Mobile Robots Market Size Forecast to Reach $54.2 Billion by 2026

(I-BusinessNews.Com, August 07, 2021 ) Mobile Robots Market is forecast to reach $54.2 billion by 2026, growing at a CAGR 20.0% from 2021 to 2026. Autonomous Mobile robot is an integration of artificial intelligence with physical robots, and has a locomotive feature, which ensures that they have the capacity to navigate around physically. They are powered by fleet management software and use sensors and other gears to identify and understand their surroundings. Robot technology is experiencing increased acceptance in different commercial and industrial environments. Hospitals, for example, are now using autonomous mobile robots to move supplies and monitor patient health. The military & defense sector uses trained support robots that are used in battle scenarios. In addition, mobile robots improve the skills of the soldier by providing the soldiers an advantage on the ground. In addition, field robot, a professional service robot, is used in this sector for a number of tasks, such as transporting heavy equipment, working in life-threatening circumstances to protect troops and retrieving injured soldiers in conflict zones. Global mobile robots market is driven by the need for low latency, fast computing, and less dependency on cloud-based AI for critical applications particularly In autonomous ground vehicles.

Mobile Robots Market Segment Analysis – By Product

The autonomous Ground Vehicle segment is expected to grow at a higher CAGR of 24.1% during the forecast period. Unmanned vehicles are mostly used in the defense sector to provide ammunition to troops during combat situations, to carry out relief operations during disasters, and to track and detonate explosives. Furthermore, the use of autonomous Ground Vehicles in the commercial sector is growing as they can be used to perform tasks such as perimeter protection in dangerous areas, evacuation operations during disasters, and handling of hazardous materials. The rise of the autonomous Ground Vehicles is also attributed to strong demand in the Americas, due to growing terrorism attacks and the ongoing war with ISIS. The increasing use of thermal imaging cameras to ensure the autonomous navigation of UGVs is expected to further fuel the demand for mobile robots.

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Mobile Robots Market Segment Analysis – By Application

The Domestic segment is expected to grow at a higher CAGR of 23.5% during the forecast period. The advancement of artificial intelligence and IoT has brought a new dimension on how robots can communicate and function with humans. The development and advancement of MEMS and proximity sensors and the enhancement of visualization technologies have also increased the performance and accuracy of autonomous mobile robots. The growth of the mobile robot market for domestic applications is motivated by creativity and modernization in the field of robotics. Technological advances and research efforts have led to the creation of domestic cleaning robots, which enable humans to perform mundane tasks.

Mobile Robots Market Segment Analysis – By Geography

North America is expected to dominate the global Mobile Robots market with a share of more than 37% during the forecast period. Demand for mobile robots is increasingly growing in the region due to factors such as increasing internal and external security risks associated with increased terrorist attacks and the increasing use of mobile robots for patrolling intruders or enemy forces. In addition, the presence in the region of major autonomous mobile robot manufacturing firms, such as Applied Geo Technologies and macroUSA, also favors the adoption of mobile robots in the country. Apart from that, the US boasts the largest military expenditure in the world. The implementation of unmanned systems, in particular autonomous ground vehicles and unmanned aerial vehicles, is growing dramatically in the United States. The country’s defense industry therefore also poses a significant need for mobile robots.

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Mobile Robots Market Drivers

Emergence of industry 4.0 in warehousing and logistics

Increased networking of industrial production needs more intelligent technologies in the field of logistics. The Emergence of Industry 4.0 in Logistics and Warehousing is on the rise due to the growing modernization of the devices used and its operation. Development of industry 4.0 provides an inter-connectivity between the computers and their production. It also enables autonomous production methods enabled by the Internet of Things (IoT). For example, according to the PICK-PLACE web platform, 45% of the 200 leading global trading companies deployed robotics systems in order fulfillment, storage and delivery operations by 2018.

Surge in adoption of mobile robotics in agriculture

One of the main developments that has a positive impact on the global mobile robotics industry is the adoption of mobile robots in the agriculture sector. Farmers are using robotic technology to sustain efficiency and increase yields. For example, harvesting management is the most commonly used application in agricultural autonomous mobile robotics, since it plays a vital role in recognizing field variability and allows farmers to increase their yield. In addition, autonomous mobile robots (AMRs) are using advanced 3D vision systems and flexible grips are used to automate the pick-up process.

Mobile Robots Market Challenges

High Initial Acquisition Cost

High installation costs and integration capabilities needed for the initial installation of mobile robotics limit their adoption. The initial investment and operating costs of the use of robotic systems are high due to the combination of high-quality hardware and an efficient software control system. The need for high initial investment restricts the use of mobile robotics in various industries, such as healthcare, logistics, education, agriculture and others, thus hindering the growth of the market.

Mobile Robots Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in Mobile Robots Market. Mobile Robots Market is expected to be dominated by major companies such as Aethon, Aviation Industry Corporation of China, Clearpath Robotics, General Atomics Aeronautical Systems, Softbank Robotics, Hi-Tech Robotic Systems, SMP Robotics, among others.

Acquisitions/Technology Launches

In March 2019, SoftBank Robotics Group Corp. (“SBRG”) announced a strategic partnership with the Chinese Qingdao Haier Co. Ltd (“Haier”), the world’s No. 1 major appliances brand of the Haier Group, with plans to cooperate on developing and utilizing service robots in China, including a special version of SBRG’s humanoid robot ‘Pepper’ for Haier’s ‘Smart Home’, a solution that helps the household appliances interconnect through IoT. .
In September 2019, Rheinmetall, a Germany-based defense contractor, had partnered with the WB Group from Poland, in order to integrate the Mission Master autonomous UGV with Warmate micro combat UAV.

Key Takeaways

The global demand for mobile robots is powered by the need for low latency, fast computing and less dependency on cloud-based AI for critical applications.

Unmanned vehicles are often used in the defense sector to supply ammunition to troops during war conditions, to carry out emergency relief operations, and to detect and detonate explosives.

The growth of the mobile robot market for domestic applications is motivated by creativity and modernization in the field of robotics. Technological advances and research efforts have led to the creation of domestic cleaning robots, which enable humans to perform mundane tasks.

North America is expected to dominate the global autonomous Mobile Robots market during the forecast period.

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