Global Autonomous Robot Market Statistics Report| Estimated to grow about USD 7,572.5 mn by 2028- Zion Market Research
Global Autonomous Robot Market
Global Autonomous Robot Market Size Analysis
Global Autonomous Robot Market- Zion Market Research
The Autonomous Robot Market size was worth around USD 2,819.4 million in 2021. with a compound annual growth rate of approximately 17.9 % over the forecast 2028
SUITE N202, NEW YORK, UNITED STATES, October 10, 2022 /EINPresswire.com/ -- In this Global Autonomous Robot Market Report, We analyze Research on Country Level Analysis as well as Globe. The study includes: North America dominates the Autonomous Robot Market, because of constant technical breakthroughs and rising demand from the region's logistics industry, In addition, due to rising internal and foreign security challenges in the region, as well as increased terrorist activity, the market is expected to grow. Rising labor costs and technological developments are also propelling market expansion in this region. During the forecast period, Asia Pacific is expected to have the fastest rate. The expanding e-commerce business in Asia Pacific's emerging economies is particularly encouraging the use of AMRs for inventory management. AMRs are being used in warehouses by e-commerce companies to automate intralogistics processes such as picking, sorting, and palletizing. Process automation across other industries and industrial verticals will continue to drive the regional market. Key players functioning in the Autonomous Robot Market include ABB, Bleum, Boston Dynamics, Clearpath Robotics, Inc., GreyOrange, Harvest Automation, IAM Robotics, inVia Robotics, Inc., Kuka AG, Teradyne, Inc.
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The Autonomous Robot Market size was worth around USD 2,819.4 million in 2021 and is estimated to grow to about USD 7,572.5 million by 2028, with a compound annual growth rate (CAGR) of approximately 17.9 percent over the forecast period. The report analyzes the Autonomous Robot Market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Autonomous Robot Market.
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Recent Developments
In 2020, Sesto Robotics has launched a new autonomous mobile robot built primarily to automate material handling procedures in the manufacturing, commercial, and healthcare industries.
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Global Autonomous Robot Market: Driver
The exponential growth of the E-commerce business allows warehouse and distribution center owners to focus on improving their operational workflow from manual to automated to satisfy the changing purchasing behaviors of consumers. For example, Walmart Inc. began adding automated bot-staffed warehouses to dozens of its store locations for pickup and delivery in January 2021. It provides more efficiency, faster fulfillment, and increased client availability.
Furthermore, factors such as increased warehouse automation and expanding acceptance of these robots across a variety of industries, owing to their capacity to maneuver autonomously in dynamic situations, are projected to drive market expansion. Furthermore, the rising use of automated material handling, as well as trends such as lights-out automation, are likely to drive market expansion during the forecast period.
Global Autonomous Robot Market: Restraint
The limiting factor noted is the large initial expenditure required to develop automated distribution stores and centers in order to achieve optimal productivity and efficiency. Due to low industrial output and long-delayed return on investment ratios, this creates a difficult condition for small and medium-sized businesses to park capital. High procurement, integration, programming, and accessory expenses, among other things, are stifling global market growth. Furthermore, the providers must deploy the robots concurrently with their current operations, which might cause issues with inventory management and controls. As a result of these issues, the market is constrained.
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Global Autonomous Robot Market: Segmentation
The Autonomous Robot Market is segregated based on Type, Battery, and End-use.
By Type, the market is classified into Goods-to-Person Picking Robots, Self-Driving Forklifts, Autonomous Inventory Robots, and Unmanned Aerial Vehicles. In the forecast period, the goods-to-person picking robots segment led the market, accounting for more than half of global sales. The high share is due to the continuous deployment of autonomous robots to replace paper-based and manual picking technologies. To convey items between employees and stations, the goods-to-person picking robots can be taught to carry carts and go through customizable routes. Several robotics firms, including Bleum, GreyOrange, and IAM Robotics.
By Battery, the market is classified into Lead Battery, Lithium-Ion batteries, Nickel-based batteries, and others. The lead battery segment accounted for the greatest market share in the forecast period. Lead batteries also have a constant voltage, good reversibility, and long service life, making them ideal for a wide range of industrial applications. Over the forecast period, the lithium-ion battery segment is predicted to grow at the quickest rate. When compared to lead batteries, lithium-ion batteries are more expensive.
By End-use, the market is classified into Manufacturing (Automotive, Aerospace, Electronics, Chemical, Pharmaceuticals, Plastics, Defense, FMCG, Others), Wholesale & Distribution (E-commerce, Retail Chains/Conveyance Stores, and Others). Automotive was the manufacturing segment's dominant sector due to the widespread use of AMRs for various tasks such as assembly, painting, sealing, coating, machine tending & part transfer, and materials removal.
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Regional Landscape
North America dominates the autonomous robot market as a result of rising E-commerce sales in the region. Furthermore, fast technological adoption, the presence of significant manufacturers operating in this region, and massive spending from regulatory agencies to create automated warehouses and distribution centers all contribute to the market's growth. Additionally, huge investments by governmental entities to encourage the establishment of smart factories and Industry 4.0 are key factors driving the global market.
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Varsharani Lavate
Zion Market Research
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