The Global Autonomous Mobile Robots Market to Exhibit 24.34% CAGR by 2028
It further discusses the Market Summary, Industry Outlook, Impact of COVID-19, Key Insights, Porter's Five Forces Model, Market Attractiveness Index, Vendor Scorecard, Key Impact Analysis, Key Market Strategies, Drivers, Challenges, Opportunities, Competitive Landscape, Research Methodology & Scope, Global Market Size, Forecasts & Analysis (2021-2028).
Triton Market Research's report states that the global market for autonomous mobile robots would expand with 24.34% of CAGR during the evaluated years between 2021 and 2028.
Workplace safety is a serious concern in high-risk industries such as manufacturing, transportation, warehousing, etc. There are many safety issues associated with the use of traditional robots, such as manually operated forklifts. Such problems can be solved by deploying autonomous mobile robots. Thus, the growing safety concerns at workplace are driving the growth of the studied market. However, the lack of a skilled workforce and the high initial capital investments are hindering the development process.
Globally, Europe is the largest market for autonomous mobile robots at present, and is expected to maintain its lead over the forthcoming period. Its role in science supports various domains, including robotics, which, in turn, rely on a variety of fundamental domains. Such factors have promoted the adoption of AMRs. This increased adoption is aiding the overall development of the autonomous mobile robots market.
The key companies profiled in the autonomous mobile robots market are Teradyne Inc, Mobile Industrial Robots APS, Aethon Inc, General Atomics Aeronautical Systems Inc, The Aviation Industry Corporation of China, Cimcorp Oy, Kuka AG, Fetch Robotics Inc, The Hi Tech Robotic Systemz Ltd, Vecna Robotics, Locus Robotics Inc, Clearpath Robotics Inc, SMP Robotics Systems Corp, Omron Corporation, and SoftBank Robotics.
The global market is largely dominated by a few big names. However, a number of new players have now entered. These new entrants offer their products at lower prices than those by the existing companies. Sometimes, they may even provide better performance or extra features not offered by other companies' products. This move is majorly benefiting them. On the other hand, major global players have been consistently launching innovative products with superior characteristics to gain a competitive edge. Additionally, the existing companies have been expanding their businesses through capacity expansions to consolidate their position and increase the level of competition in the market.
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