The Autonomous Delivery Robots Market is estimated to be valued at Us$ 0.52 Mn in 2021 and is expected to exhibit A CAGR Of 43.4% over the forecast period 2022–2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Autonomous delivery robots are intelligent mobility machines capable of navigating autonomously, usually wheels-based delivery robots. They are used to transport goods between locations without any human interference. These robots use technologies like SLAM (Simultaneous Localization and Mapping), navigation systems, IoT and cloud computing. They are being adopted for last mile deliveries in industries like food delivery, pharmaceutical delivery and logistics.
Market Dynamics:
Adoption of smart city initiatives by various governments worldwide is driving the demand for autonomous delivery robots. Smart cities rely on evolving technologies like IoT and robotics for efficient waste management, public safety and delivery logistics. For example, Starship Technologies has deployed its autonomous delivery robots in various smart cities across Europe and America for last mile deliveries.
Rising demand for contactless deliveries due to COVID-19 pandemic has also fueled the autonomous delivery robots market growth. Customers are preferring robotic deliveries over human interactions to avoid risk of virus transmission. Logistics companies are increasingly leveraging robots for safe, swift and efficient deliveries. For instance, Express Scripts partnered with Nuro to deliver prescription medicines contactlessly using autonomous vehicles in Houston.
SWOT Analysis
Strength: Autonomous delivery robots have high operational efficiency. They can work 24/7 without needing breaks. They also have high precision of delivery and ensure safety during pandemics by reducing human contact. Delivery robots use advanced technologies like AI, sensors and algorithms for navigation which makes delivery process smoother.
Weakness: Dependence on advanced technologies like AI and sensors makes delivery robots prone to technological glitches. High initial investment is required to develop and deploy autonomous delivery robots. Public may have concerns about job losses from increased use of robots.
Opportunity: Growing e-commerce industry is increasing the demand for last mile deliveries. This offers opportunity for autonomous delivery robots to handle increased delivery volumes efficiently. Rising consumer preference for contactless deliveries post-pandemic also creates market opportunity.
Threats: Stringent safety and privacy regulations for autonomous vehicles can create compliance challenges. Technological advancements by competitors may make existing robot models redundant quickly. Changes in consumer behavior like increased adoption of electric vehicles can reduce dependency on delivery services.
Key Takeaways
The global Autonomous Delivery Robots Market is expected to witness high growth, exhibiting CAGR of 43.4% over the forecast period 2022 to 2030, due to increasing demand for contactless deliveries and efficiency in last mile deliveries.
Regional analysis: North America dominated the global market in 2021 with a share of over 35%, due to growing e-commerce sales and high technology adoption in the US. Asia Pacific is expected to be the fastest growing region, expanding at a CAGR of 45% during the forecast period. This can be attributed to large customer base and favourable government policies for autonomous vehicle adoption in China and India.
Key players: Key players operating in the autonomous delivery robots market are Starship Technologies, Marble Robot Inc., TeleRetail, Postmates Inc., Robby Technologies, Robomart Inc., Kiwibot, Udelv Inc., Savioke Inc., Segway Robotics Inc., Nuro Inc., Cleveron AS, Eliport, ANYbotics AG, Box Bot Inc., Neolix, Effidence and Aethon Inc. Starship Technologies and Marble Robot Inc., are recognized as technology leaders with wide service coverage in multiple countries.
Read More : https://marketinsightsminds.blogspot.com/2023/10/autonomous-delivery-robots-market-is.html
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