Global Mobile Robotics Market to rise at a CAGR of 15.60% during 2017-2025 - Reaching US$30.96 bn by the end of 2025

Mobile robots are automated machines that are mobile. These robots are capable of moving around without following a fixed path as compared to traditional robots. The rising concern over workspace efficiency is one of the major drivers for the mobile robotics market. In addition, the mobile robotics is also being adopted in defense industry. The mobile robots are extensively used in defense applications such as surveillance, security and inspection. In 2015, the Department of Homeland Security, U.S. announced a USD 4 trillion budget proposal for fiscal year 2016. Furthermore, The Pentagon also had plans of spending USD 2.9 billion for acquiring unmanned robotic systems. Moreover, the mobile robots are also expected to replace human soldiers in future. Furthermore, implementation of mobile robotics in China is also aiding to the growth of the market significantly.

The increasing demand for efficient manufacturing in China is leading to government initiatives being taken to equip the factories with advanced mobile robots. The province of Guangdong, China has decided to invest USD 154 billion to install mobile robots. Furthermore, major manufacturers like Foxconn also plan to install more than a million robots in the next few years. China is world’s leading producer of a majority of items ranging from clothes to electronics. However, the country primarily depends on low cost and low skilled labors. The rising labor wages and slow economic growth has prompted the government to diversify its workforce and make the manufacturing facilities technology advanced. This factor has resulted into the increasing adoption of mobile robots in manufacturing industries.

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However, one factor limiting the demand for mobile robotics is the high cost for installation of these robots. Furthermore, purchasing an automated guided vehicle (AGV) is very costly when compared to hiring personnel or buying equipment. In addition, these robots undergo frequent wear and tear due to continuous function and need to undergo regular maintenance. The cost of maintenance is also high for these robots. Moreover, factories with smaller operations might not have access to such huge capitals and hence are unable to afford such robots. However, the falling prices of the components are expected to lower the price of AGVs in future. The high initial cost involved with these robots is expected to hinder the growth of the market moderately during the forecast period.

Global Mobile Robotics Market: Segmentation

The global mobile robotics market has been segmented by types into unmanned aerial vehicle (UAV), unmanned ground vehicle (UGV), unmanned surface vehicle (USV) and autonomous underwater vehicle (AUV). The UGVs held the largest market share during the forecast period. These robots are now widely used in medical and healthcare segment for delivery of medicines and equipment and instruments. Increasing use of mobile robots in defense is one of the important factors bolstering the demand of unmanned ground vehicles in the global market. Since these vehicles operate autonomously, they can be used to accomplish missions in dangerous, inconvenient and difficult situations.

By application, the global mobile robotics market has been bifurcated into industrial and services segment. The service application segment has been anticipated to hold the largest market share. Regionally, the global mobile robotics market has been categorized into North America, Europe, Asia Pacific, Middle East and Africa and Latin America. Asia Pacific has been analyzed to be largest and fastest growing region during the forecast period. The increasing adoption of mobile robots in developing countries such as India and China is aiding to the demand for this market in this region.

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Companies Mentioned in the Report

The major vendors in the global mobile robotics market are iRobot Corporation, Barrett technology, Swisslog, John Deere, Fanuc Corporation, KUKA AG, Honda Motor Co. Ltd., Boeing Company, Seegrid Corporation, Google, Inc., Northrop Grumman Corporation, Lowe’s Company, Inc. Amazon, Inc., Fetch Robotics, Inc., Omron Adept Technologies, Clearpath Robotics, Inc., Bossa Nova Robotics, Savioke, Aethon, Inc. and Locus Robotics.

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