Escalated demand for Mobile Robot from Defense Sector is envisioned to bolster the Market of Mobile Robotics in future, According to Research Nester.
The global mobile robotics market is segmented into product type such as unmanned ground vehicles, unmanned aerial vehicles, unmanned surface vehicles and autonomous underwater vehicles. Among these segments, unmanned ground vehicles segment is expected to witness significant growth during the forecast period i.e. 2017-2024. Additionally, unmanned ground vehicles segment is riding on the back of increasing usage of mobile robots for agriculture practices. Further, growing adoption of mobile robotics by defense sector is also envisioned to flourish the growth of mobile robotics market across the globe.
Global mobile robotics market is expected to register a CAGR of 10.1% over the forecast period. Moreover, the global mobile robotics market is projected to expand at USD 20.8 billion globally by the end of 2024. The market of mobile robotics is expanding on the back of wide scale application in numerous sectors such as logistics and warehouse, painting and depainting, automotive industry and others.
Commercial segment by mode is projected to witness a considerable CAGR during the forecast period. Moreover, Asia-Pacific region accounted the largest market share in mobile robotics captured 34% of the overall mobile robotic market by revenue. In addition to this, mobile robotics market in Asia-Pacific region is expanding due to rapid industrialization accompanied by increasing manufacturing activities. Apart from this, Asia-Pacific region is most lucrative market across the globe owing to emerging economies such as India and China.
Favorable government initiatives
Increasing investment by government to build the defense sector is envisioned to foster the growth of mobile robotics market. Moreover, heavy adoption of mobile robotics for border surveillance by major countries is also positively impacting the growth of mobile robotics market by 2024. Further, rise in per capita income of the developing and developed nations such as U.S., China and others coupled with increasing focus to improve their defense infrastructure is predicted to bolster the growth of mobile robotics market.
Technological advancement in robots
Increasing research and development activities in the field of mobile robots by major key players to provide technology equipped robots which can perform various tasks is expected to foster the growth of mobile robotics market. Furthermore, rapid industrialization along with adoption of technologically advanced mobile robots for domestic purposes like cleaning and others are also predicted to expand the market for mobile robotics.
On the contrary, high initial investment associated with the installation of mobile robotics is anticipated to dampen the growth of global mobile robotic market by 2024. Further, high maintenance cost of mobile robot is also anticipated to restrain the market of mobile robotics across the globe.
The report titled "Mobile Robotics Market: Global Demand Analysis & Opportunity Outlook 2024" delivers detailed overview of the global mobile robotic market in terms of market segmentation by product type, by end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter's five force model.
This report also provides the existing competitive scenario of some of the key players of the global mobile robotic market which includes company profiling of iRobot Corporation, KUKA AG, Bossa Nova Robotics, Bluefin Robotics Corporation, Adept Technology, Inc, John Deere, Gecko Systems Intl. Corp, Seegrid Corp., ECA Robotics and Bluefin Robo. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global mobile robotic market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision so as to avoid future uncertainties.