Artificial Intelligence
Mobile Robots Market Size & Share Analysis – Growth Trends & Forecasts (2023 – 2028)
New York, Aug. 09, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Mobile Robots Market Size & Share Analysis – Growth Trends & Forecasts (2023 – 2028)” – https://www.reportlinker.com/p06484416/?utm_source=GNW
Due to increased e-commerce activity worldwide, demand for mobile robots is expanding. Due to their capacity to maneuver autonomously in challenging situations, factors such as growing warehouse automation and rising acceptance of these robots across various industries are further projected to drive market expansion. Furthermore, the rising adoption of automated material handling and trends like lights-out automation will likely drive market expansion throughout the projection period.
Key Highlights
The growth in the e-commerce industry and the need for efficient warehousing and inventory management worldwide are driving the market growth. For instance, according to the National Bureau of Statistics of China, the e-commerce share of total retail sales in consumer goods in China increased to 24.9% in 2020, compared to 20.7% in 2019. Moreover, according to IBEF, the Indian e-commerce market is expected to flourish from USD 38.5 billion in 2017 to USD 200 billion by 2026.
The factors such as decreasing costs, lower rates of transport, rising customer demand, and globalization of trade have caused a steady increase in the use of containers for sea-borne cargo. Consequently, container terminals have become an important component of logistic networks. It is paramount that ships are unloaded and loaded promptly at the port to satisfy customer demand.
Mobile Robots are increasingly becoming the popular mode of container transport in seaport terminals. These unmanned vehicles transfer containers between ships and storage locations on land. The e?ciency of a container terminal is directly related to the amount of time each vessel spends in the port. Hence, to maintain competitive advantage and increase the e?ciency of the container terminal, AGVs are being deployed that formulate good dispatching strategies and simultaneously enhance operational efficiencies.
With social distancing becoming more common in the workplace, connected solutions and automation assist in continuing daily operations. The use of Mobile robots, guides work solutions, and computer-controlled equipment has been regarded as necessary by companies in Honeywell’s Study. Moreover, warehouse execution software (48%), order picking technology (46%), and robotic solutions (44%) have been widely implemented solutions currently, which are also most expected to receive further investment soon.
Wireless communication systems in industrial environments must guarantee that the information is sent and received within precise time bounds. However, the nature of the radio channels and the medium access control (MAC) generates random communication delays. These delays can cause severe performance problems in automated guided vehicles for networked control systems.
Mobile Robots Market Trends
Autonomous Mobile Robot (AMR) to Witness the Market Growth
Until recently, traditional automated guided vehicles (AGVs) were the only option for automating internal transportation tasks. However, in the present day, autonomous mobile robots (AMRs) are posing a threat to AGVs with their more advanced, adaptable, and affordable technology.
Due to their unique operational characteristics and patterns, the demand for autonomous robots has increased significantly in recent times. Growth in the application of autonomous robots in different industrial sectors such as automotive and healthcare and raising awareness about the benefits of autonomous mobile robots fuel the demand for autonomous mobile robots. However, high costs associated with the setup and insufficient internet connectivity coverage might limit the adoption of autonomous mobile robots.
E-commerce has now emerged as the preferred mode of shopping for customers. The choices it offers, the user-friendly experience that it provides, and the convenience of shopping and paying for it from anywhere at any time are some of the factors that are driving the growth of the e-commerce industry. According to the International Trade Administration, global retail e-commerce sales are expected to reach USD 6.39 trillion by 2024.
Driven by the need to ensure timely delivery to their customers, who often expect instant gratification, and the resulting need to continually track and restock inventory of the goods, e-commerce companies are now using AMRs to improve the operational efficiencies of the big warehouses and distribution centers they operate. Thus, the rapid growth of the e-commerce business is contributing in a significant way to the growth of the AMR market.
Further, AMRs can adapt to different workflows, accommodate factory process changes, and allow integration with several top modules to meet payload requirements. This enables smart, reliable deliveries and optimizes overall processes. Consequently, AMRs are superior to AGVs regarding return on investment and productivity optimization.
China to Witness Rapid Growth
China has the world’s largest manufacturing industry, generating a significant share of market demand. Moreover, the country’s industrial output grew by 3.6% in 2022 from the previous year, as per the Ministry of Industry and Information Technology (MIIT), despite production and logistics disruptions from COVID-19 curbs. The output of the manufacturing sector was estimated to have risen by 3.1% in 2022, accounting for 28% of China’s gross domestic product (GDP), according to the MIIT.
Moreover, the Chinese government’s Made in China 2025 initiative, a state-led industrial policy that seeks to make China dominant in global high-tech manufacturing, provides significant growth momentum to the market. Made in China 2025 is a ten-year plan to update the country’s manufacturing base by rapidly developing ten high-tech industries. Chief among these are electric cars and other new energy vehicles, next-generation information technology (IT) and telecommunications, and advanced robotics and artificial intelligence. These sectors are also central to the fourth industrial revolution.
Increasing investments by many players in expanding their production capacities in the country is another important trend for the market. For instance, in December 2022, ABB officially opened its state-of-the-art, fully automated, and flexible robotics factory in Shanghai, China. The 67,000 m2 production and research facility represents a USD 150 million investment by the company and is likely to deploy the company’s digital and automation technologies to manufacture next-generation robots, enhancing ABB’s robotics and automation leadership in China. Moreover, there are no traditional, fixed assembly lines in the facility. Instead, intelligent, autonomous mobile robots connect to, network, and service flexible, modular production cells digitally.
As mobile robots continue to make their way into various commercial and industrial settings and new players enter the sector, the market has been drawing increasing investments from many Chinese investors. Domestic robotics companies have been benefiting from a significant increase in funds in recent years.
Moreover, with the rapid growth of e-commerce and the increasing costs of labor, the domestic warehousing industry is turning to automated equipment. For instance, to hasten the transition toward digitalization, the transport and logistics provider GEODIS invested in warehouse-based robotics and automation technology from Geek+ in November 2021. The move was partly a reaction to the sustained eCommerce boom and the requirement for swift order fulfillment. The company deployed the autonomous mobile robots (AMR) from Geek+ at its Yuen Long Warehouse Distribution Center (YLDC) in Hong Kong, SAR China.
Mobile Robots Industry Overview
The mobile robots market is fragmented and comprises several companies vying for attention in a fairly contested market space. Further, companies’ strategic decisions, such as new product launches, investments, and collaborations, are expected to change the competitive landscape.
For instance, in March 2023, WEG announced the launch of the first version of the WMR (WEG Mobile Robot), which aims to enhance the operational efficiency of activities carried out in industries that require internal transport.
On the other hand, in March 2023, PeakLogix announced its partnership with Peer Robotics to bring innovative robots to the material handling industry. Their collaborative autonomous mobile robot (AMR) is revolutionizing robotics and material movement with its ability to learn from humans in real-time, which facilitates the robot’s easy deployment across warehousing and manufacturing environments with no changes to existing infrastructure, even by facility staff who lack experience with robots.
Additional Benefits:
The market estimate (ME) sheet in Excel format
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