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Autonomous Delivery Robots Market Overview, Trends And Forecast 2024-2033
Autonomous Delivery Robots Market Overview
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According to The Business Research Company's, The autonomous delivery robots market size has grown exponentially in recent years. It will grow from $1.36 billion in 2023 to $.85 billion in 2024 at a compound annual growth rate (CAGR) of 35.8%. The growth in the historic period can be attributed to e-commerce growth, labor shortages, consumer preference for contactless services, increased investment and funding, and consumer demand for contactless delivery.
The autonomous delivery robots market size is expected to see exponential growth in the next few years. It will grow to $6.38 billion in 2028 at a compound annual growth rate (CAGR) of 36.2%. The growth in the forecast period can be attributed to rising urbanization, increasing need for effective last-mile delivery solutions, regulatory support and infrastructure development, rising labor costs, and increased disposable income. Major trends in the forecast period include innovating technologies in autonomous delivery, integration of the latest technologies, robots with auto-navigating and autonomous decision-making skills, advancements in AI, and integration of machine learning.
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Market Drivers and Trends:
The e-commerce growth is expected to propel the growth of the autonomous delivery robots market going forward. E-commerce refers to buying and selling goods and services online through various platforms and channels. E-commerce is growing due to increased internet penetration, which expands the reach of online shopping and its convenience, allowing consumers to shop anywhere at any time. Autonomous delivery robots enhance e-commerce by speeding up delivery times and reducing operational costs through efficient, automated doorstep deliveries. For instance, in August 2024, according to the United States Census Bureau, a US-based government agency, in the second quarter of 2024, the total U.S. retail e-commerce sales reached an estimated $291.6 billion, marking a 1.3% increase from the first quarter of 2024 and a 6.7% rise compared to the second quarter of 2023. Therefore, e-commerce growth drives the autonomous delivery robots market.
Major companies operating in the autonomous delivery robot market are focusing on developing technologically advanced solutions, such as next-generation self-driving robots, to enhance delivery efficiency and meet evolving consumer demands. Next-generation self-driving robots are advanced autonomous robots featuring cutting-edge technology for more efficient and accurate delivery tasks. For instance, in January 2022, Serve Robotics Inc., a US-based developer of advanced, AI-powered delivery robots, launched next-generation delivery robots that achieve Level 4 autonomy, making it the first autonomous vehicle company to complete commercial deliveries. These robots can operate autonomously in designated areas, navigating busy city sidewalks and handling various urban challenges without human intervention. Equipped with advanced safety technologies such as lidar, ultrasonics, and cameras, they ensure safe navigation through features like automatic emergency braking and collision avoidance. The development of these robots involved collaborations with technology partners like NVIDIA and Ouster, enhancing their AI computing and sensing capabilities.
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Major Key Players of the Market:
Amazon Robotics LLC, JD.com Inc., Alibaba Group Holding Limited, Panasonic Holdings Corporation, Rakuten Mobile Inc., KEENON Robotics Co. Ltd., Nuro Inc., Kiwibot U, Pudu Robotics Inc., Aethon Inc., Segway Robotics Inc., SEER Robotics Group LLC, Ottonomy.IO Inc., Bear Robotics, Starship Technologies Ltd., Refraction AI Inc., Doozy Robotics, Aitonomi AG, Clevon Corp, DriveU.auto, Relay Robotics Inc., Serve Robotics Inc., TeleRetail AG
Autonomous Delivery Robots Market 2024 Key Insights:
• The autonomous delivery robots market size is expected to see exponential growth in the next few years. It will grow to $6.38 billion in 2028 at a compound annual growth rate (CAGR) of 36.2%.
• E-Commerce Expansion Fuels Growth In The Autonomous Delivery Robots Market
• Advancing Autonomous Delivery With Cutting-Edge Technology And AI
• North America was the largest region in the autonomous delivery robots market in 2023
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