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Global Analysis and Forecast of Mobile Robot Market 2018-2023

May 3 2019

The "Global Mobile Robot Market: Focus on Type(Automated Guided Vehicle, Autonomous Mobile Robot, and Unmanned Ground Vehicle), and Industry - Analysis and Forecast, 2018-2023" report has been added to ResearchAndMarkets.com's offering.

Over the past few decades, there has been intensifying interest in robotics, both in the media and on the conference circuit. Advances in robotics, artificial intelligence, and machine learning are ushering in a new age of automation in which robots can not only perform a range of routine physical work activities more cheaply and better than humans but are also increasingly capable of accomplishing activities that include cognitive capabilities.

Recently, a great deal of current research has been focused on mobile robots which can be stated from the fact that almost every major university has one or more labs that focus on mobile robot research. Today, positive impacts of mobile robotic technology are prominent across a wide range of applications in various sectors including automotive, logistics and distribution, food and beverage, healthcare, defense and security, and commercial, among others.

Rapid technological advancements in mobile robots like enhanced localization, the capability of mapping and prediction, and tracking features have resulted in a significant increase in their adoption rate in developing as well as developed countries.

The global mobile robot market witnessed a high growth rate owing to the increased need for organizational efficiency and accuracy, rising labor cost and unavailability of skilled labor, and progress in both software, including cognitive technologies, and hardware, particularly sensors, actuators, and batteries. Moreover, as the technology became affordable due to decreasing robot cost, it is likely that the companies already using robots will use even more of them.

However, a considerable amount of work still needs to be done so that the mobile robots could operate in environments that are unmapped and poorly understood. Acceleration in venture capital investment for robotics technologies and the introduction of Industry 4.0 across multiple sectors are some of the major factors expected to create lucrative opportunities for the global mobile robot market in the coming five years.

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