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 market. Increasing demand for automated ground vehicles (AGVs) of
warehouse automation is another driving factor for the market.
Browse 70 market data Tables and 42 Figures
spread through 158 Pages and in-depth TOC on "Mobile Robots Market -
Global Forecast 2023"
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Professional robots to hold largest share of
mobile robots market in 2018
The
adoption of professional robots for medical applications, such as laboratory
automation and surgery assistance is one of the key factors 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 in 2018
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.
Mobile Robots 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 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 market in APAC.
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