[158 Pages Report] The mobile
robots market is expected to grow from USD 18.7 billion in 2018 to USD 54.1
billion by 2023, at a CAGR of 23.71% during the forecast period.
The high
adoption of robots for personal uses, such as companionship and entertainment,
is the key factor driving the growth of the mobile robots market. Increasing
demand for automated ground vehicles (AGVs) of warehouse automation is another
driving factor for the market.
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Professional robots to hold largest share of mobile
robots market
The adoption
of professional robots for medical applications, such as laboratory automation
and surgery assistance is one of the key factor driving the market. However,
warehouse automation is a recent trend observed in the industry and AGVs play a
very vital role in the warehouse automation process. Apart from this, the
robots help the logistic companies in attaining short- to medium-term payback
period and provide higher return on investment (ROI).
Domestic applications to contribute a significant share to mobile robots
market
The
development of artificial intelligence and IoT has given a new dimension of how
robots can interact and work with humans. Also, the development and evolution
of MEMS and sensors, and enhancements in visualization technology have improved
the efficiency and accuracy of mobile robots. The growth of the mobile robot
market for domestic applications is led by innovation and modernization in the
field of robotics. Technological advancements and research activities have led
to the development of domestic cleaning robots, which are helping humans to
perform mundane tasks.
Mobile robots market for control systems to grow at highest CAGR during
forecast period
Controller
or control system is the main device used in any type of robotic system. Every
robot must have a control system to operate its drive system, which is used to
move the arm, wrist, and body of a robot, and hence it is also known as the
central processing unit (CPU) or processor or the brain of robots. Further,
with integration of technologies such as artificial intelligence (AI) and IoT
put forth a need for optimized control systems for robots. Hence, the growth of
the market for control systems can also be attributed to the evolution of
autonomous robots and AI integrated robots worldwide.
Market in APAC is expected to grow at a significant rate during 2018–2023
Significant
development of information technology ecosystem and well-established and robust
consumer base in China and neighboring countries are some of the major factors
driving the growth of the mobile robots market in APAC. Apart from this high
rate of penetration rate of e-commerce giants, such as Amazon, Walmart, and
Alibaba, in the region puts forth the need of AGVs for warehouse automation.
Further, owing to the increasing government exemptions for operating commercial
drones is contributing to the significant growth of the mobile robots market in
APAC.
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Key Market Players
A few major
companies in the mobile robots market are Northrop Grumman (US), Honda Motor
(Japan), Softbank (Japan), iRobot (US), DJI (China), Lockheed Martin (US),
Kongsberg Maritime (Norway), KUKA (Germany), Bluefin Robotics (US), Samsung
Electronics (South Korea), Parrot (France), 3DR (US), GeckoSystems (US), LG
(South Korea), Amazon Robotics (US), Mayfield Robotics (US), Promobot (Russia),
Bluefrog Robotics (France), LEGO (Denmark), and ECA Group (France). Apart from
these, Robotiq (Canada) is one of the key suppliers in the mobile robots
market.
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