Tech

At 13.0% CAGR, Mobile Robotics Market Tops USD 18,774.0 million by 2021, Says A to Z Research

According to the report, the global mobile robotics market was valued at around USD 9,017.5 million in 2015 and is expected to generate revenue of USD 18,774.0 million by end of 2021, growing at a CAGR of slightly above 13.0% between 2016 and 2021.

Mobile robot is an automatic machine with mobile nature. Mobile robots are particularly used in industrial activities for logistics and warehousing distribution, painting and de-painting, assembly, and inspection. A spying robot is an example of a mobile robot capable of movement in a given environment. Mapping, navigation, localization, perception, and locomotion are the principle activities of mobile robot. Robots are widely used for transportation, inspection, and surveillance activities among others. Mobile robots also play important role in entertainment industry, military service, mining and metals, electronics and electrical sector, automotive, medical sector and others.

Mobile robotics market is mainly driven by integration of mobile robots with various mobile technologies. Moreover, ongoing research & development in the field of mobile robotics is expected to open new avenues for the market growth in the next few years. Additionally, rapid industrialization, and rising requirement of mobile robotics systems in professional applications such as agriculture, medical, defense, aerial and others is expected to trigger the growth of this industry in the coming years. However, increasing competition with newest technologies and lack of expert in R&D is expected to impede the market growth in the near future.

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The mobile robotics market is segmented by its products into autonomous underwater vehicles (AUVs), unmanned aerial vehicles (UAVs), unmanned ground vehicles (UGVs), and unmanned surface vehicles (USVs). UGV was the major segment of mobile robotics and accounted for largest share of the global demand in 2015. UGVs segment includes automated guided vehicles (AGVs). Further it is expected to continue its dominance in global market over the forecast period due to rising demand of AGV in warehousing and distribution application areas. UAVs segment is expected to exhibit steady growth over the forecast period due to the increased demand in the military, defense, photography, and security applications.

Mobile robotics market is segmented into applications such as logistics & warehousing, defense, medical & healthcare, domestic, entertainment and others. Defense segment dominated the market the mobile robotics market in 2015 followed by logistics & warehousing. Domestic applications sector is attractive segment in this market due to adoption of robotic vacuum cleaners, etc.

Geographically, the market is segmented into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa. Asia Pacific acquired the majority of share mobile robotics market due to the increasing demand of drones for defense applications sector, and AGVs in industrial applications. It accounted for over 34% share of the entire market for mobile robotics in 2015. Asia Pacific was followed by North America and Europe. The U.S. is expected to dominate R&D spending on UAV technology over the next few years.

Some of the key players in mobile robotics market include Adept Technology, Barrett Technology, Swisslog, John Deere, Amazon, Seegrid Corp., iRobot Corporation, KUKA Robotics,  Gecko Systems Intl. Corp., Honda Motor Co. Ltd., Google, Bossa Nova robotics, Aethon, Harvest Automation, Kongsberg Maritime, ECA robotics, Northrop Grumman, and Bluefin Robotics.

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