Industrial Segment Is The Largest Segment Driving The Growth Of Autonomous Mobile Robots Market
The global Autonomous Mobile Robots Market is estimated to be valued at US$ 2.96 Bn or Mn in 2023 and is expected to exhibit a CAGR of 16% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Autonomous mobile robots are machines equipped with autonomous navigation systems that help them to move around without human assistance. They are widely used in multiple industries for various tasks like material handling, warehouse operations, assembling, packaging, and other repetitive tasks to improve efficiency.
Market key trends:
One of the key trends driving the growth of autonomous mobile robots market is increasing labor costs. With rising wages and shortage of workforce, companies are looking for cost-effective and efficient alternatives like mobile robots to perform repetitive and routine tasks. Autonomous mobile robots help reduce labor costs substantially and improve productivity by allowing employees to focus on more critical and value-adding tasks. Their round-the-clock operability without breaks further helps optimize business operations and cut costs.
Here is the sample content on Autonomous Mobile Robots Market:
One of the key trends in the autonomous mobile robots market is the integration of artificial intelligence and machine learning capabilities. Autonomous mobile robots are increasingly being equipped with advanced computer vision, navigation, and sensory capabilities using AI and ML. This is allowing robots to operate independently and make decisions autonomously without human intervention. For instance, autonomous mobile robots can now map unfamiliar spaces, detect and avoid obstacles, collaborate with humans and other robots, and optimize schedules using AI. The integration of AI is enhancing the functionality, flexibility, and productivity of autonomous mobile robots.
SWOT Analysis
Strength: Autonomous mobile robots offer advantages like 24/7 operations, consistency in operations, flexibility to handle complex tasks and reduced labor costs.
Weakness: High initial investment costs, technical difficulties in unfamiliar environments, safety issues while operating alongside humans.
Opportunity: Expanding applications in industries like healthcare, logistics and warehousing creates huge market opportunity.
Threats: Technological changes may lead to obsolescence and challenges from open-source robotics startups.
Key Takeaways
The Global Autonomous Mobile Robots Market Demand is expected to witness high growth, exhibiting 16% CAGR over the forecast period, due to increasing labor costs and demand for productivity improvement. The market size for 2023 is estimated to be US$ 2.96 Bn.
Regional analysis: North America dominates the autonomous mobile robots market currently due to strong industrial robotics adoption. However, Asia Pacific is expected to witness the fastest growth over the coming years led by China, India and other developing countries. This can be attributed to rising labor costs, establishment of manufacturing facilities and acceptance of automation.
Key players operating in the autonomous mobile robots market are Aviation Industry Corporation of China, Clearpath Robotics, General Atomics Aeronautical Systems, Hi-Tech Robotic Systemz, Softbank Robotics, SMP Robotics, Aethon. Clearpath Robotics, SMP Robotics and Mobile Industrial Robots are among the leading providers of autonomous mobile robots for applications like warehouse operations and logistics.
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