The future of mobile robots. The technologies coming in from 2019

An upsurge in need for safety along with rising in demand for mobile logistics by online retailers drives the growth in the market. However, the high cost of acquisition and challenges posed by untested environments hinder the market growth. On the other hand, the rise in adoption in agricultural applications and the emergence of Industry 4.0 in logistics and warehousing create new opportunities in the industry.

According to the report, the global mobile robotics market garnered $9.34 billion in 2018 and is expected to reach $39.58 billion by 2026, growing at a CAGR of 21.5% from 2019 to 2026.

Hardware segment to maintain its dominant share by 2026

Based on component, the hardware segment held the major market share, with nearly three-fourths of the total share in 2018, and is expected to maintain its dominant share by 2026. This is attributed to a surge in manufacturing robotics technology for different applications including logistics & warehousing, military & defense, and others. However, the support & services segment is expected to register the fastest CAGR of 26.9% from 2019 to 2026, owing to demand services such as installation, robot up-gradation, robots servicing, and automated systems for mobile robots.

UAV segment to maintain its leadership status throughout the forecast period

The unmanned aerial vehicle (UAV) segment contributed nearly two-thirds of the total share in 2018 and is expected to maintain its leadership status throughout the forecast period. This is due to wide adoption in civil applications for real-time monitoring, wireless coverage, remote sensing, search & rescue, delivery of goods, security & surveillance, and others. However, the unmanned ground vehicle (UGV) segment would register the highest growth rate, with a CAGR of 25.5% from 2019 to 2026. This is attributed to rising in implementation in the defense sector for surveillance, transportation of supplies & equipment, and explosive activation.

Frontrunners of the industry

Leading market players analyzed in the research include Kuka AG, Northrop Grumman Corporation, Honda Motor Co., Ltd., Lockheed Martin Corporation, iRobot Corporation, Amazon Robotics, Softbank Robotics, UBTECH Robotics, Inc., Kongsberg Maritime, and Boston Dynamics.

North America to continue its dominance in terms of revenue during the forecast period

North America contributed the largest market share in 2018, accounting for more than two-fifths of the total market share, and is expected to continue its dominance during the forecast period. This is due to rise in automation applications across various industry verticals including e-commerce, food & beverage, pharmaceuticals, automotive, and others. Asia-Pacific is expected to grow at the highest growth rate with a CAGR of 25.3% from 2019 to 2026, owing to the region being a prime center for rise in manufacturing activities, which in turn, drives the mobile robotics market for commercial applications.

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