Press release
Delivery Robot Market Predicted to Garner $2,405.1 Million in the 2021-2028 Timeframe, Growing at a Healthy CAGR of 17.8%
Delivery Robot Market
According to Research Dive's newly published report, the global delivery robot market is predicted to grow at a stable CAGR of 17.8%, thereby garnering a revenue of $2,405.1 million in the 2021-2028 timeframe.
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Dynamics of the Market
Drivers: Since the inception of robotics technology, there has been a gradual integration of robotics technology and the e-commerce industry, and over the years, robotics has been increasingly used by this industry. As a result of this, the delivery robot market is predicted to garner substantial growth in the forecast period. Additionally, growing adoption of advanced technologies like Artificial Intelligence is predicted to boost the market in the forecast period.
Opportunities: Massive growth and expansion of the e-commerce industry is predicted to provide numerous growth opportunities to the market in the forecast period. Moreover, development of advanced technologies like machine learning is predicted to augment the growth rate of the market in the coming period.
Restraints: High regulatory restrictions, however, might prove to be a hindrance in the growth trajectory of the delivery robot market.
Impact of COVID-19 on the Market
The novel coronavirus pandemic and the resulting lockdowns have negatively impacted numerous industries by hampering both the supply-side and demand-side supply chains. However, despite these challenges, the delivery robot market has registered a growth in the pandemic years. The growth in demand for delivery robots to maintain safety standards, especially in the food industry, was the main reason behind this market's expansion during the pandemic years.
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Segments of the Market
The report has divided the delivery robot market into certain segments based on load handling capacity, number of wheels, end-user, and region.
By load handling capacity, up to 10 kg sub-segment is predicted to have the most dominant market share and garner a revenue of $1,105.5 million by 2028. Increasing adoption of robots to deliver small products from food, e-commerce, and healthcare industry is predicted to be the primary growth driver of the market in the forecast period.
By number of wheels, the 6 wheels sub-segment is predicted to have the highest market share and garner a revenue of $1,137.4 million by 2028. Encouragement from governments in North America and Europe to adopt these kinds of robots is predicted to positively impact the growth rate of this sub-segment in the coming period.
By end user, the retail sub-segment is predicted to garner the largest revenue and gather $835.3 million by 2028. The massive growth in the global e-commerce industry has led to an increase in the demand for delivery robots, especially from the logistics market to deliver retail goods. This is predicted to become the primary growth driver of the sub-segment in the forecast period.
By region, the North America delivery robot market is projected to generate maximum revenue and is predicted to reach $811.0 million by 2028. North America region is one the most developed parts of the world and has infrastructure suited for appropriate deployment of robots. Also, most of the research and development underway in the robotics industry is in the North America region. These two factors are estimated to play a huge role in the growth of the market in this region.
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Prominent Market Players
Some prominent market players of the delivery robot market are Boston Dynamics, Inc., Amazon.com, Inc., Cleveron, JD.com, Starship Technologies, Nuro, Inc., Postmates Inc., Aethon., Savioke, Inc., and Panasonic Corporation, among others. These companies are coming up with various innovations using different business strategies like acquisitions, mergers, and collaborations to gain a prominent position in the market.
Finally, this report published by Research Dive also summarizes many crucial aspects of the delivery robot market including the latest strategic developments, SWOT analysis, financial performance of the key players, and product portfolio.
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๐๐จ๐ง๐ญ๐๐๐ญ:
Mr. Abhishek Paliwal
Research Dive
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Research Dive is a market research firm offering actionable insights and extensive analysis of various markets across different verticals. Maintaining the integrity and authenticity of the services, the firm provides services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With unprecedented access to several paid data resources, a team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive delivers the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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