Autonomous Mobile Robots Market To Generate $220.6 Billion Revenue by 2030

Factors such as the surging need for automation solutions and flourishing e-commerce industry will drive the autonomous mobile robots (AMRs) market advance at a CAGR of 18.3% during the forecast period (2020-2030). The market revenue stood at $29.3 billion in 2019, and it is projected to reach $220.6 billion by 2030. Moreover, the mounting demand for such robots in the agriculture sector will support the market growth in the foreseeable future. As the term suggests, these platforms travel around the work area and perform their task without much human assistance.

The burgeoning demand for automation solutions on account of the rising complexity of manufacturing operations, escalating focus on higher productivity, soaring labor costs, and increasing focus on augmenting the productivity is a prominent growth driver for the autonomous mobile robots market. For example, many automotive original equipment manufacturers (OEM) use these platforms for complex assembly processes, which involve the use of flexible components. Likewise, the logistics sector and warehouses deploy these robots for loading and transportation activities.

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Additionally, the burgeoning deployment of AMRs in the agriculture industry will also facilitate the market growth during the forecast period. With the rising implementation of advanced technologies, farming practices are becoming sophisticated and modernized. Moreover, the booming population will propel the adoption of automation solutions in farming applications, thus augmenting the demand for such robots in the foreseeable future. Essentially, the amplifying focus on enhancing the farmland productivity with fewer inputs on the farmlands will drive the sales of AMRs in the coming years.

The offering segment of the autonomous mobile robots market is categorized into software, service, and robotic system. Further, the robotic system category is classified into humanoid, unmanned ground vehicle (UGV), unmanned maritime vehicle (UMV), and unmanned aerial vehicle (UAV). In 2019, the UGV category held the largest market share due to the rising usage of such robots for field expeditions and logistics. The UMV category is expected to exhibit the fastest growth throughout the forecast period due to the rising adoption of UMVs for defense and commercial applications.

According to P&S Intelligence, Asia-Pacific (APAC) accounted for the largest share in the autonomous mobile robots market during the historical period (2014-2019) due to the high sales of such robots in China, South Korea, and Japan. Furthermore, APAC is also projected to witness the fastest growth during the forecast period owing to the expansion of the e-commerce sector and subsequent rise in the need for a streamlined supply chain. A large number of such robots are being deployed in warehouses to simplify the product delivery and storage processes.

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Europe held the second position in the autonomous mobile robots market during the historical period. Among European nations, Germany generated the highest revenue in 2019, and it is expected to register significant growth during the forecast period. This can be attributed to the high social and economic stability of the country. Moreover, the strong presence of the e-commerce and agriculture sectors will support the market growth in Europe in the coming years.

Thus, the rising integration of autonomous solutions in industries and increasing deployment of AMRs in the agriculture sector will supplement the market growth in the foreseeable future.

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This release was published on openPR.