Mobile Robotics Market: Increasing Investment in Defense to Fuel Adoption
With the producers focusing on manufacturing products at competitive prices, which are similar in functionality and performance and the rising number of new entrants, the degree of competition in this market is likely to remain high over the next few years, states the research report.
As per TMR’s estimations, the global market for mobile robotics, which was worth US$8.58 bn in 2016, is anticipated to rise at a healthy CAGR of 15.60% during the period from 2017 to 2025 and reach US$30.96 bn by the end of the forecast period.
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Unmanned ground vehicles have emerged as the key products in this market and are expected to retain their position over the next couple of years.
mobile robotics market
Increasing Deployment of Mobile Robots in Manufacturing Sector to Ensure Asia Pacific’s Dominance
In this research report, the worldwide market for mobile robotics has been classified into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America on the basis of geography. Asia Pacific led the global market in 2016 with 32.20% and is projected to maintain its dominance throughout the period of the forecast.
The increasing deployment of mobile robots in the manufacturing sector is likely to drive the Asia Pacific mobile robotics market in the near future. Apart from this, the surge in the investment in defense and logistics sectors is also anticipated to increase the uptake of mobile robots in the coming years, reflecting greatly on the growth of this regional market.
According to the market study, mobile robots are mostly deployed in industrial and service applications. Among the two, mobile robots find a higher demand in the industrial application segment and the trend is likely to remain so over the next few years, states the reserch report.
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Increasing Usage of Mobile Robots for E-Commerce Logistics to Boost Market’s Growth
The increasing usage of mobile robots for e-commerce logistics is the key factor behind the substantial growth of the global market for mobile robotics. The recent rise in the e-commerce sector has fueled the demand for efficient order fulfillment, resulting into the rising integration of automation with manual labor to make the delivery system more efficient and reduce the online retail fulfillment costs. This, as a result, has impacted this market positively and is expected to have a high influence over the coming years.
The increasing demand for factory automation and the rising adoption of mobile robots in emerging economies, especially China, are also expected to stimulate this market over the forecast period. However, the high initial investments required for the deployment of mobile robots may hamper the growth of this market in the years to come, states the research study.
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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