Autonomous Mobile Robots Market
Autonomous Mobile Robots Market Research Report: By Offering (Robotic System, Software, Service), End User (Logistics, Agriculture, Retail, Mining & Mineral, Manufacturing, Aerospace & Defense, Healthcare, Residential, Hospitality) - Global Industry Size, Share and Trends Analysis, Forecast to 2030
NEW YORK, April 2, 2020 /PRNewswire/ -- Read the full report: https://www.reportlinker.com/p05879061/?utm_source=PRN
The key factors driving the swift uptake of autonomous mobile robots (AMRs) are the increasing demand for automation solutions and flourishing e-commerce industry. The global autonomous mobile robots market generated $29.3 billion revenue in 2019, which is expected to reach $220.6 billion in 2030. The market is predicted to witness rapid progress during the forecast period (2020–2030), with a CAGR of 18.3%. AMRs refer to robots that incorporate sensors and navigation technology for moving around, without being directly controlled by an operator.
The swift prosperity of the e-commerce industry is one of the biggest factors fueling the growth in the AMR market. The increasing internet penetration and burgeoning use of smartphones amongst the masses are some of the biggest factors contributing toward the rising trend of online shopping, thereby boosting the e-commerce industry across the world. In 2018, the worldwide e-commerce sales witnessed a massive increase, of around 22% from the previous year.
The increasing demand for automation solutions is another crucial factor responsible for the advance of the AMR market. As a result of the high labor costs in developed nations, increase in complex manufacturing processes, growing focus toward high productivity, and lack of adequate labor, the demand for automation solutions is mushrooming across the globe. For instance, original equipment manufacturers (OEMs) in the automotive sector require the help of robots in various complex assembly operations. AMRs are also used in warehouses and logistics for performing important tasks, such as loading, unloading, and transportation.
On the basis of offering, the AMR market is divided into the software, service, and robotic system categories. Out of these, the service category accounted for the largest share in the market, in terms of revenue, in 2019. This category includes the revenue generated from the deployment of AMRs, sale of aftermarket components, and provision of consulting services. Various companies, such as Fetch Robotics Inc., KUKA AG, and OMRON Corporation, are offering the robot-as-a-service (RaaS) ownership model, which has propelled the adoption of these robots in various sectors.
Depending on end user, the AMR market is categorized into healthcare, aerospace & defense, manufacturing, mining & minerals, residential, logistics, hospitality, retail, agriculture, and others, wherein the others category includes the automotive, media & entertainment, banking, financial services, and insurance (BFSI), government, utilities, IT & telecom, education, oil & gas, and construction industries. Amongst the different categories, logistics had the largest market share, in terms of revenue, in 2019. This was primarily due to the wide-scale adoption of AMRs in warehouses and storage facilities, in order to streamline the supply chain.
The key trend being observed in the AMR market is the creation and deployment of mobile collaborative robots. A mobile collaborative robot includes a robot manipulator mounted on its body, which allows the robot to automatically move around the work floor. This type of robot is especially useful in large industries, due to its ability to reduce the downtime between tasks, use lesser floor space than the conventional industrial robots, and offer enhanced performance in material handling processes.
Globally, the Asia-Pacific (APAC) region dominated the AMR market, in terms of revenue, in 2019. This is ascribed to the fact that in countries such as Japan, China, and South Korea, these systems are widely used. Due to the flourishing e-commerce industry in this region and the resultant increase in the demand for smart and efficient warehouses, in order to simplify the storage and delivery processes, APAC is also predicted to register the fastest growth during the forecast period.
Therefore, the prosperity of the manufacturing sector, coupled with the rising need for automation, to streamline various manufacturing processes, will ensure that the market for autonomous mobile robots flourishes in the coming years.
Read the full report: https://www.reportlinker.com/p05879061/?utm_source=PRN
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