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Mobile Robots Market on Track for Strong Growth, Estimated to Grow at 7.3% CAGR Through 2029
Mobile Robots Market
How Large Will the Mobile Robots Market Size By 2025?
The market for mobile robots has seen substantial growth in recent years. The value of this market is projected to rise from $18.68 billion in 2024 to $20.03 billion in 2025, growing at a compound annual growth rate (CAGR) of 7.2%. This impressive growth in the recent past is linked to several factors such as the increased usage of containers for marine cargo, increased demand for rehabilitation in the healthcare sector, the growing preference for automation in warehouses, heightened focus on ensuring human safety and heightened demand for mobile logistics from online retail businesses.
How Big Is the Mobile Robots Market Size Expected to Grow by 2029?
The expansion of the mobile robots market size is anticipated to surge considerably in the upcoming years, reaching a substantial growth of $26.51 billion in 2029 with a compound annual growth rate (CAGR) of 7.3%. This growth, predicted in the future years, is due to factors such as the popular use of autonomous mobile robots by logistic firms, significant financial support from regulatory organisations, the need for material-handling tools, the broadening of local distribution networks, and the escalating demand for autonomous forklifts. Predominant trends during the projected period encompass the acceptance of Industry 4.0 technologies, advancements in sensors and controls for mobile robots, incorporation of groundbreaking technologies like 5G, amalgamation of Artificial Intelligence (AI) & Machine Learning (ML) methods with autonomous mobile robots, and the creation of robots tailored for specific applications.
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Which Key Market Drivers Powering Mobile Robots Market Expansion and Growth?
The surge in e-commerce transactions is anticipated to boost the expansion of the mobile robots market. E-commerce activities, which involve purchasing goods or services via digital platforms like websites or mobile applications, are on the rise due to the growing consumer inclination towards online shopping. This preference is fueled by factors such as convenience, a wider range of product options, and competitive prices. Mobile robots play a vital role in the e-commerce sector, automating warehouse operations and increasing efficiency in tasks such as picking, packing, and managing inventory. These robots help cut labor expenses and quicken order fulfillment, thereby enhancing overall customer satisfaction. For example, the Census Bureau of the Department of Commerce, an American governmental entity, reported in February 2024 that in the final quarter of 2023, e-commerce sales soared by 7.5% compared to the same period in the previous year, 2022. Consequently, the growth of e-commerce activities is propelling the expansion of the mobile robots market.
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Which Fast-Growing Trends Are Poised to Disrupt the Mobile Robots Market?
Leading firms in the mobile robots sector are concentrating on creating ground-breaking technological solutions such as the design of AI-integrated mobile robots, to improve autonomous navigation, real-time data interpretation, and adaptive learning aptitudes. AI-integrated mobile robots are robotic systems with artificial intelligence abilities that allow them to comprehend their surroundings, make decisions, and perform tasks autonomously or semi-autonomously. For instance, in March 2024, ABB Ltd., a tech firm based in Switzerland, introduced the Flexley Tug, an autonomous mobile robot that simplifies the control of mobile robot fleets. This robot, armed with AI-powered visual SLAM navigation technology and innovative AMR Studio software, allows beginner users to conveniently program and manage all robot fleets, reducing setup time by up to 20% and tackling labor shortages.
What Are the Emerging Segments in the Mobile Robots Market?
The mobile robotsmarket covered in this report is segmented -
1) By Product: Automated Guided Vehicle (AGV), Autonomous Mobile Robot (AMR)
2) By Form Factors: Forklifts, Tow Or Tractor Or Tug, Unit Load, Assembly Line
3) By Navigation Sensor: Reflector, Quick Response Code, Laser Or Light Detection And Ranging, Camera, Other Navigation Sensors
4) By Application: Agricultural, Cleaning, Educational, Healthcare, Manufacturing, Warehousing And Logistics, Other Applications
Subsegments:
1) By Automated Guided Vehicle (AGV): Tow AGVs, Unit Load AGVs, Forklift AGVs, Heavy-Duty AGVs, Light-duty AGVs, Indoor AGVs, Outdoor AGVs
2) By Autonomous Mobile Robot (AMR): Indoor AMRs, Outdoor AMRs, Collaborative AMRs (Cobot AMRs), Delivery AMRs, Inspection AMRs, Logistics AMRs, Healthcare AMRs
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Who Are the Global Leaders in the Mobile Robots Market?
Major companies operating in the mobile robots market are Samsung Electronics Inc, LG Electronics Inc, Northrop Grumman Corporation, ABB Group, KION Group AG, Omron Automation Corp, Zebra Technologies Inc, Kuka AG, Teradyne Inc, Kongsberg Maritime Corporation, iRobot Corporation, ECA GROUP, Aethon Inc, JASCI LLC, DJI Corporation, Blue Frog Robotics Inc, Promobot LLC, OTTO Motors Inc, GeckoSystems Intl Corp, Mayfield Robotics Inc, Nauticus Robotics Inc.
Which are the Top Profitable Regional Markets for the Mobile Robots Industry?
North America was the largest region in the mobile robots market in 2024. The regions covered in the mobile robots market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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