Mobile Robotics Market: Steady Inflow of Investment due to Widespread Applicability of Mobile Robotics Drives Market
Increasing Scope of Interaction with Other Devices thanks to M2M and IoT
One of the prominent features of the pipeline of the global mobile robotics market is the increasing development of mobile robotic systems that can interact with other smart devices. Owing to the rapid development of M2M communication and the Internet of Things, setting up an ecosystem of smart devices has never been easier. Mobile robotic systems can perform actions such as watering the user’s plants or feeding their pet, and operating relatively simple household appliances. This process can be improved massively through the integration of the mobile robotic system with the user’s smartphone, which could be used to send commands.
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The widespread applicability of mobile robotics has also resulted in a steady inflow of investment from government bodies. Defense agencies have mainly been keen on adopting drones as part of their armed forces, while government healthcare bodies have been generous in funding research into the development of surgical robotic systems, which can perform even complicated operations with a much lower risk of errors than humans. The government funding has also been complemented by the increasing venture capital funding to mobile robotics manufacturers, further improving the industry’s prospects in the coming years.
Since the conception of mobile robotics, the IoT, and M2M communication, the cost of the components required in the same has gone down drastically due to the consistent technological advancement observed in the electronics sector. The dropping prices of sensors and camera modules has given an important boost to the mobile robotics industry.
Asia Pacific to Remain Dominant Regional Market
By geography, the global mobile robotics market is segmented into Asia Pacific, North America, Europe, and Rest of the World. Of these, Asia Pacific is likely to remain the leading contributor to the global mobile robotics market in the coming years. The revenue of the Asia Pacific market for mobile robotics is expected to be valued at around US$3.4 bn by the end of 2016, and rise to close to US$5.1 bn by 2019.
By application, defense and military is the leading segment of the global mobile robotics market, with the demand for mobile robotics from domestic applications expected to rise significantly in the coming years. The global mobile robotics market is expected to be valued at US$14.2 bn by 2019.
The information presented in this review is based on a Transparency Market Research report, titled, ‘Mobile Robotics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019.’
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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