Home > Pressrelease > Autonomous Mobile Robot Market size to exceed $9 Bn by 2032
Autonomous Mobile Robot Market size to exceed $9 Bn by 2032
- Published Date: April 5, 2023
Autonomous Mobile Robot Market value is expected to cross USD 9 billion by 2032, according to a recent research report announced by Global Market Insights Inc.
The report reveals that increased hospitality funding will hasten the development of autonomous mobile robot software. For instance, in July 2022, Hustlers Hospitality secured over USD 850k in seed funding to expand its reach in six cities through over nine dedicated central kitchens by the end of FY2022-23. Such initiatives will boost the requirement for fully autonomous mobile robots for disinfection, cleaning, room service, and other hospitality applications. Likewise, the emphasis on improving health and hygiene and the awareness of operational efficiency, safety, and low cost will accelerate product sales.
Autonomous mobile robots to gain traction for security and inspection of hazardous environments
Autonomous mobile robot market value from the security and inspection type segment will surpass USD 2.5 billion by 2032, given the strong focus of industrial robot manufacturers on novel product launches. A notable example is the introduction of Shandong OTO Robot Technology Co., Ltd.’s TUTU, an intelligent security patrolling robot, in April 2022. Equipped with cameras and sensors, such robots can navigate through unknown environments and detect potential hazards. The report says that the knowledge about the significant role of autonomous robots in security and inspection tasks will foster industry trends.
Rise of e-commerce during COVID-19 proliferates the adoption of 3PL & logistics mobile robots
With respect to the end-use, the autonomous mobile robot market size from the 3PL and logistics segment registered over 16.5k units in 2022. The robust application scope in material handling, transportation, and supply chain inventory management is a key factor creating lucrative prospects for autonomous mobile robot manufacturers. With the rapid change in consumer behavior following the COVID-19 outbreak, e-commerce is growing at a rapid pace, and brands have been implementing various strategies to remain competitive. The report claims that these factors will fuel AMR usage in warehouse logistics applications.
Browse key industry insights spread across 300 pages with 338 market data tables and 35 figures & charts from the report “Autonomous Mobile Robot Market Size By Type (Delivery and Material Handling Robot, Security & Inspection Robot, Cleaning and Disinfection Robot), By End-use (Manufacturing, 3PL and Logistics, E-commerce and Retail, Hospitality, Hospital), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032”, in detail along with the table of contents:
Strong focus on industrial automation will stimulate the deployment of AMR technology in Europe
Europe autonomous mobile robot market share is anticipated to depict over 16% CAGR through 2023-2032, driven by the rise in industrial automation. Governments are also introducing favorable regulations and investing in AMR technology to drive automation, as a part of the effort to promote industrial innovation and competitiveness. However, due to the unprecedented coronavirus pandemic crisis, the European labor force declined considerably in the manufacturing sector, which may hinder the regional industry outlook to some extent over the forthcoming years.
Collaborative business expansions by industry players will influence industry trends
Some of the key players in autonomous mobile robot market include Forwardx Robotics Inc., 6 River Systems, Zebra Fetch Robotics, SuperDroid Robots, OTTO Motors, ST Engineering Aethon, Inc., SoftBank Robotics, Seegrid Corp., ROBOTLAB Inc., Omron Group, Mobile Industrial Robots, MHS Global, Locus Robotics, Gideon Brothers, ABB Robotics, and Addverb technologies, among others. Strategic product launches, acquisitions, business expansions, and partnerships are among the prominent initiatives being undertaken by these companies to boost their market presence.