Apr 30 2019
Surge in demand of e-commerce retailers to accelerate the transportation of commodities and goods along with efficient warehouse management fuel the market growth. Based on regions, North America is estimated to grow at the highest CAGR of 24.4% from 2018 to 2025, owing to rise in automation processes across different business verticals and the requirement to speed up the operational as well as manufacturing processes.
According to the report published by Allied Market Research, the global mobile logistics robot market is expected to garner $11.26 billion by 2025, from $2.42 billion in 2017, growing at a CAGR of 21.2% from 2018 to 2025. The research provides a detailed analysis of key investment pockets, major segments, changing market dynamics, market size & forecasts, and competitive scenario.
Surge in demand of e-commerce retailers to accelerate the transportation of commodities and goods along with efficient warehouse management fuel the market growth. In addition, the requirement to ensure worker safety in high-risk situations and hazardous places supplement the growth. However, high initial cost of acquisition and unforeseen challenges taking place in the untested working conditions restrain the growth of the market. On the other hand, increase in adoption of mobile logistics robots in emerging economies to speed up the delivery speed and transport processes along with emergence of industry 4.0 create new opportunities in the market.
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Warehouses held the major share in terms of revenue, accounting for more than half of the total share in 2017 and is expected to maintain its lead position during the forecast period. This is due to surge in speed of delivery and transportation offered by warehouse robots in manufacturing plants without utilizing any additional cost in the existing eco-system. However, the hospitality segment is estimated to register the highest rate of growth with a CAGR of 24.0% from 2018 to 2025, owing to increased capabilities to carry out major tasks in the hospitality sector. The report also provides a detailed analysis on healthcare and other verticals.
Based on regions, North America is estimated to grow at the highest CAGR of 24.4% from 2018 to 2025, owing to rise in automation processes across different business verticals and the requirement to speed up the operational as well as manufacturing processes. However, Asia-Pacific held the highest market share in terms of revenue, contributing for more than half of the total share, due to increase in manufacturing units and surge in market opportunities offered for electronic and electric commodities.
Source: https://www.alliedmarketresearch.com