Sam’s Club integrated GreyOrange autonomous mobile robots in its e-commerce orders. This would help to optimize the processes allowing associates more time to upscale their skills for other applications. According to Sam’s Club’s estimation, e-commerce sales of the firm will hit USD 363 million at the end of the third quarter of 2020, compared to USD 277 million the previous year.

COVID-19 Impact:

Essential Strategies Adopted by Companies to Favor Market amid Coronavirus

The shortage of workforce due to coronavirus has disrupted many industries’ supply chain, which has affected the global market. Companies are continually striving to educate their employees with robotics to utilize robots in operations seamlessly. Moreover, prominent players have adopted marketing strategies such as mergers & acquisitions, joint ventures, collaborations, and advanced robotic solutions to generate revenue during the pandemic. For instance, in February 2021, Verizon, an American multinational telecommunications conglomerate, announced that it had signed a definitive agreement to acquire incubed IT, a software platform creator to administer, manage and optimize mixed fleets robots in industrial settings. This agreement will help the companies to utilize new efficiencies in their autonomous mobile robot fleets.

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Report Coverage:

The report has been prepared meticulously through quantitative and qualitative assessments to offer a comprehensive market view. Notably, many primary interviews have been conducted with major stakeholders and suppliers. Primary data has been collected through questionnaires, telephonic conversations and emails. Moreover, the report also includes secondary sources, such as government websites, SEC filings and press releases. The report also gives an in-depth view of market size, share, revenue, volume and delves into SWOT analysis.

Segmentation:

Self-driving Forklifts to Dominate the Market

Based on the type, the market is classified into goods-to-person picking robots, self-driving forklifts, autonomous inventory robots, and unmanned aerial vehicles. The self-driving forklifts segment is expected to rise exponentially during the forecast period due to the rising e-commerce industry. Also, rapid technological advancement in data connection boosts the demand for real-time delivery and smart mapping, in turn aiding the segment’s growth.

Based on application, the market is divided into sorting, pick & place, tugging, warehouse fleet management, and others. Pick & place segment is expected to hold the highest share owing to rising labor costs in developed and developing economies.

Based on the end-user, the market is categorized into warehouses & distribution centers, and manufacturing. Warehouses and distribution centers segment are expected to grow at a significant rate due to increasing e-commerce sales.

Regional Insights:

Adoption of Advanced Technologies to Enable Growth in Asia Pacific

Geographically, the market is classified across five major regions, namely, North America, South America, Europe, the Middle East, and Africa, and Asia Pacific.

Asia Pacific is expected to experience a rapid growth rate during the forecast period. The growth is attributed to the presence of players in the region. China, Japan, South Korea, India, and others are integrating advanced technologies, mainly 5G networks, AI-based route mapping and localization, and others are creating opportunities for the market in Asia Pacific.

Europe is expected hold a significant autonomous mobile robots market share during the forecast period due to the increasing sales, service and support, deployment, and training services in the European countries. For instance, in December 2020, AutoGuide Mobile Robots expanded its European operations and setup office in Munich, Germany, to deliver the highest level of support for their distributors and customers. Moreover, massive investments by governmental agencies for smart factories and Industry 4.0 will aid growth in Europe. 

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Key Industry Development:

July, 2020: Omron Automation Americas expanded its autonomous material transport solutions by introducing heavy-duty mobile robots for large payload capacity applications.

The Report Lists the key Players in the Autonomous Mobile Robots Market:

  • Material Handling Systems. (United States)
  • Fetch Robotics, Inc. (United States)
  • IAM Robotics (United States)
  • NextShift Robotics (United States)
  • Stanley Robotics (United States)
  • Robotnik. (Spain)
  • SESTO Robotics. (Singapore)
  • HAHN Robotics GmbH (Germany)
  • Vecna Robotics (United Kingdom)
  • AutoGuide Mobile Robots (England)
  • SoftBank Robotics (Paris)

Autonomous Mobile Robots Market Segmentation:

By Type:

  • Goods-to-person Picking Robots
  • Self-driving Forklifts
  • Autonomous Inventory Robots
  • Unmanned Aerial Vehicles

By Application:

  • Sorting
  • Pick & Place
  • Tugging
  • Warehouse Fleet Management
  • Others

By End-User

  • Warehouse & Distribution Centers
  • Manufacturing

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Major Table of content:

  • Introduction
    • Definition, By Segment
    • Research Approach
    • Sources
  • Executive Summary
  • Market Dynamics
    • Macro and Micro Economic Indicators
    • Drivers, Restraints, Opportunities and Trends
    • Impact of COVID-19
      • Short-term Impact
      • Long-term Impact
  • Competition Landscape
    • Business Strategies Adopted by Key Players
    • Consolidated SWOT Analysis of Key Players
    • Porter’s Five Force Analysis
    • Global Autonomous Mobile Robots Market Share Analysis and Matrix, 2020
  • Key Market Insights and Strategic Recommendations
  • Profiles of Key Players (Would be provided for 10 players only)
    • Overview
      • Key Management
      • Headquarters etc.
    • Offerings/Business Segments
    • Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
      • Employee Size
      • Key Financials
        • Past and Current Revenue
        • Gross Margin
        • Geographical Share
        • Business Segment Share
    • Recent Developments
  • Primary Interview Responses
  • Annexure / Appendix
  •  
    • Global Autonomous Mobile Robots Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
      • By Type (USD Bn)
        • Good-to-person Picking Robots
        • Self-driving Forklifts
        • Autonomous Inventory Robots
        • Unmanned Aerial Vehicles
      • By Application (USD Bn)
        • Sorting
        • Pick & Place
        • Tugging
        • Warehouse Fleet Management
        • Others
      • By End-User (USD Bn)
        • Warehouse & Distribution Centres
        • Manufacturing
      • By Region (USD Bn)
        • North America
        • South America
        • Europe
        • Middle East and Africa
        • Asia Pacific
    • North America Autonomous Mobile Robots Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
      • By Type (USD Bn)
        • Good-to-person Picking Robots
        • Self-driving Forklifts
        • Autonomous Inventory Robots
        • Unmanned Aerial Vehicles
      • By Application (USD Bn)
        • Sorting
        • Pick & Place
        • Tugging
        • Warehouse Fleet Management
        • Others
      • By End-User (USD Bn)
        • Warehouse & Distribution Centres
        • Manufacturing

TOC Continued…

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